Features

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 interest 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 Interest Rates?

Interest 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% 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 interest rates are fixed for the term of the loan. They are in fact higher than the interest 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.

 

  • APR
    30% - 39%
  • Credit Bureau Reporting
  • Loan Amount
    $300 - $7000
  • Payment Options
    • Automatic Payments
    • Storefront
  • Max Loan Term (Months)
    35
  • Checking Account Required?
  • Immigration Status Considered
    U.S. Permanent Resident
  • Lend To Military?
  • Minimum Age
    18
  • Verification Documents Required?
    • Recent bank statements
    • Recent pay stubs
    • Driver license (or other photo ID)
    • Proof of citizenship/residence
  • Approval Speed (Hours)
    24
  • Customizable Payment Dates
  • Deferred Payments
  • Funding Time
    1-7 days
  • Joint Loans Available
  • No Late Fees
  • No Origination Fee
  • No Prepayment Fee
  • Pre-Approved Soft Credit Inquiry
  • Institution Type
    Direct Lender
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0 votes

He leído todas estas críticas antes de solicitar un préstamo en este lugar, pero les di el beneficio de la duda sólo para descubrir que todos estos comentarios son ciertos. Es una pérdida de tiempo tratar de obtener un préstamo de este lugar, lo peor de todo, afectó mi crédito por sólo solicitar un préstamo de ellos. Afirman que su puntaje de crédito no importa, pero una vez que se aplican basan su decisión en su puntuación. El servicio al cliente de lo peor. No se los recomiento en lo ... absoluto More Less


0 votes

I read all of these reviews before I applied for a loan at this place, but I gave them the benefit of the doubt just to find out all of these review are accurate. It is a waste of time trying to get a loan from this place, worse of all, it affected my credit by just applying to get loan from this them. They claim your credit score does not matter, but once you apply they base their decision on your score.

1 votes

I applied for a loan in October, had it drafted from my account every two weeks. They called me to apply again, I figured eh what the heck would be nice to have some summer money. I applied again, wen thru all their B/S verification process, only to be told I need a cosigner. Why? All my stuff is the same. Now they have dinged my credit report again, I even paid a payment early. Can they also please learn to speak some English!. Horrible! Do not use them.

1 votes

Worst decision to get credit at this place out 140.00 that we pay monthly only 12.99 goes to the capital and the rest is interest.

0 votes

I got a random letter from them and I thought oh what the heck. The letter gave pretty specific rates and I asked the first person if I would get the same rates. They told me if I passed the initial process that I would definitely get the same rates. Well I passed and I was told to fill out the remainder of the info online which I did. About 20 minutes later I was approved and I called the number, but I was given completely different rates: the APR ... changed (went up by about 14%), the loan time change and the payments nearly doubled. After all this it sounded a little too shady so I decided not to go through with it. In addition to all of this, they seem to primarily cater to Spanish speakers and I was having an extremely tough time understanding the broken English of the second customer service rep. Furthermore, their phone system is mainly in Spanish and it isn't designed all that well- if you are an English speaker you will lose your mind. Bottom line, if you want a loan where you are paying an APR of about 50% go for it, but there are way better options then this crummy place. More Less

1 votes

yo sauque un prestamo de oportun y los pague los dos pero con el timepo me fui a bancarota porque ellos no me quiseron ayudar y por culpa de oportun me fui a bancarota


1 votes

They are liers, i got my loan in 2015 i paid off with automatic payments , and thrn the customer service and front desk ladies, told me "oh you are qualified for new loan, as you paid off your loan, without anyblate fee, or late days, for sure you will get it , and also increase you limit, " i sign everything they run and take some points of my creidt and they died me, saying in sorry you will receive a letter ,blablablabla, and we do not guarranty ... any approve loan" bad bad bad bad !!!!!!!!! More Less


0 votes

Fernando ese Carta es una carta de promocion. Se manda a gente que a sacado credito. Y como no va a exister el numero de reservacion? A cual tienda fuistes? Y specificamente donde dice que no chequamos credito? La Carta dice que credito no es necessario para sacar prestamo. No dice que no chequamos credito.

