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OppLoans Personal Loans Review 2023

Find the Best Personal Loans for You

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Loan Amount
Min. Credit Score
Learn More
Loan Amount
Min. Credit Score
Learn More
Loan Amount
Min. Credit Score

How Can OppLoans Personal Loans Be Used?

OppLoans offers personal loans that can be used for several purposes, including:

  • Car repairs.
  • Household expenses.
  • Paying rent.
  • Medical expenses.
  • Major purchases.
  • Consolidating and paying off other loans.

OppLoans doesn’t list any restricted uses of its personal loans.

How Do OppLoans Personal Loans Work?

You can apply online as long as you meet the requirements below:

  • Be 18 years or older.
  • Have a bank account.
  • Reside in one of the states in which OppLoans operates.
  • Have a regular source of income.
  • Receive income through direct deposit.

Once you approve the offer, your funds may be deposited as quickly as the next business day.

What Are OppLoans’ Terms, Fees and Conditions?

OppLoans personal loans range from $500 to $4,000, depending on the state. Annual percentage rate ranges from 59% to 160%. The maximum repayment term for a personal installment loan is 18 months.

Individual loan interest rates and repayment terms are determined by the state in which the loan originates. OppLoans does not charge a prepayment penalty for repaying a loan early.

How Can You Qualify for an OppLoans Personal Loan?

There is not a required credit score for approval. Borrowers will need to be 18 years or older, have a bank account, have a regular source of income, receive income through direct deposit and live in one of the states that OppLoans services.

What Credit Score Do You Need?

While no minimum credit score for approval is disclosed on the company’s website, OppLoans personal loans are designed for borrowers with poor or bad credit.

Where Does OppLoans Operate?

OppLoans offers loans to all states except Colorado, Connecticut, Illinois, Iowa, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, South Dakota, Vermont and West Virginia. OppLoans has branch locations in Illinois and Nevada.

Is OppLoans Reputable?

OppLoans has an A rating with the Better Business Bureau. It also has an excellent 4.6 out of 5 stars rating from over 3,500 reviews on TrustPilot.

The Consumer Financial Protection Bureau received 12 loan-related complaints in 2021 about Opportunity Loans LLC, most concerning unexpected fees. Each received a timely response and closed with an explanation.

How Is OppLoans’ Customer Service?

You can email OppLoans at [email protected]. You can call their Chicago office at 800-990-9130 Monday through Friday from 8 a.m. to 12:30 a.m. Eastern Time, or Saturday and Sunday from 10 a.m. to 6 p.m. ET. You can also contact their Nevada office at 618-433-3475 Monday through Friday from 8 a.m. to 12:30 a.m. ET, or Saturday and Sunday from 10 a.m. to 6 p.m. ET.

What Are Some of OppLoans’ Online Features?

Borrowers can apply for a personal loan with OppLoans online. There is a soft credit check, which does not affect your FICO credit score. Borrowers must verify their bank account as part of the application process, which can be done securely online. Loan details and payments can be viewed and scheduled through an online account.

  • People who have poor or bad credit.
  • People who need to borrow $4,000 or less.
  • People who need loan funding quickly.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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