OppFi (OPFI) 10-Q/A 16 Nov 21 2021 Q3 Quarterly report (amended) Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Entity Information [Line Items]
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-39550
Entity Registrant Name	OppFi Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1648122
Entity Address, Address Line One	130 E. Randolph Street
Entity Address, Address Line Two	Suite 3400
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	312
Local Phone Number	212-8079
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001818502
Entity Filer Category	Non-accelerated Filer
Class A Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Entity Trading Symbol	OPFI
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		13,464,542
Warrants
Entity Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share
Entity Trading Symbol	OPFI WS
Security Exchange Name	NYSE
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Class V Voting Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		96,500,241

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	[1]	$ 27,627	$ 25,601
Restricted cash	[1]	29,175	20,056
Total cash, cash equivalents, and restricted cash		56,802	45,657
Finance receivables at fair value	[1]	334,114	0
Finance receivables at amortized cost, net of allowance for credit losses of $146 and $55,031 as of September 30, 2021 and December 31, 2020, respectively	[1]	1,269	222,243
Debt issuance costs, net	[1]	1,650	2,598
Property, equipment and software, net		13,827	10,558
Deferred tax asset		23,858	0
Other assets	[1]	9,134	4,787
Total assets		440,654	285,843
Liabilities:
Accounts payable	[1]	3,617	1,380
Accrued liabilities	[1]	25,493	22,785
Reserve for repurchase liability		0	4,241
Secured borrowing payable held by variable interest entity	[1]	19,791	16,025
Senior debt, net	[1]	205,968	131,726
Warrant liabilities		24,506	0
Tax receivable agreement liability		22,866	0
Subordinated debt - related party		0	4,000
Other debt		0	6,354
Total liabilities		302,241	186,511
Commitments and contingencies (Note 14)
Stockholders' equity / members' equity:
Preferred units, no par value (0 and 41,102,500 units authorized, issued, and outstanding as of September 30, 2021 and December 31, 2020, respectively)			6,660
Preferred stock,$0.0001 par value (1,000,000 shares authorized with no shares issued and outstanding as of September 30, 2021)		0
Additional paid-in capital		58,990	352
Accumulated (deficit) earnings		(82,182)	92,320
Total OppFi Inc.'s stockholders' equity / members' equity		(23,181)
Total OppFi Inc.'s stockholders' equity / members' equity			99,332
Noncontrolling interest		161,594
Noncontrolling interest			0
Total stockholders' equity / members' equity		138,413
Total stockholders' equity / members' equity			99,332
Total liabilities and stockholders' equity / members' equity		440,654	285,843
Variable Interest Entity, Primary Beneficiary
Assets
Cash and cash equivalents		0	127
Restricted cash		16,805	12,350
Total cash, cash equivalents, and restricted cash		16,805	12,477
Finance receivables at fair value		284,476	0
Finance receivables at amortized cost, net of allowance for credit losses of $146 and $55,031 as of September 30, 2021 and December 31, 2020, respectively		0	148,473
Debt issuance costs, net		1,650	2,576
Other assets		12	26
Total assets		302,943	163,552
Liabilities:
Accounts payable		9	49
Accrued liabilities		1,646	1,647
Secured borrowing payable held by variable interest entity		19,791	16,025
Senior debt, net		157,500	112,076
Total liabilities		178,946	$ 129,797
Class A Common Stock
Stockholders' equity / members' equity:
Common stock, value, issued		1
Class B Common Stock
Stockholders' equity / members' equity:
Common stock, value, issued		0
Class V Voting Stock
Stockholders' equity / members' equity:
Common stock, value, issued		$ 10
[1]	(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Allowance for credit losses	$ 146	$ 55,031
Preferred units, par value (in dollars per share)	$ 0	$ 0
Preferred units, authorized (in shares)	0	41,102,500
Preferred units, issued (in shares)	0	41,102,500
Preferred units, outstanding (in shares)	0	41,102,500
Preferred stock, par or stated value per share (in dollars per share)	$ 0.0001
Preferred stock, shares authorized (in shares)	1,000,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Variable Interest Entity, Primary Beneficiary
Allowance for credit losses		$ 38,612
Class A Common Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.0001
Common stock, shares authorized (in shares)	379,000,000
Common stock, shares, issued (in shares)	13,464,542
Common stock, shares, outstanding (in shares)	13,464,542
Class B Common Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.0001
Common stock, shares authorized (in shares)	6,000,000
Common stock, shares, issued (in shares)	0
Common stock, shares, outstanding (in shares)	0
Class V Voting Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.0001
Common stock, shares authorized (in shares)	115,000,000
Common stock, shares, issued (in shares)	96,500,241
Common stock, shares, outstanding (in shares)	96,500,241

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue:
Interest and loan related income, net	$ 91,448,000	$ 62,493,000	$ 253,581,000	$ 198,187,000
Other income	529,000	266,000	1,029,000	506,000
Interest and other income	91,977,000	62,759,000	254,610,000	198,693,000
Provision for credit losses on finance receivables	(143,000)	(16,303,000)	(181,000)	(56,136,000)
Provision for repurchase liability	0	(1,577,000)	0	(6,619,000)
Change in fair value of finance receivables	(18,940,000)	0	(52,635,000)	0
Net revenue	72,894,000	44,879,000	201,794,000	135,938,000
Expenses:
Salaries and employee benefits	17,326,000	8,933,000	46,292,000	25,947,000
Direct marketing costs	15,580,000	2,170,000	34,502,000	5,446,000
Interest expense and amortized debt issuance costs	6,414,000	4,512,000	17,270,000	16,161,000
Interest expense - related party	0	141,000	137,000	420,000
Professional fees	9,511,000	1,875,000	15,391,000	3,979,000
Depreciation and amortization	2,712,000	1,799,000	7,289,000	4,775,000
Technology costs	2,696,000	1,954,000	7,265,000	5,646,000
Payment processing fees	2,001,000	1,082,000	5,313,000	2,828,000
Occupancy	1,006,000	841,000	2,765,000	2,262,000
Management fees - related party	0	280,000	350,000	280,000
General, administrative and other	4,136,000	1,950,000	11,337,000	6,836,000
Total expenses	61,382,000	25,537,000	147,911,000	74,580,000
Income from operations	11,512,000	19,342,000	53,883,000	61,358,000
Other income:
Gain on forgiveness of Paycheck Protection Program loan	6,444,000	0	6,444,000	0
Change in fair value of warrant liability	13,139,000	0	13,139,000	0
Income before income taxes	31,095,000	19,342,000	73,466,000	61,358,000
Provision for income taxes	703,000	0	703,000	0
Net income	30,392,000	$ 19,342,000	72,763,000	$ 61,358,000
Less: net income attributable to noncontrolling interest	16,267,000		58,638,000
Net income attributable to OppFi Inc.	$ 14,125,000		$ 14,125,000
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ 1.06	$ 0	$ 1.08	$ 0
Diluted (in dollars per share)	$ 1.06	$ 0	$ 1.08	$ 0
Weighted average common shares outstanding:
Basic (in dollars per share)	13,363,995	0	13,107,873	0
Diluted (in dollars per share)	13,363,995	0	13,107,873	0
Pro forma:
Pro forma income tax expense (unaudited)	$ 703,000	$ 0	$ 703,000	$ 0
Pro forma net income (unaudited)	$ 30,392,000	19,342,000	$ 72,763,000	61,358,000
Pro Forma
Other income:
Income before income taxes		19,342,000		61,358,000
Provision for income taxes		561,000		1,779,000
Net income		18,781,000		59,579,000
Pro forma:
Pro forma income tax expense (unaudited)		561,000		1,779,000
Pro forma net income (unaudited)		$ 18,781,000		$ 59,579,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity / Members’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Previously Reported	Revision of Prior Period, Adjustment	Warrants	Preferred Units	Preferred UnitsWarrants	Common StockClass A Common Stock	Common StockClass V Voting Stock	Additional Paid-in Capital	Additional Paid-in CapitalWarrants	Accumulated Earnings (Deficit)	Accumulated Earnings (Deficit)Previously Reported	Accumulated Earnings (Deficit)Revision of Prior Period, Adjustment	Noncontrolling Interest	Noncontrolling InterestRevision of Prior Period, Adjustment
Beginning balance, shares at Dec. 31, 2019					41,102,500		0	0
Beginning balance at Dec. 31, 2019	$ 37,447				$ 6,660		$ 0	$ 0	$ 208		$ 30,579			$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	61,358										61,358
Member distributions	(15,803)										(15,803)
Ending balance, shares at Sep. 30, 2020					41,102,500		0	0
Ending balance at Sep. 30, 2020	83,002				$ 6,660		$ 0	$ 0	208		76,134			0
Beginning balance, shares at Jun. 30, 2020					41,102,500		0	0
Beginning balance at Jun. 30, 2020	78,645				$ 6,660		$ 0	$ 0	208		71,777			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,342										19,342
Member distributions	(14,985)										(14,985)
Ending balance, shares at Sep. 30, 2020					41,102,500		0	0
Ending balance at Sep. 30, 2020	83,002				$ 6,660		$ 0	$ 0	208		76,134			0
Beginning balance, shares at Dec. 31, 2020					41,102,500		0	0
Beginning balance at Dec. 31, 2020	99,332				$ 6,660		$ 0	$ 0	352		92,320			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effects of adopting fair value option	69,435										69,435
Net income	72,763	$ 44,970	$ 27,793									$ 44,970	$ 14,125		$ 13,668
Profit interest compensation	229								229
Member contribution	200				$ 200
Member distributions	(51,008)										(50,241)			(767)
Warrant units exercised (in shares)						486,852
Warrant units exercised				$ 5,517						$ 5,517
Reverse recapitalization (in shares)					(41,589,352)		12,977,690	96,987,093
Reverse recapitalization	(58,728)				$ (6,860)		$ 1	$ 10	52,219		(252,791)			148,693
Unit conversion (in shares)							486,852	(486,852)
Unit conversion	0
Stock based compensation	673								673
Ending balance, shares at Sep. 30, 2021					0		13,464,542	96,500,241
Ending balance at Sep. 30, 2021					$ 0
Ending balance at Sep. 30, 2021	138,413						$ 1	$ 10	58,990		(82,182)			161,594
Beginning balance, shares at Jun. 30, 2021					41,102,500		0	0
Beginning balance at Jun. 30, 2021	177,339				$ 6,660		$ 0	$ 0	581		170,098			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30,392	$ 2,599	$ 27,793									$ 2,599	$ 14,125		$ 13,668
Member contribution	200				$ 200
Member distributions	(16,980)										(16,213)			(767)
Warrant units exercised (in shares)						486,852
Warrant units exercised				$ 5,517						$ 5,517
Reverse recapitalization (in shares)					(41,589,352)		12,977,690	96,987,093
Reverse recapitalization	(58,728)				$ (6,860)		$ 1	$ 10	52,219		(252,791)			148,693
Unit conversion (in shares)							486,852	(486,852)
Unit conversion	0
Stock based compensation	673								673
Ending balance, shares at Sep. 30, 2021					0		13,464,542	96,500,241
Ending balance at Sep. 30, 2021					$ 0
Ending balance at Sep. 30, 2021	$ 138,413						$ 1	$ 10	$ 58,990		$ (82,182)			$ 161,594

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 72,763	$ 61,358
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of finance receivables	52,635	0
Provision for credit losses on finance receivables	181	56,136
Provision for repurchase liability	0	6,619
Depreciation and amortization	7,289	4,775
Debt issuance cost amortization	1,735	1,451
Profit interest and stock-based compensation expense	1,172	0
Loss on disposition of equipment	5	0
Deferred income taxes	445	0
Loss on tax receivable agreement liability	7	0
Change in fair value of warrant units	4,208	0
Change in fair value of warrant liability	(13,139)	0
Gain on forgiveness of Paycheck Protection Program loan	(6,444)	0
Changes in assets and liabilities:
Unamortized loan origination costs	0	6,619
Accrued interest and fees receivable	(1,346)	5,719
Other assets	(4,230)	(125)
Accounts payable	954	(2,752)
Accrued expenses	3,855	3,619
Net cash provided by operating activities	120,090	143,419
Cash flows from investing activities:
Finance receivables originated and acquired	(402,835)	(313,923)
Finance receivables repayments and recoveries	303,419	286,474
Net repurchases from third-party lender	0	(8,073)
Purchases of equipment and capitalized technology	(10,563)	(8,131)
Net cash used in investing activities	(109,979)	(43,653)
Cash flows from financing activities:
Member distributions	(51,008)	(15,804)
Member contributions	200	0
Payments to Opportunity Financial, LLC unit holders	(91,646)	0
Cash received in reverse capitalization	91,857	0
Payment of capitalized transaction costs	(21,591)	0
Net advances (payments) of secured borrowing payable	3,767	(4,672)
Net advances (payments) in senior debt	75,443	(75,127)
Payment of subordinated debt - related party	(4,000)	0
Proceeds from other debt	0	6,354
Payment for debt issuance costs	(1,988)	(2,280)
Net cash provided by (used in) financing activities	1,034	(91,529)
Net increase in cash, cash equivalents and restricted cash	11,145	8,237
Cash, cash equivalents and restricted cash
Beginning	45,657	35,979
Ending	56,802	44,216
Supplemental disclosure of cash flow information:
Interest paid on borrowed funds	16,046	15,692
Non-cash change from adopting the fair value option on finance receivables	69,435	0
Non-cash investing and financing activities:
Warrant liabilities recognized in the reverse recapitalization	37,645	0
Additional paid in capital recognized in the reverse capitalization	78,468	0
Conversion of warrant unit liability to additional paid in capital	5,517	0
Forgiveness of Paycheck Protection Program loan	$ 6,444	$ 0

