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Overview - OppLoans

OppLoans provides personal loans as an alternative to payday loans. Funds from approved loans can be deposited in the borrower’s account within as little as one business day.

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

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

Our Review of OppLoans

In our opinion, OppLoans should be used only 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.
Compare personal loan rates here

How to Apply

All applications are handled online. The company states that applying for a loan will not harm a consumer’s credit score.

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.

The online application can be completed in just a few minutes, with applicants typically receiving a loan response quickly.

OppLoans has more than 25,000 customers. Based in Chicago, OppLoans offers fast payment installment loans in the following states:

  • Alabama
  • California
  • Delaware
  • District of Columbia
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Mississippi
  • Missouri
  • New Mexico
  • North Dakota
  • Ohio
  • South Carolina
  • South Dakota
  • Texas
  • Utah
  • Washington
  • Wisconsin

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 Monday to Friday which makes speaking to a representative very easy.

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.

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.

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 personal 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.

Why OppLoans?

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

Reviews from customers

Steven Jenkins
August 29, 2019
 Easy to do business with Listened to me Helped me where others couldn’t
December 1, 2019
 Quick approval and delivery which did not effect my FICO score. No problems so far.
Karol Hartline
December 20, 2019
 Really great and understanding. Awesome customer service
Read more Reviews

Reviews - Read Customer Reviews of OppLoans

Not a top-performing offer

This lender is not among the top rated, based on user reviews. It has received a rating lower than 3.5 out of 5, which may indicate that customers are not fully satisfied with the service.

If you would like to see other alternatives, click here for a list of top lenders.

  1.  Most of my experience with this company has been positive. The reps I’ve spoke to are always very friendly and their service is usually always fast. There has really only been one small hiccup (currently trying to refinance my loan through them and it’s definitely taking more tha n the usual 24 hours), but I’m willing to bet it’s really only because it’s barely 2 days after Christmas. When I applied I have the money in my bank account no more than 24 hours later. I even had to do a skip payment once and all it took was a 5 minute phone call to them. Granted, their interest rates are high but that’s because this not a traditional loan, it’s an installment loan. Not only that, people with good credit typically don’t apply for these types of loans - their clientele (myself included) typically have poor credit and lending to people with poor credit is a risk if you look at from a business perspective, so stop complaining about the interest. 
     I had a loan with Rise Credit and I found their option to select the amount of the loan and the terms to be phenomenal. I was approved for anywhere from $2500-4000 and I could not only choose how much I wanted to borrow, but how long I wanted to take to pay it back. I was unhappy  with the way Rise structured the loan package (I.e - the monthly payment didn’t include all the interest so it took me months to even touch the principle amount), but I would be so happy if OppLoans could create a similar system. 
  2.  They work with any credit
  3.  Really great and understanding. Awesome customer service
  4.  Quick approval and delivery which did not effect my FICO score. No problems so far.
     High interest, not competitive.
  5.   Jodi Drahota rated OppLoans 1.0/5.0
  6.  Easy to do business with Listened to me Helped me where others couldn’t
     Felt like I was treated right, no complaints
  7.  Everytime I apply they deny me Won't try again.. Maybe credit nit enough.. I make the money to repay.. They help who they want..
  8.  I appreciate the company allowing me to do a loan but that is about it.
     I contacted the agency via telephone because online only gives me the option to refinance however the customer service sucks! I first spoke with a call rep by the name of Aneko and she was very blah and rude. I stated my goal for the call and unfortunately Aneko stated it was not hing she could do so I asked for my call to be transferred because I was never made aware of the call 2 days ahead rule. She rudely said "it states that on the automated system if you listened" and just transferred my call without letting me say anything. Elizabeth was the supervisor that she gave the call to and she was just as rude and actually said you just give us a call back. I'm sure that was so someone else could take the call. I will never ever in my life do business with this company again!!! 
  9.  Nothing.
     First of all, they sent me a letter saying I was "pre approved" for a loan. In most cases, when you get pre-approval you receive approval after applying. I've never applied before so I'm not sure how they got my information and mailing address. I checked out the website, where th ey advertise incredibly "low interest rates" with comparisons to other options. I went ahead and applied due to my pre-approved status. It broke down what they could offer me, which was a $1000. After interest I wouldve been paying them back over $1600. So much for low rates. But I've been working on my credit and it has been improving but I'm still continuing to work on it, so I decided to agree and sign the document. Then after showing me what I was approved for, and having me sign and date the document, it says it they'll be in touch to let me know if I was truly approved. I'm not sure why I was present with the amount they "approved" me for and a legal document agreeing to the terms and conditions of the loan if they still had to decide further. They state you will be notified in the next 24 hours of their decision. So I waited and waited and didnt here anything so I called the company. I told the customer service rep that I was checking up on my application. After taking my info he proceeded to tell me that my application ended up being denied and I should have received an email explaining. I explained to him that I did NOT receive any email from them. I also asked him why they would send me a pre-approval letter just to turn around and deny me. He said, and I quote, "those letters are really just part of our marketing." They send out fake pre-approval letters, to get you to apply. This company is a total joke. Do not fall victim and waste your time. 
  10.  I was very pleased with how easy it was to get approved. My credit is worse than poor but I still got the money. The interest is high but that was expected due to my credit.
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