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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 Opploans's loan


How to apply


To qualify for the loans through OppLoans, the borrowers should:

  • Be at least 18 years old (or 19 in AL)

  • Have a bank account (checking or savings accounts)

  • Live in the state where OppLoans currently operates

  • Have a regular source of income

  • Receive an income through direct deposit

Proof of income can include a government benefits award letter, a pay stub, or a recent bank statement displaying regular deposits. If you don't want to have it considered as a basis for your ability to repay, you should reveal present alimony, child support, or separate maintenance income.

Application details

You will get an e-mail notification when your loan is approved.

If your application is approved before 8:00 PM CT Monday through Thursday, you will receive your funds on the next business day. If your loan is approved before 8:00 PM CT on Friday, you can expect to receive your funds on Monday. And if your loan will be approved after 8:00 PM CT Friday, Saturday, or Sunday, you probably will receive your funds on Tuesday.

If your approval day or deposit day is a bank holiday, there will be one additional business day of processing.

The time of funding depends on when your bank will post the ACH (Automated Clearing House) credits to your bank account. If you have a delay, contact your bank as soon as possible.

Like other lenders, the bank's transaction processing time can also affect the timeframe for loan disbursement. This means the OppLoans application process doesn't require a credit check, making it easier for applicants with a low credit score or limited credit history to qualify for a personal loan.

Sometimes OppLoans can reject loan applications of borrowers. There are several reasons:

  1. You don't meet the eligibility requirements.

  2. You don't meet the lender's commercial criteria.

  3. The lender decided that the loan is unaffordable for you.

  4. Your credit file has some mistakes.

How to apply for a loan

Before requesting a loan, you must review OppLoans eligibility requirements. Then you need to click on the 'Start New Application' button. After this, fill in the form with your first and last name. Choose the ways to contact you (e-mail, primary and secondary phone number).

In addition, you must point out your date of birth, your Social Security number (SSN), and your current income. As an applicant, note how much you earn per pay period, how often you get your salary and whether you're self-employed or traditionally employed. Point out your banking information.


What is the OppLoans APR?

The OppLoans APR is the annual percentage rate. It ranges from 59% to 160%.

What is the easiest loan to get approved by OppLoans?

An installment personal loan is the easiest loan to get approved by OppLoans.

How long does it take OppLoans to approve a loan?

Most of OppLoans' personal loans are approved within one business day.

Financial products

Personal loan
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™

Effective interest rate on the product

up to 160%

Loan term for the financial product

9-18 months

Calculate loan payments in Opploans

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

Loan amount

Enter the desired loan amount

500 $
4000 $
Loan term

Specify the loan term for the calculation


What to focus on before applying for a loan with Opploans

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 Opploans 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 Opploans’s reviews by October 2022
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