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations OppFi Inc. (“OppFi”), formerly FG New America Acquisition Corp. (“FGNA”), collectively with its wholly-owned subsidiaries (“Company”), is a leading mission-driven financial technology platform that powers banks to offer accessible lending products to everyday consumers through its proprietary technology and artificial intelligence and a top-rated experience. OppFi’s platform facilitates the installment loan products, OppLoans and SalaryTap, and the credit card product, OppFi Card. On July 20, 2021 (“Closing Date”), the Company completed a business combination pursuant to the Business Combination Agreement (“Business Combination Agreement”), dated as of February 9, 2021, by and among Opportunity Financial, LLC (“OppFi-LLC”), a Delaware limited liability company, OppFi Shares, LLC (“OFS”), a Delaware limited liability company, and Todd Schwartz (“Members’ Representative”), in his capacity as the representative of the members of OppFi-LLC (“Members”) immediately prior to the closing (“Closing”) of the transactions contemplated by the Business Combination Agreement (“Business Combination”). At the Closing, FGNA changed its name to “OppFi Inc.” OppFi’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”) and redeemable warrants exercisable for Class A Common Stock (“Public Warrants”) are listed on the New York Stock Exchange (the “NYSE”) under the symbols “OPFI” and “OPFI WS,” respectively. Following the Closing, the Company is organized in an “Up-C” structure in which substantially all of the assets and the business of the Company are held by OppFi-LLC and its subsidiaries, and OppFi’s only direct assets consist of Class A common units of OppFi-LLC (“OppFi Units”). As of September 30, 2021, OppFi owned approximately 12.2% of the OppFi Units and controls OppFi-LLC as the sole manager of OppFi-LLC in accordance with the terms of the Third Amended and Restated Limited Liability Company Agreement of OppFi-LLC (“OppFi A&R LLCA”). All remaining OppFi Units (the “Retained OppFi Units”) are beneficially owned by the Members. OFS holds a controlling voting interest in OppFi through its ownership of shares of Class V common stock, par value $0.0001 per share, of OppFi (“Class V Voting Stock”) in an amount equal to the number of Retained OppFi Units and therefore has the ability to control OppFi-LLC.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies The accompanying consolidated financial statements include the accounts of OppFi and OppFi-LLC with its wholly-owned subsidiaries: Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, Opportunity Funding SPE IV, LLC, Opportunity Funding SPE V, LLC, Opportunity Funding SPE VI, LLC, Opportunity Funding SPE VII, Opportunity Funding SPE VIII, OppWin, LLC, Opportunity Manager, LLC, Opportunity Financial Card Company, LLC, OppWin Card, LLC, SalaryTap, LLC, OppWin SalaryTap LLC and SalaryTap Funding SPE LLC. In 2019, OppFi-LLC ceased the origination of unsecured lines of credit. As of September 30, 2021, OppFi-LLC did not have any outstanding finance receivables relating to lines of credit. In 2017, OppFi-LLC entered into a preferred return agreement with Midtown Madison Management LLC, an unrelated third party, which required OppFi-LLC to create a bankruptcy protected entity named Opportunity Funding SPE II, LLC, a Delaware Limited Liability Company and a wholly owned subsidiary. Under the terms of the agreement, Opportunity Funding SPE II, LLC acquires receivables from OppFi-LLC and OppWin LLC, and the third party receives a future preferred economic interest in these assets. OppFi-LLC continues to service the assets in accordance with the terms of the agreement but is required to maintain a backup servicing agreement. This transaction is being accounted for as a secured borrowing payable and the entity holds all assets on its balance sheet, which collateralize the debt. In 2018, OppFi-LLC entered into a credit agreement with Ares Agent Services L.P. which required OppFi-LLC to create a bankruptcy protected entity named Opportunity Funding SPE III, LLC, a Delaware Limited Liability Company and a wholly owned subsidiary. Under the terms of the agreement, Opportunity Funding SPE III, LLC uses the proceeds from the credit facility to acquire receivables from OppFi-LLC and OppWin, LLC, which the lender receives first priority lien on all of the entity’s assets. OppFi-LLC continues to service the assets in accordance with the terms of the agreement but is required to maintain a backup servicing agreement. This transaction is accounted for as senior debt in which this bankruptcy protected entity holds all assets on its balance sheet, which collateralize the debt. In 2019, OppFi-LLC entered into a credit agreement with BMO Harris Bank N.A, an unrelated third party, which required OppFi-LLC to create a bankruptcy protected entity named Opportunity Funding SPE IV, LLC, a Delaware Limited Liability Company and a wholly owned subsidiary. Under the terms of the agreement, Opportunity Funding SPE IV, LLC uses the proceeds from the credit facility to acquire receivables from OppFi-LLC and OppWin, LLC, which the lender receives first priority lien on all of the entity’s assets. OppFi-LLC continues to service the assets in accordance with the terms of the agreement but is required to maintain a backup servicing agreement. This transaction is accounted for as senior debt in which this bankruptcy protected entity holds all assets on its balance sheet, which collateralize the debt. OppFi-LLC provides a financial guaranty in connection with this credit agreement. On September 30, 2021, the credit agreement with BMO Harris Bank N.A. was amended to require OppFi-LLC to create a bankruptcy protected entity named SalaryTap Funding SPE, LLC, a Delaware Limited Liability Company and a wholly owned subsidiary. Under the terms of the agreement, as amended, SalaryTap Funding SPE, LLC uses the proceeds from the existing credit facility to acquire receivables from SalaryTap, LLC and OppWin SalaryTap, LLC, which the lender receives first priority lien on all of the entity’s assets. SalaryTap, LLC continues to service the assets in accordance with the terms of the agreement but is required to maintain a backup servicing agreement. This transaction is accounted for as senior debt in which this bankruptcy protected entity holds all assets on its balance sheet, which collateralize the debt. In 2019, OppFi-LLC entered into a credit agreement with Midtown Madison Management LLC which required OppFi-LLC to create a bankruptcy protected entity named Opportunity Funding SPE V, LLC, a Delaware Limited Liability Company and a wholly owned subsidiary. Under the terms of the agreement, Opportunity Funding SPE V, LLC uses the proceeds from the credit facility to acquire receivables from OppFi-LLC and OppWin, LLC, which the lender receives first priority lien on all of the entity’s assets. OppFi-LLC continues to service the assets in accordance with the terms of the agreement but is required to maintain a backup servicing agreement. This transaction is accounted for as senior debt in which this bankruptcy protected entity holds all assets on its balance sheet, which collateralize the debt. In 2019, OppFi-LLC entered into a credit agreement with Ares Agent Services, L.P., an unrelated third party, which required OppFi-LLC to create a bankruptcy protected entity named Opportunity Funding SPE VI, LLC, a Delaware Limited Liability Company and a wholly owned subsidiary. Under the terms of the agreement, Opportunity Funding SPE VI, LLC uses the proceeds from the credit facility to acquire receivables from OppFi-LLC and OppWin, LLC, which the lender receives first priority lien on all of the entity’s assets. OppFi-LLC continues to service the assets in accordance with the terms of the agreement but is required to maintain a backup servicing agreement. This transaction is accounted for as senior debt in which this bankruptcy protected entity holds all assets on its balance sheet, which collateralize the debt. OppFi-LLC has entered into bank partnership arrangements with certain Utah-chartered banks (the “Banks”) insured by the FDIC. Under the terms and conditions of the agreement, the Banks originate finance receivables based on criteria provided by OppFi-LLC. After an initial holding period, OppFi-LLC has committed to acquire the participation rights to the finance receivables originated by the Banks. To facilitate these relationships, OppFi-LLC formed OppWin, LLC, a Delaware Limited Liability Company and a wholly-owned subsidiary of OppFi-LLC. OppWin, LLC acquires the participation rights in the economic interest in the finance receivables originated by the Banks. Subsequently, OppWin, LLC sells these rights to Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, Opportunity Funding SPE IV, LLC, Opportunity Funding SPE V, LLC and Opportunity Funding SPE VI, LLC, which in turn, pledge the participation rights to their respective lenders. The Company accounts for the participation rights as a finance receivable. As part of these bank partnership arrangements, the Banks have the ability to retain a percentage of the finance receivables they have originated. OppFi-LLC’s economic interest and acquired participation rights are reduced by the percentage retained by the Banks. Basis of presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and include the accounts of OppFi Inc. and OppFi-LLC with its wholly-owned subsidiaries (collectively, the “OppFi Subsidiaries”) as of September 30, 2021. The accompanying consolidated balance sheet as of December 31, 2020 is derived from OppFi-LLC’s annual audited financial statements. In the opinion of the Company’s management, the unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2021. The consolidated financial statements should be read in conjunction with OppFi-LLC’s audited consolidated financial statements and related notes for the year ended December 31, 2020 contained in OppFi’s Registration Statement on Form S-1, filed with the SEC on August 11, 2021, as amended. The Business Combination was accounted for as a reverse recapitalization in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations . Under this method, FGNA was treated as the “acquired” company, and OppFi-LLC, as the accounting acquirer, was assumed to have issued equity for the net assets of FGNA, accompanied by a recapitalization. Principles of consolidation: The consolidated financial statements include the accounts of the above named entities. Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, Opportunity Funding SPE IV, LLC, Opportunity Funding SPE V, LLC, Opportunity Funding SPE VI, LLC, Opportunity Funding SPE VII, LLC and SalaryTap Funding SPE, LLC are special purpose entities holding finance receivables secured by lenders under a credit or preferred return agreement. OppFi has identified Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, Opportunity Funding SPE IV, LLC, Opportunity Funding SPE V, LLC, Opportunity Funding SPE VI, LLC, Opportunity Funding SPE VII, LLC and SalaryTap Funding SPE, LLC as VIEs. OppFi-LLC is the sole equity member of all of the aforementioned entities, except for SalaryTap Funding SPE, LLC. SalaryTap, LLC is the sole equity member of SalaryTap Funding SPE, LLC. The Company directs the activities of the VIEs that most significantly impact economic performance. Additionally, the Company has the obligation to absorb losses of the VIEs that could potentially be significant. As the primary beneficiary of the VIEs, the Company has consolidated the financial statements of the VIEs. All significant intercompany transactions and balances have been eliminated in consolidation. Segments: Segments are defined as components of an enterprise for which discrete financial information is available and evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. OppFi’s Chief Executive Officer and Chief Financial Officer are collectively considered to be the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company’s operations constitute a single reportable segment. Use of estimates: The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions, including those impacted by COVID-19, that affect the reported amounts of assets, liabilities and operations and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The judgements, assumptions, and estimates used by management are based on historical experience, management’s experience and qualitative factors. The areas subject to significant estimation techniques are the determination of fair value of installment finance receivables and warrants, and the adequacy of the allowance for credit losses on finance receivables. For the aforementioned estimates, it is reasonably possible the recorded amounts or related disclosures could significantly change in the near future as new information is available. Income recognition: The Company recognizes finance charges on installment contracts and lines of credit based on the interest method. Under this method, interest is earned over the lives of the finance receivables to produce constant rates of interest (yields). Fees for returned payments approximate the cost of services provided and are recognized as incurred, assuming collectability is reasonably assured. The Company discontinues and reverses the accrual of interest income on installment contracts at the earlier of 60 days past due based on a recency basis or 90 days past due based on a contractual basis. The accrual of income is not resumed until the account is current on a recency or contractual basis, at which time management considers collectability to be probable. Cash and cash equivalents: The Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. All cash accounts are held in financially insured institutions, which may at times exceed federally insured limits. The Company has not experienced losses in such accounts. Management believes the Company’s exposure to credit risk is minimal for these accounts. Restricted cash: Restricted cash consists of the following: (1) cash required to be held on reserve by the Company’s vendors for purposes of loan processing or funding; (2) cash required to be held for the Company’s guaranty on finance receivables under the terms of the Credit Access Business and Credit Service Organization programs (collectively, the “CSO Program”); (3) cash required to be held in blocked accounts held by the VIEs; and (4) cash required to be held on deposit in connection with the bank partnership arrangements. All cash accounts are held in financially insured institutions, which may at times exceed federally insured limits. The Company has not experienced losses in such accounts. Management believes the Company’s exposure to credit risk is minimal for these accounts. CSO arrangements: In Texas and Ohio, OppFi-LLC previously arranged for consumers to obtain finance receivable products from independent third-party lenders as part of the CSO Program. For the consumer finance receivable products originated by the third-party lenders under the CSO Program, the lenders were responsible for providing the criteria by which the consumer's application was underwritten and, if approved, determining the amount of the finance receivable. When a consumer executed an agreement with OppFi-LLC under the CSO Program, OppFi-LLC agreed, for a fee payable to OppFi-LLC by the consumer, to provide certain services to the consumer, one of which was to guarantee the consumer's obligation to repay the finance receivable obtained by the consumer from the third-party lender if the consumer failed to do so. On April 23, 2019, the Company discontinued the CSO Program in Ohio, and no new finance receivables were originated through this program after that date. As of September 30, 2021, there were no finance receivables remaining under the CSO Program in Ohio. On March 19, 2021, the Company discontinued the CSO Program in Texas. As of September 30, 2021, there were no finance receivables remaining under the CSO Program in Texas. The guarantees represented an obligation to purchase specific finance receivables that are delinquent, secured by a collateral account established in favor of the respective lenders. As of December 31, 2020, the unpaid principal balance of off-balance sheet active finance receivables which were guaranteed by the Company was $19,722 thousand. Upon the election of the fair value option for installment loan finance receivables on January 1, 2021, the Company released the reserve for repurchase liabilities as the income rights and related losses were included in the valuation of finance receivables at fair value, which was included in the fair value adjustment to retained earnings. As of December 31, 2020, the Company recorded a reserve for repurchase liabilities of $4,241 thousand, which represents the liability for estimated losses on finance receivables guaranteed. The Company used a similar methodology for determining the reserve for repurchase liabilities as it does for calculating the allowance for credit losses on finance receivables. Under the terms of the CSO Program, the Company is required to maintain a restricted cash balance equal to the guaranty, which is determined and settled on a weekly basis. On a daily basis, a receivable and/or payable is recorded to recognize the outstanding settlement balance. As of September 30, 2021, there were no restricted cash balance held in a federally insured bank account related to the CSO Program. As of December 31, 2020, the restricted cash balance held in a federally insured bank account related to the CSO Program was $3,069 thousand. As of September 30, 2021, there were no outstanding settlement balance related to the CSO Program. As of December 31, 2020, there was a payable balance of $784 thousand, related to settlement which was included in accrued expenses on the consolidated balance sheets. Participation rights purchase obligations : OppFi-LLC has entered into bank partnership arrangements with certain Banks insured by the FDIC. Under the terms and conditions of the bank partnership agreements, the Banks originate finance receivables based on criteria provided by OppFi-LLC. The issuing Bank earns interest during an initial hold period and owns the economic interest in the finance receivables. After the initial holding period, OppFi-LLC is committed to acquire participation rights in the economic interest in the finance receivables originated by the Banks, net of bank partnership retention, plus accrued interest (“Participation Rights”). OppFi-LLC also provides certain services for these receivables in its capacity of sub-servicer pursuant to the terms of the servicing agreement between the Bank and OppFi-LLC. To facilitate these relationships, OppFi-LLC formed OppWin, LLC, which acquires the Participation Rights and sells these rights to certain of the other OppFi Subsidiaries, which in turn, pledge the participation rights to their respective lenders. The Company accounts for the Participation Rights as a finance receivable. As part of these bank partnership arrangements, the Banks have the ability to retain a percentage of the finance receivables they have originated, and OppFi-LLC’s Participation Rights are reduced by the percentage of the finance receivables retained by the Banks. For the nine months ended September 30, 2021 and 2020, finance receivables originated through the bank partnership arrangements totaled 88% and 61%, respectively. As of September 30, 2021 and December 31, 2020, the unpaid principal balance of finance receivables outstanding for purchase was $7,976 thousand and $3,307 thousand, respectively. Finance receivables: Prior to January 1, 2021, finance receivables, which management has the intent and ability to hold for the foreseeable future or until maturity or payoff, are reported based on outstanding unpaid principal balance net of accrued interest and fees, unamortized loan origination costs and the allowance for credit losses. On January 1, 2021, the Company elected the fair value option on its installment finance receivables. Accordingly, the related finance receivables are carried at fair value in the consolidated balance sheets and the changes in fair value are included in the consolidated statements of operations. To derive the fair value, the Company generally utilizes discounted cash flow analyses that factor in estimated losses and prepayments over the estimated duration of the underlying assets. Loss and prepayment assumptions are determined using historical loss data and include appropriate consideration of recent trends and anticipated future performance. Future cash flows are discounted using a rate of return that the Company believes a market participant would require. Accrued interest and fees are included in “Finance receivables at fair value” in the consolidated balance sheets. Interest income is included in “Interest and loan related income, net” in the consolidated statements of operations. The Company did not elect the fair value option on its SalaryTap and OppFi Card finance receivables as these products launched in November 2020 and August 2021, respectively, and inputs for fair value are not yet determined. Accordingly, the related finance receivables are carried at amortized cost, net of allowance for credit losses. Loan origination costs: Direct costs incurred for the origination of finance receivables are deferred and amortized over the average life of the customer using the straight-line method. Prior to the election of the fair value option of its installment loans, direct costs incurred for the origination of these finance receivables included underwriting fees, employee salaries and benefits directly related to the origination of the loan and program fees. Loan origination costs also included direct costs incurred for directly acquiring a customer; these costs are deferred and amortized over the average life of the customer using the straight-line method. With the election of the fair value option, loan origination costs related to the origination of installment finance receivables are expensed when incurred. Allowance for credit losses on finance receivables: Prior to the adoption of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financia l Instruments , on January 1, 2021, the Company used a static pool methodology for determining the adequacy of the allowance for credit losses on all finance receivables. Under the static pool methodology, a provision for credit losses on finance receivables was recorded when the allowance for credit losses was determined to be insufficient to absorb estimated losses. Such provisions were charged to income in amounts sufficient to maintain the allowance for losses on finance receivables at an adequate level. The allowance was an amount that management believed would be adequate to absorb estimated losses on existing finance receivables based on an evaluation of the collectability of the finance receivables and prior loss experience. This evaluation also took into consideration such factors as changes in the nature and volume of the finance receivable portfolio, overall portfolio quality and current economic conditions that may affect the borrower's ability to pay. While management used the best information available to make its evaluation, future adjustments to the allowance may be necessary if there are significant changes in any of the factors. The Company’s charge-off policy is based on a review of delinquent finance receivables on a loan by loan basis. Finance receivables are charged off at the earlier of the time when accounts reach 90 days past due on a recency basis, when the Company receives notification of a customer bankruptcy, or is otherwise deemed uncollectible. The allowance consists of quantitative and qualitative factors. The quantitative factors are based on historical charge-off experience. The qualitative factors are determined based on management’s assessment of internal and/or external influences on credit quality that are not fully reflected in the historical losses. Finance receivables are considered small balance homogeneous receivables and are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual small balance homogeneous receivables for impairment disclosures, unless such receivables are the subject of a restructuring agreement. Effective January 1, 2021, the Company adopted ASU 2016-13. The amendments in ASU 2016-13 replaced the Company’s incurred loss impairment methodology with the current expected credit losses (“CECL”) methodology. Under the CECL methodology, the Company determines the allowance for credit losses considering all anticipated credit losses over the remaining expected life of its SalaryTap and OppFi Card finance receivables. The Company obtained and will continue to leverage competitive data for determining the anticipated credit losses of its SalaryTap and OppFi Card finance receivables until sufficient Company performance data exists. Delinquency: The Company determines the past due status on a recency basis, which is defined as the last time a qualifying payment is made on an account. Finance receivables are considered delinquent at 30 days or more past due. Prior to May 2020, a qualifying payment was considered to be 50% of the scheduled payment. In May 2020, the policy was changed to consider 90% of the scheduled payment as a qualifying payment. Troubled debt restructurings: As the terms of the receivables are typically not renegotiated and settlement offers are not typically made until after a receivable stops accruing interest income (up to 60 days delinquent), the only receivables considered to be impaired, or troubled debt restructurings, are: 1) those receivables where a settlement offer is made after receivables cease accruing interest, which may result in a modification of contractual terms, 2) the Company has received notification that a borrower is working with a third party to settle debt on his/her behalf and 3) customers who have entered into the Company’s short-term or long-term hardship programs. As of September 30, 2021 and December 31, 2020, management determined the balance of troubled debt restructuring receivables to be immaterial to the consolidated financial statements as a whole. As such, substantially all disclosures relating to impaired finance receivables, and troubled debt restructuring, have been omitted from these consolidated financial statements. Property and equipment: Furniture, equipment, and leasehold improvements are stated at cost. Depreciation and amortization of furniture, equipment, and leasehold improvements are computed under both straight-line and accelerated methods for financial reporting and income tax purposes, based on the estimated useful lives of the assets which range from three Capitalized technology: Software development costs related to internal use software are incurred in three stages of development: the preliminary project stage, the application development stage, and the post-implementation stage. Costs incurred during the preliminary project and post-implementation stages are expensed as incurred. Costs incurred during the application development stage that meet the criteria for capitalization are capitalized and amortized, when the software is ready for its intended use, using the straight-line basis, over the estimated useful life of the software. The Company capitalized software costs associated with application development totaling $3,823 thousand and $2,346 for the three months ended September 30, 2021 and 2020, respectively, and $9,896 thousand and $6,470 thousand for the nine months ended September 30, 2021 and September 30, 2020, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $2,468 thousand and $1,579 thousand for the three months ended September 30, 2021 and 2020, respectively, and $6,588 thousand and $4,229 thousand for the nine months ended September 30, 2021 and 2020, respectively. Debt issuance costs: Debt issuance costs are capitalized and amortized based on the contractual terms of the related debt agreements using the interest method for fixed-term debt and the straight-line method for all other debt. Transfer and servicing of financial assets: After a transfer of financial assets, an entity recognizes the financial and servicing assets it controls and the liabilities it has incurred, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. The transfers of assets for debt purposes have been accounted for as secured and senior borrowings and the related assets and borrowings are retained on the consolidated balance sheets and no gain or loss has been recognized in the consolidated statements of operations. Stock-based compensation: The Company measures stock-based compensation expense based on the fair value of awards as determined on the date of the grant. The Company recognizes stock-based compensation expense over the requisite service period. The Company accounts for forfeitures when they occur. The Company uses the Black-Scholes-Merton (“Black-Scholes”) option-pricing model to determine the estimated fair value of stock option and other stock-based awards. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of stock options and other stock awards. Earnings per share: The Company calculates basic and diluted earnings per share attributable to common stockholders required for companies with participating securities. Basic net income per share available to stockholders was calculated by dividing the net income available to stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share available to stockholders was computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. In periods in which the Company reports a net loss available to stockholders, diluted net loss per share available to stockholders would be the same as basic net loss per share available to stockholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. Warrants: Public Warrants, $11.50 Exercise Price Warrants, $15 Exercise Price Warrants, Private Placement Warrants and Underwriter Warrants do not meet the criteria for equity treatment, due to a provision in the warrant agreement governing such warrants (the “Warrant Agreement”) related to certain tender or exchange offer provisions, each warrant must be recorded as a liability. Accordingly, the Company classifies each warrant as a liability at its fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statement of operations. The Public Warrants are valued at market price based on a quoted price in an active market. The Company utilizes a Monte Carlo simulation model to value the outstanding private placement warrants (“Private Placement Warrants”) issued in connection with FGNA’s initial public offering (the “IPO”) at each reporting period. Tax receivable agreement liability: In connection with the Business Combination, OppFi entered into the Tax Receivable Agreement ("TRA") with the Members and the Members’ Representative. The TRA provides for payment to the Members of 90% of the U.S. federal, state and local income tax savings realized by the Company as a result of the increases in tax basis and certain other tax benefits related to the transactions contemplated under the Business Combination Agreement and the exchange of Retained OppFi Units for Class A Common Stock or cash. OppFi-LLC will have in effect an election under Section 754 of the Internal Revenue Code effective for each taxable year in which an exchange of Retained OppFi Units occurs. The remaining 10% cash tax savings resulting from the basis adjustments will be retained by the Company. In general, cash tax savings result in a year when the tax liability of the Company for the year, computed without regard to the deductions attributable to the amortization or depreciation of the basis increase and other deductions that arise in connection with the payment of the cash consideration under the TRA or the exchange of Retained OppFi Units for Class A Common Stock, would be more than the tax liability for the year taking into account such deductions. Payments under the TRA will not be due until the Company is able to reduce an actual cash tax liability by the amortization of the basis increase on a filed tax return. The payments under the TRA are expected to be substantial. The Company accounts for the effects of the basis increases as follows: • records an increase in deferred tax assets for the income tax effects of the increases in tax basis based on enacted federal and state income tax rates at the date of the exchange; • the Company evaluates the ability to realize the full benefit represented by the deferred tax asset based on an analysis that will consider expectations of future earnings among other things. If the Company determines that the full benefit is not likely to be realized, a valuation allowance is established to reduce the amount of the deferred tax assets to an amount that is likely to be realized. The Company records obligations under the TRA at the gross undiscounted amount of the expected future pay

