Offering Includes Participation from 35 Unique Investors

SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, announced today the issuance of $697.6 million in notes secured by a pool of personal loans originated by SoFi Bank, N.A. The transaction was a co-contributor securitization with collateral consisting primarily of loans previously placed with loan platform business partners. SoFi’s loan platform business, which originates loans on behalf of third parties, generated $2.1 billion in personal loan volume in 2024.

This represents the first securitization of new collateral in SoFi’s Consumer Loan Program (SCLP) since 2021 and the first using collateral originated in the loan platform business. It provides co-contributors with meaningful liquidity to support their ongoing investment in the loan platform business given the strong market demand for SoFi’s personal loans. SoFi issued notes to 35 investors in the deal, representing a range of new and existing partners. 

“As SoFi’s personal loan products resonate with more and more people, we see continued strong demand for our loans in the capital markets,” said Chris Lapointe, Chief Financial Officer of SoFi. “This offering demonstrates the clear value of our loan platform business and our diversified funding strategy.”

The transaction (“SCLP 2025-1”) closed on February 28, 2025 and consisted of four classes of notes rated by Fitch Ratings and Morningstar DBRS from “AAA” to “BBB+”. Fitch Ratings assigned ratings to all four classes of notes, and Morningstar DBRS provided ratings on the Class A, B, and C notes. Goldman Sachs was the structuring agent and joint lead bookrunner with Bank of America. The transaction priced at industry-leading costs of funds levels, with a weighted average spread of 87 basis points and an all-in yield of 5.10%. The notes were offered pursuant to Rule 144A under the Securities Act of 1933, as amended.

Since the launch of SCLP in 2015, SoFi has issued more than $12 billion in notes to investors across 25 transactions.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About SoFi

SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its over 10.1 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like credentialed financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit https://www.sofi.com or download our iOS and Android apps.

Disclosures

Availability of Other Information About SoFi

Investors and others should note that we communicate with our investors and the public using our website (https://www.sofi.com), the investor relations website (https://investors.sofi.com), and on social media (X and LinkedIn), including but not limited to investor presentations and investor fact sheets, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that SoFi posts on these channels and websites could be deemed to be material information. As a result, SoFi encourages investors, the media, and others interested in SoFi to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on SoFi’s investor relations website and may include additional social media channels. The contents of SoFi’s website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

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As Women’s History Month kicks off, let’s remember equal pay trailblazer Lilly Ledbetter, who passed away in October at the age of 86. Her fight to close the gender wage gap led to landmark legislation making it easier to challenge pay discrimination.

After working at a Goodyear tire plant for 19 years, Ledbetter discovered that her male counterparts earned a higher wage for working in the same supervisory role.

In 1999, she filed a lawsuit against the company and won. But the ruling and her financial award were later reversed because she filed her suit too late, of all things. She pursued the case to the Supreme Court only to be ruled against  again, 5-4.

Ledbetter continued her push, and with the support of Supreme Court Justice Ruth Bader Ginsburg, who dissented in the case, Congress extended the time limits for filing suit by passing the Lilly Ledbetter Fair Pay Act in 2009.

Sixteen years later, despite the Fair Pay Act, the Civil Rights Act of 1964 and the Equal Pay Act of 1963, we still have a significant wage gap. On average, full-time female employees in this country still earn only about 84% of what men are paid, according to the most recent data (2024) from the Bureau of Labor and Statistics.

Experts say the gap has a lot to do with the occupations and industries where women and men are most likely to work. But even after adjusting for that, research shows that women still make less on average than men. (Shoutout to the DOL for publishing lots of interesting data and infographics on this topic).

So what? The Fair Pay Act was another step forward for women. Just like the Equal Credit Opportunity Act. (Signed 50 years ago this month, that law afforded women the legal right to independently access credit cards and other financial products). But we have more steps to take.

Related Reading

•   Gender Pay Gap in U.S. Hasn’t Changed Much in Two Decades (Pew Research)

•   Why the Gender Pay Gap Persists in American Businesses (Darden School of Business)

•   Grace and Grit, My Fight for Equal Pay and Fairness at Goodyear and Beyond (Lanier Scott Isom)

Image credit: Bernie Pesko/SoFi Source: iStock

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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Trading Blows

The spotlight falls squarely on tariffs this week, as trade policy developments have increasingly dominated market narratives over the past month.

Initially, the Trump administration had announced that tariffs on imports from Mexico (25%), Canada (10% for energy, 25% for non-energy), and China (10%) would go into effect at the start of February. The duties on Chinese imports went into effect but, after negotiations, the tariffs on the United States’ neighbors were delayed for a month.

