Features

OppLoans is a trade name of Opportunity Financial, an online lender based in Chicago, Illinois. The company offers fast personal loans to people with poor to fair credit. The rates are high when compared to prime lenders. However, the rates are competitive when compared to payday lenders and other lenders that target borrowers with poor credit.

The business was launched in 2009 and has provided loans to more than 25,000 borrowers. OppLoans' edge on other lenders is its friendly customer service and that it doesn't pull your credit with any of the major credit bureaus, ever. Other lenders will perform a soft pull on your credit when you check your rate but perform a hard pull on your credit if you accept the loan agreement. OppLoans, on the other hand, never pulls your credit score with Experian, Equifax, or TransUnion, so applying for a loan will not hurt your credit score.

OppLoans has an A+ rating with the BBB, a 4.8 customer rating with Google, and 4.9 rating with Facebook. 

How Does OppLoans Work?

OppLoans only accepts online applications. Applying for a loan does not affect your credit score. And it only takes only a few minutes to know if you qualify for a loan. Eligible applicants receive an instant loan agreement that details the rates and terms of the loan. If a borrower agrees to the terms and submits the loan agreement, funds are deposited within the next business day. 

OppLoans operates in Alabama, California, Delaware, Georgia, Idaho, Illinois, Kansas, Mississippi, Missouri, New Mexico, Ohio, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin.

In certain states, such as Kansas, Tennessee, and Virginia, OppLoans offers a line of credit product. 

What Are OppLoans’ Terms and Rates?

Rates vary widely from state to state and depend on each borrower’s credit profile, loan amount, how long it takes to repay it. Rates range from 59% APR to 199% APR, and loan terms go from 6 to 36 months.

As an illustration, in California, an example rate is 160% APR with an 18-month term. In Georgia, an example rate is 59% APR with a 24-month term.

There is also an administrative fee to consider that is not included in the APR. The administrative costs vary by state. In California, this fee is $75; in Kansas, the origination fee is 2% of the credit limit.

An example loan with OppLoans is one that is $1,000 and has 17 bi-weekly payments of $81. That is the equivalent of a 99% APR.

How Much Can I Borrow From OppLoans?

OppLoans offers loan amounts ranging from $500 to $5,000.

What Is OppLoans’ Application Process Like?

OppLoans has a fast and short application process. Borrowers can know immediately whether they are eligible and what their rates and term are. The entire process from application to funding can take as little as one business day.

How Is OppLoans Better Than Other Lenders?

OppLoans offers the following benefits:

  • Fast loans and an easy application process.
  • Borrowers with poor credit can qualify.
  • OppLoans reports payments to Equifax, Experian and TransUnion. If payments are made on time and regularly, this can improve the credit score of borrowers.
  • There are no prepayment penalty fees.
  • OppLoans can be cheaper than some payday loans.
  • You can check your rate without it hurting your credit score.

You should consider this:

  • OppLoans is not available in all states.
  • Rates are high.

 

  • Loan Amount
    $500 - $5000
  • Payment Options
    • Automatic Payments
    • Check by mail
    • Credit/Debit Card
  • APR
    59% - 199%
  • Max Loan Term (Months)
    36
  • Checking Account Required?
  • Credit Score Range
    500 - 600
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Military Status
    Non-Military
  • Minimum Age
    18
  • Supported Income Types
    • 1099 Misc. Income
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • Verification Documents Required?
    • Recent bank statements
    • Recent pay stubs
  • Late Fee Amount
    $10
  • No Prepayment Fee
  • Origination Fee
    Up to 3%
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
    24
  • Pre-Approved Soft Credit Inquiry
  • Funding Time
    Next business day
  • Credit Bureau Reporting
    • Equifax
    • Experian
    • TransUnion
Rates and terms vary by state. Applications processed and approved before 7:30 p.m. ET are typically funded the next business day.
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Reviews

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0 votes

Due to some illness, I got behind in my bills. I found OPP Loans through a Google search. Philip was my rep and he was awesome! He walked me through the process until it was completed. But customer service I have gotten in a long time. Thanks so much!

0 votes

Thanks Char! You were super helpful in going through this process.

0 votes

Friendly work with you and extremely helpful would recommend anyone in a heartbeat

0 votes

Fastest funding I have ever had. Application process was quick and easy, and the customer service is excellent.


0 votes

I would like to thank Alicia for all her support she gave me love the way she was on everything company should be so happy to have her on the team to me she was my angel that was helping my father above he always help when he see a person in need thank again Alicia.