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2021
Reverse Recapitalization [Abstract]
Business Combination	Business Combination On the Closing Date, OppFi completed the Business Combination with OppFi-LLC pursuant to the Business Combination Agreement. Pursuant to ASC 805, the Business Combination was accounted for as a reverse recapitalization, where FGNA was treated as the “acquired” company and OppFi-LLC, as the accounting acquirer. OppFi-LLC was assumed to have issued equity for the net assets of FGNA, accompanied by a recapitalization. Under this method of accounting, the pre-Business Combination consolidated financial statements of the Company are the historical financial statements of OppFi-LLC. The net assets, consisting of cash, prepaid expenses, accounts payable, and warrant liability, of FGNA were stated at fair value, with no goodwill or other intangible assets recorded in accordance with GAAP and are consolidated with OppFi-LLC’s financial statements on the Closing Date. At the Closing, (i) OppFi-LLC transferred to the Company 12,977,690 OppFi Units, which was equal to the number of shares of Class A Common Stock issued and outstanding as of immediately prior to the Closing (after giving effect to redemptions by FGNA’s public stockholders prior to the Closing and the conversion of FGNA’s Class B common stock, par value $0.0001 per share (“Class B Common Stock”)), (ii) FGNA contributed the Cash Consideration (as defined below) to OppFi-LLC in accordance with the Business Combination Agreement, which was distributed to the Members, and (iii) FGNA issued 96,987,093 shares of newly authorized Class V Voting Stock, which number of shares of Class V Voting Stock was equal to the number of Retained OppFi Units. The aggregate value of the consideration paid to the Members in the Business Combination was approximately $806,517 thousand, after giving effect to the estimated purchase price adjustments as set forth in the Business Combination Agreement, consisting of: (i) cash consideration in the amount of $91,646 thousand (the “Cash Consideration”), equal to the cash remaining in FGNA’s trust account as of immediately prior to the Closing and (ii) 96,987,093 shares of Class V Voting Stock. Immediately after giving effect to the Business Combination, there were 12,977,690 issued and outstanding shares of Class A Common Stock (giving effect to shares redeemed in connection with the Business Combination and 3,443,750 shares of Class A Common Stock issued upon the conversion of the Class B Common Stock). Shortly after, and as a result of the Business Combination, a lender converted its OppFi Units, resulting in an additional 486,852 shares of Class A Common Stock issued and outstanding for a total of 13,464,542 shares of Class A Common Stock issued and outstanding at September 30, 2021. On the business day following the Closing, FGNA’s public units automatically separated into their component securities upon consummation of the Business Combination and, as a result, no longer trade as a separate security and were delisted from the NYSE. In connection with the Closing, on the Closing Date, 25,500,000 Retained OppFi Units (“Earnout Units”) held by the Members, and an equal number of shares of Class V Voting Stock distributed to OFS in connection with the Business Combination, are subject to certain restrictions and potential forfeiture pending the achievement (if any) of certain earnout targets pursuant to the terms of the Business Combination Agreement. But for restrictions related to a lock-up (transfer restrictions) and forfeiture (earnout criteria), as such restrictions are more specifically set forth in the Investor Rights Agreement entered into at the Closing, by and among the Company, certain founder holders of FGNA, the Members, the Members’ Representative and/or the OppFi A&R LLCA, as applicable, the Earnout Units have all other economic and voting rights of the other units of OppFi-LLC. With respect to transfers, the Earnout Units are subject to a lock-up until the later of the end of the lock-up period applicable to other OppFi Units or until such Earnout Units are earned in accordance with the Business Combination Agreement. With respect to distributions (other than tax distributions, which in respect of such Earnout Units are treated the same as any other OppFi Unit in accordance with the OppFi A&R LLCA) in relation to the Earnout Units, such distributions (other than tax distributions) are held back until the Earnout Units are earned. If an Earnout Unit is not earned, and therefore forfeited, related distributions are distributed to the other holders of units at such time. In connection with the Business Combination, the Company incurred direct and incremental costs of approximately $30,551 thousand, consisting primarily of investment banking, legal, accounting and other professional fees, of which $21,591 thousand were recorded as a reduction of additional paid-in capital in the accompanying consolidated balance sheets. As a result of the Business Combination, OppFi organized as a C corporation, owns an equity interest in OppFi-LLC in what is commonly referred to as an “Up-C” structure. OppFi-LLC is treated as a partnership for U.S. federal and state income tax purposes. Accordingly, for U.S. federal and state income tax purposes, all income, losses, and other tax attributes pass through to the members’ income tax returns, and no U.S. federal and state and local provision for income taxes has been recorded for these entities in the consolidated financial statements. As a result of the Up-C structure, noncontrolling interests are held by the Members who retained 87.8% of the economic ownership percentage of OppFi-LLC as of September 30, 2021. The Company classifies the noncontrolling interests as a component of stockholders’ equity in the consolidated balance sheets. In connection with the Business Combination, OppFi entered into the TRA with the Members and the Members’ Representative. The TRA provides for payment to the Members of 90% of the U.S. federal, state and local income tax savings realized by the Company as a result of the increases in tax basis and certain other tax benefits related to the transactions contemplated under the Business Combination Agreement and the exchange of Retained OppFi Units for Class A Common Stock or cash.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Finance Receivables	Finance Receivables Finance receivables at fair value: The components of installment finance receivables at fair value as of September 30, 2021 were as follows (in thousands): Unpaid principal balance of finance receivables - accrual $ 272,678 Unpaid principal balance of finance receivables - non-accrual 19,198 Unpaid principal balance of finance receivables $ 291,876 Finance receivables at fair value - accrual $ 323,931 Finance receivables at fair value - non-accrual 941 Finance receivables at fair value, excluding accrued interest and fees receivable 324,872 Accrued interest and fees receivable 9,242 Finance receivables at fair value $ 334,114 Difference between unpaid principal balance and fair value $ 32,996 The Company’s policy is to discontinue and reverse the accrual of interest income on installment finances receivables at the earlier of 60 days past due on a recency basis or 90 days past due on a contractual basis. As of September 30, 2021 and December 31, 2020 the aggregate unpaid principal balance and fair value of installment finance receivables 90 days or more past due was $9,979 thousand and $489 thousand, respectively. Changes in the fair value of installment finance receivables at fair value during the three months ended September 30, 2021 were as follows (in thousands): Balance at the beginning of the period $ 296,381 Originations of principal 155,055 Repayments of principal (98,202) Accrued interest and fees receivable (180) Charge-offs, net (1) (24,891) Net change in fair value (1) 5,951 Balance at the end of the period $ 334,114 (1) Included in "Change in fair value of finance receivables" in the Consolidated Statements of Operations. Changes in the fair value of installment finance receivables at fair value during the nine months ended September 30, 2021 were as follows (in thousands): Balance at the beginning of the period $ 289,166 Originations of principal 401,373 Repayments of principal (303,305) Accrued interest and fees receivable 1,332 Charge-offs, net (1) (62,046) Adjustment to fair value (1,817) Net change in fair value (1) 9,411 Balance at the end of the period $ 334,114 (1) Included in "Change in fair value of finance receivables" in the Consolidated Statements of Operations. Finance receivables at amortized cost, net: Prior to January 1, 2021, the Company carried all finance receivables at amortized cost, including accrued interest and fees, unamortized loan origination costs, and allowance for credit losses. On January 1, 2021, the Company elected the fair value option for its installment finance receivables. The Company did not elect the fair value option for its SalaryTap and OppFi Card finance receivables, which are carried at amortized cost. The components of finance receivables carried at amortized cost as of September 30, 2021 and December 31, 2020 were as follows (in thousands): September 30, 2021 December 31, 2020 Finance receivables $ 1,402 $ 255,943 Accrued interest and fees 13 7,910 Unamortized loan origination costs — 13,421 Allowance for credit losses (146) (55,031) Finance receivables at amortized cost, net $ 1,269 $ 222,243 Changes in the allowance for credit losses on finance receivables during the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands): For The Three Months Ended September 30, 2021 September 30, 2020 Beginning balance $ 11 $ 43,858 Provisions for credit losses on finance receivables 143 16,303 Finance receivables charged off (8) (15,277) Recoveries of charge offs — 2,650 Ending balance $ 146 $ 47,534 For The Nine Months Ended September 30, 2021 September 30, 2020 Beginning balance $ 55,031 $ 53,146 Effects of adopting fair value option (55,031) — Provisions for credit losses on finance receivables 181 56,136 Finance receivables charged off (35) (70,073) Recoveries of charge offs — 8,325 Ending balance $ 146 $ 47,534 Changes in the reserve for repurchase liability for third-party lender losses were as follows for the three months ended September 30, 2020 (in thousands): Beginning balance, June 30, 2020 $ 3,180 Provision for repurchase liabilities 1,577 Finance receivables charged off (1,427) Recoveries of charge offs 194 Ending balance, September 30, 2020 $ 3,524 Changes in the reserve for repurchase liability for third-party lender losses were as follows for the nine months ended September 30, 2020 (in thousands): Beginning balance, December 31, 2019 $ 4,978 Provision for repurchase liabilities 6,619 Finance receivables charged off (8,772) Recoveries of charge offs 699 Ending balance, September 30, 2020 $ 3,524 The Company released the reserve for repurchase liability for third-party lender losses on January 1, 2021 upon election of the fair value option for its installment finance receivables. As such, there was no reserve for repurchase liability for third-party losses as of January 1, 2021 and thereafter. The following is an assessment of the credit quality of finance receivables at amortized cost and presents the recency delinquency and contractual delinquency of the finance receivable portfolio as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 1,368 $ 1,378 $ 240,623 $ 220,438 Delinquency 30-59 days 44 34 7,760 12,574 60-89 days 3 3 7,560 9,852 90+ days — — — 13,079 Total delinquency 47 37 15,320 35,505 Finance receivables $ 1,415 $ 1,415 $ 255,943 $ 255,943 In accordance with the Company’s income recognition policy, finance receivables in non-accrual status as of September 30, 2021 and December 31, 2020 was $3 thousand and $19,277 thousand, respectively. There were no finance receivables guaranteed by the Company under the CSO Program which were greater than 90 days past due as of September 30, 2021 and December 31, 2020, which had not already been repurchased by the Company and included in the totals above.

Property, Equipment and Softwar

Property, Equipment and Software, Net	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, Equipment and Software, Net Property, equipment and software consisted of the following (in thousands): September 30, 2021 December 31, 2020 Capitalized technology $ 30,804 $ 20,908 Furniture, fixtures and equipment 3,769 3,228 Leasehold improvements 979 862 Total property, equipment and software 35,552 24,998 Less accumulated depreciation and amortization (21,725) (14,440) Property, equipment and software, net $ 13,827 $ 10,558

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Borrowings	Borrowings The following is a summary of the Company’s borrowings (in thousands): Purpose Borrower Borrowing Capacity September 30, 2021 December 31, 2020 Interest Rate as of Maturity Date Secured borrowing payable Opportunity Funding SPE II, LLC $ 38,036 $ 19,791 $ 16,025 15.00% December 2021 Senior debt Revolving line of credit OppFi-LLC $ — $ — $ 5,000 LIBOR plus 2.50% February 2022 Revolving line of credit Opportunity Funding SPE III, LLC 175,000 87,500 59,200 LIBOR plus 6.00% January 2024 Revolving line of credit Opportunity Funding SPE V, LLC 75,000 37,500 24,222 LIBOR plus 7.25% April 2023 Revolving line of credit Opportunity Funding SPE VI, LLC 50,000 25,000 16,148 LIBOR plus 7.25% April 2023 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC 45,000 7,500 12,506 LIBOR plus 3.85% February 2024 Total revolving lines of credit 345,000 157,500 117,076 Term loan, net OppFi-LLC 50,000 48,468 14,650 LIBOR plus 10.00% March 2025 Total senior debt $ 395,000 $ 205,968 $ 131,726 Subordinated debt - related party OppFi-LLC $ — $ — $ 4,000 14.00% (1) December 2023 Other debt OppFi-LLC $ — $ — $ 6,354 1.00% (2) April 2022 (1) Interest rate as of 12/31/2020 and for the subsequent period thru and until loan was repaid (2) Interest rate as of 12/31/2020 and for the subsequent period thru and until loan was forgiven Secured borrowing payable: During 2017, Opportunity Funding SPE II, LLC entered into a preferred return agreement with Midtown Madison Management LLC. Per the terms of the agreement, the finance receivables are grouped into quarterly pools. Collections are distributed on a pro rata basis after the payout of expenses to back-up servicer, servicer and other relevant parties. This agreement is secured by the assets of Opportunity Funding SPE II, LLC. The receivables are transferred to Opportunity Funding SPE II, LLC and OppWin LLC by OppFi-LLC, which has provided representations and warranties in connection with such sale. The agreement is subject to various financial covenants. During 2018, the SPE II, LLC preferred return agreement was amended. Opportunity Funding SPE II, LLC sells a 97.5 percent interest of certain unsecured finance receivables to the unrelated third party. Per the revised agreement, the unrelated third party earns a preferred return of 15.0 percent and a performance fee after the preferred return has been satisfied. The initial agreement expired August 1, 2018 and was then extended for one year. The agreement provides for two consecutive options to renew the purchase period for eighteen months. The unrelated third party exercised the first option, which provides a $65,000 thousand purchase commitment by the unrelated third party. After satisfaction of the purchase commitment, the agreement provides for a third option for an additional $100,000 thousand purchase commitment. In May 2020, the SPE II, LLC preferred return agreement was amended. Midtown Madison Management LLC exercised the option, which provides an additional $100,000 thousand purchase commitment, resulting in a total $165,000 thousand purchase commitment by the unrelated third party, of which $126,964 thousand and $79,816 thousand of finance receivables have been purchased with an active secured borrowing balance of $19,791 thousand and $16,025 thousand as of September 30, 2021 and December 31, 2020, respectively. Interest expense related to secured borrowings was $655 thousand and $475 thousand for the three months ended September 30, 2021 and 2020, respectively, and $2,027 thousand and $1,585 thousand for the nine months ended September 30, 2021 and 2020, respectively. Additionally, the Company has capitalized $168 thousand in debt issuance costs related to secured borrowings. Amortized debt issuance costs related to secured borrowings were $4 thousand and $13 thousand for the three months ended September 30, 2021 and 2020, respectively, and $29 thousand and $38 thousand for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021, there were no unamortized debt issuance costs related to secured borrowings. As of December 31, 2020, the remaining balance of unamortized debt issuance costs related to secured borrowings was $30 thousand.. Senior debt: On August 13, 2018, OppFi-LLC entered into a corporate credit agreement with TCS Global Holdings, L.P., which provided a maximum available amount of $10,000 thousand. Interest was payable monthly. The facility was secured by OppFi-LLC’s assets and certain brokerage assets made available by the Schwartz Capital Group (SCG), a related party. The agreement was subject to various financial covenants. On August 6, 2020, the corporate credit agreement was amended, and the maturity date was extended to February 2022. On March 23, 2021, the borrowings under this revolving credit agreement were paid in full. Subsequent to repayment, OppFi-LLC terminated the revolving credit agreement. Interest expense paid related to the revolving credit agreement totaled $39 thousand for the three months ended September 30, 2020. Interest expense paid related to the revolving credit agreement totaled $35 thousand and $123 thousand for the nine months ended September 30, 2021 and 2020, respectively. Additionally, the Company has capitalized $294 thousand in debt issuance costs in connection with this transaction. For the three months ended September 30, 2021, there were no amortized debt issuance costs. Amortized debt issuance costs were $3 thousand for the three months ended September 30, 2020. For the nine months ended September 30, 2021 and 2020, amortized debt issuance costs were $21 thousand and $19 thousand, respectively. As of December 31, 2020, the remaining balance of unamortized debt issuance costs associated with the facility was $21 thousand. On January 23, 2018, Opportunity Funding SPE III, LLC entered into a revolving line of credit agreement with Ares Agent Services, L.P. that provides maximum borrowings of $75,000 thousand. Interest is payable monthly. Borrowings are secured by the assets of Opportunity Funding SPE III, LLC. OppFi-LLC provides certain representations and warranties. The line of credit agreement is subject to a borrowing base threshold and various financial covenants, including maintaining a minimum tangible net worth and maximum senior debt to equity. On January 31, 2020, the revolving line of credit agreement was amended to increase the aggregate commitment to $175,000 thousand. The amendment also changed the interest rate to one-month LIBOR plus 6 percent with a 2 percent LIBOR floor. The agreement matures in January 2024. Interest expense related to this facility was $1,908 thousand and $1,514 thousand for the three months ended September 30, 2021 and 2020, respectively, and $5,094 thousand and $6,051 thousand for the nine months ended September 30, 2021 and 2020, respectively. Additionally, the Company has capitalized $2,100 thousand in debt issuance costs in connection with this transaction. Amortized debt issuance costs were $177 thousand and $171 thousand for the three months ended September 30, 2021 and 2020, respectively, and $530 thousand and $565 thousand for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021 and December 31, 2020, the remaining balance of unamortized debt issuance costs associated with the facility was $942 thousand and $1,453 thousand, respectively. In April 2019, Opportunity Funding SPE V, LLC entered into a revolving line of credit agreement with Midtown Madison Management LLC (the “OppFi-LLC Midtown Credit Agreement”) that provides maximum borrowings of $75,000 thousand. Interest is payable monthly. Borrowings are secured by the assets of Opportunity Funding SPE V, LLC. OppFi-LLC provides certain representations and warranties related to the debt. The line of credit agreement is subject to a borrowing base and various financial covenants, including maintaining a minimum tangible net worth and restrictions related to dividend payments. Interest expense related to this facility was $966 thousand and $742 thousand for the three months ended September 30, 2021 and 2020, respectively, and $2,531 thousand and $2,742 thousand for the nine months ended September 30, 2021 and 2020, respectively. Additionally, the Company has capitalized $1,158 thousand in debt issuance costs in connection with this transaction. Amortized debt issuance costs were $106 thousand and $100 thousand for the three months ended September 30, 2021 and 2020, respectively, and $318 thousand and $283 thousand for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021 and December 31, 2020, the remaining balance of unamortized debt issuance costs associated with this facility was $230 thousand and $538 thousand, respectively. In April 2019, Opportunity Funding SPE VI, LLC entered into a revolving line of credit agreement with Ares Agent Services, L.P. that provides maximum borrowings of $50,000 thousand. Interest is payable monthly. Borrowings are secured by the assets of Opportunity Funding SPE VI, LLC. OppFi-LLC provides certain representations and warranties related to the debt. The line of credit agreement is subject to a borrowing base and various financial covenants, including maintaining a minimum tangible net worth and restrictions related to dividend payments. Interest expense related to this facility was $644 thousand and $494 thousand for the three months ended September 30, 2021 and 2020, respectively, and $1,688 thousand and $1,843 thousand for the nine months ended September 30, 2021 and 2020, respectively. Additionally, the Company has capitalized $918 thousand in debt issuance costs in connection with this transaction. Amortized debt issuance costs were $83 thousand and $76 thousand for the three months ended September 30, 2021 and 2020, respectively, and $247 thousand and $227 thousand for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021 and December 31, 2020, the remaining balance of unamortized debt issuance costs associated with this facility were $178 thousand and $425 thousand, respectively. In August 2019, Opportunity Funding SPE IV, LLC entered into a revolving line of credit agreement with BMO Harris Bank N.A. that provides maximum borrowings of $25,000 thousand. Interest is payable monthly. Borrowings are secured by the assets of Opportunity Funding SPE IV, LLC. OppFi-LLC provides certain representations and warranties related to the debt, as well as an unsecured guaranty. The line of credit agreement is subject to a borrowing base and various financial covenants, including maintaining a minimum tangible net worth and restrictions related to dividend payments. On September 30, 2021, the revolving line of credit agreement was amended to increase the aggregate commitment to $45,000 thousand. The amended agreement added SalaryTap Funding SPE, LLC as an additional borrower to the facility. SalaryTap Funding SPE, LLC will pledge SalaryTap receivables as eligible collateral. The amendment also changed the interest rate from LIBOR plus 4.25% to LIBOR plus 3.85% with a 0.4% LIBOR floor, and the amended agreement matures in February 2024. For SalaryTap Funding SPE, LLC, the Company capitalized $250 thousand in debt issuance costs in connection with the September 30, 2021 amendment. As of September 30, 2021, the remaining balance of unamortized debt issuance costs associated with this facility was $250 thousand Interest expense related to this facility was $110 thousand and $104 thousand for the three months ended September 30, 2021 and 2020, respectively, and $332 thousand and $401 thousand for the nine months ended September 30, 2021 and 2020, respectively. Additionally, the Company has capitalized $626 thousand in debt issuance costs in connection with this transaction. Amortized debt issuance costs were $93 thousand and $52 thousand for the three months ended September 30, 2021 and 2020, respectively, and $308 thousand and $148 thousand for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021 and December 31, 2020, the remaining balance of unamortized debt issuance costs associated with this facility was $50 thousand and $131 thousand, respectively. In November 2018, OppFi-LLC entered into a $25,000 thousand senior secured multi-draw term loan agreement with Midtown Madison Management LLC (the “OppFi-LLC Midtown Term Loan Agreement”), which is secured by a senior secured claim on OppFi-LLC’s assets and a second lien interest in the receivables owned by Opportunity Funding SPE III, LLC, Opportunity Funding SPE V, LLC, and Opportunity Funding SPE VI, LLC. Interest is payable monthly. The loan agreement is subject to various financial covenants. Per the terms of the loan agreement, OppFi-LLC had issued warrants to the lender. In April 2020, OppFi-LLC exercised an option to increase the facility commitment amount to $50,000 thousand. On March 23, 2021, the senior secured multi-draw term loan agreement was amended to decrease the interest rate from LIBOR plus 14% to LIBOR plus 10% and extend the maturity date to March 23, 2025. On March 30, 2021, OppFi-LLC drew the remaining $35,000 thousand available commitment. As of September 30, 2021, the outstanding balance of $50,000 thousand was net of unamortized debt issuance costs of $1,532 thousand. There was no unamortized discount as of September 30, 2021. As of December 31, 2020, the outstanding balance of $15,000 thousand was net of unamortized discount of $19 thousand and unamortized debt issuance costs of $331 thousand. Interest expense related to this facility was $1,546 thousand and $670 thousand for the three months ended September 30, 2021 and 2020, respectively, and $3,738 thousand and $1,965 thousand for the nine months ended September 30, 2021 and 2020, respectively. Additionally, the Company has capitalized $2,295 thousand in debt issuance costs in connection with this transaction. Amortized debt issuance costs were $109 thousand and $59 thousand for the three months ended September 30, 2021 and 2020, respectively, and $282 thousand and $171 thousand for the nine months ended September 30, 2021 and 2020, respectively. Subordinated debt - related party: OppFi-LLC previously had an unsecured line of credit agreement with SCG, a related party, with a maximum available amount of $4,000 thousand. Interest due on this facility is paid quarterly, and the outstanding balance is due at maturity. Subordinated debt is subject to the same debt covenants as senior debt facilities. On March 30, 2021, the borrowings under this unsecured line of credit agreement were paid in full. Interest expense related to this related party transaction was $141 thousand for the three months ended September 30, 2020. Interest expense was $137 thousand and $420 thousand for the nine months ended September 30, 2021 and 2020, respectively. Other debt: On April 13, 2020, OppFi-LLC obtained an unsecured loan in the amount of $6,354 thousand from BMO Harris Bank N.A. in connection with the U.S. Small Business Administration’s (“SBA”) Paycheck Protection Program (the “PPP Loan”). Pursuant to the Paycheck Protection Program, all or a portion of the PPP Loan was forgivable if OppFi used the proceeds of the PPP Loan for its payroll costs and other expenses in accordance with the requirements of the Paycheck Protection Program. OppFi-LLC used the proceeds of the PPP Loan for payroll costs and other covered expenses. On November 14, 2020, OppFi-LLC submitted the forgiveness application to the SBA. On September 13, 2021, the Company was notified that the SBA had forgiven repayment of the entire PPP Loan, which consisted of $6,354 thousand in principal and $90 thousand of accrued interest. The Company recorded the entire amount of the forgiven principal and accrued interest as other income in its statement of operations during the quarter ended September 30, 2021. As of September 30, 2021, there was no outstanding balance for the PPP Loan. Interest accrued and expensed related to this unsecured loan through the date of forgiveness was $13 thousand for the three months ended September 30, 2021 and $90 thousand for the nine months ended September 30, 2021. The SBA reserves the right to audit any PPP Loan, for eligibility and other criteria, regardless of size. These audits may occur after forgiveness has been granted. In accordance with the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), all borrowers are required to maintain their PPP loan documentation for six years after the PPP Loan was forgiven and to provide that documentation to the SBA upon request. As of September 30, 2021, required payments for all borrowings, excluding secured borrowing and revolving lines of credit, for each of the next five years are as follows (in thousands): Year Amount Remainder of 2021 $ — 2022 — 2023 — 2024 — 2025 50,000 Total $ 50,000