Last week, President Trump stated that not only will the delayed tariffs on Mexico and Canada kick in on March 4, but that Chinese goods will also be subject to an additional 10% duty. Over 40% of U.S. imports come from those three countries, so a wide range of goods could become more expensive in a jiffy (assuming that implementation of the tariffs isn’t delayed at the eleventh hour).

On top of potentially stoking further inflation, the tariff storyline has put growth fears at the forefront for investors. Of course, international trade is complicated – the U.S. dollar could appreciate, offsetting some of the impact – but, all else equal, the March tariffs could pull GDP growth downward by more than a full percentage point.

That’s all quite abstract. Here’s a plausible scenario for how things could actually play out:

1.    Tariffs push prices higher, so consumers and businesses reduce spending;

2.    Lower revenue and/or higher costs result in lower profits;

3.    Some firms absorb lower profit margins, while others are forced to cut costs (which could lead to layoffs, less investment, etc.);

4.    Consumer and business confidence decline;

5.    Growth declines further.

Declining growth and negative sentiment can create a negative feedback loop, but that often plays out over quarters, not days or weeks. That makes it hard for investors to fully integrate the impacts of policy decisions – especially when developments occur as fast as they are right now. Markets reacted swiftly to last month’s tariff announcement, but they’ve been less jumpy this time; perhaps investors view the administration as the “boy who cried wolf.” That suggests that this week might be a volatile one if the tariffs actually go into effect. Time will tell. It’s possible that by the time you’re reading this, another delay will have already been announced.

Economic and Earnings Calendar

Monday

•   January Construction Spending: Construction data is a leading indicator of business activity.

•   February ISM Manufacturing PMI: This index from the Institute for Supply Management tracks how purchasing managers across the manufacturing sector feel about the business environment.

•   February Wards Total Vehicle Sales: Cars are a big ticket item for consumers, so underlying vehicle sales trends can help shine a light on demand for durable goods.

•   Fedspeak: St. Louis Fed President Alberto Musalem will give a keynote speech on the economy and monetary policy.

Tuesday

•   Fedspeak: New York Fed President will be interviewed at the Bloomberg Invest Forum. Richmond Fed President Tom Barkin will repeat a speech from last week called Inflation Then and Now.

•   Earnings: AutoZone (AZO), Best Buy Co (BBY), CrowdStrike (CRWD), Ross Stores (ROST), Target (TGT)

Wednesday

•   February ADP Employment Report: This survey, usually released a day or two before the official government jobs report, offers insight into private sector employment trends.

•   February S&P Global US PMIs: These indexes track how purchasing managers across different industries feel about the business environment.

•   January Factory and Durable Goods Orders: These metrics give insight into underlying trends for leading cyclical indicators.

•   February ISM Services PMI: This index from the Institute for Supply Management tracks how purchasing managers across different services industries feel about the business environment.

•   Fed Beige Book: This report is released eight times per year and tracks the state of the economy based on qualitative information.

•   Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.

•   Earnings: Brown-Forman (BFB), Campbell Soup (CPB)

Thursday

•   February Challenger Job Cuts: The firm Challenger, Gray & Christmas tracks the number of layoff announcements each month by sector.

•   January Trade Balance: Trade, made up of exports and imports, is an important driver of economic activity.

•   4Q Productivity and Unit Labor Costs: These measures provide a breakdown of how productive workers were per hour of work and at what cost.

•   January Wholesale Inventories and Sales: Wholesalers often operate as an intermediary between manufacturers and retailers, serving as a key part of the goods supply chain.

•   Weekly Jobless Claims: This high frequency labor market data gives insight into filings for unemployment benefits. Jobless claims have continued to show a labor market that remains strong despite having cooled.

•   Fedspeak: Atlanta Fed President Raphael Bostic will discuss the economic outlook with The Birmingham Business Journal.

•   Earnings: Broadcom (AVGO), Cooper Companies (COO), Costco (COST), Hewlett Packard Enterprise (HPE), Kroger (KR)

Friday

•   February Employment Situation Summary: This monthly blockbuster release from the Labor Department gives a comprehensive look at employment, wages, and hours worked in the previous month.

•   January Consumer Credit: Borrowing activity gives insight into broader economic activity.

•   Fedspeak: New York Fed President John Williams will participate in a University of Chicago discussion titled Monetary Policy Transmission Post-Covid.

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Image: Bernie Pesko/SoFi Source iStock

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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