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Best Loans Like Oportun in 2023

Oportun has been a beacon for individuals with low income or bad credit, providing a pathway to build credit through its personal and secured loans. However, the financial landscape is vast and there are several other commendable lenders offering attractive loan alternatives. Among these, Upstart and OneMain Financial stand out for their consumer-friendly terms. Whether you seek debt consolidation, emergency loans, or a chance to compare rates across lenders, the market offers a plethora of options. Dive into a curated list of loans like Oportun, unraveling the features that cater to different financial circumstances while ensuring affordability.

17 min.

Are you struggling to find a personal loan due to a poor credit score or lack of banking history? Loans like Oportun might seem like the answer, but there are other options that could suit your financial needs better. In this blog post, we’ll explore Oportun loans and their top alternatives, including other loan providers and cash advance apps, to help you make an informed decision and secure the funds you need.

Best Loans Like Oportun in 2023

We’ll start by understanding loans like Oportun and their target audience, then delve into the top alternatives such as OneMain Financial, Avant, LendingPoint, NetCredit, and CreditNinja. We’ll also discuss the benefits of cash advance apps like Earnin, Possible Finance, and MoneyLion. Finally, we’ll share tips for comparing personal loan lenders and improving your chances of loan approval.

Key Takeaways

  • Explore alternatives to Oportun loans such as OneMain Financial, Avant, LendingPoint and more.

  • Assess interest rates & fees, repayment terms & lender reputation when comparing lenders.

  • Improve chances of approval by reviewing credit report, reducing debt-to-income ratio and considering a co-signer.

About Oportun Loans

Oportun loans are personal installment loans designed for individuals with no credit history or bank account, particularly those within the Latino community. They offer a lifeline for those who may struggle to obtain traditional loans due to poor credit scores. However, their frequent repayment schedules and high origination fees of up to 8% make them less appealing for some borrowers.

Oportun loans serve as an alternative to payday loans, which often have even higher fees and less favorable terms. They report payment history to select nationwide credit bureaus, helping borrowers improve their credit scores for future loans from credit unions and other traditional lenders. Before deciding on an Oportun loan, familiarize yourself with their target audience, loan amounts, terms, interest rates, and fees.

Target Audience

Oportun loans cater to individuals with no credit history or bank account, offering an alternative to traditional loans. They are designed to serve those who may find it challenging to access loans from credit unions or other financial institutions due to low credit scores or a lack of credit history. By providing loans to this underserved market, Oportun helps borrowers build their credit history, enabling them to access better loan terms and rates from traditional lenders in the future.

Their focus on the Latino community and individuals with no credit or bank account means that they often work with borrowers who have been turned away by other lenders, including credit unions. However, it’s important to remember that their interest rates and fees may be higher than those offered by a credit union and other traditional lenders. As such, comparing Oportun loans with other alternatives before making a final decision is advisable.

Loan Amounts and Terms

Oportun loans offer various loan amounts and terms, depending on the borrower’s needs and financial situation. For new customers, their personal loans can range from $600 to $6,000. Returning customers can access loans up to $8,000, starting at $2,100. They require frequent repayments, with loan repayments occurring every two weeks rather than monthly payments, which are more common in other types of loans.

When contemplating an Oportun loan, thoroughly evaluating the available loan terms is necessary. Here is an example of a loan offer from Oportun:

  • Loan amount: $7,000

  • Loan type: Secured personal loan

  • Location: California

  • Repayment period: 42 months

  • Payment frequency: Bi-weekly

  • Payment amount: $134

  • APR: 34.95%

  • Origination fee: $560

This information can help you determine whether an Oportun loan is the right fit for your financial situation.

Interest Rates and Fees

Given the potentially high interest rates and fees for Oportun loans, comparing them with other options before deciding is important. Here are some key details to consider:

  • The APR for a $7,000 secured personal loan in California through Oportun is 34.95%

  • The origination fee is $560

  • The maximum APR for Oportun loans is 35.99%

  • Origination fees can reach up to 8%

For the best possible deal, you should compare the interest rates and fees associated with Oportun loans and those of other lenders. This can help you determine if there are more favorable loan options available to suit your needs. In the next section, we’ll explore some of the top alternatives to Oportun loans and their unique features.

Top Alternatives to Oportun Loans

While Oportun loans may be a valid choice for those with no credit or bank account, exploring other alternatives before making a choice is recommended. Some top alternatives to Oportun loans include:

  • OneMain Financial

  • Avant

  • LendingPoint

  • NetCredit

  • CreditNinja

Each of these alternatives offers unique features and benefits that may better suit your financial needs.

In the following sections, we will discuss each of these alternatives in detail, exploring their advantages and disadvantages. This information can help you make an informed decision when choosing a personal loan provider.

OneMain Financial

Apply for a Loan

OneMain Financial is a trusted direct lender. They provide personal loans to people, even those with bad credit, secured or unsecured. They offer:

  • Loan amounts of up to $20,000

  • Repayment terms of up to 60 months

  • Competitive interest rates

  • No origination fees

This makes them an attractive alternative to unsecured loans and Oportun loans for borrowers with low credit scores.