0 votes

The lady I spoke with was very patient me and nice

0 votes

They are great!!! Everything was made so easy.I love how quick and professional their customer service is when it comes to completing the loan process.When I borrow from other loan companies I feel like I'm getting ripped off with the repayment but not with OppLoans !!

0 votes

I called today to ask about my application and I spoke with Oliva. She was nice and very courteous. Olivia answered all my questions satisfactorily. It was one of the most pleasant experiences I've had with a loan consultant.

1 votes

Outstanding service, quick helpful and detailed. Very impressed with the professional staff. Will guide you thru so the process is fast and easy. I had the pleasure of working with Olivia. Way to go!! Charles hicks

0 votes

The lady that helped me Olivia was great. Your interest rates are ridiculous.. but your customer service is wonderful.

0 votes

Olivia was very professional and helpful. She called almost instantly.


1 votes

Super easy very fast and Customer service was perfect! Tara was very nice and professional. I highly recommend them if your in a bind and need help to get through! !

1 votes

I used my mobile phone to start the process and almost immediately after submitting I received a phone call. The call came from a unknown number so I let it roll to voicemail- my line rang again and I answered. There was a pleasant greeting received from Phillip who explained who he represented and the nature of the call.

Phillip explained the next steps and what I need to do from an actual pc/laptop/ tablet as opposed to my mobile phone. Upon completing those steps- RING..... and there was Phillip ... once again- our connection wasn't so great and he offered to disconnect and callback so I'd hear everything.

Phillip was pleasant, very knowledgeable, personable- I felt like I was speaking with a friend but he was also very professional. Phillip reiterated the terms, asked if I had questions and set the expectations for what comes next. I'm at a very rough "fork in the road" and despite my anxiety Phillip made this a very stress free experience.

Thank You Phillip!!
More Less

1 votes

My application process was very fast and the customer service from Phillip was greatly appreciated. He was very friendly and I had no issues whatsoever.

Thank you, Melanie Castellanos

0 votes

Quick and easy application process Simple enough to understand and good customer service

Thank you char

0 votes

The application process was beyond simple. Phillip was extremely courteous and professional. I have never experienced such accurate and rapid service while applying for a loan online. Also, the payments are affordable.


0 votes

Thank you kindly to Phillip who provided amazing customer service.

0 votes

Char has helped me out greatly and he answered all my questions satisfactorily. Thanks a lot, Char!

0 votes

Char was wonderful. He was patient and made sure he I understood the entire process and my repayment options.

0 votes

The loan application was quick and simple and Char was helpful

0 votes

LIES!! Sent preappoval and we desperately needed money for a medical emergency. Don't waste your time applying. I should have never even bothered with them. After being denied I was sent more preappovals and requested they stop sending but I am still getting their crap in the mail.

0 votes

I wish I could give them no stars. They originally pre aproved me a loan for $3000 well I was happy with that as I needed the money. I put in all of my information but also used my husband's income. After all, the application asked for monthly income. So I got the loan and about 4 months later I received a refinance. I gave them the exact information but was told no because of income. How? When I gave you all the same info. Turns out ... these sobs dropped the ball. No one paid attention to the difference in name and information. I wasn't deceitful I gave exactly what they asked for. So I get penalized for it. Fuck Opp Loans and when I'm done with my payments in January I will fix them good. Fuckers!!! To top it all off they have continued to send me refinance emailsbiz@aol.com More Less


0 votes

This company provides fast money to those who need it with very few questions. This is a high interest pay day loan. As long as you understand the high fees associated with this type of loan, you'll be okay. OppLoans lost two stars because after signing forms that clearly stated my bi-monthly payment dates, they continued to debit payments from my bank account two days earlier than scheduled. While they did cover my overdraft fees, it took two weeks to get the deposit from them for those fees. Furthermore, to ... this date, they have continue to pull money from my account two days before the agreed upon due dates. At this rate, I've made the proper arrangements to pay them early since they refuse to resolve the issue. More Less

0 votes

Greg from Opp loans was Great!! He gave me great customer service! I will be recommending Opp loans to more people!!

0 votes

Total crap. I got a mailer saying I was pre approved then got denied. Thanks a lot for getting my hopes up that I might be able to get some much needed car work that I can't afford otherwise..

If you get a mailer saying you are pre approved, might as well toss it straight into the garbage because they won't give you one damn dime.

