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% 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 bureau reporting
  • Interest APR
    30% - 39%
  • Joint loans available
  • Loan Amount
    $300 - $7000
  • No late fees
  • Payment options
    Automatic Payments Storefront
  • Max Loan Term (Months)
  • Target Credit Score
    Deficient (559 or below) Poor (560 - 639) Fair (640-699)
  • Checking account required?
  • Immigration Status Requirements
    Must be U.S. Citizen or U.S. Permanent Resident
  • Lend to military?
  • Minimum Age
  • Unemployed applicants considered?
  • Verification documents required?
    Recent bank statements Recent pay stubs Driver license (or other photo ID) Proof of citizenship/residence
  • Customize payment dates
  • Deferred Payments
  • No Origination Fee
  • No Prepayment Penalty
  • Pre-Approved Soft Credit Inquiry
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
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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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