OppLoans are offered by Opportunity Financial, a Chicago-based lending company that specializes in offering personal loans to consumers. Founded in 2009, OppLoans, also known as Opportunity Financial, is well-respected by customers and the lending industry alike. The company has an experienced leadership team and strives to make the lending process as simple as possible for its borrowers.

This lender specializes in personal loans for people with poor credit, but your state of residence determines whether you are eligible for either an installment loan or a line of credit. The loans are billed as a lower-cost alternative to predatory payday loans. While their lending rates are still high, they are some of the best in the short-term and payday lending industries. OppLoans interest rates run between 59-199% APR, while payday lenders average over 400%. 

In addition to lower interest rates, this financial institution offers much longer repayment terms than traditional payday loans carry. Typically, payday loans are meant to be paid by your next payday, so borrowers have to pay back their loan quickly. With installment loans, terms can last up to 3 years, for a lower-stress, more manageable repayment process. 

Whether you borrow through an installment loan or a line of credit, regular or monthly payments are required; however, with OppLoans, you can borrow more—up to $4,000, with a lower interest rate, for a longer period of time. 

Application requirements include:

  • Residence in an available state
  • 18 years old—19 in Alabama and Nebraska
  • Regular income
  • Checking or savings account
  • Receive paychecks through direct deposit

Keep reading for pros and cons, plus OppLoans reviews from real customers

The Good

  • Customer Service
  • Quick, Easy Process
  • No Credit Check 
  • Resources & Tools

Customer Service

With OppLoans, customers will find friendly, courteous, pleasant representatives who are more than willing to help. Customers rave about the ease of working with OppLoans customer service; the overwhelming sentiment is that the company makes the entire application and approval process smooth and easy, and the representatives make customers feel comfortable and valued. There's also a common feeling that the company's staff members know their stuff and can answer just about any question. If they don't know the answer, they're happy to find someone who does.

Many payday lenders don’t even offer human-based customer service, preferring to be strictly online lenders, with no human contact. With OppLoans, you can email [email protected] or call 800-990-9130, 7 days a week Monday-Friday, 7 a.m.- 10 p.m. and Saturday and Sunday between 9 a.m. – 4 p.m. Central Time for assistance.

Quick, Easy Process

Applying for a loan doesn't have to be a pain, nor does it have to take weeks and weeks to complete the process and receive your loan money. With OppLoans, it definitely won't be this way. Potential customers can apply online in a matter of minutes and receive approval in a reasonable amount of time. Funds can be transferred by the next business day to your checking account or sent in the mail via check. 

No Credit Check

OppLoans specializes in fast, simple loans without a hard credit check with the traditional credit bureaus. This means that your credit report won’t be affected by your application. 

In addition, borrowing with this lender can help you build or rebuild your credit. OppLoans does report to the three major credit bureaus (Experian, Equifax, or TransUnion) as you repay the loan. So, on-time payments can help improve your credit score. On the flip side, please remember that if you fail to meet the repayment terms of your installment loan, it may affect your FICO score negatively. 

Additionally, there are no prepayment penalties—meaning that if you pay off the loan early, it can only help you. There are no fees or added interest. 

Resources & Tools

To promote long-term financial wellness, the lending platform offers free educational resources through a section of their site called OppU. These include interactive courses on a variety of topics including money management, budgeting, saving, understanding credit and credit history, debit and credit card basics, and debt reduction. 

It's commendable when loan companies recognize that users in need of a short-term loan may have bad credit now, but with more education, can take charge of the financial future.  

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The Bad

  • Limited to One Type of Loans
  • State Restrictions

Limited to One Type of Loans

While this is a great alternative to predatory lenders, customers who are in the market for home loans, home equity loans, car loans, student loans, debt consolidation loans, or any other type of loan besides a personal loan will have to keep looking, because OppLoans only offers personal loans.

State Restrictions

OppLoans doesn't offer loans in all 50 states. The lender's service area is limited to the following states: 

  • Alabama
  • Alaska
  • Arizona
  • California
  • California
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

So, if you don't live in those states, OppLoans can't approve you for a loan. 

The Bottom Line

It's difficult to imagine a lender with a more favorable customer view than OppLoans. The common sentiment is that the company's customer service is off the charts and the loan application process is a piece of cake. 

