Lender
Rating by Finanso®
i

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.

4.3
(20 Ratings)

Opploans Review

Advertiser Disclosure

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?

Apply for a Loan

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. Accept Loan Agreement. If you decide to proceed, accept the loan agreement. Make sure you understand all the terms and conditions before accepting.

  7. 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.

Check Credit Score

How to Repay a OppLoans Loan?

Repay

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

Apply for a Loan

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.

about Rise Credit

OneMain Financial

Apply for a Loan

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.

about OneMain Financial

Universal Credit

Apply for a Loan

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.

about Universal Credit

Editorial Opinion

OppLoans is a good option in the personal lending space especially for borrowers who are not qualified for traditional banking options due to their credit history. The company’s quick and easy application process and no impact on FICO® scores for applying makes it borrower friendly. OppLoans is also transparent and secure so customers are aware of their loan terms and confident with their personal information. Same day funding (subject to approval) addresses urgent financial needs. However, while the maximum APR is lower than payday loans, it’s higher than some other personal loan options so borrowers must consider their repayment capacity carefully.

Important

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.

Additional Resources

Sources

FAQ

How do you qualify for an OppLoans loan?

To qualify for an OppLoans loan, you must meet certain eligibility requirements. These include:

  1. Age: You must be at least 18 years old to apply for an OppLoans loan.

  2. Residence: You must be a legal resident of one of more than 30 states where OppLoans operates.

  3. Income: You must have a regular source of income, such as a job or government benefits.

  4. Bank account: You must have a checking or a savings account and receive income by direct deposit.

In addition to these basic eligibility requirements, OppLoans may also consider other factors such as your employment status, debt-to-income ratio, and other financial obligations when making a loan decision.

It's important to note that even if you meet these requirements, approval for an OppLoans loan is not guaranteed. The company considers a variety of factors when making loan decisions, and not all applicants will be approved.

If approved for an OppLoans loan, the loan terms and fees will depend on your creditworthiness and financial situation. It's important to carefully review the terms and fees of the loan before accepting the offer and make sure you can afford the payments.

How much can you borrow from OppLoans?

OppLoans offers personal loans ranging from $500 to $4,000. The loan amount you may qualify for will depend on several factors, including your creditworthiness, income, and other financial obligations.

OppLoans considers a variety of factors when making loan decisions, and not all applicants will qualify for the maximum loan amount of $4,000. If you are approved for a loan, the loan amount and terms will be based on your individual creditworthiness and financial situation.

It's important to carefully consider how much you need to borrow before applying for an OppLoans loan. Borrowing more than you can afford to repay can lead to financial difficulties and damage your credit score.

If you need to borrow more than $4,000, OppLoans may not be your best option. You may want to consider other lenders or alternative financing options that can provide the funding you need. However, it's important to carefully review the terms and fees of any loan or financing option before making a decision.

Does OppLoans approve everyone?

No, OppLoans does not approve everyone who applies for a loan. The company considers a variety of factors when making loan decisions, including credit history, income, and other financial obligations. While OppLoans does not have a minimum credit score requirement, having a poor credit history or a high level of debt may make it difficult to qualify for a loan. Additionally, borrowers who do not meet the company's eligibility requirements, such as having a regular source of income or a checking account in their name, may also be denied. It's important to carefully review the eligibility requirements and loan terms before applying for an OppLoans loan and to have realistic expectations about the likelihood of approval.

Is OppLoans a legitimate company?

Yes, OppLoans is a legitimate company. The company is licensed and regulated as a lender in the United States and has been in business since 2012. OppLoans is also a member of the Online Lenders Alliance, which sets industry standards for transparency, fairness, and ethical practices.

OppLoans has an A+ rating with the Better Business Bureau and has received positive reviews from many customers. The company's loan terms and fees are clearly disclosed on its website, and customers have access to a variety of resources to help them make informed decisions about borrowing money.

However, like any financial product, OppLoans loans may not be suitable for everyone. It's important to carefully review the terms and fees of any loan before applying and only borrow what you can afford to repay. Customers should also be aware of the potential risks and drawbacks of borrowing money, including the risk of falling into debt and damaging their credit scores.

Is OppLoans a good lender?

