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OppLoans Review StaffJul. 31, 2019

In a Nutshell

OppLoans is a direct lender that provides personal loans to borrowers who have less than perfect credit, giving them an opportunity to improve their credit score in the process. It offers unsecured loans that have very few restrictions on what they can be used for.


  • No minimum credit score needed
  • Quick and efficient approval process


  • Only available in 19 states
  • Maximum APR can be as high as 160%

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OppLoans at a Glance

Loan types
Multi purpose personal loans
Loan amount
$500 to $4,000
Repayment terms  
9-24 months
99% - 160%
Best for
People looking to improve their credit score


OppLoans, also known as Opportunity Financial, LLC, is an online lending platform that provides a range of consumer credit products. It is a direct lender that, depending on your state, provides loans or line of credit products to people who have less than perfect credit, giving them an opportunity to improve their credit score in the process. 

Best For?

You can borrow up to $4,000, and the interest rate that you will be charged will vary from 1 state to another. Best of all, OppLoans makes loans available to borrowers with less than perfect credit, giving them an opportunity to improve their credit score by taking the loan. The application and approval process with OppLoans takes just minutes, and you can receive the funds as soon as the next business day. That means that a consumer credit product from OppLoans can be equivalent to a payday loan in speed, but at a much lower APR than what a payday lender would charge.

Loan Features

OppLoans currently offers 2 consumer credit products: personal installment loans and lines of credit. The credit product you are eligible for will depend on which state you live in.

OppLoans currently offers or arranges installment loans in Alabama, California, Delaware, Georgia, Idaho, Illinois, Kansas,  Maine, Maryland, Mississippi, Missouri, New Mexico, Ohio, Rhode Island, South Carolina, Texas, Utah, Virginia and Wisconsin.

OppLoans offers line of credit products in Kansas, Tennessee and Virginia. 

Loan Application Information

With OppLoans the entire application process takes place online - there is no need for a face-to-face meeting like the kind you have to have with a bank. But at the same time, OppLoans provides a team of loan advisors and acclaimed customer service representatives to help guide you through the process. 

OppLoans requirements:

  • Applicants must be at least 18 years old
  • Have a stable income
  • Take home at least $1,500 per month
  • Have a direct deposit capability with your bank account
  • Live in one of the 19 states where OppLoans lends

Documentation requirements can include (but are not limited to) a copy of your driver's license, and information to document your employment and income. There are no application fees required in order to apply with OppLoans, but an initial fee may be charged in some states in addition to loan interest:

  • California: $75 administration fee
  • Kansas: $40 origination fee

Repayment Terms

Specific repayment terms can vary from 1 state to another, ranging from between 9 months and 24 months.  OppLoans also offers an opportunity to set up your payment plan based on bi-weekly payments. You can set up your payments to work through payroll deductions, but with OppLoans you can also have an ACH debit established so that the payments can be paid automatically through your bank account. There's no need to write a check and have to mail it to a remote address for payment. You can always repay early, and there is never a prepayment penalty fee.

Help & Support

You can contact OppLoans by direct mail, or by email through the website. Customer support is also available by toll-free phone. You can reach them Monday through Friday, from 7am to 7pm, CT, on Saturday from 9am to 4pm, and Sunday from noon to 5pm. There is also an FAQ page on the site that will provide answers to many of your questions. OppLoans is also active on social media through Facebook, Google+, YouTube and Twitter.

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OppLoans is an excellent funding source if you have less than perfect credit and normally borrow through payday loan sources. Loans can be up to $4,000, are unsecured, and offer you an opportunity to improve your credit score when you make your payments on time. It is a perfect product for you to reestablish your credit after having experienced a period of financial difficulty.

Physical Address

Opportunity Financial

11 E. Adams Street, Suite 501

Chicago, IL 60603 StaffJun. 24, 2019
Our editorial staff is comprised of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right personal loan provider for your needs.