OneMain is a consumer finance company focused on nonprime borrowers — people with limited access to credit from banks and traditional lenders. The core product is a fixed-rate, fixed-term personal loan used for debt consolidation, emergency expenses, or discretionary needs. OneMain originates and services these loans through a network of over 1,300 branches staffed by loan specialists, supplemented by digital and phone channels. The branch-heavy model is intentional: nonprime borrowers often require high-touch service and hands-on credit counseling. OneMain serves approximately 3.8 million customers and holds $26.3B of managed receivables. Beyond personal loans, OneMain is expanding into auto finance (~$2.8B of receivables), which it entered in earnest through its 2024 acquisition of Foursight, and credit cards (~$936M of receivables) under the BrightWay brand, a revolving product offered through a third-party bank partner. OneMain makes money by charging interest rates well above prime lenders — consumer loan yields run around 22.5%, and credit card yields exceed 32% — which are necessary to absorb elevated charge-off rates and still generate attractive returns. Profitability is driven by the net interest spread, credit loss management, receivables growth, and operating leverage. OneMain funds itself through unsecured bonds, asset-backed securities, revolving bank lines, and whole loan sales. OneMain has also applied for an industrial loan company charter, which would enable deposit funding and direct card issuance, though management notes the current strategy does not depend on it.