The Company’s long-term debt instruments and balances outstanding as of June 30, 2025 and 2024 and December 31, 2024, including maturity date, weighted average interest rate and borrowing capacity as of June 30, 2025, were as follows (dollars in thousands):


				Weighted				Outstanding
	Revolving			average	Borrowing			June 30,						December 31,
	period end date	Maturity date		interest rate(1)	capacity			2025			2024			2024
Funding Debt:
ODAS IV 2025-1 Securitization Notes	March 2028	April 2032		5.89%	$	261,392		$	261,392		$	—		$	—
ODAS IV 2024-2 Securitization Notes	September 2027	October 2031		5.78%		261,353			261,353			—			261,353
2025-A Securitization Notes	—	October 2031		7.29%		163,866			163,866			—			—
ODAS IV 2024-1 Securitization Notes	May 2027	June 2031		6.84%		399,574			399,574			399,574			399,574
2024-A Securitization Notes	—	October 2030		7.92%		79,631			79,631			217,181			123,546
ODAS IV 2023-1 Securitization Notes	July 2026	August 2030		7.66%		227,051			227,051			227,051			227,051
NCR 2022 Securitization Facility	October 2026	October 2028		8.57%		200,000			79,463			84,927			119,039
NCLOCR 2024 Securitization Facility	February 2027	February 2028		9.82%		150,000			135,000			75,000			99,000
2023-A Securitization Notes	—	December 2027		7.78%		19,502			19,502			50,989			32,116
RAOD Securitization Facility	November 2026	November 2027		7.07%		236,842			190,846			230,263			192,000
HWCR 2023 Securitization Facility	September 2026	September 2027		8.68%		487,595			403,214			287,214			331,214
ODR 2022-1 Securitization Facility	June 2026	June 2027		7.99%		420,000			266,516			258,668			188,342
ODR 2021-1 Securitization Facility	November 2025	November 2026		7.98%		233,333			124,338			194,330			233,333
2018-1 Securitization Facility	March 2025	March 2026	(2)	—		—			—			—			32,200
Total funding debt				7.46%	$	3,140,139		$	2,611,746		$	2,025,197		$	2,238,768
Corporate Debt:
9.125% senior notes due 2029	—	August 2029		9.13%	$	500,000		$	500,000		$	—		$	500,000
11.25% senior notes due 2028	—	December 2028		11.25%		400,000			400,000			400,000			400,000
8.50% senior notes due 2025	—	September 2025		8.50%		—			—			375,000			—
Revolving line of credit	June 2026	June 2026		7.85%		665,000	(3)		481,000			419,000			453,000
Total corporate debt				9.30%	$	1,565,000		$	1,381,000		$	1,194,000		$	1,353,000
Less: Long-term debt issuance costs								$	(26,302	)	$	(21,019	)	$	(24,830	)
Less: Debt discounts									(2,930	)		(4,057	)		(3,456	)
Total long-term debt								$	3,963,514		$	3,194,121		$	3,563,482

(1) The weighted average interest rate is determined based on the rates and principal balances on June 30, 2025. It does not include the impact of the amortization of deferred loan origination costs or debt discounts.

(2) On May 30, 2025, the remaining outstanding balance on this facility was paid in full and the facility was terminated.

(3) The Company had outstanding letters of credit under the Revolving line of credit of $0.4 million, $0.7 million and $0.7 million as of June 30, 2025 and 2024 and December 31, 2024, respectively.

Weighted average interest rates on long-term debt were 8.84% and 9.26% during the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025 and 2024 and December 31, 2024, the Company was in compliance with all financial ratios and covenants set forth in the prevailing long-term debt agreements.

On May 30, 2025, NetCredit Combined Receivables A, LLC (“NCCRA”), a wholly-owned indirect subsidiary of the Company, issued $163.9 million of Fixed Rate Asset-Backed Notes (the “2025‑A Securitization Notes”) in a private securitization transaction. The 2025‑A Securitization Notes have a legal final payment date in October 2031 and were issued in one class with a fixed interest rate of 7.29% per annum. The 2025‑A Securitization Notes are backed by a pool of unsecured consumer installment loans. The 2025‑A Securitization Notes represent obligations of NCCRA only and are not guaranteed by the Company. The net proceeds of the offering of the 2025‑A Securitization Notes were used to acquire unsecured consumer installment loans from certain subsidiaries of the Company, fund a reserve account and pay fees and expenses incurred in connection with the transaction.

On March 20, 2025, OnDeck Asset Securitization IV, LLC (“ODAS IV”), a wholly-owned indirect subsidiary of the Company, issued $261.4 million in initial principal amount of Series 2025-1 Fixed Rate Asset-Backed Notes (the “ODAS IV 2025-1 Securitization Notes”) in a private securitization transaction. The ODAS IV 2025-1 Securitization Notes have a legal final payment date in April 2032 and were issued in four classes with initial principal amounts and fixed interest rates per annum as follows: Class A Notes of $126.8 million at 5.08%, Class B Notes of $57.8 million at 5.52%, Class C Notes of $45.5 million at 6.64% and Class D Notes of $31.2 million at 8.77%. Collateral for the ODAS IV 2025-1 Securitization Notes consists of, among other things, a revolving pool of small business loans originated or purchased by ODK Capital, LLC (“ODK”), which is a wholly-owned indirect subsidiary of the Company. ODK is the servicer of the loans securing the ODAS IV 2025-1 Securitization Notes. ODAS IV is the sole obligor of the ODAS IV 2025-1 Securitization Notes, which are not obligations of, or guaranteed by, the Company or ODK. The net proceeds of the ODAS IV 2025-1 Securitization Notes were used to purchase small business loans from ODK that were pledged as collateral for the ODAS IV 2025-1 Securitization Notes and for other general corporate purposes.