On top of that, not many bad credit loans, installment loans, or payday loans can help you rebuild your credit score with the major credit bureaus as you repay your loan—even if you perfectly keep to your loan terms. OppLoans does. 

This lender is definitely recommended for consumers in need of the short-term financial assistance a personal loan offers, especially if they have less-than-perfect credit. Although OppLoans has fairly high interest rates, they are very low compared to others in the payday lending world. Additionally, those in the market for other types of loans will need to look elsewhere.

Disclaimer

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All user reviews posted on Best Company are subject to screening and approval. We reserve the right to approve or deny any review posted to this site in accordance with our Review Guidelines. Best Company never suppresses user reviews—unless they are being investigated for authenticity, or if they violate our review guidelines. We encourage anyone who suspects a user review to be fraudulent or intentionally inaccurate to please notify us here.


User Reviews

Star Rating

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93 Reviews

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Anthony Burke
June 13th, 2019 Apache Junction, AZ DETAILS
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I was trying to pay some of the loan off, but was told i couldnt do that. i had to pay the payment first. so if your looking to pay your loan off with them you can forget it. wish i never

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S.E.
May 24th, 2019 Houston, TX DETAILS
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Qiana in the payment department was extremely professional and helpful. I really appreciated her willingness to help me resolve my account concerns.

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liz
May 24th, 2019 Beaverton, OR

customer service is excellent, Carly was very professional and made the whole application process very easy and fast. she made me feel very comfortable and inspired my trust. I am very happy my loan got approve.

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Kendra
May 20th, 2019 Pompano Beach, FL DETAILS
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This company makes it very hard for you to refinance. Not again.

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Chris
May 6th, 2019 Phoenix, AZ DETAILS
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Overall great customer service. Application process what very simple. Response time was quick. I got approved for 4500 initially, definitely did not need that much to borrow. Requested 700. Loan repayment is very easy as it is automatically deducted. I refinanced once so far. May do it again later for a much larger sum.

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Katelynn
May 2nd, 2019 Cincinnati, OH DETAILS
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luis is great and definitely did great with helping me get my payment dates changed due to a new payday schedule he definitely went above and beyond!

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Andy
May 2nd, 2019 Miami, FL

People are very polite especially Janet. The aplication is very easy and the financial manager is great. Thanks George.

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Rose
May 2nd, 2019 Yuma, AZ DETAILS
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Saved me when I needed the help most! Paying back was easy & never missed a payment due to having it deducted automatically.

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paula ayala
May 2nd, 2019 Las Vegas, NV

Abraham was a very great agent was able to guide me and help me complete my application.

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Paul
April 17th, 2019 La Verne, CA DETAILS
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Had the pleasure to speak to Keyon about behind on my payments and she was outstanding and did a great job to get it resolved and settled everything up Outstanding company and personal

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Judy
April 5th, 2019 Belleville, IL DETAILS
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Very professional company. Karen made the process easy!

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Jennifer Richardson
March 28th, 2019 Lisbon, ME

I just applied with this company and I had to opportunity to speak with Tiffany who was wonderful. I appreciated all the time she spent with me and how she answered all my questions. When I asked her about some situations that I read on the review page she was very honest with me by telling me everyone's circumstances are different. I did not think of it that way. Thank you Tiffany! You rock! I will leave a final review after all my transactions go through. Thank you!

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P Fields
March 27th, 2019 Riverdale, IL DETAILS
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I would never recommend this company. I got my loan which was great but I paid it off after the very first payment actually I paid it off before the first payment came out. A couple of days before the first payment was scheduled to come out. They still took the first payment out. It has been going on 3 weeks now that I requested for my money back they have not refunded me my money. Then they tell me oh you shouldn't have paid the whole loan off if a loan it's supposed to be paid back that's what I did. It stated in the contract you can pay it off ahead of time without penalties that's what I did. However now my account is overdrawn because they refusing to put the money back they claim they're doing it but three weeks after person asked you to do it makes no sense. Then they get nasty on the phone with you because you asking for your money back had the nerve to tell me what you know if you want the money back quickly you can take out another loan. The strong arm and a person I'm going to wait this out and I'm going to sue their asses for everything that bounced because they took out that extra payment. Then they tell me oh you should have called us when you was making your payment but when you call them it says we do not do loans over the telephone so what would make me think of anyone think the pay it back that they would do it over the telephone. I will never use opploans again. I have you other companies and have gotten loans and pay them back very quickly to minimize my expenses. This is the only company that I ever dealt with that tells you it's going to take 12 to 15 days to refund something when it only takes 24 hours for them to put the money in your account. People be very very leery of this company is not what It Seems

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helen collins
February 14th, 2019 Skokie, IL DETAILS
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I had a great experience with opploans Monique made my experience even that much better as she patiently walked me through the process.

