Enova expands credit facility to $900M as lending volumes surge
What's the deal? Enova International, the Chicago-based online lender, increased its secured asset-backed revolving credit facility to $900 million, up from $825 million. Bank of MontrealDealroom has a profile for this one. Try Dealroom → serves as administrative and collateral agent on the amended agreement, signed October 30, 2026.
What's the endgame? Enova operates as an online financial services provider, and revolving facilities like this one fund its lending operations. The extra capacity gives it headroom to support continued growth rather than marking a one-off capital raise.
Why now? The increase follows a similar bump in August 2025 and lands amid rapid expansion. Third-quarter 2026 originations rose 31% year over year to $2.6 billion, receivables hit a record $5.9 billion, and the company reported $1.3 billion in total liquidity.
Enova also completed its largest OnDeck securitization to date during the quarter, signalling that the revolver is one piece of a broader funding toolkit.
The signal: At $900 million, the facility sits in the upper tier of debt commitments by size. Expanding bank credit alongside record securitizations shows lenders willing to back Enova's growth — and the company leaning on multiple channels to keep originations climbing.
Read more: kalkine.com
Image credit: Generated with Gemini