Warrants

Warrants	9 Months Ended
	Sep. 30, 2021
Warrants and Rights Note Disclosure [Abstract]
Warrants	Warrants Warrant units: In November 2018, in conjunction with OppFi-LLC entering into a senior secured multi-draw term loan, OppFi-LLC issued warrant units to the lender. The fair value of the warrant units was estimated using an option pricing model that used the following assumptions: December 31, 2020 Expected term 3 years Volatility 52.0 % Discount for lack of marketability 45.0 % Risk free rate 0.2 % The total proceeds were allocated on a relative fair value basis to the two instruments issued in conjunction and the amount allocated to the warrant units also represented a discount to the debt which is being amortized into interest expense over the term of the agreement. As of December 31, 2020, the fair value of the warrant unit liability was $1,309 thousand and is included in accrued expenses in the consolidated balance sheets. Prior to the Closing, the lender exercised the warrant units; accordingly, the warrant unit liability was remeasured to fair value. The fair value of the warrant unit liability was $5,517 thousand and was reclassified to additional paid-in capital. After the lender exercised the warrant units, there were no warrant units outstanding thereafter. Public Warrants: As of September 30, 2021, there were 11,887,500 Public Warrants outstanding. Each whole Public Warrant entitles the registered holder to purchase one whole share of Class A Common Stock at a price of $11.50 per share. Pursuant to the Warrant Agreement, a holder of Public Warrants may exercise its warrants only for a whole number of shares of Class A Common Stock. This means that only a whole warrant may be exercised at any given time by a warrant holder. The Public Warrants will expire on July 20, 2026, five years after the Closing Date, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. The Company may redeem the Public Warrants under the following conditions: • In whole and not in part; • At a price of $0.01 per warrant; • Upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each warrant holder; and • If, and only if, the reported last sale price of the Class A Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders. The last of the redemption criterion discussed above prevent a redemption call unless there is at the time of the call a significant premium to the exercise price of the Public Warrants. If the foregoing conditions are satisfied and the Company issues a notice of redemption of the Public Warrants, each warrant holder will be entitled to exercise its warrant prior to the scheduled redemption date. However, the price of the Class A Common Stock may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) as well as the $11.50 warrant exercise price after the redemption notice is issued. Private Placement Warrants: As of September 30, 2021, there were 3,451,964 Private Placement Warrants outstanding, all of which are non-redeemable and may be exercised on a cashless basis so long as they continue to be held by their initial holders or their permitted transferees. The Private Placement Warrants are comprised of 2,539,464 warrants to purchase Class A Common Stock at $11.50 per share (the “$11.50 Exercise Price Warrants”) and 912,500 warrants to purchase Class A Common Stock at $15.00 per share (the “$15 Exercise Price Warrants”). The $11.50 Exercise Price Warrants expire simultaneously with the Public Warrants, except for certain of the $11.50 Exercise Price Warrants held by underwriters in the IPO (the “Underwriter Warrants”) that expire on September 29, 2025 so long as they continue to be held by their initial holders or their permitted transferees. The $15 Exercise Price Warrants expire on July 20, 2031, ten years after the Closing Date, at 5:00 p.m., New York City time, so long as they continue to be held by their initial holders or their permitted transferees, and otherwise expire simultaneously with the Public Warrants. Warrant liabilities: As of September 30, 2021, the Company recorded warrant liabilities of $24,506 thousand in the consolidated balance sheets. For the three and nine months ended September 30, 2021, the fair value of the Public Warrants decreased by $9,034 thousand. For the three and nine months ended September 30, 2021, the fair value of the Private Placement Warrants decreased by $4,105 thousand. The change in fair value of the warrant liabilities is included under other income in the consolidated statements of operations.

Stockholders_ Equity_Members_ E

Stockholders’ Equity/Members’ Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders’ Equity/Members’ Equity	Stockholders’ Equity/Members’ Equity Prior to the Business Combination, FGNA was a Special Purpose Acquisition Company or a “blank check company” defined as a development stage company formed for the sole purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As of the Closing, OppFi held a 11.8% ownership interest in OppFi-LLC. As of September 30, 2021, OppFi held a 12.2% ownership interest in OppFi-LLC. Prior to the Business Combination, OppFi-LLC had two classes of partnership interests, preferred units and profit unit interests, which were recapitalized as OppFi Units in connection with the adoption by the Members of the OppFi A&R LLCA immediately prior to the Closing. The preferred units are reflected as OppFi-LLC’s historical members’ equity in the consolidated balance sheets. Preferred stock: OppFi is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share. OppFi’s Board of Directors has the authority to issue shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time. As of September 30, 2021, there were no shares of preferred stock issued and outstanding. Class A Common Stock: OppFi is authorized to issue 379,000,000 shares of Class A Common Stock with a par value of $0.0001 per share. Holders of Class A Common Stock are entitled to one vote for each share. Additionally, Class A Common Stock is defined as “Economic Common Stock,” and holders are entitled to receive dividends and other distributions (payable in cash, property, or capital stock of the Company) when, as and if declared thereon by OppFi’s Board of Directors from time to time out of any assets or funds of the Company legally available therefor and share equally on a per share basis in such dividends and distributions. As of September 30, 2021, there were 13,464,542 shares of Class A Common Stock issued and outstanding. Class B Common Stock: OppFi is authorized to issue 6,000,000 shares of Class B Common Stock with a par value of $0.0001 per share. Holders of Class B Common Stock are entitled to one vote for each share. Class B Common Stock is defined as Economic Common Stock and holders are entitled to receive the same dividends and other distributions as Class A Common Stock. As of September 30, 2021, there were no shares of Class B Common Stock issued and outstanding. All shares of Class B Common Stock were converted into Class A Common Stock at the Closing. Class V Voting Stock: OppFi is authorized to issue 115,000,000 shares of Class V Voting Stock with a par value of $0.0001 per share. Class V Voting Stock represents voting, non-economic interests in OppFi. Holders of Class V Voting Stock are entitled to one vote for each share. As of September 30, 2021, there were 96,500,241 shares of Class V Voting Stock issued and outstanding.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation On July 20, 2021, the Company established the OppFi Inc. 2021 Equity Incentive Plan (the“Plan”), which provides for the grant of restricted stock unit awards, incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock awards, restricted stock units awards, performance units, performance shares, cash-based awards, and other stock-based awards to employees, non-employee directors, officers, and consultants. As of September 30, 2021, the maximum aggregate number of shares of Class A Common Stock that may be issued under the Plan shall be equal to 11,500,000 shares. As of September 30, 2021, the Company had only granted awards in the form of options. Stock options: Under the terms of the Plan, incentive stock options must have an exercise price at or above the fair market value of the stock on the date of the grant. Stock options granted have service-based vesting conditions only. Stock options generally vest over four years with 25% of stock options vesting on the first anniversary of the grant and the remaining 75% vesting quarterly over the remaining 36 months. Option holders have a 10-year period to exercise the options before they expire. Forfeitures are recognized in the period they occur. A summary of the Company’s stock option activity for the three and nine months ended September 30, 2021 is as follows: Number of Common Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 — $ — — $ — Granted 5,600,000 15.23 — — Exercised — — — — Forfeited — — — — Outstanding as of September 30, 2021 5,600,000 $ 15.23 6.10 $ — Compensation expense is recorded on a straight-line basis over the vesting period, which is the requisite service period, beginning on the grant date. The compensation expense is based on the fair value of each option grant using the Black-Scholes option pricing model and is recognized as salaries and employee benefits expense in the consolidated statements of operations and increase additional paid-in capital. For the three and nine months ended September 30, 2021, the Company recognized stock-based compensation of $673 thousand. As of September 30, 2021, the Company had stock-based compensation of $13,046 thousand related to unvested stock options not yet recognized that are expected to be recognized over an estimated weighted average period of approximately four years. The fair value of each option grant was estimated on the grant date using the Black-Scholes option pricing model based on the following assumptions: Volatility 32.50 % Risk-free rate 0.91 % Years to expiration 6.10 Dividend yield 0.00 % Volatility is the measure by which the Company’s stock price is expected to fluctuate during the expected life of the stock options. Due to the lack of company-specific market data, volatility is based on an estimate of expected volatilities of a representative group of publicly traded companies. Risk-free rate is based on U.S. Treasury Note yields. Years to expiration represents the weighted-average period over which the granted stock options are expected to remain outstanding. Dividend yield is based on the Company’s history and expectation of dividend payments. Profit unit interests: Prior to the Business Combination, OppFi-LLC issued profit unit interests, which were recapitalized as OppFi Units in connection with the adoption by the Members of the OppFi A&R LLCA immediately prior to the Closing. Total profit interest compensation expense for the three and nine months ended September 30, 2021 was $270 thousand and $499 thousand, respectively. There was no profit interest compensation expense for the three and nine months ended September 30, 2020. The compensation expense accounted for all vested units based on the following assumptions: Expected term 3 years Volatility 68.0 % Discount for lack of marketability 45.0 % Risk free rate 0.2 % The following table summarizes data concerning the profit unit interest (units in thousands): Avg Fair Value Units at Grant Date Outstanding at December 31, 2019 9,799 $ 0.05 Granted 2,414 0.17 Forfeited (11) 0.03 Outstanding at December 31, 2020 12,202 0.08 Granted — — Forfeited (55) 0.08 Outstanding at March 31, 2021 12,147 0.08 Granted — — Forfeited — — Outstanding at June 30, 2021 12,147 0.08 Granted — — Forfeited (536) 0.10 Exchanged in reverse recapitalization (11,611) 0.08 Outstanding at September 30, 2021 — $ — The following table provides information pertaining to non-vested units (units in thousands): Avg Fair Value Units at Grant Date Non-vested units at December 31, 2019 3,467 $ 0.10 Granted 2,414 0.17 Vested (1,132) 0.13 Forfeited (11) 0.03 Non-vested units at December 31, 2020 4,738 0.12 Granted — — Vested (326) 0.15 Forfeited (55) 0.08 Non-vested units at March 31, 2021 4,357 0.12 Granted — — Vested (2,522) 0.07 Forfeited — — Non-vested units at June 30, 2021 1,835 0.20 Granted — — Vested (85) 0.20 Forfeited (536) 0.10 Exchanged in reverse recapitalization (1,214) 0.22 Non-vested units at September 30, 2021 — $ —

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes OppFi-LLC is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, OppFi-LLC is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by OppFi-LLC is passed through to and included in the taxable income or loss of its members, including OppFi, on a pro rata basis. OppFi is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to our allocable share of any taxable income or loss of OppFi-LLC, as well as any stand-alone income or loss generated by OppFi. For the three months ended September 30, 2021, OppFi recorded an income tax expense of $703 thousand and reported consolidated income before taxes of $31,095 thousand, resulting in a 2.3% effective income tax rate. Prior to the Closing Date, OppFi-LLC was classified as a partnership for income tax purposes and was therefore not subject to federal income tax and did not record an expense for income taxes. Because no income tax was recorded prior to the Closing Date, for the nine months ended September 30, 2021, OppFi recorded an income tax expense of $703 thousand and reported consolidated income before taxes of $73,466 thousand, resulting in an effective income tax rate of 1.0%. As OppFi-LLC was classified as a partnership for federal income tax purposes, OppFi-LLC did not record an income tax expense for the three and nine months ended September 30, 2020. A pro forma income tax provision has been disclosed as if OppFi-LLC was a taxable corporation for the three and nine months ended September 30, 2020. For the three and nine months ended September 30, 2020, the unaudited pro forma income tax expense was $561 thousand and $1,779 thousand, respectively, resulting in an effective tax rate of 2.9%. The effective tax rates for the three and nine months ended September 30, 2021 and for the pro forma 2020 differ from the statutory income tax rate of 21% primarily due to the noncontrolling interest in the Up-C partnership structure, nondeductible expenses, and state income taxes. OppFi is subject to a 21% federal income tax rate on its activities and its distributive share of income from OppFi-LLC, as well as various state and local income taxes. As of September 30, 2021, OppFi owns 12.2% of the outstanding units of OppFi-LLC and considers appropriate tax accounting only on this portion of OppFi-LLC’s activity. Additionally, OppFi’s income tax rate varies from the 21% statutory federal income tax rate primarily due to a permanent difference related to the adjustment of the warrant liability recorded by OppFi. This fair market value adjustment of the warrant liability represents a large portion of OppFi’s pre-tax book income or loss and is a permanent difference between GAAP and taxable income, which impacts OppFi’s effective income tax rate. OppFi recorded a deferred tax asset and additional paid-in capital for the difference between the book value and the tax basis of OppFi’s investment in OppFi-LLC. Based on the Company’s cumulative earnings history and forecasted future sources of taxable income, the Company believes that it will be able to realize the deferred tax assets in the future. As the Company reassesses this position in the future, changes in cumulative earnings history, excluding non-recurring charges, or changes to forecasted taxable income may alter this expectation and may result in an increase in the valuation allowance and an increase in the effective tax rate. The CARES Act was enacted on March 27, 2020 in the United States to provide emergency assistance to individuals and businesses affected by the COVID-19 pandemic. The CARES Act includes temporary changes to both income and non-income based tax laws. For the three months ended September 30, 2021 the impact of the CARES Act was immaterial to the Company’s tax provision. However, under the CARES Act, the Company is deferring the employer portion of payroll tax payments through December 31, 2021. Future regulatory guidance under the CARES Act or additional legislation enacted by Congress in connection with the COVID-19 pandemic could impact the Company’s tax provision in future periods. In connection with the Business Combination, the Company entered into the TRA, which provides for payment to the Members of 90% of the U.S. federal, state and local income tax savings realized by the Company as a result of the increases in tax basis and certain other tax benefits related to the transactions contemplated under the Business Combination Agreement and the exchange of Retained OppFi Units for Class A Common Stock or cash. The Company has in effect an election under Section 754 of the Internal Revenue Code and will have such an election effective for each taxable year in which a redemption or exchange (including deemed exchange) of OppFi-LLC interests for shares of Class A Common Stock or cash occurs. The Company will retain the benefit of the remaining 10%. As of September 30, 2021, the Company recorded a TRA liability of $22,866 thousand related to exchanges that occurred during the period.

Interest and Loan Related Incom

Interest and Loan Related Income, Net	9 Months Ended
	Sep. 30, 2021
Interest and Fee Income, Loans and Leases [Abstract]
Interest and Loan Related Income, Net	Interest and Loan Related Income, Net The following tables summarize interest and loan related income, net, for the three and nine months ended September 30 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest and loan related income, gross $ 91,448 $ 73,311 $ 253,581 $ 235,651 Amortization of loan origination costs — (10,818) — (37,464) Interest and loan related income, net $ 91,448 $ 62,493 $ 253,581 $ 198,187

Interest Expense and Amortized

Interest Expense and Amortized Debt Issuance Costs	9 Months Ended
	Sep. 30, 2021
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Interest Expense and Amortized Debt Issuance Costs	Interest Expense and Amortized Debt Issuance Costs The following tables summarize interest expense and amortized debt issuance costs for the three and nine months ended September 30 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest expense $ 5,842 $ 4,038 $ 15,535 $ 14,710 Amortized debt issuance costs 572 474 1,735 1,451 Interest expense and amortized debt issuance costs $ 6,414 $ 4,512 $ 17,270 $ 16,161

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value on a nonrecurring basis : The Company has no assets or liabilities measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Fair value measurement on a recurring basis : Effective January 1, 2021, the Company elected the fair value option to account for its installment finance receivables. Prior to that, OppFi-LLC only had warrant units that were measured at fair market value on a recurring basis. Subsequent to the Business Combination, the Company measures the Public Warrants and Private Placement Warrants at fair value on a recurring basis. The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 are as follows (in thousands): Carrying Value Fair Value Measurements September 30, 2021 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value (1) $ 334,114 $ — $ — $ 334,114 Financial liabilities: Warrant liability - Public Warrants (3) 18,307 18,307 — — Warrant liability - Private Placement Warrants (4) 6,199 — — 6,199 Carrying Value Fair Value Measurements December 31, 2020 Level 1 Level 2 Level 3 Financial liabilities: Warrant units (2) $ 1,309 $ — $ — $ 1,309 During the three and nine months ended September 30, 2021, there were no transfers of assets or liabilities in or out of Level 1, Level 2 or Level 3 fair value measurements. (1) The Company primarily estimates the fair value of its installment finance receivables portfolio using discounted cash flow models that have been internally developed. The models use inputs that are unobservable but reflect the Company’s best estimates of the assumptions a market participant would use to calculate fair value. The following table presents quantitative information about the significant unobservable inputs used for the Company’s installment finance receivables fair value measurements as of September 30, 2021: September 30, 2021 Interest rate on finance receivables 151.10 % Discount rate 21.70 % Servicing fee* 5.02 % Remaining life 0.58 years Default rate* 19.09 % Accrued interest* 3.20 % Prepayment rate* 21.40 % *Stated as a percentage of finance receivables (2) The estimated fair value of the warrant units is calculated using an option pricing model. The resulting fair value measurement is categorized as a Level 3 measurement. Upon closing of the Business Combination, the lender exercised the warrant units and the liability was reclassified to additional paid in capital. As such, there is no warrant unit liability at September 30, 2021. For the three and nine months ended September 30, 2021, warrant expense was $888 thousand and $4,208 thousand, respectively. For the three and nine months ended September 30, 2020, there was no warrant expense. Warrant expense is included in general, administrative, and other in the consolidated statements of operations. The following table presents the change in the fair value of the warrant units (in thousands): Fair value as of December 31, 2020 $ 1,309 Change in fair value 4,208 Warrant units exercised (5,517) Fair value as of September 30, 2021 $ — (3) The fair value measurement for the Public Warrants is categorized as Level 1 due to the use of an observable market quote in an active market under the ticker OPFI WS. (4) The fair value of the Private Placement Warrants is measured using as Monte Carlo simulation. As such, the Private Placement Warrants are categorized as Level 3. The following table presents the significant assumptions used in the simulation at September 30, 2021 and July 20, 2021, the Closing Date: September 30, 2021 July 20, 2021 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 0.93 % 1.51 % 0.69 % 1.23 % Expected term (years) 4.8 9.8 5.0 10.0 Expected volatility 37.00 % 35.50 % 36.50 % 36.00 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 1.64 $ 2.23 $ 2.80 $ 3.50 The following table presents the changes in the fair value of the warrant liability - Private Placement Warrants (in thousands): $11.50 Exercise $15 Exercise Total Fair value as of Closing Date, July 20, 2021 $ 7,110 $ 3,194 $ 10,304 Change in fair value (2,946) (1,159) (4,105) Fair value as of September 30, 2021 $ 4,164 $ 2,035 $ 6,199 Financial assets and liabilities not measured at fair value : The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy as of September 30, 2021 (in thousands): Carrying Value Fair Value Measurements September 30, 2021 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 27,627 $ 27,627 $ — $ — Restricted cash 29,175 29,175 — — Finance receivables at amortized cost, net 1,269 — — 1,269 Liabilities: Secured borrowing payable 19,791 — — 19,791 Senior debt, net 205,968 — — 205,968 The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy as of December 31, 2020 (in thousands): Carrying Value Fair Value Measurements December 31, 2020 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 25,601 $ 25,601 $ — $ — Restricted cash 20,056 20,056 — — Finance receivables at amortized cost, net 222,243 — — 287,437 Liabilities: Reserve for repurchase liability 4,241 — — 4,241 Secured borrowing payable 16,025 — — 16,025 Senior debt, net 131,726 — — 131,726 Subordinated debt - related party 4,000 — — 4,000 Other debt 6,354 — — 6,354

Commitments, Contingencies and

Commitments, Contingencies and Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Commitments Contingencies And Related Party Transactions [Abstract]
Commitments, Contingencies and Related Party Transactions	Commitments, Contingencies and Related Party Transactions Commitment: The Company leases its office facilities under a non-cancelable operating lease agreement with an unrelated party. On November 26, 2019, the Company amended the lease agreement to rent additional office space. The amendment reduced the required deposit of a letter of credit from $1,500 thousand to $1,000 thousand, which would be paid to the lessor in the event of default. On June 29, 2021, the required deposit of a letter of credit associated with the agreement was increased to $1,750 thousand. As of September 30, 2021 and December 31, 2020, there were no outstanding balances on the letter of credit. The amendment also extended the expiration date of the lease to September 2030. Rent expense, which is included in occupancy expense in the consolidated statements of operations, totaled $998 thousand and $835 thousand for the three months ended September 30, 2021 and 2020, respectively, and $2,748 thousand and $2,239 thousand for the nine months ended September 30, 2021 and 2020, respectively . Future minimum lease payments as of September 30, 2021 are as follows (in thousands): Year Amount Remainder of 2021 $ 562 2022 2,271 2023 2,339 2024 2,410 2025 2,482 Thereafter 12,840 Total $ 22,904 Legal contingencies: Due to the nature of its business activities, the Company is subject to extensive regulations and threatened legal action which arises in the normal course of business. The Company has received inquiries from certain agencies and states on its lending compliance, the validity of the bank partnership model, and its ability to facilitate the servicing of bank originated loans. Management is confident that its lending practices and the bank partnership structure, in addition to the Company’s technologies, services, and overall relationship with its bank partners, complies with state and federal laws. However, the inquiries are still in process and the outcome is unknown at this time. In the opinion of management, there is no pending or threatened legal action of any material consequence as of September 30, 2021 and December 31, 2020 and any reasonably possible losses in addition to amounts accrued are not material to the financial statements. Related party transactions: OppFi-LLC previously had an unsecured line of credit agreement with SCG with a maximum available amount of $4,000 thousand, which was paid in full on March 30, 2021. Interest expense related to this related party transaction was $141 thousand for the three months ended September 30, 2020. Interest expense was $137 thousand and $420 thousand for the nine months ended September 30, 2021 and 2020, respectively. In August 2020, OppFi-LLC entered into a Management Fee Agreement (the “Management Fee Agreement”) with SCG. Pursuant to the terms of the Management Fee Agreement, SCG provided board and advisory services. Effective upon the Closing, OppFi-LLC terminated the Management Fee Agreement and incurred $3,000 thousand in transaction costs, which has been offset against additional paid-in capital in the consolidated balance sheets. For the three months ended September 30, 2020, management fees under the Management Fee Agreement totaled $280 thousand. For the nine months ended September 30, 2021 and 2020, management fees under the Management Fee Agreement totaled $350 thousand and $280 thousand, respectively. In connection with the Business Combination, OppFi entered into the TRA with the Members.