Whether OppLoans is a good lender depends on your individual financial situation and needs. OppLoans is designed for people with poor or fair credit who may not be able to qualify for loans from traditional lenders. The company offers personal loans ranging from $500 to $4,000 with fixed interest rates and repayment terms that range from six to 18 months. OppLoans offers a line of credit products and refinancing options for existing loans. The company also provides a free budgeting tool and financial education resources through its OppU platform. While OppLoans may be a good option for some people, it's important to carefully review the loan terms and fees and compare them to other lenders before making a decision. Additionally, borrowers should consider their financial situation and determine which lender and loan type best suits their needs.

Company documents

Rates and Terms
Security

We are a leading financial technology platform focused on helping middle income, credit-challenged consumers build a better financial path. Our mission driven culture means we keep the customer at the center of everything we do. We are passionate about creating accessible lending products that deliver a top-rated customer experience to the millions of Americans who are turned away by traditional providers.

© Opportunity Financial, LLC.
Offers
Rating by Finanso®
i

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.

4.25
(20 Ratings)
Recommended FinScore™
0
300
650
1000
500.00 – 4000.00 $
Rate
i

Interest rate

to 195.00 %
Term
i

Loan term for the financial product

9 months – 18 months
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Finanso
Personal Loans
Rating by Finanso®
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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™
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300
650
1000
2000.00 – 100000.00 $
Rate
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Interest rate

6.34 – 35.89 %
Term
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Loan term for the financial product

2 months – 5 years
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Rating by Finanso®
i

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™
0
300
650
1000
100.00 – 4000.00 $
Rating by Finanso®
i

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.

3.93
(20 Ratings)
Recommended FinScore™
0
300
650
1000
450.00 – 12000.00 $
Rate
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Interest rate

27.50 – 81.29 %
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Loan term for the financial product

6 months – 3 years
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Opploans reviews 2025
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4.6
Pros
The process was straightforward, quick, and efficient. I filled out a form and promptly received a text message confirming the application's receipt. Another message informed me that my application was under review, followed by a text indicating approval. Within 24 hours, the funds were in my account. It was a remarkably smooth and hassle-free experience.
Complain
4.4
Pros
My experience with OppLoans was stress-free, as I received the funds even quicker than I anticipated. The approval process was particularly swift, especially since I'm a returning customer.
Complain
4.2
Pros
Exceptional service! This is undoubtedly the most convenient loan option I've come across. They are fair, honest, and provide excellent assistance throughout the entire process. Their approach is so seamless that it's almost like they complete the application for you. After searching for days, I can confidently say there's no better loan company out there – this one is the genuine article.
Complain
4.6
Pros
I've turned to OppLoans twice for new loans and once for a refinance, and in my opinion, they stand head and shoulders above any other online loan company out there. Their interest rates are the most competitive in the industry for this type of loan. Their staff is not only friendly but also incredibly polite. Their loan application process is quick and straightforward, and the best part is that their loans can genuinely help rebuild your credit. I wholeheartedly recommend them to anyone in need of a loan for any purpose. They deserve a resounding five thumbs up! OppLoans is an excellent loan company, especially if your credit is below average.
Complain
4.4
Cons
I applied for an emergency loan, and it took more than a week and a half for them to respond, with an additional four days to deposit the approved amount into my account. In a genuine emergency, this delay could cause significant issues. This company is exceptionally slow, and the customer service leaves much to be desired.
Complain
4.6
Pros
OppLoans is outstanding. They approved me swiftly and provided the necessary funds the following business day. Managing payments is straightforward, and their service is top-notch. I highly recommend checking them out!
Complain
4.6
Pros
My experience with Opploans was unlike any other. They made the loan application process incredibly user-friendly and straightforward, providing a smooth and easily understandable online experience. I would highly recommend Opploans to anyone. They've set the standard for how applying for loans online should be.
Complain
4.8
Pros
OppLoans is undoubtedly one of the best choices out there! They are incredibly accommodating and make the entire process hassle-free. I've been a loyal customer for over three years, and I appreciate how, after at least three months, they offer the option to refinance if you desire. Their services are outstanding, and their terms are very reasonable.
Complain
2.2
Cons
This company is highly problematic. They appear to engage in predatory lending practices, frequently circumventing federal regulations in discreet and concerning ways that often go unnoticed by borrowers.
Complain
4.2
Pros
I required a short-term loan, and OppLoans delivered it promptly and without any hassle. Their customer service and professionalism were excellent, and they even followed up to ensure the deposit had been received.
Complain
aggregation.company.allReviews
Company rating
4.3
/ 5
20 reviews
Application
4.3
Support service
4.3
Mobile App
4.2
Service quality
4.2
Your satisfaction level
4.4
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