1 votes

NO LES CREAN ESTOS SON LOS MAS MENTIROSOS DEL MUNDO ,TE MANDAN CARTAS K NI HAS SOLICITADO Y TE DICEN K ESTAS PREAPROVADO Y TE DAN UN NUMERO DE RESERVACION Y CUANDO LO INTRODUCES TE DICE K NO EXISTE EN SU BANCO DE DATOS , SON MENTIROSOS FALSOS, DICEN K NO TE CORREN CREDITO EN SUS ANUNCIOS PERO SI LO HACEN ,,,,OLVIDENSE DE ESTA COMPANIA FALSA.....


1 votes

tengan cuidado con esta compania, "OPORTUN" pertenece al banco de america,unos de los bancos con mas fees q otros bancos. Ellos aprovechan la nesecidad de nuestra gente latina ,para poder cobrar altos intereses ,es la compania con los intereses mas altos del mercado, Su personal es una bola de gente q ni siquiera han hecho una carrera o graduados de college.esto es una institucion financiera,nesecitan personal a la altura,pero claro todo es parte del systema de ahorro y ganancia de esta compania, aprovechandose de los problemas de nuestra gente te ... cobran hasta el 59% de interes y si les pagas antes de tiempo ya no te prestan dinero,,NO CAIGAN EN ESTE FINANCIERA,ostigan a la gente con sus llamadas constante , q colera me da ver como nuestra propia gente nos unde en estos negocios malos q a la larga no hay ningun progreso financiero y utilizan a nuestra gente con sueldos bajos ha cobrar altos intereses a nuestra misma gente. ellos se aprovechan de la ignorancia de los latinos para estos negocios malos.TIENEN LA TASA DE INTERES MAS ALTO DE LOS USA,para el latino,y nos quejamos de discriminacion,,,no sean pendejos y hay q ir a estudiar,para q gente como OPPORTUN no nos lleve a la ruina con esos prestamos...NO USEN OPORTUN,se van arrenpentir como lo estoy yo,q fue el peor prestamo de mi vida,,aver si ya eres cliente del banco de america,por q no te prestan ellos mismos ,no q crean una compania para prestar ha altos intereses y todos califican,Tengan cuidado,hay mejores prestamistas ,a bajo interes y un pago mensual solamente,con opportun 2 pagos mensuales y el contrato dura igual .no se dan cuenta nos estan haciendo podre y no hay progreso financiero,no mas para ellos. q cagada son... More Less

1 votes

Terrible workplace When I first started at the company I was excited and it was a pleasant place to work. More than two year with the company things started going downhill. Management was poor and their work experience that was claimed to have was a lie. Management had no sense of directions which made it hard for the employees to work under uncertainty conditions. Also management doesn't listen to their employees, and they second guess them even when they are unsure of the answer (management has no guidance or dire... Pros: ... None Cons: Lack of knowledge, respect, poor salary, poor management. Loans interest rates to high and customer always making complain about the collections department. More Less


2 votes

Had my first 2 loans with Progreso and my third one with Oportun, but I have never been so unhappy before. Oportun’s customer service is so bad, unprofessional and its employees are so incompetent and they do not know what they’re doing. It does not matter if they are managers and/or supervisors, still they’re useless. I’m trying to find out if there are any other unhappy customers because I’m looking into filing a lawsuit against them for the improper way of handling my loan payments, how they ... are affecting my credit history and for not doing what they’re were told to do and now Oportun wants me to pay for their mistakes and since I refused, I’m the most affected one. DOES ANYONE KNOW WHERE I CAN REPORT THEM? More Less


1 votes

CUIDADO. ESTA COMPAÑIA ES LO PERO QUE PUEDES HACER PARA TU CREDITO. SERIA MAS SANO IR A PEDIR A LA CALLE ANTES DE QUE TE ROBEN ESTOS MALDITOS.a


0 votes

i Got 3 loans with Oportun, paid the 2 first before there time, last one made payments on time. Applied again and they said i was denied. No, reason given. Spoke with supervisor and she was no help. I will never borrow from them again. they make apply Everytime you pay off your loan. they run your credit over and over. Never again. Highly don't recommend them.


0 votes

Not easy to get a loan. Open later, then most places. I paid my first loan in full,after a couple of pay checks. Tried to apply again, when car broke down. I couldn't even get approved. Never again. They ask for everything but your blood type.