Concentration of Credit Risk

Concentration of Credit Risk	9 Months Ended
	Sep. 30, 2021
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit RiskFinancial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of finance receivables. As of September 30, 2021, consumers living primarily in Florida, Texas and California made up approximately 13%, 13%, and 10%, respectively, of the gross amount of the Company’s portfolio of finance receivables. As of September 30, 2021, there were no other states that made up more than 10% or more of the gross amount of the Company’s portfolio of finance receivables. As of December 31, 2020, consumers living primarily in Florida and Illinois made up approximately 14% and 13%, respectively, of the gross amount of the Company’s portfolio of finance receivables. Furthermore, such consumers’ ability to honor their installment contracts may be affected by economic conditions in these areas. The Company is also exposed to a concentration of credit risk inherent in providing alternate financing programs to borrowers who cannot obtain traditional bank financing.

Retirement Plan

Retirement Plan	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Retirement Plan	Retirement Plan The Company sponsors a 401(k) retirement plan (the “401(k) Plan”) for its employees. Full time employees (except certain non-resident aliens) who are age 21 and older are eligible to participate in the 401(k) Plan. The 401(k) Plan participants may elect to contribute a portion of their eligible compensation to the 401(k) Plan. The Company has elected a matching contribution up to 4% on eligible employee compensation. The Company’s contribution, which is included in salaries and employee benefits in the consolidated statements of operations, totaled $419 thousand and $282 thousand for the three months ended September 30, 2021 and 2020, respectively, and $1,145 thousand and $820 thousand for the nine months ended September 30, 2021 and 2020, respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Prior to the reverse recapitalization, all net income was attributable to the noncontrolling interest. For the periods prior to July 20, 2021, earnings per share was not calculated as net income prior to the Business Combination was attributable entirely to OppFi-LLC. The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2021 (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 Numerator: Net income $ 30,392 $ 72,763 Net income attributable to noncontrolling interest 16,267 58,638 Net income available to Class A common stockholders - Basic 14,125 14,125 Dilutive effect of warrants on net income to Class A common stockholders — — Net income available to Class A common stockholders - Diluted $ 14,125 $ 14,125 Denominator: Weighted average Class A common stock outstanding - Basic 13,363,995 13,107,873 Effect of dilutive securities: Stock options — — Warrants — — Dilutive potential common shares — — Weighted average units outstanding - diluted 13,363,995 13,107,873 Earnings per share: Basic EPS $ 1.06 $ 1.08 Diluted earnings per unit $ 1.06 $ 1.08 The following table presents securities that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive for the three and nine months ended September 30, 2021: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 Public Warrants 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 Underwriter Warrants 59,437 59,437 Stock Options 5,600,000 5,600,000 Potential common stock 20,939,437 20,939,437

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent events	Subsequent Events The Company has evaluated the impact of events that have occurred through the date these financial statements were issued and identified the following events that required disclosure. Senior debt: On October 13, 2021, OppFi-LLC, certain of the OppFi Subsidiaries and the other credit parties and guarantors thereto entered into Amendment No. 6 to Revolving Credit Agreement and Other Credit Documents (the “Atalaya Amendment”), which amends the OppFi-LLC Midtown Credit Agreement. The Atalaya Amendment amends the OppFi-LLC Midtown Credit Agreement to, among other things, add Opportunity Funding SPE VII, LLC as an additional borrower under the OppFi-LLC Midtown Credit Agreement, permit the pledge of OppFi Card receivables under the OppFi-LLC Midtown Credit Agreement, and extend the revolving period of the OppFi-LLC Midtown Credit Agreement to October 13, 2023. OppFi-LLC and the other credit parties and guarantors thereto entered into Amendment No. 7 and No. 8 to the Senior Secured Multi-Draw Term Loan Agreement on November 3, 2021 and November 10, 2021, respectively, (the “Amendments-Term Loan”), which amend the OppFi-LLC Midtown Term Loan Agreement. The Amendments-Term Loan amend the OppFi-LLC Midtown Term Loan Agreement to, among other things, amend and restate the definition of “Excluded Accounts” and “EBITDA,” amend and restate negative covenants of the borrower, specifically regarding payment of dividend or distribution, and amend and restate the minimum consolidated fixed charge coverage ratio financial covenant. Equity incentive plan: On October 1, 2021, the Company granted awards to employees, officers and directors in the form of restricted stock units (the “RSUs”), which collectively represent contingent rights to receive 2,141,923 shares of Class A Common Stock. The RSUs granted to employees and officers vest over four years with 25% of the RSUs vesting on the first anniversary of the grant and the remaining 75% vesting quarterly over the remaining 36 months, and the RSUs granted to directors vest on the earlier of the one-year anniversary of grant or the date of the Company’s next annual meeting of stockholders.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and include the accounts of OppFi Inc. and OppFi-LLC with its wholly-owned subsidiaries (collectively, the “OppFi Subsidiaries”) as of September 30, 2021. The accompanying consolidated balance sheet as of December 31, 2020 is derived from OppFi-LLC’s annual audited financial statements. In the opinion of the Company’s management, the unaudited consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results of operations that may be expected for the full year ending December 31, 2021. The consolidated financial statements should be read in conjunction with OppFi-LLC’s audited consolidated financial statements and related notes for the year ended December 31, 2020 contained in OppFi’s Registration Statement on Form S-1, filed with the SEC on August 11, 2021, as amended. The Business Combination was accounted for as a reverse recapitalization in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations . Under this method, FGNA was treated as the “acquired” company, and OppFi-LLC, as the accounting acquirer, was assumed to have issued equity for the net assets of FGNA, accompanied by a recapitalization.
Principles of consolidation	Principles of consolidation: The consolidated financial statements include the accounts of the above named entities. Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, Opportunity Funding SPE IV, LLC, Opportunity Funding SPE V, LLC, Opportunity Funding SPE VI, LLC, Opportunity Funding SPE VII, LLC and SalaryTap Funding SPE, LLC are special purpose entities holding finance receivables secured by lenders under a credit or preferred return agreement. OppFi has identified Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, Opportunity Funding SPE IV, LLC, Opportunity Funding SPE V, LLC, Opportunity Funding SPE VI, LLC, Opportunity Funding SPE VII, LLC and SalaryTap Funding SPE, LLC as VIEs. OppFi-LLC is the sole equity member of all of the aforementioned entities, except for SalaryTap Funding SPE, LLC. SalaryTap, LLC is the sole equity member of SalaryTap Funding SPE, LLC. The Company directs the activities of the VIEs that most significantly impact economic performance. Additionally, the Company has the obligation to absorb losses of the VIEs that could potentially be significant. As the primary beneficiary of the VIEs, the Company has consolidated the financial statements of the VIEs. All significant intercompany transactions and balances have been eliminated in consolidation.
Segments	Segments: Segments are defined as components of an enterprise for which discrete financial information is available and evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. OppFi’s Chief Executive Officer and Chief Financial Officer are collectively considered to be the CODM. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company’s operations constitute a single reportable segment.
Use of estimates	Use of estimates: The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions, including those impacted by COVID-19, that affect the reported amounts of assets, liabilities and operations and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The judgements, assumptions, and estimates used by management are based on historical experience, management’s experience and qualitative factors. The areas subject to significant estimation techniques are the determination of fair value of installment finance receivables and warrants, and the adequacy of the allowance for credit losses on finance receivables. For the aforementioned estimates, it is reasonably possible the recorded amounts or related disclosures could significantly change in the near future as new information is available.
Income recognition	Income recognition: The Company recognizes finance charges on installment contracts and lines of credit based on the interest method. Under this method, interest is earned over the lives of the finance receivables to produce constant rates of interest (yields). Fees for returned payments approximate the cost of services provided and are recognized as incurred, assuming collectability is reasonably assured. The Company discontinues and reverses the accrual of interest income on installment contracts at the earlier of 60 days past due based on a recency basis or 90 days past due based on a contractual basis. The accrual of income is not resumed until the account is current on a recency or contractual basis, at which time management considers collectability to be probable.
Cash and cash equivalents	Cash and cash equivalents: The Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. All cash accounts are held in financially insured institutions, which may at times exceed federally insured limits. The Company has not experienced losses in such accounts. Management believes the Company’s exposure to credit risk is minimal for these accounts.
Restricted cash	Restricted cash: Restricted cash consists of the following: (1) cash required to be held on reserve by the Company’s vendors for purposes of loan processing or funding; (2) cash required to be held for the Company’s guaranty on finance receivables under the terms of the Credit Access Business and Credit Service Organization programs (collectively, the “CSO Program”); (3) cash required to be held in blocked accounts held by the VIEs; and (4) cash required to be held on deposit in connection with the bank partnership arrangements. All cash accounts are held in financially insured institutions, which may at times exceed federally insured limits. The Company has not experienced losses in such accounts. Management believes the Company’s exposure to credit risk is minimal for these accounts.
CSO arrangements	CSO arrangements: In Texas and Ohio, OppFi-LLC previously arranged for consumers to obtain finance receivable products from independent third-party lenders as part of the CSO Program. For the consumer finance receivable products originated by the third-party lenders under the CSO Program, the lenders were responsible for providing the criteria by which the consumer's application was underwritten and, if approved, determining the amount of the finance receivable. When a consumer executed an agreement with OppFi-LLC under the CSO Program, OppFi-LLC agreed, for a fee payable to OppFi-LLC by the consumer, to provide certain services to the consumer, one of which was to guarantee the consumer's obligation to repay the finance receivable obtained by the consumer from the third-party lender if the consumer failed to do so. On April 23, 2019, the Company discontinued the CSO Program in Ohio, and no new finance receivables were originated through this program after that date. As of September 30, 2021, there were no finance receivables remaining under the CSO Program in Ohio. On March 19, 2021, the Company discontinued the CSO Program in Texas. As of September 30, 2021, there were no finance receivables remaining under the CSO Program in Texas. The guarantees represented an obligation to purchase specific finance receivables that are delinquent, secured by a collateral account established in favor of the respective lenders. As of December 31, 2020, the unpaid principal balance of off-balance sheet active finance receivables which were guaranteed by the Company was $19,722 thousand. Upon the election of the fair value option for installment loan finance receivables on January 1, 2021, the Company released the reserve for repurchase liabilities as the income rights and related losses were included in the valuation of finance receivables at fair value, which was included in the fair value adjustment to retained earnings. As of December 31, 2020, the Company recorded a reserve for repurchase liabilities of $4,241 thousand, which represents the liability for estimated losses on finance receivables guaranteed. The Company used a similar methodology for determining the reserve for repurchase liabilities as it does for calculating the allowance for credit losses on finance receivables.
Participation rights purchase obligation	Participation rights purchase obligations : OppFi-LLC has entered into bank partnership arrangements with certain Banks insured by the FDIC. Under the terms and conditions of the bank partnership agreements, the Banks originate finance receivables based on criteria provided by OppFi-LLC. The issuing Bank earns interest during an initial hold period and owns the economic interest in the finance receivables. After the initial holding period, OppFi-LLC is committed to acquire participation rights in the economic interest in the finance receivables originated by the Banks, net of bank partnership retention, plus accrued interest (“Participation Rights”). OppFi-LLC also provides certain services for these receivables in its capacity of sub-servicer pursuant to the terms of the servicing agreement between the Bank and OppFi-LLC. To facilitate these relationships, OppFi-LLC formed OppWin, LLC, which acquires the Participation Rights and sells these rights to certain of the other OppFi Subsidiaries, which in turn, pledge the participation rights to their respective lenders. The Company accounts for the Participation Rights as a finance receivable. As part of these bank partnership arrangements, the Banks have the ability to retain a percentage of the finance receivables they have originated, and OppFi-LLC’s Participation Rights are reduced by the percentage of the finance receivables retained by the Banks. For the nine months ended September 30, 2021 and 2020, finance receivables originated through the bank partnership arrangements totaled 88% and 61%, respectively. As of September 30, 2021 and December 31, 2020, the unpaid principal balance of finance receivables outstanding for purchase was $7,976 thousand and $3,307 thousand, respectively.
Finance receivables	Finance receivables: Prior to January 1, 2021, finance receivables, which management has the intent and ability to hold for the foreseeable future or until maturity or payoff, are reported based on outstanding unpaid principal balance net of accrued interest and fees, unamortized loan origination costs and the allowance for credit losses. On January 1, 2021, the Company elected the fair value option on its installment finance receivables. Accordingly, the related finance receivables are carried at fair value in the consolidated balance sheets and the changes in fair value are included in the consolidated statements of operations. To derive the fair value, the Company generally utilizes discounted cash flow analyses that factor in estimated losses and prepayments over the estimated duration of the underlying assets. Loss and prepayment assumptions are determined using historical loss data and include appropriate consideration of recent trends and anticipated future performance. Future cash flows are discounted using a rate of return that the Company believes a market participant would require. Accrued interest and fees are included in “Finance receivables at fair value” in the consolidated balance sheets. Interest income is included in “Interest and loan related income, net” in the consolidated statements of operations.
Loan origination costs	Loan origination costs: Direct costs incurred for the origination of finance receivables are deferred and amortized over the average life of the customer using the straight-line method. Prior to the election of the fair value option of its installment loans, direct costs incurred for the origination of these finance receivables included underwriting fees, employee salaries and benefits directly related to the origination of the loan and program fees. Loan origination costs also included direct costs incurred for directly acquiring a customer; these costs are deferred and amortized over the average life of the customer using the straight-line method. With the election of the fair value option, loan origination costs related to the origination of installment finance receivables are expensed when incurred.
Allowance for credit losses on finance receivables	Allowance for credit losses on finance receivables: Prior to the adoption of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financia l Instruments , on January 1, 2021, the Company used a static pool methodology for determining the adequacy of the allowance for credit losses on all finance receivables. Under the static pool methodology, a provision for credit losses on finance receivables was recorded when the allowance for credit losses was determined to be insufficient to absorb estimated losses. Such provisions were charged to income in amounts sufficient to maintain the allowance for losses on finance receivables at an adequate level. The allowance was an amount that management believed would be adequate to absorb estimated losses on existing finance receivables based on an evaluation of the collectability of the finance receivables and prior loss experience. This evaluation also took into consideration such factors as changes in the nature and volume of the finance receivable portfolio, overall portfolio quality and current economic conditions that may affect the borrower's ability to pay. While management used the best information available to make its evaluation, future adjustments to the allowance may be necessary if there are significant changes in any of the factors. The Company’s charge-off policy is based on a review of delinquent finance receivables on a loan by loan basis. Finance receivables are charged off at the earlier of the time when accounts reach 90 days past due on a recency basis, when the Company receives notification of a customer bankruptcy, or is otherwise deemed uncollectible. The allowance consists of quantitative and qualitative factors. The quantitative factors are based on historical charge-off experience. The qualitative factors are determined based on management’s assessment of internal and/or external influences on credit quality that are not fully reflected in the historical losses. Finance receivables are considered small balance homogeneous receivables and are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual small balance homogeneous receivables for impairment disclosures, unless such receivables are the subject of a restructuring agreement.
Delinquency	Delinquency: The Company determines the past due status on a recency basis, which is defined as the last time a qualifying payment is made on an account. Finance receivables are considered delinquent at 30 days or more past due. Prior to May 2020, a qualifying payment was considered to be 50% of the scheduled payment. In May 2020, the policy was changed to consider 90% of the scheduled payment as a qualifying payment.
Troubled debt restructurings	Troubled debt restructurings: As the terms of the receivables are typically not renegotiated and settlement offers are not typically made until after a receivable stops accruing interest income (up to 60 days delinquent), the only receivables considered to be impaired, or troubled debt restructurings, are: 1) those receivables where a settlement offer is made after receivables cease accruing interest, which may result in a modification of contractual terms, 2) the Company has received notification that a borrower is working with a third party to settle debt on his/her behalf and 3) customers who have entered into the Company’s short-term or long-term hardship programs. As of September 30, 2021 and December 31, 2020, management determined the balance of troubled debt restructuring receivables to be immaterial to the consolidated financial statements as a whole. As such, substantially all disclosures relating to impaired finance receivables, and troubled debt restructuring, have been omitted from these consolidated financial statements.
Property and equipment	Property and equipment: Furniture, equipment, and leasehold improvements are stated at cost. Depreciation and amortization of furniture, equipment, and leasehold improvements are computed under both straight-line and accelerated methods for financial reporting and income tax purposes, based on the estimated useful lives of the assets which range from three
Capitalized technology	Capitalized technology: Software development costs related to internal use software are incurred in three stages of development: the preliminary project stage, the application development stage, and the post-implementation stage. Costs incurred during the preliminary project and post-implementation stages are expensed as incurred. Costs incurred during the application development stage that meet the criteria for capitalization are capitalized and amortized, when the software is ready for its intended use, using the straight-line basis, over the estimated useful life of the software. The Company capitalized software costs associated with application development totaling $3,823 thousand and $2,346 for the three months ended September 30, 2021 and 2020, respectively, and $9,896 thousand and $6,470 thousand for the nine months ended September 30, 2021 and September 30, 2020, respectively. Amortization expense, which is included in depreciation and amortization on the consolidated statements of operations, totaled $2,468 thousand and $1,579 thousand for the three months ended September 30, 2021 and 2020, respectively, and $6,588 thousand and $4,229 thousand for the nine months ended September 30, 2021 and 2020, respectively.
Debt issuance costs	Debt issuance costs: Debt issuance costs are capitalized and amortized based on the contractual terms of the related debt agreements using the interest method for fixed-term debt and the straight-line method for all other debt.
Transfer and servicing of financial assets	Transfer and servicing of financial assets: After a transfer of financial assets, an entity recognizes the financial and servicing assets it controls and the liabilities it has incurred, derecognizes financial assets when control has been surrendered, and derecognizes liabilities when extinguished. The transfers of assets for debt purposes have been accounted for as secured and senior borrowings and the related assets and borrowings are retained on the consolidated balance sheets and no gain or loss has been recognized in the consolidated statements of operations.
Stock-based compensation	Stock-based compensation: The Company measures stock-based compensation expense based on the fair value of awards as determined on the date of the grant. The Company recognizes stock-based compensation expense over the requisite service period. The Company accounts for forfeitures when they occur. The Company uses the Black-Scholes-Merton (“Black-Scholes”) option-pricing model to determine the estimated fair value of stock option and other stock-based awards. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of stock options and other stock awards.
Earnings per share	Earnings per share: The Company calculates basic and diluted earnings per share attributable to common stockholders required for companies with participating securities. Basic net income per share available to stockholders was calculated by dividing the net income available to stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share available to stockholders was computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. In periods in which the Company reports a net loss available to stockholders, diluted net loss per share available to stockholders would be the same as basic net loss per share available to stockholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.
Warrants	Warrants: Public Warrants, $11.50 Exercise Price Warrants, $15 Exercise Price Warrants, Private Placement Warrants and Underwriter Warrants do not meet the criteria for equity treatment, due to a provision in the warrant agreement governing such warrants (the “Warrant Agreement”) related to certain tender or exchange offer provisions, each warrant must be recorded as a liability. Accordingly, the Company classifies each warrant as a liability at its fair value. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the warrant liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statement of operations. The Public Warrants are valued at market price based on a quoted price in an active market. The Company utilizes a Monte Carlo simulation model to value the outstanding private placement warrants (“Private Placement Warrants”) issued in connection with FGNA’s initial public offering (the “IPO”) at each reporting period.
Tax receivable agreement liability	Tax receivable agreement liability: In connection with the Business Combination, OppFi entered into the Tax Receivable Agreement ("TRA") with the Members and the Members’ Representative. The TRA provides for payment to the Members of 90% of the U.S. federal, state and local income tax savings realized by the Company as a result of the increases in tax basis and certain other tax benefits related to the transactions contemplated under the Business Combination Agreement and the exchange of Retained OppFi Units for Class A Common Stock or cash. OppFi-LLC will have in effect an election under Section 754 of the Internal Revenue Code effective for each taxable year in which an exchange of Retained OppFi Units occurs. The remaining 10% cash tax savings resulting from the basis adjustments will be retained by the Company. In general, cash tax savings result in a year when the tax liability of the Company for the year, computed without regard to the deductions attributable to the amortization or depreciation of the basis increase and other deductions that arise in connection with the payment of the cash consideration under the TRA or the exchange of Retained OppFi Units for Class A Common Stock, would be more than the tax liability for the year taking into account such deductions. Payments under the TRA will not be due until the Company is able to reduce an actual cash tax liability by the amortization of the basis increase on a filed tax return. The payments under the TRA are expected to be substantial. The Company accounts for the effects of the basis increases as follows: • records an increase in deferred tax assets for the income tax effects of the increases in tax basis based on enacted federal and state income tax rates at the date of the exchange; • the Company evaluates the ability to realize the full benefit represented by the deferred tax asset based on an analysis that will consider expectations of future earnings among other things. If the Company determines that the full benefit is not likely to be realized, a valuation allowance is established to reduce the amount of the deferred tax assets to an amount that is likely to be realized. The Company records obligations under the TRA at the gross undiscounted amount of the expected future payments as an increase to liabilities, and the realizable deferred tax asset with an offset to additional paid-in capital.
Income taxes	Income taxes: OppFi-LLC is organized as a partnership for U.S. income tax purposes, and therefore is not subject to tax on its earnings, as the taxable income and deductions are passed to the Members who are responsible for income tax based upon their allocable share of OppFi-LLC's income. Following the Closing, the Company’s consolidated financial statements include the accounts of OppFi and OppFi-LLC. OppFi is subject to corporate income taxes in the United States based upon its activities and its allocable share of taxable income from OppFi-LLC at the federal and state level, therefore the amount of income taxes recorded prior to the Closing are not representative of the expenses expected in the future. The computation of the effective tax rate and provision at each period requires the use of certain estimates and significant judgment including, but not limited to, the expected operating income for the year, projections of the proportion of income that is subject to tax, and permanent differences between the Company’s GAAP earnings and taxable income. The estimates used to compute the provision for income taxes may change throughout the year as new events occur, additional information is obtained or as tax laws and regulations change. Accordingly, the effective tax rate for future periods may vary. The Company accounts for income taxes pursuant to the asset and liability method which requires the recognition of current tax liabilities or receivables for the amount of taxes it estimates are payable or refundable for the current year, deferred tax assets and liabilities for the expected future tax consequences attributable to temporary differences between the financial statement carrying amounts and their respective tax bases of assets and liabilities and the expected benefits of net operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not that a portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and the reversal of deferred tax liabilities during the period in which related temporary differences become deductible. The benefit of tax positions taken or expected to be taken in the Company’s income tax returns is recognized in the financial statements if such positions are more likely than not of being sustained upon examination by taxing authorities. Differences between tax positions taken or expected to be taken in a tax return and the benefit recognized and measured pursuant to the interpretation are referred to as “unrecognized benefits.” A liability is recognized (or amount of net operating loss carryover or amount of tax refundable is reduced) for an unrecognized tax benefit because it represents a potential future obligation to the taxing authority for a tax position that was not recognized. Interest costs and related penalties related to unrecognized tax benefits are required to be calculated, if applicable and are recognized as general and administrative expenses.
Government regulation	Government regulation: The Company is subject to complex regulation, supervision and licensing under various federal, state, local statutes, ordinances, regulations, rules and guidance. The Company must comply with federal laws as well as regulations adopted to implement those laws. In July 2010, the U.S. Congress passed the Dodd-Frank Act, and Title X of the Dodd-Frank Act created the Consumer Financial Protection Bureau (CFPB), which regulates U.S. consumer financial products and services, including consumer loans offered by the Company. The CFPB has regulatory, supervisory and enforcement powers over providers of consumer financial products and services, including explicit supervisory authority to examine and require registration of such providers.
Noncontrolling interests	Noncontrolling interests: Noncontrolling interests are held by the Members, who retained 87.8% of the economic ownership percentage of OppFi-LLC as of September 30, 2021. In accordance with the provisions of ASC 810, Consolidation , the Company classifies the noncontrolling interests as a component of stockholders’ equity in the consolidated balance sheets. Additionally, the Company has presented the net income attributable to the Company and the noncontrolling ownership interests separately in the consolidated statements of operations.
Fair value disclosure	Fair value disclosure : ASC 820, Fair Value Measurement , established a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. ASC 820 provides a framework for measuring fair value under generally accepted accounting principles. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various methods including market, income and cost approaches. Based on these approaches, the Company often utilizes certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable inputs. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the nature of the inputs used in the valuation techniques, the Company is required to provide the following information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1 - Valuations for assets and liabilities traded in active exchange markets, such as the NYSE. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 - Valuations for assets and liabilities traded in less-active dealer or broker markets. Valuations are obtained from third-party pricing services for identical or similar assets or liabilities. Level 3 - Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities.
Emerging growth company	Emerging growth company: The Company is an emerging growth company as defined under the Jumpstart Our Business Startups Act of 2012 (“Jobs Act”). The Company is permitted to delay the adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements apply to private companies. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Accounting pronouncements issued and adopted and Accounting pronouncements issued and not yet adopted	Accounting pronouncements issued and adopted: In September 2016, the FASB issued ASU 2016-13. The amendments in ASU 2016‑13 replace the incurred loss impairment methodology in current GAAP with a methodology that reflects lifetime expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. In April 2019 and November 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments , and ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses , respectively, which provide subsequent amendments to the initial guidance in ASU 2016‑13. In May 2019, the FASB issued ASU 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief , which provides entities that have certain instruments within the scope of ASC 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost , with an option to irrevocably elect the fair value option in ASC 825-10, Financial Instruments —Overall, applied on an instrument-by-instrument basis for eligible instruments, upon adoption of ASU 2016-13. The Company adopted ASU 2016-13 under the modified-retrospective method effective January 1, 2021 and elected the fair value option to account for installment finance receivables. The Company believes that the fair value option better reflects the value of its portfolio and its future economic performance as well as more closely aligns with the Company’s marginal decision-making processes that rely on risk based pricing and discounted cash flow methodologies. In accordance with the transition guidance, the Company (i) released the allowance for estimated losses on finance receivables at that date; (ii) released the unamortized net deferred origination costs at that date; (iii) released the reserve for repurchase liability on third-party lender losses; and (iv) measured the finance receivables at fair value. As a result of the adoption of this ASU, the Company’s finance receivables are carried at fair value with changes in fair value recognized directly in earnings and origination fees and costs are no longer eligible for deferral. The following table summarizes the impact of adoption on the consolidated balance sheet as of January 1, 2021, as adjusted (in thousands): Fair value adjustment to finance receivables $ 23,584 Allowance for credit losses 55,031 Unamortized loan origination costs (13,421) Reserve for repurchase liability 4,241 Increase in retained earnings $ 69,435 In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customers Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which broadens the scope of existing guidance applicable to internal-use software development costs. The update requires costs to be capitalized or expensed based on the nature of the costs and the project stage in which they are incurred subject to amortization and impairment guidance consistent with existing internal-use software development cost guidance. The guidance is effective for annual reporting periods beginning after December 31, 2020, with early adoption permitted. The adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements. Accounting pronouncements issued and not yet adopted: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. In November 2019, the FASB issued ASU 2019-10, which defers the effective date of ASU 2016-02 one year, making it effective for annual reporting periods beginning after December 15, 2020, with early adoption permitted. In September 2020, the FASB issued ASU 2020-05, which defers the effective date of ASU 2019-10 one year, making it effective for annual reporting periods beginning after December 15, 2021, with early adoption permitted. The Company is currently evaluating the impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The purpose of ASU 2020-04 is to provide optional guidance for a period of time related to accounting for reference rate reform on financial reporting. It is intended to reduce the potential burden of reviewing contract modifications related to discontinued rates. The amendments and expedients in this update are effective as of March 12, 2020 through December 31, 2022 and may be elected by topic. The Company is currently evaluating the impact on the Company’s consolidated financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Impact of Adoption on the Consolidated Balance Sheet	The following table summarizes the impact of adoption on the consolidated balance sheet as of January 1, 2021, as adjusted (in thousands): Fair value adjustment to finance receivables $ 23,584 Allowance for credit losses 55,031 Unamortized loan origination costs (13,421) Reserve for repurchase liability 4,241 Increase in retained earnings $ 69,435

