|Basic requirement to get the loan|
AZ, CA, DC, FL, ID, IL, MH, MO, NV, NM, TX, UT, WI
|APR up to||39%|
|Time to money||Same day|
|Funding Method||Check, Pre-paid card, Bank account|
Oportun Loans: Borrow at Unbeatable Rates
Life is mostly great until the unexpected expense hits you hard. Whether it’s an unpaid parking ticket or leaking roof in need of repair, it’s essential to get back on track without impairing your budget.
Payday loans are great in situations where you need a couple of hundred dollars and when your income provides some leeway. But if you need more cash and flexibility, personal loans are the way out. Oportun is a lender specialized in helping customers earning low-incomes. Their loans are manageable and affordable.
Oportun Loan Review: Over 14 years of Great Lending Experience
The company has been lending out loans since 2005, which means that you’ll be dealing with an experienced lender. In their 14 years in business, they have issued over 3.2 million loans worth around $6.8 billion.
Oportun provides both in-store and online loans. That means more options for you. If you need cash by the same day, applying at their cash stores will allow you to walk out with cash in less than 2 hours. Their online loans save you time and put cash in your hands by the next business day.
Which States does the Oportun Loan Serve?
The lender operates in 12 states, including Arizona, California, Florida, Idaho, Illinois, Missouri, New Jersey, New Mexico, Nevada, Texas, Utah, and Wisconsin. All states mentioned except Idaho, Missouri, and Wisconsin have store locations.
How can you find a location near you? Just visit their website and find the “Locations” page from the main menu. You’ll be prompted for your zip code to see stores. If you want to spend less time at their stores, call your nearest store to begin the application process and just drive by to pick up your check.
Oportun’s Promise of Affordable Loans
Oportun loan rates are lower than those offered on similar online loans. Forget about paying triple-digit APRs on loans where your credit score is not considered. With Oportun loans, your APR will range from 20 – 67%. Through the years, customers have saved over 1.5 billion in loan costs.
Oportun Recent Awards
Their stellar service has earned them several accolades. FinTech Breakthrough named Oportun as the “Best Consumer Lending Product” in 2019, because of their excellent use of technology in lending. The company also has a CDFI Certification, which basically means that their loans have been certified as suitable for underserved consumers living in low-income areas.
Oportun Loan Review: Loan Features
You’ll have the chance to borrow an amount ranging from $300 to $9,000. The expected term is 7 to 42 months. Besides personal loans for any use, you can also take out an auto loan, which offers $5,000 to $30,000.
Benefits of Oportun Online Application
- No Credit History
Are you borrowing your first loan? If you have never opened credit card accounts or took out personal loans, Oportun will still lend to you. Your on-time payments are reported to credit bureaus, which means that your credit file will have some entries. Up to 760,000 borrowers without FICO scores have established credit by choosing Oportun.
- Multiple ways to receive your funds
If you’re wondering how you will receive your Oportun payment online, you will be glad to learn that they offer three options. You can receive a check, get funds directly deposited to your bank account via ACH payments, or receive a pre-paid debit card loaded with your loan amount.
- Cheaper loans overall
The average applicant gets to save $1,000 by choosing Oportun Credit over other lenders.
- No pre-payment fees
Smart borrowers pay off their loans ahead of schedule. Get to save on interest fees without incurring prepayment penalties.
- Receive funds without a bank account
Since they offer pre-paid debit cards, you might not need a bank account to apply. Most online lenders require checking accounts.
- Free financial counseling
Another highlight of this Oportun review is the financial coaching availed at zero cost thanks to Oportun’s partnership with UnidosUS.
- Accredited Business
Oportun is part of a select group of lenders with BBB accreditation. As an accredited business, they resolve complaints in a timely and cordial manner.
How can I contact Oportun customer service?
The lender’s reps have received much acclaim for the care, guidance and useful information they provide to customers. Speak to someone by calling 866-488-6090 or emailing firstname.lastname@example.org. Also, check out their contact page for more ways to reach them.