Borrowings

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

8. Borrowings

The following table presents information regarding secured financing arrangement:

	September 30, 2019
Variable Interest Entity	Current Balance		Commitment Amount		Maturity Date	Interest Rate
(in thousands)
Oportun Funding V, LLC	$	—	$	400,000	10/1/2021	LIBOR (minimum of 0.00%) + 2.45%

	December 31, 2018
Variable Interest Entity	Current Balance		Commitment Amount		Maturity Date	Interest Rate
(in thousands)
Oportun Funding V, LLC	$	85,289	$	400,000	10/1/2021	LIBOR (minimum of 0.00%) + 2.45%

The Company elected the fair value option for all asset-backed notes issued on or after January 1, 2018. The following table presents information regarding asset-backed notes:

	September 30, 2019
Variable Interest Entity	Initial note amount issued (a)		Initial collateral balance		Current balance (a)		Current collateral balance(b)		Weighted average interest rate(c)		Original revolving period
(in thousands)
Asset-backed notes recorded at fair value:
Oportun Funding XIII, LLC (Series 2019-A)	$	279,412	$	294,118	$	251,926	$	301,610	3.22	%	3 years
Oportun Funding XII, LLC (Series 2018-D)	175,002		184,213		179,746		187,701		4.50	%	3 years
Oportun Funding X, LLC (Series 2018-C)	275,000		289,474		282,125		294,940		4.39	%	3 years
Oportun Funding IX, LLC (Series 2018-B)	225,001		236,854		216,849		241,108		4.09	%	3 years
Oportun Funding VIII, LLC (Series 2018-A)	200,004		222,229		202,449		226,290		3.83	%	3 years
Total asset-backed notes recorded at fair value	$	1,154,419	$	1,226,888	$	1,133,095	$	1,251,649
Asset-backed notes recorded at amortized cost:
Oportun Funding VII, LLC (Series 2017-B)	$	200,000	$	222,231	$	199,227	$	226,152	3.51	%	3 years
Oportun Funding VI, LLC (Series 2017-A)	160,001		188,241		159,526		191,532		3.36	%	3 years
Total asset-backed notes recorded at amortized cost	$	360,001	$	410,472	$	358,753	$	417,684

	December 31, 2018
Variable Interest Entity	Initial note amount issued (a)		Initial collateral balance(b)		Current balance (a)		Current collateral balance(b)		Weighted average interest rate(c)		Original revolving period
(in thousands)
Asset-backed notes recorded at fair value:
Oportun Funding XII, LLC (Series 2018-D)	$	175,002	$	184,213	$	177,086	$	188,710	4.50	%	3 years
Oportun Funding X, LLC (Series 2018-C)	275,000		289,474		277,662		297,443		4.39	%	3 years
Oportun Funding IX, LLC (Series 2018-B)	225,001		236,854		213,751		241,353		4.09	%	3 years
Oportun Funding VIII, LLC (Series 2018-A)	200,004		222,229		198,779		226,465		3.83	%	3 years
Total asset-backed notes recorded at fair value	$	875,007	$	932,770	$	867,278	$	953,971
Asset-backed notes recorded at amortized cost:
Oportun Funding VII, LLC (Series 2017-B)	$	200,000	$	222,231	$	198,677	$	226,465	3.51	%	3 years
Oportun Funding VI, LLC (Series 2017-A)	160,001		188,241		159,022		191,447		3.36	%	3 years
Total asset-backed notes recorded at amortized cost	$	360,001	$	410,472	$	357,699	$	417,912

^(a) Initial note amount issued includes notes retained by the Company as applicable and the current balances are measured at fair value and reflects pay-downs subsequent to note issuance and exclude notes retained by the Company.

^(b) Includes the unpaid principal balance of loans receivables, cash, cash equivalents and restricted cash pledged by the Company.

^(c) Weighted average interest rate excludes notes retained by the Company.

As of September 30, 2019, and December 31, 2018, the Company was in compliance with all covenants and requirements of the secured financing facility and asset-backed notes.