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Schedule of Installment Finance Receivables at Fair Value	The components of installment finance receivables at fair value as of September 30, 2021 were as follows (in thousands): Unpaid principal balance of finance receivables - accrual $ 272,678 Unpaid principal balance of finance receivables - non-accrual 19,198 Unpaid principal balance of finance receivables $ 291,876 Finance receivables at fair value - accrual $ 323,931 Finance receivables at fair value - non-accrual 941 Finance receivables at fair value, excluding accrued interest and fees receivable 324,872 Accrued interest and fees receivable 9,242 Finance receivables at fair value $ 334,114 Difference between unpaid principal balance and fair value $ 32,996
Schedule of Changes in Fair Value of Installment Finance Receivables	Changes in the fair value of installment finance receivables at fair value during the three months ended September 30, 2021 were as follows (in thousands): Balance at the beginning of the period $ 296,381 Originations of principal 155,055 Repayments of principal (98,202) Accrued interest and fees receivable (180) Charge-offs, net (1) (24,891) Net change in fair value (1) 5,951 Balance at the end of the period $ 334,114 (1) Included in "Change in fair value of finance receivables" in the Consolidated Statements of Operations. Changes in the fair value of installment finance receivables at fair value during the nine months ended September 30, 2021 were as follows (in thousands): Balance at the beginning of the period $ 289,166 Originations of principal 401,373 Repayments of principal (303,305) Accrued interest and fees receivable 1,332 Charge-offs, net (1) (62,046) Adjustment to fair value (1,817) Net change in fair value (1) 9,411 Balance at the end of the period $ 334,114 (1) Included in "Change in fair value of finance receivables" in the Consolidated Statements of Operations.
Schedule of Finance Receivables	The components of finance receivables carried at amortized cost as of September 30, 2021 and December 31, 2020 were as follows (in thousands): September 30, 2021 December 31, 2020 Finance receivables $ 1,402 $ 255,943 Accrued interest and fees 13 7,910 Unamortized loan origination costs — 13,421 Allowance for credit losses (146) (55,031) Finance receivables at amortized cost, net $ 1,269 $ 222,243
Summary of Changes in Allowance for Credit Losses on Finance Receivables	Changes in the allowance for credit losses on finance receivables during the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands): For The Three Months Ended September 30, 2021 September 30, 2020 Beginning balance $ 11 $ 43,858 Provisions for credit losses on finance receivables 143 16,303 Finance receivables charged off (8) (15,277) Recoveries of charge offs — 2,650 Ending balance $ 146 $ 47,534 For The Nine Months Ended September 30, 2021 September 30, 2020 Beginning balance $ 55,031 $ 53,146 Effects of adopting fair value option (55,031) — Provisions for credit losses on finance receivables 181 56,136 Finance receivables charged off (35) (70,073) Recoveries of charge offs — 8,325 Ending balance $ 146 $ 47,534
Summary of Changes in Reserve for Repurchase Liability	Changes in the reserve for repurchase liability for third-party lender losses were as follows for the three months ended September 30, 2020 (in thousands): Beginning balance, June 30, 2020 $ 3,180 Provision for repurchase liabilities 1,577 Finance receivables charged off (1,427) Recoveries of charge offs 194 Ending balance, September 30, 2020 $ 3,524 Changes in the reserve for repurchase liability for third-party lender losses were as follows for the nine months ended September 30, 2020 (in thousands): Beginning balance, December 31, 2019 $ 4,978 Provision for repurchase liabilities 6,619 Finance receivables charged off (8,772) Recoveries of charge offs 699 Ending balance, September 30, 2020 $ 3,524
Summary of Credit Quality Finance Receivable Portfolio	The following is an assessment of the credit quality of finance receivables at amortized cost and presents the recency delinquency and contractual delinquency of the finance receivable portfolio as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Recency delinquency Contractual delinquency Recency delinquency Contractual delinquency Current $ 1,368 $ 1,378 $ 240,623 $ 220,438 Delinquency 30-59 days 44 34 7,760 12,574 60-89 days 3 3 7,560 9,852 90+ days — — — 13,079 Total delinquency 47 37 15,320 35,505 Finance receivables $ 1,415 $ 1,415 $ 255,943 $ 255,943

Property, Equipment and Softw_2

Property, Equipment and Software, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment and Software	Property, equipment and software consisted of the following (in thousands): September 30, 2021 December 31, 2020 Capitalized technology $ 30,804 $ 20,908 Furniture, fixtures and equipment 3,769 3,228 Leasehold improvements 979 862 Total property, equipment and software 35,552 24,998 Less accumulated depreciation and amortization (21,725) (14,440) Property, equipment and software, net $ 13,827 $ 10,558

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Borrowings	The following is a summary of the Company’s borrowings (in thousands): Purpose Borrower Borrowing Capacity September 30, 2021 December 31, 2020 Interest Rate as of Maturity Date Secured borrowing payable Opportunity Funding SPE II, LLC $ 38,036 $ 19,791 $ 16,025 15.00% December 2021 Senior debt Revolving line of credit OppFi-LLC $ — $ — $ 5,000 LIBOR plus 2.50% February 2022 Revolving line of credit Opportunity Funding SPE III, LLC 175,000 87,500 59,200 LIBOR plus 6.00% January 2024 Revolving line of credit Opportunity Funding SPE V, LLC 75,000 37,500 24,222 LIBOR plus 7.25% April 2023 Revolving line of credit Opportunity Funding SPE VI, LLC 50,000 25,000 16,148 LIBOR plus 7.25% April 2023 Revolving line of credit Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC 45,000 7,500 12,506 LIBOR plus 3.85% February 2024 Total revolving lines of credit 345,000 157,500 117,076 Term loan, net OppFi-LLC 50,000 48,468 14,650 LIBOR plus 10.00% March 2025 Total senior debt $ 395,000 $ 205,968 $ 131,726 Subordinated debt - related party OppFi-LLC $ — $ — $ 4,000 14.00% (1) December 2023 Other debt OppFi-LLC $ — $ — $ 6,354 1.00% (2) April 2022 (1) Interest rate as of 12/31/2020 and for the subsequent period thru and until loan was repaid (2) Interest rate as of 12/31/2020 and for the subsequent period thru and until loan was forgiven
Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit	As of September 30, 2021, required payments for all borrowings, excluding secured borrowing and revolving lines of credit, for each of the next five years are as follows (in thousands): Year Amount Remainder of 2021 $ — 2022 — 2023 — 2024 — 2025 50,000 Total $ 50,000

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2021
Warrants and Rights Note Disclosure [Abstract]
Summary of Fair Value of Warrant Units Estimated at Option Pricing Model	The fair value of the warrant units was estimated using an option pricing model that used the following assumptions: December 31, 2020 Expected term 3 years Volatility 52.0 % Discount for lack of marketability 45.0 % Risk free rate 0.2 % September 30, 2021 Interest rate on finance receivables 151.10 % Discount rate 21.70 % Servicing fee* 5.02 % Remaining life 0.58 years Default rate* 19.09 % Accrued interest* 3.20 % Prepayment rate* 21.40 % *Stated as a percentage of finance receivables The following table presents the significant assumptions used in the simulation at September 30, 2021 and July 20, 2021, the Closing Date: September 30, 2021 July 20, 2021 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 0.93 % 1.51 % 0.69 % 1.23 % Expected term (years) 4.8 9.8 5.0 10.0 Expected volatility 37.00 % 35.50 % 36.50 % 36.00 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 1.64 $ 2.23 $ 2.80 $ 3.50

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Company's Stock Option, Activity	A summary of the Company’s stock option activity for the three and nine months ended September 30, 2021 is as follows: Number of Common Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding as of December 31, 2020 — $ — — $ — Granted 5,600,000 15.23 — — Exercised — — — — Forfeited — — — — Outstanding as of September 30, 2021 5,600,000 $ 15.23 6.10 $ —
Schedule of Valuation Assumptions, Options	The fair value of each option grant was estimated on the grant date using the Black-Scholes option pricing model based on the following assumptions: Volatility 32.50 % Risk-free rate 0.91 % Years to expiration 6.10 Dividend yield 0.00 %
Schedule of Valuation Assumptions, Profit Unit Interests	The compensation expense accounted for all vested units based on the following assumptions: Expected term 3 years Volatility 68.0 % Discount for lack of marketability 45.0 % Risk free rate 0.2 %
Schedule of Profit Unit Interest	The following table summarizes data concerning the profit unit interest (units in thousands): Avg Fair Value Units at Grant Date Outstanding at December 31, 2019 9,799 $ 0.05 Granted 2,414 0.17 Forfeited (11) 0.03 Outstanding at December 31, 2020 12,202 0.08 Granted — — Forfeited (55) 0.08 Outstanding at March 31, 2021 12,147 0.08 Granted — — Forfeited — — Outstanding at June 30, 2021 12,147 0.08 Granted — — Forfeited (536) 0.10 Exchanged in reverse recapitalization (11,611) 0.08 Outstanding at September 30, 2021 — $ —
Schedule of Non-vested Units	The following table provides information pertaining to non-vested units (units in thousands): Avg Fair Value Units at Grant Date Non-vested units at December 31, 2019 3,467 $ 0.10 Granted 2,414 0.17 Vested (1,132) 0.13 Forfeited (11) 0.03 Non-vested units at December 31, 2020 4,738 0.12 Granted — — Vested (326) 0.15 Forfeited (55) 0.08 Non-vested units at March 31, 2021 4,357 0.12 Granted — — Vested (2,522) 0.07 Forfeited — — Non-vested units at June 30, 2021 1,835 0.20 Granted — — Vested (85) 0.20 Forfeited (536) 0.10 Exchanged in reverse recapitalization (1,214) 0.22 Non-vested units at September 30, 2021 — $ —

Interest and Loan Related Inc_2

Interest and Loan Related Income, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Interest and Fee Income, Loans and Leases [Abstract]
Summary of Interest and Loan Related Income	The following tables summarize interest and loan related income, net, for the three and nine months ended September 30 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest and loan related income, gross $ 91,448 $ 73,311 $ 253,581 $ 235,651 Amortization of loan origination costs — (10,818) — (37,464) Interest and loan related income, net $ 91,448 $ 62,493 $ 253,581 $ 198,187

Interest Expense and Amortize_2

Interest Expense and Amortized Debt Issuance Costs (Tables)	9 Months Ended
	Sep. 30, 2021
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Summary of Interest Expense And Amortized Debt Issuance Costs	The following tables summarize interest expense and amortized debt issuance costs for the three and nine months ended September 30 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Interest expense $ 5,842 $ 4,038 $ 15,535 $ 14,710 Amortized debt issuance costs 572 474 1,735 1,451 Interest expense and amortized debt issuance costs $ 6,414 $ 4,512 $ 17,270 $ 16,161

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 are as follows (in thousands): Carrying Value Fair Value Measurements September 30, 2021 Level 1 Level 2 Level 3 Financial assets: Finance receivables at fair value (1) $ 334,114 $ — $ — $ 334,114 Financial liabilities: Warrant liability - Public Warrants (3) 18,307 18,307 — — Warrant liability - Private Placement Warrants (4) 6,199 — — 6,199 Carrying Value Fair Value Measurements December 31, 2020 Level 1 Level 2 Level 3 Financial liabilities: Warrant units (2) $ 1,309 $ — $ — $ 1,309 During the three and nine months ended September 30, 2021, there were no transfers of assets or liabilities in or out of Level 1, Level 2 or Level 3 fair value measurements. (1) The Company primarily estimates the fair value of its installment finance receivables portfolio using discounted cash flow models that have been internally developed. The models use inputs that are unobservable but reflect the Company’s best estimates of the assumptions a market participant would use to calculate fair value. The following table presents quantitative information about the significant unobservable inputs used for the Company’s installment finance receivables fair value measurements as of September 30, 2021: September 30, 2021 Interest rate on finance receivables 151.10 % Discount rate 21.70 % Servicing fee* 5.02 % Remaining life 0.58 years Default rate* 19.09 % Accrued interest* 3.20 % Prepayment rate* 21.40 % *Stated as a percentage of finance receivables (2) The estimated fair value of the warrant units is calculated using an option pricing model. The resulting fair value measurement is categorized as a Level 3 measurement. Upon closing of the Business Combination, the lender exercised the warrant units and the liability was reclassified to additional paid in capital. As such, there is no warrant unit liability at September 30, 2021. For the three and nine months ended September 30, 2021, warrant expense was $888 thousand and $4,208 thousand, respectively. For the three and nine months ended September 30, 2020, there was no warrant expense. Warrant expense is included in general, administrative, and other in the consolidated statements of operations. The following table presents the change in the fair value of the warrant units (in thousands): Fair value as of December 31, 2020 $ 1,309 Change in fair value 4,208 Warrant units exercised (5,517) Fair value as of September 30, 2021 $ — (3) The fair value measurement for the Public Warrants is categorized as Level 1 due to the use of an observable market quote in an active market under the ticker OPFI WS. (4) The fair value of the Private Placement Warrants is measured using as Monte Carlo simulation. As such, the Private Placement Warrants are categorized as Level 3.
Schedule of Fair Value Measurement Input and Valuation Techniques	The fair value of the warrant units was estimated using an option pricing model that used the following assumptions: December 31, 2020 Expected term 3 years Volatility 52.0 % Discount for lack of marketability 45.0 % Risk free rate 0.2 % September 30, 2021 Interest rate on finance receivables 151.10 % Discount rate 21.70 % Servicing fee* 5.02 % Remaining life 0.58 years Default rate* 19.09 % Accrued interest* 3.20 % Prepayment rate* 21.40 % *Stated as a percentage of finance receivables The following table presents the significant assumptions used in the simulation at September 30, 2021 and July 20, 2021, the Closing Date: September 30, 2021 July 20, 2021 Input $11.50 Exercise $15 Exercise $11.50 Exercise $15 Exercise Risk-free interest rate 0.93 % 1.51 % 0.69 % 1.23 % Expected term (years) 4.8 9.8 5.0 10.0 Expected volatility 37.00 % 35.50 % 36.50 % 36.00 % Exercise price $ 11.50 $ 15.00 $ 11.50 $ 15.00 Fair value of warrants $ 1.64 $ 2.23 $ 2.80 $ 3.50
Schedule of Changes in Fair Value of Liabilities	The following table presents the change in the fair value of the warrant units (in thousands): Fair value as of December 31, 2020 $ 1,309 Change in fair value 4,208 Warrant units exercised (5,517) Fair value as of September 30, 2021 $ — The following table presents the changes in the fair value of the warrant liability - Private Placement Warrants (in thousands): $11.50 Exercise $15 Exercise Total Fair value as of Closing Date, July 20, 2021 $ 7,110 $ 3,194 $ 10,304 Change in fair value (2,946) (1,159) (4,105) Fair value as of September 30, 2021 $ 4,164 $ 2,035 $ 6,199
Schedule of Carrying Value and Estimated Fair Values of Financial Assets and Liabilities	The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy as of September 30, 2021 (in thousands): Carrying Value Fair Value Measurements September 30, 2021 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 27,627 $ 27,627 $ — $ — Restricted cash 29,175 29,175 — — Finance receivables at amortized cost, net 1,269 — — 1,269 Liabilities: Secured borrowing payable 19,791 — — 19,791 Senior debt, net 205,968 — — 205,968 The following table presents the carrying value and estimated fair values of financial assets and liabilities disclosed but not carried at fair value and the level within the fair value hierarchy as of December 31, 2020 (in thousands): Carrying Value Fair Value Measurements December 31, 2020 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 25,601 $ 25,601 $ — $ — Restricted cash 20,056 20,056 — — Finance receivables at amortized cost, net 222,243 — — 287,437 Liabilities: Reserve for repurchase liability 4,241 — — 4,241 Secured borrowing payable 16,025 — — 16,025 Senior debt, net 131,726 — — 131,726 Subordinated debt - related party 4,000 — — 4,000 Other debt 6,354 — — 6,354