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Richard Keller
February 14th, 2019 Bangor, MI

I dealt with a very helpful and wonderful woman named Monique. Monique was professional, courteous and friendly throughout the loan application process. She was quick to answer any questions or resolve any issues that came up. She was willing to go above and beyond to help me which made it a very refreshing and positive experience. I'd highly recommended her to those looking for guidance during the loan process!

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Shayna
February 14th, 2019 Louisville, KY

Monique was very helpful and friendly. She stayed on the phone to help me get through the process and quick helping me with any trouble I was having.

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Susanne
February 6th, 2019 Wheaton, IL DETAILS
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Monique was very helpful and quite pleasant to work with!

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Ray M
January 15th, 2019 Park City, UT DETAILS
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Bad customer service, incompetent and inconsistent. The first loan of $2k few months ago was fast, easy and smooth. I did it online. I paid off that loan few days ago and decided to reapply because I had an emergency. I did it again online and they only approved $1500 initially. Since I had a little problem with my direct deposit from my job and I explained to the customer service to no avail. I sent my other latest paycheck from my other job that has a direct deposit. She also required me to submit my income for 2018. And take note, my two latest paychecks from my two jobs have a total earnings of around $3100 in two weeks of working! She also mentioned that I have the option to wait on the 25th for my other job's direct deposit but still they denied my application. It was actually a lie and very unprofessional. I am working in hospitality industry for so many years and these guys need more training about customer service. I dont normally write reviews online but the management should know what is going on. They cannot get any business from me anymore

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Vedia
January 10th, 2019 Darlington, SC

I was a little afraid of OppLoans but Monique put me at ease and even called me to let me know everything was okay. She was great.

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Lamont Hall
January 9th, 2019 Saint Paul, MN

I appreciated Monique Patients with me even on the phone she sounded like she had a smile on her face👍

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TB
January 3rd, 2019 Athens, AL DETAILS
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Monique took the time to process my application and within 1 hour, she had already followed up with a phone call to inform me that I was approved. Great job!

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Alister H Daniels
January 2nd, 2019 Winlock, WA

Very friendly and fast! Monqie was helping through the whole process and answered evry question i had!

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Gina hernandez
December 11th, 2018 Chicago, IL

Quick and easy to apply very clear on what you need and they need , got approved in less than 24 hours I’m so happy Jacinthia referred me !she provided Great customer service and very knowledgeable.

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LaToya B
November 29th, 2018 Inkster, MI

Karen was amazing and very knowledgeable. I was nervous about the process but Karen made the process not only easy but fun . I recommend Opp Loans to everyone and will be referring my family and friends. Thanks again Karen! :)

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LaToya B
November 29th, 2018 Inkster, MI

Karen was very professional and knowledgeable. Thanks so much Karen for helping me.

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Ron
November 27th, 2018 Euless, TX DETAILS
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Monique was friendly, courteous and professional. I've used the refinance option on more than one occasion and it's been a great help

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Yusuf
November 9th, 2018 Saint Paul, MN

Anna was extremely helpful and clear with answering my questions and was able to lower my financed amount to my request to accommodate me. I was pleased by the surprisingly quick and easy application process. Thanks Anna / Opp.

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Ariel First
September 5th, 2018 Hazelwood, MO

Very good and easy way to fill out for your request.

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MD
August 13th, 2018 Waveland, MS DETAILS
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I had an account that I had two more notes to pay. They sent emails to refinance and I was trying. I did the same process for four consecutive days. I would get the same message and even had my account showing the new notes, finance charges and everything that goes along with it. I never received the money. Four days kater, I was still waiting because every day I had to sign. I had to sign even though I spoke to someone twice and they made sure every thing was done. I received emails telling me thank you. It was ridiculous.

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Jacqueline Thompson
July 5th, 2018 Boligee, AL

Thanks to Amy this process ended better than it started. She was patient and she knew what she was doing and that made it easy for me to complete this process. Thanks Amy

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Kisha McKinney
March 28th, 2018 Savannah, GA

The application process was very easy and staff very polite and more than helpful in assisting with the application process.

