Opportunity Loans is a trade name of Opportunity Financial, an online lender based in Chicago, Illinois. It offers fast personal loans to people with poor to fair credit. Its interest rates are high when compared to prime lenders. Yet, they are competitive when compared to payday lenders and other lenders that target borrowers with poor credit.

The business was launched in 2009 and is currently managed by Jared Kaplan, its CEO, and President. Opportunity Loans has an A- rating with the BBB and is ranked high in social networks.

How Does OppLoans Work?

Opportunity Loans only accepts online applications. The process takes only a few minutes and applicants know immediately if they 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 generally deposited within the next business day. 

As of November 2015, Opportunity Loans operate in Alabama, California, Delaware, Idaho, Illinois, Missouri, New Mexico, Ohio, South Carolina, Texas, Utah and Wisconsin.

In certain states, such as Kansas, Tennessee, and Virginia, Opportunity Loans offers a line of credit product. Interest rates for the line of credit range from 36% to 160% and have an origination fee of $50. The line of credit works like a credit card and minimum payments are 4% of the outstanding balance.

What Are OppLoans’ Terms and Interest Rates?

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

For example, in California, APR rates range from 36% to 160% and terms go from 9 to 36 months.  In Utah, rates range from 125% to 199% APR and loan terms go from 6 to 24 months.

There is also an administrative fee to consider that is not included in the APR. The administrative fees vary by state. In California it is $75; in Virignia it is $50, and in Kansas it is a $2 of the credit limit.

A typical loan with OppLoans is for $1,00 and has 17 bi-weekly payments of $81. That is the equivalent of a 99% APR.

How Much Can I Borrow From Opportunity Loans?

Opportunity Loans offers loan amounts ranging from $1,000 to $10,000.

Monthly payments vary depending on the loan amount, term and interest rate. To illustrate, a loan of $1,000 with an interest rate of 99% and a 17 bi-weekly installment plan will have monthly payments of approximately $144.

What Is Opportunity Loans’ Application Process Like?

Opportunity Loans has a fast and short application process. We love that borrowers 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.

Applicants must have a stable income of at least $1,500 a month. They must also have direct deposit set up to their bank account. 

How Is OppLoans Better Than Other Lenders?

Opportunity Loans offers the following benefits:

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

You should consider this:

  • Opportunity Loans is not available in all states.
  • Interest rates are high. 
  • There is no option for a soft credit inquiry. 
  • In some states, there is an administrative charge to consider.


  • Interest APR
    36% - 199%
  • Loan Amount
    $1000 - $10000
  • Max Loan Term (Months)
  • Lend to military?
  • Origination Fee
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
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0 votes

Was in a major trouble. Needed the cash and got it fast. Good rates next to some of them others.

0 votes

Had a very good experience with a number of the OL folks. Walked me thru the entire application, stayed patient, and got me my funds in a 911 sitch. Thank you.

0 votes

Waste of time the rates are extremely high for low loans

0 votes

Thanks you so much OppLoans. Car broke down and you came to the rescue when my bank failed me.

0 votes

Said what they would do. Did what they said. Always pick up the phone.

0 votes

Best lender I have worked with. Fair and transparent

0 votes

es, they gave me the money quickly and it was fairly easy, but they didn't tell me how much I was going to have to pay on it when the due date came. I emailed and emailed over and over and never got a response. I couldn't get an answer om the phone. Just bad customer service. I was worried. Then it started coming out, 97 a month. Not so bad. Then suddenly the week after next I got charged again and totally was not expecting it because again THEY ... WOULDNT REPLY TO MY EMAILS. It's been a couple months and I can't get caught back up. So I look on the website to see how much I have left to pay them and it's still about 900 out of 1000? Wth, I'm thinking as I look into it for an explanation. And then there it is. Over half of what I'm paying is interest! So I got 1000 and will end up paying over 2000 for it. Another question I sent them in a few of the emails that were never replied to. Dont trust it please. I was led to believe the interest rate would be left, I assumed the payments would be monthly, and they just did not bother to care. More Less

0 votes

I applied and everyone was very respectful and nice. I was approved for what I needed it was fast and reasonable.

0 votes

Hope this is not a scam. I got a pre approved up to 4000 I applied. I got denied. I don't mind getting denied but how you going to deny me right after I submit application??? After I put my information out there hope this isn't fake.

0 votes

The process is high and fast and also have excellent customer service. But my only problem will have to be with the interest rate. Way to high to be paying back a loan. I feel with this amount being the charge I will never pay this loan off. I have to pay this loan and close it out. I am grateful that they approved me and was able to help me. But to charge me so much interest and the amount to pay back the loan is the way to ... high. I would never recommend this please of high fees. Trust me it is a great step to help you out but be careful with the amount you have to pay back. More Less

0 votes

I appreciate the help that I received from my loan officer, Charsom. I had a couple of concerns that he quickly addressed so I was able to complete the application process with confidence.

0 votes

My loan was approved quickly, and really helped me out when I needed it. Quentin - Jenn S. and Cecily were instrumental in the process.

0 votes

I received a pre-approval letter for up to $4000 and put all my info in, yet still got a denial with no explanation.

0 votes

Lance is a great loan assistance. Thanks for all your help which is greatly appreciated.


0 votes

Opportunity Loans has given me an opportunity. I have had an exceptiomal experience and the quality customer service that deserves mention by Lance Dewberry and also Holly (?). Thank you!

0 votes

Thank you, Holly for your professionalism, patience and efficiency. You helped me to walk through a couple issues and as a result I was able to complete the application process an obtain the loan. Thanks again. Glenda Hart

0 votes

OppLoans treated me like family when others treated me like dirt. THANK YOU.

0 votes

Hi, I'm Martha Reed, my review is about a superb young man by the name of Lance. He was very helping and humble. He took his time to disclose the loan and many other opportunities with OPP. I appreciate the level of professionalism and patience he displayed. Great experience !!

0 votes

Best lender online. Approved me fast with terrific customer service. And rates were very reasonable. Thank you!

0 votes

Approved for loan but repayment terms are way too high.

0 votes

Good company I got loan in a day and get money fast,service is great.

0 votes

Supposed to cater to people with poor to fair credit, but rejected me for underwriting policies.

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