43 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

  • Fast funding
  • No credit checks
  • Refinancing options available
  • Small loans paid on time can help increase credit score

Review of OppLoans


  • Personal loans from $500 to $4,000

  • APRs between 59% – 99%

  • Personal loans, bad credit loans, and no credit check loans

  • Loans are funded in 1-2 days

What Is OppLoans?

OppLoans provides personal loans as an alternative to payday loans. They offer short-term installment loans from Opportunity Financial (OppFi).

OppLoans started offering loans in 2012 to borrowers who experienced financial difficulty offer the 2008 financial crisis.

Chosen 6,422 times
  • Fast funding
  • No credit checks
  • Refinancing options available
  • Small loans paid on time can help increase credit score

Who is OppLoans For?

Opploans are ideal for borrowers in a tight spot, needing a quick way to finance a purchase or get emergency cash.

OppLoans offers a consumer-friendly alternative to short-term payday loans or cash advances for borrowers with bad credit.

However, expect interest rates on the higher side compared to personal loans no matter your credit score.

Also, unlike payday or title loan companies, OppLoans reports your payments to all three credit bureaus, so payments will show up on your credit report. If you make your payments on time, your credit score will gradually increase.

This can make it easier to qualify for a lower-rate product in the future, like a traditional personal loan.

Products Offered

OppLoans offer short-term loans with no credit check requirements.

Their loan offers include:

How OppLoans Work

OppLoans is different from payday loans because OppLoans offers longer terms, lower APRs, and higher loan amounts.

Additionally, OppLoans specializes in providing a personalized loan service. These personal loans are designed to help consumers who want to build or rebuild their credit.

Funds from approved loans can be deposited in the borrower’s account in as little as one business day. Borrowers do not undergo a credit check although APRs can be as high as 160%.

Instead of paying back a loan in one lump sum, which is usually the case with payday loans or cash advances, OppLoans offers personal installment loans.

This means that loans are repaid in regular monthly payments.

Loan Requirements

Applying for a personal loan typically involves prequalifying for a rate, submitting a formal application and awaiting loan approval. 

Here are the loan requirements when applying for an OppLoans loan:

  • Be at least 18 years old.
  • Be a U.S. citizen.
  • Have an active bank account that accepts direct deposits.
  • Have a regular stream of income.
  • Have a valid contact number and an active email address.
  • No minimum credit score is required.


How long does it take to get a loan paid out by OppLoans? This will depend on the time your application was approved.

You will receive an email notification once your loan is approved.

  • Monday to Thursday: If your application is approved before 8:00 PM CT Monday through Thursday, you can expect your funds the next business day.
  • Friday: If your loan is approved before 8:00 PM CT on Friday, you can expect your funds on Monday.
  • Friday to Sunday: If your loan is approved after 8:00 PM CT Friday, until Sunday, expect your funds to be paid on Tuesday. If your approval day or deposit day happens to be a bank holiday, please allow for an extra business day of processing.

The exact time of funding depends on when your bank will post the ACH (Automated Clearing House) credits to your bank account. If you experience a delay, please reach out to your bank directly.

Rates & Fees

The maximum APR from OppLoans is 160% and loan amounts range from $500 to $4,000. As an example, a borrower with a credit score of 550 and earning less than $45,000 a year, takes out a loan of $1,400 with an APR of 140%.

The repayment term of nine months would carry a monthly payment of $259, interest of $943, and a total amount due of $2,335.

Payment Terms

The repayment term for OppLoans is up to two years. Although borrowers may not choose their payment due date, they may be able to change the date.