OneMain Financial is particularly beneficial for those looking to pay off credit card debt or manage business expenses. Their focus on providing loans for low credit score borrowers means they may be more flexible in their lending criteria compared to traditional banks and credit unions.

OneMain Financial


Apply for a Loan

Avant is a financial technology company providing solutions to the borrowing needs of middle-income consumers. They specialize in:

  • Helping people access loans quickly and conveniently

  • Offering loan amounts of up to $35,000

  • Providing repayment terms of up to 60 months

  • Offering competitive interest rates

  • Charging no origination fees

Avant is another suitable alternative to Oportun loans. The benefits of using Avant for borrowing funds include:

  • Simple online application process

  • User-friendly experience

  • Quick and convenient access to funds

  • More accessible loans for middle-income consumers

  • Ability to qualify for loans when traditional bank loans are not an option



Apply for a Loan

LendingPoint is an online lender that offers personal loans. Here are some key features of LendingPoint loans:

  • Loan amounts of up to $25,000

  • Repayment terms of up to 24 months

  • Consideration of various data points beyond credit scores, such as income, employment history, and debt-to-income ratio

  • Competitive interest rates

  • No origination fees

LendingPoint can be a strong alternative to Oportun loans.

Their unique approach to evaluating borrowers means they may be more willing to work with those who have poor credit or non-traditional financial backgrounds. By considering a wider range of factors, LendingPoint can offer loans to individuals who may not qualify with other lenders.



Apply for a Loan

NetCredit is an online lender that offers:

  • Loan amounts of up to $10,000

  • Repayment terms of up to 60 months

  • Competitive interest rates

  • No associated origination fees

In addition, NetCredit provides resources on their website to help borrowers better control their finances and make informed decisions about their loans.

NetCredit, one of the reputable online lenders, offers a quick and secure online application process, combined with their flexible loan amounts and fixed interest rates, making them an attractive alternative to Oportun loans for borrowers seeking more control over their financial situation.



Apply for a Loan

CreditNinja provides:

  • Quick and convenient funding for people going through financial emergencies

  • Loan amounts up to $5,000 with repayment terms of up to 24 months

  • Competitive interest rates and no origination fees

They are a suitable alternative to Oportun loans for those in need of fast funding.

By focusing on assisting borrowers during financial emergencies, CreditNinja can offer a lifeline to those who may not have access to traditional lending options. Their commitment to serving a wide range of borrowers makes them an attractive choice for those looking for quick and reliable funding.


Other Loans

Cash Advance Apps as an Alternative

Aside from traditional personal loan lenders, cash advance apps like Earnin, Possible Finance, and MoneyLion can also serve as suitable alternatives to Oportun loans. These apps provide quick access to funds without the high interest rates often associated with payday loans and other short-term lending options, making them a more favorable choice compared to payday lenders, especially for those seeking a payday loan.

In the following sections, we’ll explore each of these cash advance apps in more detail and discuss their features and benefits.


Apply for a Loan

Earnin is an app that helps with a cash advance. It offers up to $750 and does not charge any interest or fees. Your upcoming paycheck acts as the collateral. This app offers a convenient and affordable solution for those who need access to funds before their next payday without incurring high interest rates or fees.

To utilize Earnin, you need a steady paycheck, direct deposit into a checking account, and a fixed work location. The amount borrowed is automatically withdrawn from your checking account on your next payday, making it a simple and hassle-free way to access funds when you need them most.


Possible Finance

Apply for a Loan

Possible Finance is a cash advance app that offers quick loans of up to $500, disbursing funds within minutes, although availability varies by state. This app provides a convenient and fast solution for individuals in need of emergency funds, particularly when other lending options are not available or feasible.

Although Possible Finance is not available in all states, their quick loan disbursement and simple application process make them a valuable option for those in urgent need of financial assistance. By offering loans to a wide range of borrowers, Possible Finance can provide a lifeline for individuals who may not qualify for traditional loans or other lending options.

Possible Finance


Apply for a Loan

MoneyLion is a financial technology company that offers credit-builder loans up to $1000, reports to credit bureaus, and provides upfront loan proceeds with a monthly fee. They offer a unique solution for individuals looking to improve their credit scores while gaining access to funds when needed.

By providing credit-builder loans and reporting to credit bureaus, MoneyLion helps borrowers build a positive payment history, making it easier to access better loan terms and rates in the future. Their innovative approach to lending makes them a valuable alternative to Oportun loans for individuals looking to improve their financial situation and credit scores.


Tips for Comparing Personal Loan Lenders

There are several key factors to consider when comparing personal loan lenders. Assessing interest rates and fees, evaluating repayment terms, and considering lender reputation and customer support can help you make an informed decision about the best loan provider for your unique financial situation.

In the following sections, we’ll delve deeper into each of these factors to provide you with a comprehensive understanding of how to compare personal loan lenders.

Assessing Interest Rates and Fees

Finding the best loan deal for your financial situation necessitates comparing interest rates and fees among lenders. By researching various lenders and evaluating their interest rates and fees, you can ensure that you are receiving the most advantageous offer available.

