OppLoans Reviews
- 4,697,285 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.


+1 more

About OppLoans
OppLoans is a fintech (financial tech) company that says it wants to help Americans better their financial lives, focusing especially on those who lack access to traditional funding options. To help its customers, OppLoans offers unsecured installment loans to borrowers in need, including those with bad or no credit, entirely online.
- Same-day funding in some situations
- Secure website with 100% online process
- No hard credit inquiry
- High APRs
- Not available in every state
Featured Reviews
What is OppLoans?
OppLoans is an online loan platform that specializes in installment loans with quick funding. While OppLoans does not perform a hard credit check, it does have basic requirements borrowers must meet to be approved for a loan. You must:
- Be at least 18 years old
- Reside in one of the states OppLoans services (not available in Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts and South Dakota)
- Have a regular source of income
- Have a checking or savings account
- Receive paychecks through direct deposit
It's possible to get loan funds on the same business day you apply using OppLoans. Once you have your loan, you can pay it off early without a prepayment penalty.
How does OppLoans work?
OppLoans connects people to installment loans without a credit score requirement. Eligibility for a loan depends mainly on your income level. OppLoans requires borrowers to prove their income. To apply for a loan:
- Fill out the online application. This can be completed in fewer than five minutes.
- Connect your bank account to verify income.
- Review and accept the terms and conditions of the loan.
- Wait for a decision. You’re typically notified by the next business day.
Interest rates, term lengths and loan conditions vary by state, but all OppLoans loans must be repaid within nine to 18 months.
You’ll have lower monthly payments with a longer term length, but you’ll also pay more in APR over the life of the loan. Customers can apply to borrow funds from $500 to $4,000, and you may get money in your account the same day if your loan is approved by 12 p.m. Central on a business day.
OppLoans rates
OppLoans’ annual percentage rates (APRs) are 160% to 195% in all states where loans are available. There are no origination fees.
If you were to qualify for a one-year loan from OppLoans for $3,000 with a 160% APR, your monthly payments would be around $514.60, and you’d pay back a total of roughly $6,175.20. OppLoans does not charge fees for paying back the loan early, which helps reduce the amount you pay in interest and fees.
OppLoans FAQs
Is OppLoans safe?
OppLoans is safe, but it is not the right financial solution for everyone. The high APRs can lead to paying back significantly more than you borrowed.
Is OppLoans good?
OppLoans can be a last resort option for people who need a medium-size loan they can pay back quickly, especially those who have bad credit and don’t qualify for a traditional loan.
What credit score is needed for OppLoans?
There is no minimum credit score required.
Is OppLoans for bad credit?
Yes, OppLoans works with people with less-than-ideal credit and does not require a minimum credit score. Eligibility is based on several factors, including state of residence, current employment and direct deposit enrollment. However, it does report to all three major credit bureaus, so failure to pay could result in a lowered credit score.
Can you pay off OppLoans early?
Yes. There are no prepayment penalties.
Is OppLoans a monthly payment?
Yes, OppLoans offers monthly and bi-weekly payments. However, the payment schedule is based on how often you get paid.
How quickly can I get money from OppLoans?
You can receive money from OppLoans as quickly as the same business day.
Is OppLoans legit?
Yes, OppLoans is a legitimate online loan platform that specializes in installment loans for those with bad credit. It’s transparent in its terms and conditions, but those who can find loans with lower APRs would pay less over time by doing so. For people with less-than-ideal credit who need funds quickly and can pay the amount back in a short period, OppLoans may be a good lender to use.
OppLoans Reviews
Filter by Rating
- (178)
- (12)
- (1)
- (12)
Popular Mentions
- 4,697,285 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
A link has directed you to this review. Its location on this page may change next time you visit.
- 4,697,285 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
OppLoans Company Information
- Company Name:
- OppLoans by Opportunity Financial, LLC (OppFi)
- Company Type:
- Private
- Address:
- 130 E Randolph St, Suite 3400
- City:
- Chicago
- State/Province:
- IL
- Postal Code:
- 60601
- Website:
- www.opploans.com
