in Personal Loans

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Strongly recommended

322 users recommend
16 users are unsure
44 users don't recommend
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Where does OppLoans do business?

OppLoans is a direct lender based in Chicago, IL. Founded in 2009, OppLoans offers access to personal loans in 34 states (and Washington, DC).

What are the APRs offered via OppLoans?

OppLoans has a variable APR that ranges from 59% up to 199%.

Does OppLoans charge an origination fee?

Yes, OppLoans charges a loan origination fee of 0% to 3% of the loan amount. OppLoans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow. 

Does OppLoans charge a late fee?

Yes, OppLoans may charge borrowers a late payment fee of up to $10

Does OppLoans charge prepayment fees?

No, OppLoans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow via OppLoans?

Loan amounts start at $500 and go up to $5,000.

What is the maximum loan term you can get with OppLoans?

OppLoans offers personal loans with terms ranging from 9 to 24 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with OppLoans?

Applicants with a credit score of at least 350 can apply for a loan via OppLoans . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

To qualify for a OppLoans loan, applicants need a minimum annual income of $18,000 or higher. OppLoans only considers borrowers who are employed and meet the minimum income requirement.

Active duty servicemembers and their covered dependents cannot apply for a loan via OppLoans. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid checking account
  • Recent pay stubs
  • Proof of income
  • What is the estimated funding time for a personal loan via OppLoans?

    OppLoans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 3 business days of approval.

    Does OppLoans report loan payments to credit bureaus?

    OppLoans may report credit data to the following credit reporting agencies:

    • Equifax
    • Experian
    • Transunion

    OPPLOANS Disclosure: Rates and terms vary by state. Applications processed and approved before 7:30 p.m. ET are typically funded the next business day.
    SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


    • Headquarters
    • 130 E Randolph St
      Suite 3400
      Chicago, IL 60601 USA
    • Visit Site

    Message from OppLoans

    More affordable personal loans to help build your credit.


    Available in 34 states and Washington, D.C.
    • Alabama
    • Alaska
    • Arizona
    • California
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Kansas
    • Kentucky
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Mexico
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Washington
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Prepayment Fee
    Late Fee Amount
    Origination Fee
    0% - 3%
    Minimum Age
    Credit Score Range
    350 - 600
    850 300 600
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Minimum Annual Income
    Bank Account Required?
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
    Military Status
    • Non-Military
    • Veterans
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    Joint Loan Applications Accepted
    • Only Individual Applications
    Verification Documents Required
    • Proof of Income
    • Recent Pay Stubs
    Loan Amount
    $500 - $5K
    $100 $100K+
    Loan Term (Months)
    9 - 24
    1 180
    59% - 199%
    4% 100%+


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