An assessment of interest rates and fees should consider:

  • Nominal rates

  • Effective rates

  • Closing costs

  • Down payments associated with the loan

Keep in mind that your credit score and payment history can also impact the interest rates offered by lenders, as well as current economic conditions.

Evaluating Repayment Terms

A critical aspect of selecting a personal loan provider is evaluating repayment terms to ensure they align with your budget and financial goals. When assessing repayment terms, consider factors such as:

  • Loan amount

  • Repayment period

  • Interest rate

  • Fees

This will guarantee that you can comfortably afford the loan.

It’s also important to review the loan agreement for any prepayment penalties or other fees that may be incurred if you decide to pay off the loan early. By evaluating the repayment terms of various lenders, you can find a loan that best suits your financial needs and helps you achieve your financial goals.

Considering Lender Reputation and Customer Support

Considering a lender’s reputation and customer support can contribute to a reliable and trustworthy lending experience when selecting a personal loan provider. Here are some steps to take:

  1. Research lenders thoroughly.

  2. Read reviews from other borrowers.

  3. Analyze customer feedback to get insight into their reputation and the quality of their customer support.

By following these steps, you can make an informed decision and choose a personal loan provider that meets your needs.

Additionally, consider the transparency of the lender when evaluating personal loan offers, as this can help you be aware of any hidden terms and conditions. By considering lender reputation and customer support, you can make an informed decision and choose a loan provider that best meets your financial needs and offers a positive lending experience.

How to Improve Your Chances of Approval

Improving your chances of loan approval involves taking proactive steps to enhance your financial standing and creditworthiness. In the following sections, we’ll provide tips on how to improve your chances of loan approval by reviewing your credit report, reducing your debt-to-income ratio, and considering a co-signer.

Reviewing Your Credit Report

A necessary step before applying for a loan is reviewing your credit report to identify potential errors or areas needing improvement. You can obtain a free copy of your credit report from each of the three major credit bureaus at

Review your credit report carefully, looking for any inaccuracies in personal information, account information, payment history, and accounts not belonging to you. If you find any errors, report them to the credit bureaus to have them corrected. Additionally, focus on paying down debt, making on-time payments, and keeping your credit utilization low to boost your credit score.

Reducing Debt-to-Income Ratio

A significant improvement in your chances of loan approval can be achieved by reducing your debt-to-income ratio. The debt-to-income ratio is a measure of the amount of debt you have relative to your income, and lenders often consider this ratio when assessing your creditworthiness.

To lower your debt-to-income ratio, you can either pay off existing debts or increase your income. Strategies for paying off existing debts may include:

  • Creating a budget

  • Setting up automatic payments

  • Negotiating with creditors

  • Consolidating debt

To increase your income, consider obtaining a second job, establishing a side hustle, or requesting a raise.

Considering a Co-signer

Using a co-signer with a good credit score is a worthwhile consideration if you’re finding it challenging to qualify for a loan or receive favorable terms. A co-signer is an individual who is willing to accept responsibility for a loan in the event that the primary borrower is unable to fulfill their payment obligations.

Having a co-signer can facilitate your qualification for a loan and may result in more favorable terms, such as a reduced interest rate or extended repayment period. However, it’s important to ensure that your co-signer understands the potential risks associated with the loan and is willing to accept the responsibility.

Editorial Opinion

Oportun loans can be a helpful solution for those with no credit or bank account, but it’s important to explore other options before committing. Alternatives such as OneMain Financial, Avant, LendingPoint, NetCredit, CreditNinja, and cash advance apps like Earnin, Possible Finance, and MoneyLion may better suit your financial needs and offer more favorable terms. By comparing personal loan lenders, assessing interest rates and fees, evaluating repayment terms, and considering lender reputation and customer support, you can make an informed decision and find the best loan provider for your unique financial situation. Additionally, reviewing your credit report, reducing your debt-to-income ratio, and considering a co-signer can help improve your chances of loan approval and secure the funds you need.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.


At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources



What is similar to Oportun?

Oportun Financial is a company providing financial services, and its competitors and similar companies include Muse, Mono, Spectosphere, Ark Kapital, Elevate, Prosper, Praedicat, Virtu Financial, Chime SpotMe, Albert, OneMain Financial, OppLoans, Fiona and Prosper.

What is the easiest loan to get approved for?

The easiest loans to get approved for are payday loans, car title loans, pawnshop loans, and personal loans with no credit check. These types of loans offer quick funding and have minimal requirements, but they tend to come with high interest rates and fees. Secured loans may also be relatively easy to get approved for, but may come with the same downside.

Can I get a second loan with Oportun?

Unfortunately, Oportun only allows one loan per customer at a time, so you are unable to get a second loan with them. Your best option would be to fully repay your original loan and then reapply or seek out another lender for a loan.

What is the target audience for Oportun loans?

Oportun loans target individuals within the Latino community, particularly those with no credit history or bank account.

Can a co-signer improve my chances of loan approval?

Yes, a co-signer with a good credit score can significantly improve your chances of loan approval and better loan terms.

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