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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply for a Oportun's loan


How to apply


Oportun allows borrowers to apply for a loan in person, but you can also do it online. In both cases, you will need to provide the lender with a set of documents that will be checked before granting a loan. So what do you need to apply for a loan? Here is a list of required documents:

  • A government-issued photo ID. As a US citizen, you can share your driver’s license or passport. If you are a foreign citizen, you can also apply using a consular ID card or a non-US ID card. Oportun accepts ID cards from most countries.

  • Proof of income. It can be your bank statement showing regular pay-in transactions or pay stubs from your current job.

  • Address verification. It can be your latest utility bill or a paper letter with your name or address (not a PO box).

  • Personal reference. You can indicate up to four references: family members, employers, and friends.

Application details

Oportun proceeds with most requests within a working day, and many borrowers receive their funds within two hours after they apply. While you can send an online application anytime, it will be considered during business hours, 8 a.m. — 8 p.m. PT on weekdays, and 9 a.m. — 7 p.m. on weekends. It takes about ten minutes to proceed with a soft credit pull and approximately ten more minutes to make a hard credit check for the final decision. If your loan is approved, the funds can appear in your bank account within a couple of hours or later the same day.

Although your credit history is not the main factor for Oportun, you can still face rejection. The most typical reasons are not related to your bad credit history. Your income and regular expenses play a more significant role here, so you have a chance of being denied if you can’t prove you can pay regular installments.

How to apply for a loan

Applying for a loan online at the Oportun website takes a couple of minutes. You can see a detailed application guide in the Personal Account section of this review.


How long does it take to get approved by Oportun?

Oportun can grant a loan on the application day. It takes a couple of minutes to prequalify, approximately ten minutes to apply online with all necessary documents, and usually no more than a day to get funds.

How trustworthy is Oportun?

Oportun has a pretty high rating on various independent review platforms and got many positive customer reviews. It was not involved in high-profile scandals and working legally under local state licenses.

Does Oportun verify income?

Yes, Oportun requires proof of income as one of the obligatory application documents.

Does Oportun hurt your credit score?

Oportun allows you to prequalify before making a final application. Prequalification doesn’t affect your credit score as it’s made via a soft credit check. However, the final decision implies a hard credit pull that decreases a credit score up to 5 points.

Financial products

Credit card
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
lines up to $1,000

Effective interest rate on the product


Loan term for the financial product

up to 60 months

Calculate loan payments in Oportun

Oportun calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

300 $
10000 $
Loan term

Specify the loan term for the calculation


What to focus on before applying for a loan with Oportun

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Oportun and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Oportun’s reviews by September 2022
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