How OppLoan Compares

Here are a few similar loans like OppLoans below:

CompanyLoan Amount
PersonalLoans.com$500 – $35,0005.99-35.99%3 Months – 6 Years
BadCreditLoans$500 – $5,0005.99-35.99%10 Days – 2 Years
CashUSA.com$500 – $10,0005.99-35.99%3 Months – 6 Years
Fast5KLoans$500 – $35,0005.99-35.99%6 Months – 5 Years
5KFunds$100 – $35,0005.99-35.99%61 Days – 6 Years

How To Apply for a Loan with OppLoans

Step 1

Visit the Website

All applications are handled online. Applying for a loan with OppLoans will not negatively affect your credit score

Step 2

Enter Your Information

In order to apply for a loan, consumers will need to enter information about themselves, their work, and their finances. They will also have to provide proof of their bank account.

Step 3

Get Approval

The online application can be completed in just a few minutes, with applicants typically receiving a loan response quickly. Once approved, you can log into your account through the OppLoans login feature.

Chosen 6,422 times
  • Fast funding
  • No credit checks
  • Refinancing options available
  • Small loans paid on time can help increase credit score

Our OppLoans Review

In our opinion, OppLoans should be used only in the case of an emergency when other alternatives have been exhausted.

OppLoans offer short-term installment loans to their customers. This is often conducted without a credit check.

Their installment loans come with a very high APR limit of 199%. This can make it very difficult to pay back any money borrowed.

If you are in desperate need of immediate funds try our online lending tool. It allows you to compare alternative options before making a final decision.

Read more OppLoans reviews from customers below.

Compare personal loan rates here

OppLoans has more than 500,000 customers. Based in Chicago, OppLoans offers fast payment installment loans in the following states:

In addition, OppLoans offers a line of credit product in Kansas, Maryland, Tennessee, and Virginia, and has an A+ rating with the Better Business Bureau.


Although OppLoans has an A+ rating with the Better Business Bureau they have very mixed reviews online. Some of this will be associated with high APRs ranging between 59% and 199%.

One area they do thrive in is their customer service team.

Their opening hours are from 7 am – 11:30 pm on Mondays to Fridays, making it easy to speak with a representative.

They do not offer an early settlement reduction fee with their loans.

That means if you have the money to pay off your loan earlier than your term suggests you will still owe the full amount of interest.

Website and Functionality

Based on our experience and the customer feedback we have received the OppLoans website is somewhat clear and direct within the first few pages.

It is however very busy and makes it hard to dig through a lot of information to find out clearly how it all works and what a customer really needs to apply.

How OppLoans Compares

The best personal loans are those that offer competitive rates, a wide range of terms, and flexible loan amounts.

Here’s how OppLoans personal loans stack up against other popular lenders:

OppLoans vs Upstart

Upstart targets customers with credit scores of at least 600 and offers personal loans from $1,000 to $50,000.

Upstart also offers longer terms of up to five years, where as OppLoans offers terms only up to 18 months. If you have a credit score of at least 600, Upstart may be a more affordable option.

OppLoans vs. Upgrade

OppLoans and Upgrade cater to borrowers with damaged credit. If you qualify for an Upgrade loan, you may be able to receive larger loan limits of up to $35,000.

Upgrade also offers longer terms, with loans up to seven years. How much money you need to borrow and how quickly you want to repay it typically determines the best provider.

Does Financer.com Recommend OppLoans?

Most people at some point are going to need financing.

OppLoans are a high-interest short-term lending company, that could be considered as a last resort borrowing option.

Is OppLoans legit? They are legitimate and have had thousands of people use them over and over again.

Financer.com would recommend researching alternative lending options before committing to borrow.

Compare loan rates here.

By reading OppLoans reviews, consumers will gain a better idea as to what to expect from loans originated by OppLoans in order to determine if this particular lending solution is right for their needs.

OppLoans – FAQs

How long does opploans take to approve

Your loan will typically be paid the next business day. If your loan is approved on a weekend, it means your funds may only be available the following Tuesday.

Where can I get loans like OppLoans?

