A specialty consumer lender to Hispanic communities is securitizing its latest round of collateralized loans through a two-note, $125 million asset-backed structure.

Oportun Financial Corp., formerly Progreso Financiero Holdings, is offering $102.9 million in Class A notes and $22.07 million in Class B notes. The Oportun Funding III LLC Series 2016-B transaction has received preliminary structured finance ratings (‘A’ for the Class A, ‘BBB’ for the Class B) from Kroll Bond Rating Agency, which has rated two of the company’s prior five pools of loans.

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