Todd Schwartz - Expanding Credit Access

Dec 16, 2023

Todd Schwartz, CEO of OppFi, discusses expanding credit access, the challenges faced by the company, and the impact of interest rate caps on credit access. He also talks about starting the lending business, evaluating customers, and navigating regulatory hurdles. The chapter concludes by highlighting the importance of bank partnerships in credit extension and the benefits of going public.

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Introduction

00:00 • 3min

Todd Schwartz, CEO of Op-Fi and Expanding Credit Access

03:19 • 3min

Starting a Cash Advance Shop and Meeting Customers Face to Face

06:46 • 2min

Starting the Business and Evaluating Customers

08:21 • 20min

The Impact of Interest Rate Caps on Credit Access

28:03 • 6min

Navigating Challenges and Expanding Credit Access

33:43 • 29min

Bank Partnerships and Credit Extension

01:02:32 • 13min

Todd Schwartz, Founder, CEO and Executive Chairman of OppFi, stops by The Business Brew to discuss how he expands credit access. OppFi was featured on this program when it was going public via SPAC. The company did not perform to expectations once it was public and Todd reengaged in order to right the ship.

This episode is about OppFi and Todd, but it is also about usury laws and policy. It is a company that has made Bill think a lot. We hope you find the conversation interesting.

Disclaimers: Bill owns an immaterial amount of warrants in the company. But, better to err on the side of disclosure.

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