0 votes

Great company. Just bad costumer service. Try to make a payment with my new bank account and they charge it to my old one. Then I was stuck paying extra fees for returned payment

0 votes

They used to be good when they were Progreso Financiero. I applied for an emergency loan because my car needed repairs. The interest was high, it was like 32% but I was desperate. I signed up for automatic payments and paid off the loan within 14 months. The process before was simple. Now, with their new CEO they are cutting out the people they wishes to help! Now you must have very good credit, they denied me TWICE after I paid them off. I own a home and make a ... decent living but if you live in California you know it is hard to save here. I have a dental emergency and needed the money to get my tooth fixed. Oportun didnt want to help. They are losing customers here because they are now changing their values, mission, and goals. They no longer want to help us in the communities they wish to "change". Now they are all about money. More Less


0 votes

Do not waste your time with this company. Worst loan place you can go to. The interest rate is insane too.


0 votes

Pésimo servicio al cliente, arrepentida estoy de este préstamo, solo quiero terminar de pagarles y nunca saber más de esta compañía ratera.


0 votes

I just pplied for the loan. It only took about 20minutes. They asked for all of my debt info. How many cc, what my credit was each one of them and the amount of debt I had woth each one. I provided my references and answered a couple more questions. I will provide my bank info and present my ID today at 4pm at my local office. Phoenix, AZ. Customer service wasn't too good but wasn't horrible as others have stated. Just answer with a straight YES or NO ... and move on. More Less


0 votes

I have never applied for a loan that I applied on Saturday an it is now Monday an the application is still pending what is this? You ask questions no answer there no Suoervisor or anything that can give you a definite answer. They are sending report. An then you have to wait another 12-24 before you get a answer.

What is that all about I will tell anyone donot go to Oportoun take your chance at a bank or another loan. Service. They are not the only one ... who provides this services. More Less


0 votes

I went into an office to apply. My application was processed, a photo taken- papers signed and I was told someone would be calling me in 1/2 hour to finalize. No one called. I called next day and was told they were still checking the references I gave them and someone would call by 4 PM. No one called. I called the next evening and was told 2 references hadn't answered and this was the delay- I asked why no one from Oportun called to let me know- they had ... no answer- gave them yet 2 other references they said they would call them and call me by 4 PM next day- It is now next day and no one has called my references and It is now 6PM no call- I called Oportun- asked to speak to a supervisor after VERY long time someone came on saying she was a Supervisor told her all of this- she said my loan isn't the only one they are processing- if I want to expedite ( well she said speed it up) have MY REFERENCES CALL THEM! I asked, if these are to be contacts on file, why are they being called- or asked if they know my address, and are they being asked, as I have read in complaints on line, if they would be able to pay my loan if I don't!! Total invasion of privacy- So I'm told they will call tomorrow by..You guessed it- 4PM Very very unprofessional service More Less


0 votes

My husband applied for a loan and the process too very long. About 3 hours and the customer service people in the Cermak location were taking their time. He was told to pick up the check in 45 mns but the waiting time was just insane.


0 votes

I have low credit score because of poor choices in the past. They helped me get a loan. Since I needed the money fast I called them shortly after and asked if they had talked to my references. They said they had not yet but the process would be faster if they called directly. I have my refrences the number and even though it is inconvenient it got the process moving. Who knows how long it would've took if they didn't call. Within a few hours I was able to ... pick up the money. It starts boosting your credit score when you make on time payments takes about 60 days to show on your credit score. Great place. I'm glad I'm able to work on my credit now. More Less


0 votes

Needed an emergency Loan after a minor Car Accident and they helped me out. We set up automatic withdrawal so we should not miss a payment. The interest can be high but that can be expected with these smaller companies. As long as you fulfill your end of the bargain, they are reasonable to deal with. A few communication issues at the beginning of the application process but things were cleared up in a professional manner so I will give them 4 out of 5 stars.


0 votes

The process was easy and the staff was very helpful!


0 votes

They don't have a website to complete the application. Very inconvenient. When you go to the store they tell you how the process goes. Take your information and tell you to wait an hour. I waited all day along with my references and have not got any notification. You call the 888 # and have horrible customer service skills. They interrupt you and have a condensing tone. The process then takes up to 24 hours to review a paystub proof of residency credit and call your references. If I was ... informed I wouldn't be so upset. But because I have my references waiting for that long that's what upsets me. More Less


0 votes

I had never experiences such poor customer service until I obtained a loan thru this Co. Expect to wait LONG time for POOR service, the ladies are rude and always show their bad side regardless of how the customer are.. Definitely better off paying $3 to 7-11 for a payment processing!


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