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Darlene Smith
March 12th, 2018 Xenia, OH DETAILS
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This is a very reliable company and has excellent customer service skills. Faith is one of their customer service agents and is very professional and has top notch Customer skills. Actually all of their people I have talked to are great! Paying them back is easy. I highly recommend OppLoans to everyone.

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April A
January 25th, 2018 Blue Island, IL DETAILS
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Shana was the best, she was very professional and willing to assist and answer all my questions. Opp Loans have excellent finance charges and rates. My experience was hassle free, funds were credited to my account the next day. Thank you Shana for your excellent customer service and making this experience comfortable for me:)

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Natalia
January 23rd, 2018 Palos Park, IL

Jacynthia was very pleasant and answered all my questions. Her positive upbeat attitude made the process a breeze. Thank you!

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michael blanton
January 8th, 2018 Los Alamos, NM DETAILS
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Great customer service. Almost no waiting time to speak to very helpful people. Application and approval went very smooth. I am a new customer and very pleased with their service.

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Bianca Stinnett
January 8th, 2018 Henderson, NV DETAILS
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Dan was excellent! He was able to answer all of my questions, and not only that he was able to help me with my application due to an issue with my bank account. Thank you Dan for being so friendly and willing to help me!!!

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Terri B.
January 8th, 2018 Dover, DE

The customer service representative I spoke with was very helpful and fixed my mistake right away.

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Deborah Clark
December 29th, 2017 Brazoria, TX DETAILS
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Tiffany was very helpful and patient while walking me through my forms! She was also very informative!!!

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Deborah Wilson
December 29th, 2017 Vista, CA

My agent is Daniel. He and everyone else I spoke to was friendly, helpful, fast and informative. I highly recommend Opp loans

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Cynthia McComb
December 21st, 2017 Cedar Hill, TX DETAILS
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very fast and very friendly would recommend

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Shamarilyn D York
November 30th, 2017 Houston, TX DETAILS
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My experience with Opp Loans has been really good. And today I needed to see if I could get a possible increase to assist with paying a few things. I was approved for an increase which will help and the customer service provided by Karen was great! She exceeded my expectations by calling back to make sure I was able to log on since I was having difficulty at first.

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Jess Garcia
November 28th, 2017 Stockton, CA DETAILS
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Kenny was a great help! Fast, efficient and helpful. Was easy to understand the process! Thank you

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Earl Stewart
November 15th, 2017 Albany, GA

quick and short great customer service people giving assistance to help make everything go smoothly thanks so much for MsTara for being so helpful to make sure I had everything in order to make everything was correct

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mary padua
November 14th, 2017 Cicero, IL

GREAT CUSTOMER SERVICE AND FAST RESPONSE. WOULD HIGHLY RECOMMEND THEM.

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Michelle Stolp
November 10th, 2017 Dallas, TX

From application process to funding, someone was always in contact with me. I would DEFINITELY recommend these guys!!! EXCELLENT CUSTOMER SERVICE !!!

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Sandra Graves
November 7th, 2017 Leesburg, VA

TOTALLY AWESOME!!! OppLoans was a life saver with helping me catch up the rent. The monthly payment is less than half what I'm having to pay CashNet USA bi-weekly! I wish I'd know about OppLoans sooner, I don't even want to think about how much money they could've saved me over the past year! The customer service reps were great and I love the fact that, after you make your menu selection, you get a real live person! Keep it up!!!

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Liz Wallace
November 6th, 2017 Webster, TX DETAILS
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Quick Loan approval process and great customer service.

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cassandra y hurd
November 6th, 2017 Chicago, IL DETAILS
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I want to thank opploan for taking the time to approve me with out having a problem and they also refinanced my loan.

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Anastasia
November 1st, 2017 Arlington, VA DETAILS
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I had a very positive experience on all three borrowing occasions! Really appreciate the friendly Chicago customer service center (I think the gentlemen's name was Dan -- many thanks for the processing assistance!!!!)

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George B Crawford
October 31st, 2017 Peoria, IL

Customer service group is excellent. The loan application was simple, direct and promptly completed. Email, text and phone contacts were well above expectations. Need a loan ? Bruised credit? Great credit and a quick response turn-around needed? Get online and find these folks !