Oportun, formerly known as "Progreso Financiero," is a direct lender that targets the approximately 25 million financially-underserved Hispanics in the US. The two main advantages of Oportun over other lenders are that it provides reasonable rates to borrowers with no or little credit and that it reports payments the TransUnion and Experian: two of the three national credit bureaus.

The lender operates in six states and has over 200 locations, having funded over $2.6 billion in loans to over 770,000 borrowers. The company's rates are higher than traditional loans but much lower than the rates offered by the other lenders available to borrowers with poor or no credit.

Oportun is based in Redwood City, California, and is an accredited business with the BBB with an A+ rating.

How Does Oportun Work?

Borrowers can apply online, over the phone or at one of Oportun’s 200 locations. Customers do not need to have a bank account. They only need a valid ID, proof of income, and proof of address in one of the states where Oportun is licensed to do business.

What Are Oportun's Rates and Fees?

Rates are fixed for the term of the loan and vary depending on the amount how much you borrow, the term of the loan and your credit. They range between 30% APR and 39% APR.

How Much Money Can I Borrow From Oportun?

Oportun provides loans ranging from $300 to $7,000. However, the larger loans are only available to returning customers.

What Is Oportun's Application Process Like?

The application form only requires 10 to 15 minutes to complete. Borrowers who provide all the necessary information can have a loan decision on the same day. To qualify, applicants must have government ID, proof of income to determine how much they can afford to borrow, and evidence of address.

How Is Oportun Better Than Other Lenders?

Oportun is available to borrowers with little or no credit. It reports payments to two of the three national credit bureaus, which allows borrowers who are regular on their payments to improve their credit. Its rates are fixed for the term of the loan. They are in fact higher than the rates charged by regular credit cards and prime lenders. However, 39% APR is much less than what payday and title loan lenders charge, which are only other alternatives for borrowers with little or no credit history.


  • Credit Score Range
    300 - 700
  • Immigration Status Considered
    U.S. Permanent Resident
  • Joint Loan Applications Accepted
    Only Individual Applications
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Age
  • Verification Documents Required?
    • Proof of Income
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence
  • No Prepayment Fee
  • Approval Speed (Hours)
  • Funding Time Range (in days)
    1 - 7
  • Payment Options
    • Automatic Payments
    • Storefront
  • Loan Amount
    $300 - $7000
  • APR
    30% - 39%
  • Max Loan Term (Months)
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