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California based retail consumer unsecured lender has filed to raise $100m in its IPO that values the company at ~$500m.
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The market opportunity for consumer loans in the U.S. is large and growing substantially. During a recession, demand for the firm's consumer credit products would likely increase, although charge-offs would also increase. With a consolidation in community banks and a general pullback of that industry from various local markets, OPRT appears to have a significant opportunity to fill the void.
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