There are many lenders that offer loans like OppLoans, where you can apply for a personal loan online and get your funds the same day, or the next business day. Examples include 5KFunds, CashUSA, and BadCreditLoans

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Reviews of OppLoans

OppLoans is rated 87 out of 300 companies in total rating and got an average review score of 2.7 based on 43 reviews. Their weakness is Interest & Costs and their strength is Website & Functionality.
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Dan reviews | October 3, 2022
General Review
I got approved for a loan that I’ve been making payments on for about almost a year now, no late payments, I tried to Re- finance my loan and they denied me even though I have made no Late payments and my account has always been up-to-date usually good paying history allows you to be able to do so ...every company except for this one.. I’m paying my loan off and never using this company ever again I’m gonna go somewhere where they appreciate their customers
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Ninya Mason 1 review | August 15, 2022
Personal Loan Review
Nothing good to say about this company.
Opps Loan is a rip-off. Extremely high interest rates and charge interest daily even on weekends when they aren’t even open. I recommend no one to take a loan out. I’m disappointed in their service scamming hardworking people out of their money.
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Russell Padgett 1 review | July 22, 2022
General Review
Most times I wonder if DEXFRAME CREDIT REPAIR have the slightest knowledge of how through their outstanding credit repair services, I turned my mind off committing suicide. I could not think less of suicide after my ex-wife secured a divorce and its aftermath was a terrible experience of financial crisis which made it difficult to pay off my loans and multiple credit cards bills. My credit score was ruined. DEXFRAME and his team were the GAME CHANGER; they restored my credit excellently, raised my credit score to 785, my debts were paid off, all derogatory marks and negative items were deleted. No better way to appreciate DexFrame than making this review available to Americans. Contact: DEXFRAMECREDITREPAIR@GMAIL.COM
None really, check what works for you.
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Nick Sancez 1 review | July 18, 2022
General Review
Great and fast.. Waiting on backpay and this company came through..
Interest is high but based on bad credit and no credit check I think it's fair game..
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Anna Hamilton 1 review | July 14, 2022
General Review
They were decent until December 2021.
High interest but really not a secret. The main CON is the change in the loan process in 2022- you used to sign the application and by the end of the business day, you had the decision. Now, days on end and nothing. They keep asking you now to submit your pay info multiple times (never a requirement before) and the main one is NO CUSTOMER SERVICE. I called 4 different times and on hold over 30 minutes and I finally just withdrew my application. I even wrote customer service and they said someone will be with me. THEY NEVER PICKED UP THE PHONE AND CALLED ME...O,h, well as saved me 1,500 in interest!
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Sydney Portis 1 review | December 8, 2021
General Review
None to talk about.
They have always denied me and never gave a reason why
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Simone Florio 1 review | April 9, 2021
Personal Loan Review
good loans fee
too slow for me
Post reply
Patrick Cadette 1 review | April 8, 2021
General Review
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courtney_kinney 1 review | March 15, 2021
Personal Loan Review
Not a thing!
DO NOT TRUST! This company is horrible. I was shocked with how they ran their company. I don't understand why they would take you through the process of signing a promissory note and then they make a decision. After I proved my income 2 ways they said because it was a check that I deposited manually at a bank instead of being direct deposited I wasn't approved. I proved my income through legal paperwork and monthly bank statements. The worst part was that they asked for all of my paperwork just to deny me on my original information that I gave. I gave a truthful estimate of my income, they verified my bank and only after I verified my income through sending in a legal document then they denied me, after they had all of my personal info. This makes no sense and after speaking to multiple people they put the blame on me. My income qualified me, but it didn't because it wasn't direct deposit. I'm glad I wasn't approved because the outrageous interest rate is extremely unethical. I feel bad for the employees and supervisor because they have no idea why the business is ran the way it is and could not offer an excuse except to say it was their policy. The supervisor had a faulty phone she was trying to speak on and turned out to be a waste of an hour of my time.
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Tracey Reynolds 1 review | January 29, 2021
General Review
Very pleasant on phone
Kept sending emails saying to sign contract. I signed multiple ones and also uploaded more than enough to them to finally hang up and be told that I will know something in 24 hrs. After I hung up I already saw that I was denied.
Don HaynesMarch 23, 2021

horrible people agreed

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