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OppFi Introduces Same-Day Funding Option through OppLoans

Last updated 03/15/2024 by

OppFi, a mission-driven fintech platform offering digital specialty finance products to help everyday Americans access credit, announced the launch of a same-day funding service on its OppLoans platform and surpassing one million unique customers over its 10-year history.
After offering financing opportunities for 10 years, OppFi announced the launch of a same-day funding service on its OppLoans platform after surpassing one million unique customers.

Through collaboration with its partner banks, eligible customers who apply and are approved by 1:00 pm ET on a business day can receive funding on the same day. Since the launch of this feature, around one-third of customers have received same-day funding.
The same-day funding service aligns with OppFi’s goal of improving customer financial health. The company also provides financial education, local resources, borrower assistance, and payment deferral options in case of hardship. In addition, OppFi maintains partnerships with social impact organizations to provide its customers with free access to their services, such as Steady, SpringFour, and Experian Boost®. OppFi is continuously seeking relationships with organizations that share its social impact mission.
OppFi provides customers with top-notch features and protections, including simple interest loans with no balloon payments, no hidden fees (origination, late, or insufficient funds), and no prepayment penalties. As well as reporting to major credit bureaus, the company offers its own loan referral program called OppFi TurnUp, which finds more affordable credit options with sub-36% APR on behalf of applicants.
By offering same-day funding and valuable social impact tools on our platform, we’re meeting a diverse set of financial needs for customers,” said Todd Schwartz, Chief Executive Officer and Executive Chairman of OppFi.
“Our platform has industry-leading features that further distinguish OppLoans in the marketplace and enhance our mission to facilitate safe, simple, and more affordable credit access to the 60 million Americans who are underserved by banks and other financial institutions. We are very excited to have surpassed the one million unique customer milestone in our history and appreciate the trust that customers have placed in us,” Schwartz added.

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