Commitments, Contingencies an_2

Commitments, Contingencies and Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments Contingencies And Related Party Transactions [Abstract]
Schedule of Future Minimum Lease Payments	Future minimum lease payments as of September 30, 2021 are as follows (in thousands): Year Amount Remainder of 2021 $ 562 2022 2,271 2023 2,339 2024 2,410 2025 2,482 Thereafter 12,840 Total $ 22,904

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2021 (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 Numerator: Net income $ 30,392 $ 72,763 Net income attributable to noncontrolling interest 16,267 58,638 Net income available to Class A common stockholders - Basic 14,125 14,125 Dilutive effect of warrants on net income to Class A common stockholders — — Net income available to Class A common stockholders - Diluted $ 14,125 $ 14,125 Denominator: Weighted average Class A common stock outstanding - Basic 13,363,995 13,107,873 Effect of dilutive securities: Stock options — — Warrants — — Dilutive potential common shares — — Weighted average units outstanding - diluted 13,363,995 13,107,873 Earnings per share: Basic EPS $ 1.06 $ 1.08 Diluted earnings per unit $ 1.06 $ 1.08
Schedule of Antidilutive Securities Excluded from Calculation of Earnings Per Share	The following table presents securities that have been excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive for the three and nine months ended September 30, 2021: Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 Public Warrants 11,887,500 11,887,500 Private Unit Warrants 231,250 231,250 $11.50 Exercise Price Warrants 2,248,750 2,248,750 $15 Exercise Price Warrants 912,500 912,500 Underwriter Warrants 59,437 59,437 Stock Options 5,600,000 5,600,000 Potential common stock 20,939,437 20,939,437

Organization and Nature of Op_2

Organization and Nature of Operations (Details) - $ / shares	Sep. 30, 2021	Jul. 20, 2021
Class of Stock [Line Items]
Ownership interest held, percent	12.20%	11.80%
Class A Common Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Class V Voting Stock
Class of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Jul. 20, 2021	Dec. 31, 2020USD ($)	May 01, 2020	Apr. 30, 2020
Accounting Policies [Abstract]
Number of reportable segments | segment			1
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual period for financing receivables			60 days
Off-balance sheet active finance receivables						$ 19,722,000
Reserve for repurchase liabilities						4,241,000
Restricted cash balance held in a federally insured bank account						3,069,000
Restricted cash balance payable balance						784,000
Finance receivables originated through the bank partnership arrangements, percentage			88.00%	61.00%
Finance receivables originated through the bank partnership arrangements	$ 7,976,000		$ 7,976,000			3,307,000
Percent of scheduled payment considered as a qualifying payment							90.00%	50.00%
Property, Plant and Equipment [Line Items]
Development and capitalized software costs	3,823,000	$ 2,346,000	9,896,000	$ 6,470,000
Capitalized software costs, amortization expense	2,468,000	$ 1,579,000	6,588,000	$ 4,229,000
Percent of tax benefits with provided payment					0.90
Percent of tax benefits retained by company					0.10
Tax receivable agreement liability	22,866,000		$ 22,866,000			$ 0
Recency delinquency
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual period for financing receivables			60 days
Contractual delinquency
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual period for financing receivables			90 days
Minimum
Property, Plant and Equipment [Line Items]
Useful life			3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life			5 years
Ohio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables remaining under CSO program	0		$ 0
Texas
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables remaining under CSO program	$ 0		$ 0
Existing Equity Holders
Schedule Of Reverse Recapitalization [Line Items]
Ownership interest retained	87.80%		87.80%

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Impact of Adoption on the Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Jan. 01, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 146	$ 11		$ 55,031	$ 47,534	$ 43,858	$ 53,146
Reserve for repurchase liability	0			4,241
Increase in retained earnings	$ (82,182)			$ 92,320
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fair value adjustment to finance receivables			$ 23,584
Allowance for credit losses			55,031
Unamortized loan origination costs			(13,421)
Reserve for repurchase liability			4,241
Increase in retained earnings			$ 69,435

Business Combination (Detail)

Business Combination (Detail) $ / shares in Units, $ in Thousands	Jul. 20, 2021USD ($)$ / sharesshares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)
Schedule Of Reverse Recapitalization [Line Items]
Aggregate value of consideration paid to Members in Business Combination | $	$ 806,517
Payments For reverse recapitalization | $	91,646	$ 91,646	$ 0
Direct and incremental costs incurred in connection with the business combination | $	30,551
Business combination costs recorded as reduction of additional-paid in capital | $	$ 21,591	$ (78,468)	$ 0
Percent of tax benefits with provided payment	0.90
Deferred tax asset recognized in business combination | $	$ 24,303
Class A Common Stock
Schedule Of Reverse Recapitalization [Line Items]
Reverse recapitalization (in shares)	12,977,690
Common stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common stock, shares, issued (in shares)	12,977,690	13,464,542
Common stock, shares, outstanding (in shares)	12,977,690	13,464,542
Conversion of stock (in shares)	3,443,750
Unit conversion (in shares)	486,852
Class B Common Stock
Schedule Of Reverse Recapitalization [Line Items]
Common stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common stock, shares, issued (in shares)		0
Common stock, shares, outstanding (in shares)		0
Class V Voting Stock
Schedule Of Reverse Recapitalization [Line Items]
Reverse recapitalization (in shares)	96,987,093
Common stock, par or stated value per share (in dollars per share) | $ / shares		$ 0.0001
Stock issued to shareholders (in shares)	96,987,093
Common stock, shares, issued (in shares)		96,500,241
Common stock, shares, outstanding (in shares)		96,500,241
Stock subject to restrictions (in shares)	25,500,000
Earnout Units
Schedule Of Reverse Recapitalization [Line Items]
Stock subject to restrictions (in shares)	25,500,000
Existing Equity Holders
Schedule Of Reverse Recapitalization [Line Items]
Ownership interest retained		87.80%

Finance Receivables - Schedule

Finance Receivables - Schedule of Components of Installment Finance Receivables At Fair Value (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Unpaid principal balance of finance receivables - accrual		$ 272,678
Unpaid principal balance of finance receivables - non-accrual		19,198
Unpaid principal balance of finance receivables		291,876
Finance receivables at fair value - accrual		323,931
Finance receivables at fair value - non-accrual		941
Finance receivables at fair value, excluding accrued interest and fees receivable		324,872
Accrued interest and fees receivable		9,242
Finance receivables at fair value	[1]	334,114	$ 0
Difference between unpaid principal balance and fair value		$ 32,996
[1]	(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Additiona

Finance Receivables - Additional Information (Detail) - USD ($)		9 Months Ended
		Sep. 30, 2021	Jan. 01, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Accrual period for financing receivables		60 days
Aggregate balance of finance receivables	[1]	$ 334,114,000		$ 0
Fair value of finance receivables		291,876,000
Reserve for repurchase liability for third-party lender losses			$ 0		$ 3,524,000	$ 3,180,000	$ 4,978,000
Finance receivables in non-accrual status		3,000		19,277,000
Financing receivables under CSO program which were greater than 90 days past due		$ 0		0
Recency delinquency
Accrual period for financing receivables		60 days
Contractual delinquency
Accrual period for financing receivables		90 days
90+ days
Aggregate balance of finance receivables		$ 9,979,000		489,000
Fair value of finance receivables		$ 9,979,000		$ 489,000
[1]	(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Changes i

Finance Receivables - Changes in Fair Value of Finance Installment Receivables (Details) - Financing Receivable - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning of the period	$ 296,381	$ 289,166
Originations of principal	155,055	401,373
Repayments of principal	(98,202)	(303,305)
Accrued interest and fees receivable	(180)	1,332
Charge-offs, net	(24,891)	(62,046)
Adjustment to fair value		(1,817)
Net change in fair value	5,951	9,411
Balance at the end of the period	$ 334,114	$ 334,114

Finance Receivables - Schedul_2

Finance Receivables - Schedule of Finance Receivables (Detail) - USD ($) $ in Thousands		Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Finance receivables		$ 1,402		$ 255,943
Accrued interest and fees		13		7,910
Unamortized loan origination costs		0		13,421
Allowance for credit losses		(146)	$ (11)	(55,031)	$ (47,534)	$ (43,858)	$ (53,146)
Finance receivables at amortized cost, net	[1]	$ 1,269		$ 222,243
[1]	(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Finance Receivables - Summary o

Finance Receivables - Summary of Changes in Allowance for Credit Losses on Finance Receivables (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 11	$ 43,858	$ 55,031	$ 53,146
Effects of adopting fair value option			(55,031)	0
Provisions for credit losses on finance receivables	143	16,303	181	56,136
Finance receivables charged off	(8)	(15,277)	(35)	(70,073)
Recoveries of charge offs	0	2,650	0	8,325
Ending balance	$ 146	$ 47,534	$ 146	$ 47,534

Finance Receivables - Summary_2

Finance Receivables - Summary of Changes in Reserve for Repurchase Liability (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Securities Purchased under Agreements to Resell, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 3,180	$ 4,978
Provision for repurchase liabilities	1,577	6,619
Finance receivables charged off	(1,427)	(8,772)
Recoveries of charge offs	194	699
Ending balance	$ 3,524	$ 3,524

Finance Receivables - Summary_3

Finance Receivables - Summary of Credit Quality Finance Receivable Portfolio (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Recency delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 1,415	$ 255,943
Recency delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	1,368	240,623
Recency delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	44	7,760
Recency delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	3	7,560
Recency delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	0	0
Recency delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	47	15,320
Contractual delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	1,415	255,943
Contractual delinquency | Current
Financing Receivable, Past Due [Line Items]
Finance receivables	1,378	220,438
Contractual delinquency | 30-59 days
Financing Receivable, Past Due [Line Items]
Finance receivables	34	12,574
Contractual delinquency | 60-89 days
Financing Receivable, Past Due [Line Items]
Finance receivables	3	9,852
Contractual delinquency | 90+ days
Financing Receivable, Past Due [Line Items]
Finance receivables	0	13,079
Contractual delinquency | Total delinquency
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 37	$ 35,505

Property, Equipment and Softw_3

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 35,552	$ 24,998
Less accumulated depreciation and amortization	(21,725)	(14,440)
Property, equipment and software, net	13,827	10,558
Capitalized technology
Property, Plant and Equipment [Line Items]
Property, equipment and software	30,804	20,908
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software	3,769	3,228
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 979	$ 862

Property, Equipment and Softw_4

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 2,712	$ 1,799	$ 7,289	$ 4,775

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Detail) - USD ($)	Sep. 30, 2021	Mar. 23, 2021	Mar. 22, 2021	Jan. 31, 2020	Aug. 31, 2019	Sep. 30, 2021	Mar. 29, 2021	Dec. 31, 2020	Apr. 30, 2020	Apr. 13, 2020	Apr. 30, 2019	Nov. 30, 2018	Aug. 13, 2018	Jan. 23, 2018
Debt Instrument [Line Items]
Total	$ 50,000,000					$ 50,000,000
Secured borrowing payable
Debt Instrument [Line Items]
Borrower						Opportunity Funding SPE II, LLC
Borrowing Capacity	38,036,000					$ 38,036,000
Total	$ 19,791,000					$ 19,791,000		$ 16,025,000
Interest rate	15.00%					15.00%
Maturity Date						December 2021
Senior debt
Debt Instrument [Line Items]
Borrowing Capacity	$ 395,000,000					$ 395,000,000
Total	205,968,000					205,968,000		131,726,000
Senior debt | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing Capacity	345,000,000					345,000,000
Total	157,500,000					$ 157,500,000		117,076,000
Senior debt | Revolving Line Of Credit, Maturing February 2022, OppFi-LLC
Debt Instrument [Line Items]
Borrower						OppFi-LLC
Borrowing Capacity	0					$ 0							$ 10,000,000
Total	0					$ 0		5,000,000
Maturity Date						February 2022
Senior debt | Revolving Line Of Credit, Maturing February 2022, OppFi-LLC | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						2.50%
Senior debt | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Debt Instrument [Line Items]
Borrower						Opportunity Funding SPE III, LLC
Borrowing Capacity	175,000,000			$ 175,000,000		$ 175,000,000								$ 75,000,000
Total	87,500,000					$ 87,500,000		59,200,000
Maturity Date						January 2024
Senior debt | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				6.00%		6.00%
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE V, LLC
Debt Instrument [Line Items]
Borrower						Opportunity Funding SPE V, LLC
Borrowing Capacity	75,000,000					$ 75,000,000					$ 75,000,000
Total	37,500,000					$ 37,500,000		24,222,000
Maturity Date						April 2023
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE V, LLC | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						7.25%
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Debt Instrument [Line Items]
Borrower						Opportunity Funding SPE VI, LLC
Borrowing Capacity	50,000,000					$ 50,000,000					$ 50,000,000
Total	25,000,000					$ 25,000,000		16,148,000
Maturity Date						April 2023
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						7.25%
Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Debt Instrument [Line Items]
Borrower						Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Borrowing Capacity	45,000,000				$ 25,000,000	$ 45,000,000
Total	$ 7,500,000					$ 7,500,000		12,506,000
Maturity Date						February 2024
Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	3.85%				4.25%	3.85%
Senior debt | Term loan, net
Debt Instrument [Line Items]
Borrower						OppFi-LLC
Borrowing Capacity	$ 50,000,000					$ 50,000,000			$ 50,000,000			$ 25,000,000
Total	48,468,000					$ 48,468,000		14,650,000
Maturity Date						March 2025
Senior debt | Term loan, net | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		10.00%	14.00%			10.00%
Subordinated debt - related party
Debt Instrument [Line Items]
Borrower						OppFi-LLC
Borrowing Capacity	0					$ 0	$ 4,000,000
Total	$ 0					$ 0		4,000,000
Interest rate	14.00%					14.00%
Maturity Date						December 2023
Other debt
Debt Instrument [Line Items]
Borrower						OppFi-LLC
Borrowing Capacity	$ 0					$ 0				$ 6,354,000
Total	$ 0					$ 0		$ 6,354,000
Interest rate	1.00%					1.00%
Maturity Date						April 2022

Borrowings - Additional Informa

Borrowings - Additional Information (Detail)		Sep. 30, 2021USD ($)	Sep. 13, 2021USD ($)	Mar. 30, 2021USD ($)	Mar. 29, 2021USD ($)	Mar. 23, 2021	Mar. 22, 2021	Jan. 31, 2020USD ($)	Jan. 23, 2018USD ($)	May 31, 2020USD ($)	Aug. 31, 2019USD ($)	Apr. 30, 2019USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2018USD ($)state	Dec. 31, 2020USD ($)	Apr. 30, 2020USD ($)	Apr. 13, 2020USD ($)	Nov. 30, 2018USD ($)	Aug. 13, 2018USD ($)
Short-term Debt [Line Items]
Secured debt	[1]	$ 19,791,000											$ 19,791,000		$ 19,791,000			$ 16,025,000
Interest expense													5,842,000	$ 4,038,000	15,535,000	$ 14,710,000
Amortized debt issuance costs													572,000	474,000	1,735,000	1,451,000
Debt issuance costs, net	[1]	1,650,000											1,650,000		1,650,000			2,598,000
Interest expense paid															16,046,000	15,692,000
Outstanding debt		50,000,000											50,000,000		50,000,000
Interest expense paid to related party													0	141,000	137,000	420,000
Paycheck Protection Program, CARES Act
Short-term Debt [Line Items]
Interest expense													13,000		90,000
Outstanding debt		0											0		0
Paycheck Protection Program, CARES Act | Extinguishment of Debt, Principal
Short-term Debt [Line Items]
Extinguishment of debt, amount			$ 6,354,000
Paycheck Protection Program, CARES Act | Extinguishment of Debt, Interest
Short-term Debt [Line Items]
Interest expense			$ 90,000
Secured borrowing payable
Short-term Debt [Line Items]
Purchase commitment by the unrelated third party										$ 165,000,000							$ 65,000,000
Purchase commitment by the unrelated third party, additional commitment										$ 100,000,000							$ 100,000,000
Finance receivable purchased		126,964,000											126,964,000		126,964,000			79,816,000
Secured debt		19,791,000											19,791,000		19,791,000			16,025,000
Interest expense													655,000	475,000	2,027,000	1,585,000
Capitalized issuance costs															168,000
Amortized debt issuance costs													4,000	13,000	29,000	38,000
Debt issuance costs, net		0											0		0			30,000
Debt agreement, maximum available amount		38,036,000											38,036,000		38,036,000
Outstanding debt		19,791,000											19,791,000		19,791,000			16,025,000
Secured borrowing payable | SPE II, LLC
Short-term Debt [Line Items]
Percentage of unsecured finance receivable sold																	97.50%
Percentage of preferred return																	15.00%
Term of extension																	1 year
Number of options to renew | state																	2
Term of purchase period renewal																	18 months
Senior debt
Short-term Debt [Line Items]
Debt agreement, maximum available amount		395,000,000											395,000,000		395,000,000
Outstanding debt		205,968,000											205,968,000		205,968,000			131,726,000
Senior debt | Revolving Line Of Credit, Maturing February 2022, OppFi-LLC
Short-term Debt [Line Items]
Capitalized issuance costs															294,000
Amortized debt issuance costs													0	3,000	21,000	19,000
Debt issuance costs, net																		21,000
Debt agreement, maximum available amount		0											0		0							$ 10,000,000
Interest expense paid														39,000	35,000	123,000
Outstanding debt		0											0		0			5,000,000
Senior debt | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Short-term Debt [Line Items]
Interest expense													1,908,000	1,514,000	5,094,000	6,051,000
Capitalized issuance costs															2,100,000
Amortized debt issuance costs													177,000	171,000	530,000	565,000
Debt issuance costs, net		942,000											942,000		942,000			1,453,000
Debt agreement, maximum available amount		175,000,000						$ 175,000,000	$ 75,000,000				175,000,000		175,000,000
Debt agreement, interest payment frequency									monthly
Basis for effective rate								one-month LIBOR plus 6 percent with a 2 percent LIBOR floor
Outstanding debt		87,500,000											87,500,000		87,500,000			59,200,000
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE V, LLC
Short-term Debt [Line Items]
Interest expense													966,000	742,000	2,531,000	2,742,000
Capitalized issuance costs															1,158,000
Amortized debt issuance costs													106,000	100,000	318,000	283,000
Debt issuance costs, net		230,000											230,000		230,000			538,000
Debt agreement, maximum available amount		75,000,000										$ 75,000,000	75,000,000		75,000,000
Debt agreement, interest payment frequency												monthly
Outstanding debt		37,500,000											37,500,000		37,500,000			24,222,000
Senior debt | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Short-term Debt [Line Items]
Interest expense													644,000	494,000	1,688,000	1,843,000
Capitalized issuance costs															918,000
Amortized debt issuance costs													83,000	76,000	247,000	227,000
Debt issuance costs, net		178,000											178,000		178,000			425,000
Debt agreement, maximum available amount		50,000,000										$ 50,000,000	50,000,000		50,000,000
Debt agreement, interest payment frequency												monthly
Outstanding debt		25,000,000											25,000,000		25,000,000			16,148,000
Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Short-term Debt [Line Items]
Interest expense													110,000	104,000	332,000	401,000
Capitalized issuance costs															626,000
Amortized debt issuance costs													93,000	52,000	308,000	148,000
Debt issuance costs, net		50,000											50,000		50,000			131,000
Debt agreement, maximum available amount		$ 45,000,000									$ 25,000,000		45,000,000		45,000,000
Debt agreement, interest payment frequency											monthly
Basis for effective rate		LIBOR plus 3.85% with a 0.4% LIBOR floor
Outstanding debt		$ 7,500,000											7,500,000		7,500,000			12,506,000
Senior debt | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC | SalaryTap Funding SPE, LLC
Short-term Debt [Line Items]
Capitalized issuance costs															250,000
Debt issuance costs, net		250,000											250,000		250,000
Senior debt | Term loan, net
Short-term Debt [Line Items]
Interest expense													1,546,000	670,000	3,738,000	1,965,000
Capitalized issuance costs															2,295,000
Amortized debt issuance costs													109,000	59,000	282,000	171,000
Debt issuance costs, net		1,532,000											1,532,000		1,532,000			331,000
Debt agreement, maximum available amount		50,000,000											50,000,000		50,000,000				$ 50,000,000		$ 25,000,000
Principal amount of debt		50,000,000											50,000,000		50,000,000			15,000,000
Proceeds from draw down of available commitment				$ 35,000,000
Outstanding debt		48,468,000											48,468,000		48,468,000			14,650,000
Unamortized discount		$ 0											0		$ 0			19,000
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing February 2022, OppFi-LLC
Short-term Debt [Line Items]
Basis spread on variable rate															2.50%
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing January 2024, Opportunity Funding SPE III, LLC
Short-term Debt [Line Items]
Basis spread on variable rate								6.00%							6.00%
Basis spread on variable rate floor								2.00%
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE V, LLC
Short-term Debt [Line Items]
Basis spread on variable rate															7.25%
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing April 2023, Opportunity Funding SPE VI, LLC
Short-term Debt [Line Items]
Basis spread on variable rate															7.25%
Senior debt | London Interbank Offered Rate (LIBOR) | Revolving Line Of Credit, Maturing February 2024, Opportunity Funding SPE IV, LLC; SalaryTap Funding SPE, LLC
Short-term Debt [Line Items]
Basis spread on variable rate		3.85%									4.25%				3.85%
Basis spread on variable rate floor		0.40%
Senior debt | London Interbank Offered Rate (LIBOR) | Term loan, net
Short-term Debt [Line Items]
Basis spread on variable rate						10.00%	14.00%								10.00%
Subordinated debt - related party
Short-term Debt [Line Items]
Debt agreement, maximum available amount		$ 0			$ 4,000,000								0		$ 0
Debt agreement, interest payment frequency					quarterly
Outstanding debt		0											0		0			4,000,000
Interest expense paid to related party														$ 141,000	137,000	$ 420,000
Other debt
Short-term Debt [Line Items]
Debt agreement, maximum available amount		0											0		0					$ 6,354,000
Outstanding debt		$ 0											$ 0		$ 0			$ 6,354,000
[1]	(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Borrowings - Summary of Require

