error This company may not service all states.

OppLoans are offered by Opportunity Financial, a Chicago-based lending company that specializes in offering unsecured personal loans to consumers.

Founded in 2012, OppLoans 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 unsecured loans for people with poor credit. Loan amounts range from $500 to $4,000. Your state of residence determines whether you are eligible for OppLoans lines of credit or installment loans. The brand's loan products are billed as a lower-cost alternative to predatory payday loans.

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.

Loans applied for through the company's online platform will be originated through FinWise Bank or Opportunity Financial, LLC, depending on your state of residence. Even if FinWise funds your loan, you will still be serviced through opploans.com. 

Borrower application requirements include:

  • Residence in an available state
  • 18 years old—19 in Alabama and Nebraska
  • Regular income
  • Checking or savings account
  • Receive paychecks to your bank account 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 
  • Lower Interest Rates
  • Longer Repayment Terms
  • Financial Resources and Tools
  • Refinancing for Eligible Customers

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.

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Customer Review: Bobby Simpson from Georgia

"OppLoans has been a great company to deal with. I have never had any negative correspondence with any of the customer service personnel and they have been a blessing to me financially. There when you need them. Great rates, definitely a great company to get a loan from."

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 an installment loan online doesn't have to be a pain, nor does it have to take weeks and weeks to complete the application 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. It uses an alternative credit reporting agency to assess applicants' credit factors. This means that your credit report won’t be affected by your application. You can get a loan offer without consequence to your credit. 

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. 

Lower Interest Rates

While OppLoans lending rates are still high, they are some of the best in the short-term and payday lending industries.

If you have a good credit score and you need cash, you can get a traditional loan, apply for credit cards, or access other traditional forms of credit by meeting lenders' minimum credit requirements for standard long-term loans.

If you are unscorable, have a bad credit score, are rebuilding your credit, and aren't a member of a credit union with a PAL product or service opportunity, you may have to look for alternative loans. That's when high-interest loan options come into play.

The annual percentage rate (APR) of OppLoans products is between 99–199%, while payday lenders average over 300%. So, the cost to borrow bad credit loans is high, but it's higher with most other competitors. 

Longer Repayment Terms

In addition to lower interest rates, this financial institution offers much longer repayment terms than traditional payday loans carry.

Typically, payday loans, also known as a cash advance, payday advance, and short-term loans; these loans are meant to be repaid by your next payday. Borrowers have to pay back their loan quickly. With installment loans, payment terms can last up to three years, for a lower-stress, more manageable repayment process. 

Financial Resources and Tools

To promote long-term financial wellness, the lending platform offers free educational resources through a section of its website 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
  • 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. 

Refinancing for Eligible Customers

OppLoans personal installment loans offer refinancing to eligible current borrowers. If you are eligible, there will be a 'Refinance Now' button available on your online account. 

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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 other financial services like 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.

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User Reviews

Star Rating

4.5
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178 Reviews

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Shayna

February 11th, 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 4th, 2019 Wheaton, IL DETAILS arrow_drop_down
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Monique was very helpful and quite pleasant to work with!

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Ray M

January 14th, 2019 Park City, UT DETAILS arrow_drop_down
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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 9th, 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 7th, 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 arrow_drop_down
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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

December 27th, 2018 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 very professional and knowledgeable. Thanks so much Karen for helping me.

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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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Ron

November 20th, 2018 Euless, TX DETAILS arrow_drop_down
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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 3rd, 2018 Hazelwood, MO

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

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MD

August 11th, 2018 Waveland, MS DETAILS arrow_drop_down
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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 2nd, 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 27th, 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 arrow_drop_down
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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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January 25th, 2018 Blue Island, IL DETAILS arrow_drop_down
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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 22nd, 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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Bianca Stinnett

January 5th, 2018 Henderson, NV DETAILS arrow_drop_down
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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 5th, 2018 Dover, DE

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

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michael blanton

January 5th, 2018 Los Alamos, NM DETAILS arrow_drop_down
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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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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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Deborah Clark

December 29th, 2017 Brazoria, TX DETAILS arrow_drop_down
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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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Cynthia McComb

December 20th, 2017 Cedar Hill, TX DETAILS arrow_drop_down
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very fast and very friendly would recommend

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Shamarilyn D York

November 29th, 2017 Houston, TX DETAILS arrow_drop_down
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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 arrow_drop_down
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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 14th, 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 13th, 2017 Cicero, IL

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

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Michelle Stolp

November 9th, 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 6th, 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 5th, 2017 Webster, TX DETAILS arrow_drop_down
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Quick Loan approval process and great customer service.

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cassandra y hurd

November 3rd, 2017 Chicago, IL DETAILS arrow_drop_down
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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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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 !

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Anastasia

October 23rd, 2017 Arlington, VA DETAILS arrow_drop_down
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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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Hope Smith

October 19th, 2017 Chicago, IL

Opploan took away the anxiety of getting emergency funds. Everything was handled with professionalism and within 24 hours. I recommend this business to meet any urgent need.

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Duane McCOLLUM

October 17th, 2017

Alex was extremely helpful in assisting me with your processes. He exceeded my expectations!

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RAMONA GRAY

October 12th, 2017 TX

very professional and knowledgeable about how process is done!!!

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Charles Shobe

October 9th, 2017

The lady who took my information was excellent in helping me. The loan was placed into my bank even before I thought. Though I know that the interest rate is high, I support capitalism as opposed to socialism.

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LeNita Cooks

October 6th, 2017

Greg, Was a Great help today and Very Professional Thank You !

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K Mason

October 5th, 2017 Grayslake, IL

Alexander was professional, efficient and kind during the process.

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Sanders Morgan

October 3rd, 2017

Tara answers all my question and she made me feel very comfortable.

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Daniel Musgrove

October 3rd, 2017 Bell, CA

Received a loan that was done very quick and very easy. Excellent customer service from Dan.

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Joe M Barrientos

September 20th, 2017

My rep "Antonio" was patient and wonderful! I wasn't even concerned on the process of approval towards the end of the conversation due to his professional attitude and pleasent smile u can hear over the phone. Great Job

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Tom Fairweather

September 15th, 2017

Alex was very professional and courteous.

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Joe

September 13th, 2017 Jackson, MS

Not really happy with the payback amount or bi-weekly high payments, but if your needing the money I'd recommend them, and the costumer service was hands down great

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Brandi R

September 12th, 2017 Roseland, NJ

Lance - was a great help this morning. I appreciate his assistance!

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K

September 11th, 2017 Bristow, VA

I spoke with Shellie and she was fantastic and very professional!

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LeticiaWatson

September 11th, 2017

Char was very helpful and professional. I appreciate the service!

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Kyndrall Lewis

September 11th, 2017

Lance was very helpful and called me back with my approval.