0 votes

Haven't finished the application yet. Am in desperate need of fast cash to fix car and get caught up on rent and utilities, BUT, when I got to the part of the application where you have to give up all your banking info FIRST? Before you even KNOW if youre approved?? That seemed sketchy to me. Why not just tell me if I am eligible BEFORE you jack my bank info. I changed my mind immediately. I have had my bank account hacked recently by an "ACH" company which stands ... for "All Clearing House" so another words, you really have NO IDEA who has access to your account, if they sell your private info, or if they even apply the money they take to go towards your loan. ACH took $300 out of my bank account 2 months ago, I totally lost my mind. it's all I had, another words, they emptied my account. What a detailed mess to fix. Fraud Recovery from my bank finally did put the money back in my account. some investigation was done to determine who took it, and they came up with a brief description of "Navient" which dogs people for student loans. student loans?? I;m 57 and never went to college! so with ANY company that uses "ACH" as their payment center, BEWARE,you will never really know or be sure who is in your bank account. You may think you are paying the loan off, but in alot of cases the money goes to someone else in the "ACH" and its a cra[-shoot to ever find ot where your money went. so for those reasons, I'm not giving my bank info to someone I don't know who might sell it to someone oversea? no way man. I'm broke and need cash but at this point I'd probably be safer being a hooker. (JOKE!) More Less


0 votes

Thank you Bob for calling me. I was dissapointed because i could'nt make my daughter birthday special. I am so happy you going to make her birthday so special. Thank you

0 votes

i want to send a special shout out to Kevin. I applied for a loan on line and within minutes I rec'd phone call to provide additional information. Initially, there where problems with my pay stubs (retired military and Civilian), that the underwriter couldn't understand. After several phones between Kevin and I, the underwriter finally understood and approved my loan request. Awesome job and very professional. So to you Kevin, just wanted to thank you for making this loan process quick and ... easy. Again, thanks to you and your team for such prompt service. More Less

0 votes

It took me a while to get in to my account to get the documents i needed to get my loan process and i did not how to send it in pdf form so BRITTANY from OppLoans went in and did the work for me thanks for being patient with me and having great customer skills i will recommend opploans to my friends


0 votes

This company sends you a flyer in the mail stating "You're Pre-Approved for up to:" This is a Total LIE! These are random mailers you have NOT been PRE-SCREENED! Do NOT get your hopes up, chances are you will not be approved. The requirements states minimal, however, it goes much in depth than the minimal requirements. There IS A CREDIT CHECK RAN, and poor credit customers do not have a chance. Do NOT be FOOLED by this company. When i called to inquire ... on their statement of PRE-APPROVED, the only response i could get was "Our Legal Department, has advised we can say this, it is legal" WTH?? Dont get sucked into their LIES...avoid them!! If they cant make true statements, how can anything they offer be beneficial to the consumer? More Less

0 votes

Char was very helpful & fast with processing my loan

0 votes

These ppl are full of shit! After wasting my time constantly uploading documents to only have them say they haven't received them. The whole process took 3 damn days. To only have them deny you. And I only found out about the denial by logging in to their site. Never received an email which they say you will be notified by once a decision is made. Stay away from this company!!! Credit Karma needs to start looking more closely at these businesses they're suggesting to their customers.


0 votes

I haven't applied yet, but looking at the reviews I am having second thoughts. If there is a way to get approved before I give my banking information then maybe I will consider. If I received a pre-approved letter in the mail, which I did; what qualified me then? So I will give my work information but I refuse to give my banking information without knowing I am approved first.

1 votes

Terrible,, first they tell you are pre approved.. Then you give all your info .Then turn you down.. Hope this is not a con to get your info.. I'm going to notify the F.B.I. I think the positive reviews are B.S.!!!


0 votes

I jut have very bad experience with this company i always apply but i neve get approved Its like the third tome that im apply and always say the something

0 votes

Thank you Bob for reaching out to me today and looking into my concerns. Your company has definitely earned 5 stars and in the future I look forward to doing business with you again.

0 votes

They were very nice and the process was pretty quick thank you


0 votes

Tiffany R was excellent in helping me get a loan I was so happy that she answer my call. Thanks again Tiffany R you are awesome

0 votes

I needed a loan so I can take care of my new born and They help right away. thank you Victor for your help.

1 votes

This site doesn't tell you all you need to know to get funds. It can be a waste of your time.

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