Borrowings - Summary of Required Payments for Borrowings, Excluding Secured Borrowing and Revolving Lines of Credit (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
Remainder of 2021	$ 0
2022	0
2023	0
2024	0
2025	50,000
Total	$ 50,000

Warrants - Summary of Fair Valu

Warrants - Summary of Fair Value of Warrant Units Estimated at Option Pricing Model (Detail)	Dec. 31, 2020yr
Expected term
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the warrant	3
Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the warrant	0.520
Discount for lack of marketability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the warrant	0.450
Risk free rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the warrant	0.002

Warrants - Additional Informati

Warrants - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)day$ / sharesshares	Sep. 30, 2020USD ($)	Jul. 20, 2021USD ($)shares	Jul. 19, 2021USD ($)	Dec. 31, 2020USD ($)
Class of Warrant or Right [Line Items]
Derivative liability, Fair value | $					$ 0	$ 5,517,000	$ 1,309,000
Warrant liabilities | $	$ 24,506,000		$ 24,506,000				$ 0
Change in fair value of warrant liability | $	$ 13,139,000	$ 0	$ 13,139,000	$ 0
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares	11,887,500		11,887,500
Exercise price of warrants or rights (in dollars per share) | $ / shares	$ 11.50		$ 11.50
Expiration period			5 years
Redemption price (in dollars per share) | $ / shares			$ 0.01
Redemption period			30 days
Warrant, number of trading days of sale price of common stock for redemption | day			20
Warrant, number of consecutive trading days | day			30
Change in fair value of warrant liability | $	$ 9,034,000		$ 9,034,000
Public Warrants | Class A Common Stock
Class of Warrant or Right [Line Items]
Number of shares entitled to holders of each whole warrant (in shares) | shares	1		1
Redemption trigger price (in dollars per share) | $ / shares			$ 18
Private Unit Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares					3,451,964
Change in fair value of warrant liability | $	$ 4,105,000		$ 4,105,000
$11.50 Exercise Price Warrants
Class of Warrant or Right [Line Items]
Exercise price of warrants or rights (in dollars per share) | $ / shares	$ 11.50		$ 11.50
$11.50 Exercise Price Warrants | Class A Common Stock
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares	2,539,464		2,539,464
$15 Exercise Price Warrants
Class of Warrant or Right [Line Items]
Exercise price of warrants or rights (in dollars per share) | $ / shares	$ 15		$ 15
Expiration period			10 years
$15 Exercise Price Warrants | Class A Common Stock
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares	912,500		912,500

Stockholders_ Equity_Members__2

Stockholders’ Equity/Members’ Equity - Additional information (Details)	Sep. 30, 2021vote$ / sharesshares	Jul. 20, 2021$ / sharesshares
Class of Stock [Line Items]
Ownership interest held, percent	12.20%	11.80%
Preferred stock, shares authorized (in shares)	1,000,000
Preferred stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	379,000,000
Common stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common stocks, number of votes per share | vote	1
Common stock, shares, issued (in shares)	13,464,542	12,977,690
Common stock, shares, outstanding (in shares)	13,464,542	12,977,690
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	6,000,000
Common stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Common stocks, number of votes per share | vote	1
Common stock, shares, issued (in shares)	0
Common stock, shares, outstanding (in shares)	0
Class V Voting Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	115,000,000
Common stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001
Common stocks, number of votes per share | vote	1
Common stock, shares, issued (in shares)	96,500,241
Common stock, shares, outstanding (in shares)	96,500,241

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jul. 20, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation not yet recognized related to unvested options	$ 13,046,000		$ 13,046,000
Unrecognized compensation expense	0		0			$ 386,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	673,000		$ 673,000
Unvested award, cost not yet recognized, period for recognition			4 years
Profit Unit Interest
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 270,000	$ 0	$ 499,000	$ 0
Equity Incentive Plan 2021 | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Award expiration period			10 years
Equity Incentive Plan 2021 | Stock Options | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
Award vesting percentage			25.00%
Equity Incentive Plan 2021 | Stock Options | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			36 months
Award vesting percentage			75.00%
Class A Common Stock | Equity Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)					11,500,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Number of Common Stock Options
Outstanding beginning balance (in shares)	0
Granted (in shares)	5,600,000
Exercised (in shares)	0
Forfeited (in shares)	0
Outstanding ending balance (in shares)	5,600,000
Weighted-Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 0
Granted (in dollars per share)	15.23
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Outstanding ending balance (in dollars per share)	$ 15.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Life (Years)	6 years 1 month 6 days
Aggregate Intrinsic Value	$ 0	$ 0

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Valuation Assumptions, Options (Details) - Stock Options	9 Months Ended
	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	32.50%
Risk free rate	0.91%
Expected term	6 years 1 month 6 days
Dividend yield	0.00%

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Valuation Assumptions, Profit Unit Interests (Detail) - Profit Unit Interest	12 Months Ended
	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	3 years
Volatility	68.00%
Discount for lack of marketability	45.00%
Risk free rate	0.20%

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Profit Unit Interest (Detail) - Profit Unit Interest - $ / shares	3 Months Ended			12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Units
Outstanding beginning balance (in shares)	12,147	12,147	12,202	9,799
Granted (in shares)	0	0	0	2,414
Forfeited (in shares)	(536)	0	(55)	(11)
Exchanged in reverse recapitalization (in shares)	(11,611)
Outstanding ending balance (in shares)	0	12,147	12,147	12,202
Avg Fair Value at Grant Date
Outstanding beginning balance (in dollars per share)	$ 0.08	$ 0.08	$ 0.08	$ 0.05
Granted (in dollars per share)	0	0	0	0.17
Forfeited (in dollars per share)	0.10	0	0.08	0.03
Exchanged in reverse recapitalization (in dollars per share)	0.08
Outstanding ending balance (in dollars per share)	$ 0	$ 0.08	$ 0.08	$ 0.08

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Non-vested Units (Detail) - Non-vested Units - $ / shares	3 Months Ended			12 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Units
Outstanding beginning balance (in shares)	1,835	4,357	4,738	3,467
Granted (in shares)	0	0	0	2,414
Vested (in shares)	(85)	(2,522)	(326)	(1,132)
Forfeited (in shares)	(536)	0	(55)	(11)
Exchanged in reverse recapitalization (in shares)	(1,214)
Outstanding ending balance (in shares)	0	1,835	4,357	4,738
Avg Fair Value at Grant Date
Outstanding beginning balance (in dollars per share)	$ 0.20	$ 0.12	$ 0.12	$ 0.10
Granted (in dollars per share)	0	0	0	0.17
Vested (in dollars per share)	0.20	0.07	0.15	0.13
Forfeited (in dollars per share)	0.10	0	0.08	0.03
Exchanged in reverse recapitalization (in dollars per share)	0.22
Outstanding ending balance (in dollars per share)	$ 0	$ 0.20	$ 0.12	$ 0.12

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jul. 20, 2021	Dec. 31, 2020USD ($)
Income Tax Examination [Line Items]
Provision for income taxes	$ 703,000	$ 0	$ 703,000	$ 0
Income before income taxes	$ 31,095,000	19,342,000	$ 73,466,000	61,358,000
Effective income tax rate, percent	2.30%		1.00%
Ownership interest held, percent	12.20%		12.20%		11.80%
Percent of tax benefits with provided payment					0.90
Percent of tax benefits retained by company					0.10
Tax receivable agreement liability	$ 22,866,000		$ 22,866,000			$ 0
Unrecognized tax benefits	0	0	0	0
Income tax examination, penalties and interest accrued	$ 0		$ 0
Pro Forma
Income Tax Examination [Line Items]
Provision for income taxes		561,000		1,779,000
Income before income taxes		$ 19,342,000		$ 61,358,000
Effective income tax rate, percent		2.90%		2.90%

Interest and Loan Related Inc_3

Interest and Loan Related Income, Net - Summary of Interest and Loan Related Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest and Fee Income, Loans and Leases [Abstract]
Interest and loan related income, gross	$ 91,448	$ 73,311	$ 253,581	$ 235,651
Amortization of loan origination costs	0	(10,818)	0	(37,464)
Interest and loan related income, net	$ 91,448	$ 62,493	$ 253,581	$ 198,187

Interest Expense and Amortize_3

Interest Expense and Amortized Debt Issuance Costs - Summary of Interest Expense And Amortized Debt Issuance Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest Expense And Amortized Debt Issuance Costs [Abstract]
Interest expense	$ 5,842	$ 4,038	$ 15,535	$ 14,710
Amortized debt issuance costs	572	474	1,735	1,451
Interest expense and amortized debt issuance costs	$ 6,414	$ 4,512	$ 17,270	$ 16,161

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities that are Measured at Fair Value on Recurring Basis (Detail) - USD ($)		Sep. 30, 2021	Jul. 20, 2021	Jul. 19, 2021	Dec. 31, 2020
Financial assets:
Finance receivables at fair value	[1]	$ 334,114,000			$ 0
Financial liabilities:
Warrant liabilities		24,506,000			0
Warrant units			$ 0	$ 5,517,000	1,309,000
Fair Value, Recurring | Carrying Value
Financial assets:
Finance receivables at fair value		334,114,000
Financial liabilities:
Warrant units		0			1,309,000
Fair Value, Recurring | Carrying Value | Public Warrants
Financial liabilities:
Warrant liabilities		18,307,000
Fair Value, Recurring | Carrying Value | Private Placement Warrants
Financial liabilities:
Warrant liabilities		6,199,000
Fair Value, Recurring | Fair Value Measurements | Level 1
Financial assets:
Finance receivables at fair value		0
Financial liabilities:
Warrant units					0
Fair Value, Recurring | Fair Value Measurements | Level 1 | Public Warrants
Financial liabilities:
Warrant liabilities		18,307,000
Fair Value, Recurring | Fair Value Measurements | Level 1 | Private Placement Warrants
Financial liabilities:
Warrant liabilities		0
Fair Value, Recurring | Fair Value Measurements | Level 2
Financial assets:
Finance receivables at fair value		0
Financial liabilities:
Warrant units					0
Fair Value, Recurring | Fair Value Measurements | Level 2 | Public Warrants
Financial liabilities:
Warrant liabilities		0
Fair Value, Recurring | Fair Value Measurements | Level 2 | Private Placement Warrants
Financial liabilities:
Warrant liabilities		0
Fair Value, Recurring | Fair Value Measurements | Level 3
Financial assets:
Finance receivables at fair value		334,114,000
Financial liabilities:
Warrant units					$ 1,309,000
Fair Value, Recurring | Fair Value Measurements | Level 3 | Public Warrants
Financial liabilities:
Warrant liabilities		0
Fair Value, Recurring | Fair Value Measurements | Level 3 | Private Placement Warrants
Financial liabilities:
Warrant liabilities		$ 6,199,000
[1]	(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Installment Financing Receivables (Detail)	Sep. 30, 2021
Interest rate on finance receivables
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivable, fair value measurement	1.5110
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivable, fair value measurement	0.2170
Servicing fee
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivable, fair value measurement	0.0502
Remaining life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivable, fair value measurement	0.58
Default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivable, fair value measurement	0.1909
Accrued interest
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivable, fair value measurement	0.0320
Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Installment financing receivable, fair value measurement	0.2140

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jul. 20, 2021	Jul. 19, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability					$ 0	$ 5,517,000	$ 1,309,000
Level 3 | Warrant units
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant expense	$ 888,000	$ 0	$ 4,208,000	$ 0

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Changes in Fair Value of Warrant Units (Detail) - Level 3 - Warrant units - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance			$ 1,309
Change in fair value	$ 888	$ 0	4,208	$ 0
Warrant units exercised			(5,517)
Ending Balance	$ 0		$ 0

Fair Value Measurements - Sch_4

Fair Value Measurements - Schedule of Fair Value Measurement Input and Valuation Techniques of Private Placement Warrants (Detail) - Level 3 - Warrants	Sep. 30, 2021USD ($)	Jul. 20, 2021USD ($)
$11.50 Exercise Price Warrants | Risk free rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.0093	0.0069
$11.50 Exercise Price Warrants | Expected term
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	4,800	5,000
$11.50 Exercise Price Warrants | Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.3700	0.3650
$11.50 Exercise Price Warrants | Exercise price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	11.50	11.50
$11.50 Exercise Price Warrants | Fair value of warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	1.64	2.80
$15 Exercise Price Warrants | Risk free rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.0151	0.0123
$15 Exercise Price Warrants | Expected term
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	9,800	10,000
$15 Exercise Price Warrants | Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	0.3550	0.3600
$15 Exercise Price Warrants | Exercise price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	15	15
$15 Exercise Price Warrants | Fair value of warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants, fair value measurement	2.23	3.50

Fair Value Measurements - Sch_5

Fair Value Measurements - Schedule of Changes in Fair Value of Private Placement Warrants (Detail) - Level 3 - Warrants $ in Thousands	2 Months Ended
	Sep. 30, 2021USD ($)
Private Placement Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 10,304
Change in fair value	(4,105)
Ending Balance	6,199
$11.50 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	7,110
Change in fair value	(2,946)
Ending Balance	4,164
$15 Exercise Price Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	3,194
Change in fair value	(1,159)
Ending Balance	$ 2,035

Fair Value Measurements - Sch_6

Fair Value Measurements - Schedule of Carrying Value and Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	[1]	$ 27,627	$ 25,601
Restricted cash	[1]	29,175	20,056
Finance receivables at amortized cost, net	[1]	1,269	222,243
Liabilities:
Reserve for repurchase liability			4,241
Secured debt	[1]	19,791	16,025
Senior debt, net	[1]	205,968	131,726
Subordinated debt - related party		0	4,000
Other debt		0	6,354
Level 1
Assets
Cash and cash equivalents		27,627	25,601
Restricted cash		29,175	20,056
Finance receivables at amortized cost, net		0	0
Liabilities:
Reserve for repurchase liability			0
Secured debt		0	0
Senior debt, net		0	0
Subordinated debt - related party			0
Other debt			0
Level 2
Assets
Cash and cash equivalents		0	0
Restricted cash		0	0
Finance receivables at amortized cost, net		0	0
Liabilities:
Reserve for repurchase liability			0
Secured debt		0	0
Senior debt, net		0	0
Subordinated debt - related party			0
Other debt			0
Level 3
Assets
Cash and cash equivalents		0	0
Restricted cash		0	0
Finance receivables at amortized cost, net		1,269	287,437
Liabilities:
Reserve for repurchase liability			4,241
Secured debt		19,791	16,025
Senior debt, net		$ 205,968	131,726
Subordinated debt - related party			4,000
Other debt			$ 6,354
[1]	(1) Includes amounts in consolidated variable interest entities ("VIEs") presented separately in the table below.

Commitments, Contingencies an_3

Commitments, Contingencies and Related Party Transactions - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 29, 2021	Mar. 29, 2021	Dec. 31, 2020	Nov. 26, 2019	Nov. 25, 2019
Loss Contingencies [Line Items]
Letters of credit outstanding, amount		$ 0		$ 0				$ 0
Rent expense		998,000	$ 835,000	2,748,000	$ 2,239,000
Interest expense - related party		0	141,000	137,000	420,000
Management fees		0	280,000	350,000	280,000
Subordinated debt - related party
Loss Contingencies [Line Items]
Debt agreement, maximum available amount		$ 0		0			$ 4,000,000
Interest expense - related party			$ 141,000	$ 137,000	$ 420,000
Affiliated Entity | Management Fee Agreement Termination
Loss Contingencies [Line Items]
Related party transaction costs	$ 3,000,000
Letter of Credit
Loss Contingencies [Line Items]
Debt agreement, maximum available amount						$ 1,750,000			$ 1,000,000	$ 1,500,000

Commitments, Contingencies an_4

Commitments, Contingencies and Related Party Transactions - Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Commitments Contingencies And Related Party Transactions [Abstract]
Remainder of 2021	$ 562
2022	2,271
2023	2,339
2024	2,410
2025	2,482
Thereafter	12,840
Total	$ 22,904

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Detail) - Financing Receivable - Geographic Concentration Risk	Sep. 30, 2021	Dec. 31, 2020
Florida
Concentration Risk [Line Items]
Concentration risk, Percentage	13.00%	14.00%
Texas
Concentration Risk [Line Items]
Concentration risk, Percentage	13.00%
California
Concentration Risk [Line Items]
Concentration risk, Percentage	10.00%
Illinois
Concentration Risk [Line Items]
Concentration risk, Percentage		13.00%

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Employer matching contribution, percent of match			4.00%
Salaries and employee benefits	$ 419	$ 282	$ 1,145	$ 820

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income	$ 30,392	$ 19,342	$ 72,763	$ 61,358
Less: net income attributable to noncontrolling interest	16,267		58,638
Net income available to Class A common stockholders - Basic	14,125		14,125
Dilutive effect of warrants on net income to Class A common stockholders	0		0
Net income available to Class A common stockholders - Diluted	$ 14,125		$ 14,125
Denominator:
Weighted average Class A common stock outstanding - Basic (in shares)	13,363,995	0	13,107,873	0
Effect of dilutive securities:
Stock options (in shares)	0		0
Warrants (in shares)	0		0
Dilutive common unit equivalents (in shares)	0		0
Weighted average units outstanding - diluted (in shares)	13,363,995	0	13,107,873	0
Basic EPS (in dollars per share)	$ 1.06	$ 0	$ 1.08	$ 0
Diluted earnings per unit (in dollars per share)	$ 1.06	$ 0	$ 1.08	$ 0

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Securities Excluded from Calculation of Diluted Earnings Per Share (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	20,939,437	20,939,437
Warrants | Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	11,887,500	11,887,500
Warrants | Private Unit Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	231,250	231,250
Warrants | $11.50 Exercise Price Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	2,248,750	2,248,750
Warrants | $15 Exercise Price Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	912,500	912,500
Warrants | Underwriter Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	59,437	59,437
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock (in shares)	5,600,000	5,600,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Restricted Stock Units (RSUs) - Subsequent Event	Oct. 01, 2021shares
Subsequent Event [Line Items]
Granted (in shares)	2,141,923
Employees and Officers
Subsequent Event [Line Items]
Award vesting period	4 years
Director | Maximum
Subsequent Event [Line Items]
Award vesting period	1 year
Share-based Payment Arrangement, Tranche One
Subsequent Event [Line Items]
Award vesting period	1 year
Share-based Payment Arrangement, Tranche One | Employees and Officers
Subsequent Event [Line Items]
Award vesting percentage	25.00%
Share-based Payment Arrangement, Tranche Two | Employees and Officers
Subsequent Event [Line Items]
Award vesting period	36 months
Award vesting percentage	75.00%