About Lender
OppLoans is a brand of Opportunity Financial LLC and provides unsecured personal loans for middle income consumers with bad or no credit. Loans from $500 to $4,000 with APR from 160% to 195%. OppLoans is a flexible solution for unexpected expenses like car repairs, home improvements or medical bills. They make the loan process easy and accessible with 256-bit encryption technology to keep your application safe and transparent.
What makes OppLoans different is their focus on customer support and financial wellness. With top rated loan advocates they are there to help you every step of the way. Applying for a loan does not affect your FICO® credit score as OppLoans uses credit information from Clarity Services and Experian without it being a hard inquiry. Approved loans can fund as soon as the same business day, subject to credit approval and verification. OppLoans also reports payment history to the 3 major credit bureaus so you can potentially improve your credit score with on time payments.
Key features
-
Quick and Easy Online Application. The application process is designed to be quick and easy, only requires basic personal and employment info to get started.
-
No Impact on FICO® Credit Score for Applying. Applying for a loan with OppLoans does not affect your FICO® credit score as it’s a soft credit inquiry that doesn’t show up on your credit report.
-
Same-Day Funding. Approved loans can fund as soon as the same business day, for urgent needs.
-
Loan Support Every Step. OppLoans has dedicated support throughout the loan application process, top rated loan advocates to help you.
-
Build Credit History. OppLoans reports payment history to the 3 major credit bureaus so you can improve your credit score with on time payments.
Pros and Cons
Pros
Online. You can apply for a personal loan on the site. Read OppLoans personal loan review before choosing the best personal loan for you.
No Credit Check. Unlike other lenders OppLoans doesn’t require a credit check.
Wide Availability. No minimum credit score to qualify for a loan.
Lower APR. OppLoans APR is lower than payday loans.
Longer Repayment Terms. OppLoans’ repayment terms are longer than payday loans.
Quick Cash. You can get money the next day after approval.
Cons
Not Available in All States. So not all U.S. citizens can get a loan from OppLoans.
Small Loan Amounts. You can borrow up to $4,000.
Highest APRs. Although lower than PayDay Loans, the interest rate is still high.
Short Loan Terms. Unlike other lenders who offer longer loan terms, OppLoans only offers 9-18 months.
Reliability
Licensed and Regulated. OppLoans is a licensed and regulated lender in the US, follows industry standards and regulations which adds to the reliability.
Established Since 2012. With a history of 2012, OppLoans has been in the lending business for a long time, shows longevity and stability which means reliability and trust.
A+ Rating with the BBB. The company’s A+ rating with the BBB (Better Business Bureau) means they are committed to customer satisfaction and ethical business practices which adds to the reliability.
Positive Reviews. Many customers have given positive reviews which means they are satisfied with OppLoans service which adds to the reliability through real life experience.
How to Apply for a OppLoans Loans?
-
Visit website. Start by navigating to the OppLoans official website. You'll find "Apply Now" button prominently displayed on the homepage, which will direct you to the loan application page.
-
Tell About Yourself. Fill out the online loan application by providing necessary personal information such as your name, address, email, and employment details. This step is designed to be fast and easy.
-
Verify Your Income. As part of the application, you will need to securely connect your bank account or provide other documentation as required to verify your source of income.
-
Get a Quick Decision. After submitting your application, OppLoans will review the information provided to see if you qualify for a loan. This process involves a soft credit check that does not affect your FICO® credit score.
-
Review Loan Offer. If you are approved, review the loan offer carefully. This includes the loan amount, APR, repayment terms, and any fees associated with the loan.
-
Accept Loan Agreement. If you decide to proceed, accept the loan agreement. Make sure you understand all the terms and conditions before accepting.
-
Receive Funds. Once you accept the loan terms, you may receive the funds in your account as soon as the same business day, depending on the time of final approval and your bank's processing times.
Conditions and Requirements
Conditions
Loan Amount. You can borrow from $500 to $4,000.
Repayment Term. OppLoans loan term is 9-18 months.
APR. OppLoans APR is 160%-195%.
Requirements
Age. 18 years old and above.
Residency. Live in one of the states OppLoans service.
Income Source. Have a regular income.
Bank Account. Have a checking or savings account.
Direct Deposit. Receive paychecks through direct deposit.
Ways to Receive the Money
Once approved, funds from OppLoans will be deposited into your bank account. If verification is completed and final approval is made before 12:00 pm CT on a business day, funds will be deposited into your bank account via ACH the same day. If approved after 12:00 pm CT on a business day or on a non-business day, funds will be deposited the next business day. Please note that the availability of funds is dependent on how fast your bank processes the transaction so the funds will be deposited as soon as possible to meet your financial needs.
Products
Online Personal Loans. These loans are designed to cover unexpected expenses such as car repairs, medical bills, home improvements and other personal financial needs. You can borrow from $500 to $4,000 and OppLoans will adjust the loan to your needs and repayment ability. OppLoans APR is capped at 195% which is lower than traditional payday loans. OppLoans is transparent with no hidden fees. Loans have clear and manageable repayment terms that fit your financial situation and budget. The exact terms will depend on the loan amount, state regulations and your creditworthiness. By reporting payment history to the 3 major credit bureaus, OppLoans gives you the opportunity to build or improve your credit score if you make on time payments.
Financial Education (OppU). Not a financial product but a complementary educational resource from OppLoans. OppU aims to empower customers with knowledge and tools to make informed financial decisions. OppU has articles, guides and tools on budgeting, debt management and financial planning. OppU is available to OppLoans customers and the general public.
Other Personal Loans
Reasons for Loan Refusal
Reasons for loan denial can be due to several factors related to the applicant’s financial stability and ability to repay the loan. These can be insufficient income to meet the minimum required for loan approval, unstable employment history that raises concern on consistent income, bank account that does not meet OppLoans’ criteria or credit information that does not meet OppLoans’ underwriting criteria. If the applicant does not reside in a state where OppLoans operates or if they do not meet the age requirement, their application will also be denied. OppLoans is committed to responsible lending which means they evaluate each applicant’s financial situation to make sure the loan is given in a way that the borrower can afford to repay and avoid financial distress.
How to Repay a OppLoans Loan?
Paying an OppLoans installment loan is easy and convenient with multiple payment options to fit your needs. The most popular method among their customers is Automated Clearing House (ACH) which can be set up as a recurring payment or a one-time payment. ACH payments will electronically debit the agreed amount from your bank account on the pre-authorized dates so you don’t miss a payment. Please note that any changes to scheduled payments regardless of the method must be requested at least 2 business days before the due date to allow for processing time. OppLoans also accepts payments via paper checks which must be made payable to OppLoans and mailed to their address. Checks will take 7-10 business days to process after receipt. You can also pay via debit card as one-time payment or recurring payment by contacting OppLoans directly or through the OppLoans Customer Portal.
Loans like OppLoans
Rise Credit
RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.
OneMain Financial
OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.
Universal Credit
Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.
Editorial Opinion
Important
How to Choose a Lender
-
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.
-
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.
-
Carefully review all the terms and conditions of your payday loan contract.
-
Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
-
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.
-
Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
Additional Resources
- Full OppLoans Account Review
- How to Apply for an OppLoans Loan
- How to Repay an OppLoans Loan
- OppLoans Customer Reviews
- Opploans Loans of May 2025
