OppLoans are short-term installment loans offered as an alternative to payday loans. With no credit check required, they can be a fast and affordable option for those in need of quick cash. However, rates can still reach 160%, so borrowers should be aware of the potential cost before taking out a loan. The company advertises its services at opploans.com.
OppLoans Summary
There are a lot of different lenders out there that offer personal loans, so it can be tough to know where to start your search. It’s important to compare offers from multiple lenders before making a decision. Recently, OppLoans has been getting a lot of attention. But is it the right choice for your financial needs? Here’s a closer look at what they have to offer so you can make an informed decision.
We recently took a closer look at the website and terms and conditions of this company. Here are some key points that we found interesting.
- Different lenders originate the loans submitted through their website, including Opportunity Financial LLC in certain states. OppLoans will service all loans originating from their lending partners.
- Loans are Subject to credit approval and verification.
- Installment loan amounts typically range from $500 to $4,000.
- The Annual Percentage Rate (APR) can be anywhere from 59% to 160%.
- Installment loan lengths range from 9 to 18 months.
What are OppLoans?
OppLoans is a consumer-friendly alternative to title and payday loans that offers borrowers with bad credit an easy way to get the money they need. This company offers loans to consumers with bad credit, but the interest rates are still relatively high compared to other lenders.
OppLoans is a Chicago-based company that has been in business since 2009. It has an A+ rating from the Better Business Bureau and has been accredited since 2016. However, the BBB has reported on known government actions against the company for making predatory and deceptive loans to 4000 District of Columbia consumers.
How does OppLoans work?

There are several lenders that may originate the loan application you submit on their website, including Opportunity Financial LLC (a licensed lender in certain states) or one of our lending partners. OppLoans will service all loans that their lending partners originate.
Loan amounts and terms are based on standard underwriting guidelines and credit policies. Funds may be deposited into your bank account via ACH as soon as the next business day, depending on when verification and final approval are completed. The funds’ availability depends on how quickly your bank processes the transaction.
How to qualify?
OppFi does not use your credit score to determine eligibility for a loan but instead looks at data from Clarity Services, an alternative credit bureau. This information may include your history with online small-dollar lenders, auto title loans, and payday loans. Additionally, Opploans reviews bank account transaction data to understand your monthly cash flow.
To be eligible for a loan from OppLoans, you must have a minimum monthly income of $1,500 and a bank account in your name with at least 40 days of history. Your paychecks must also be deposited directly into this account via direct deposit. Lastly, you must reside in one of the states where OppLoans is available.
OppLoans BBB Reviews
Opploans has an A+ rating from the Better Business Bureau and has been accredited since 2016. However, the BBB has reported on known government actions against the company for making predatory and deceptive loans to 4000 District of Columbia consumers.
“On April 6, 2021, the District of Columbia Attorney General’s office filed a lawsuit in the Superior Court of the District of Columbia. Charges filed allege the business is in violation of the Consumer Protection Procedures Act prohibiting exorbitant interest rates that were up to eight times higher than the District’s 24% rate cap. The matter is pending.“
Here are some reviews:
Donna B 11/21/2022
Airon W 11/09/2022
Natalie A 11/05/2022
OppLoans FAQs
How much does OppLoans charge?
No-credit-check loans tend to come with higher interest rates than loans where your credit is checked. This is because they are seen as a higher risk for the lender. Most consumer advocates recommend that an affordable loan’s annual percentage rate (APR) should be below 36%, even lower than OppLoans charges. Loans with triple-digit interest rates are often difficult to repay on time.
Interest may make up a large portion of the loan principal. For example, OppLoans’ interest costs can be more than half of what you borrowed. This can happen when a lender charges high rates and offers long repayment terms on small loans. Let’s say you borrow $1,000 at 150% APR with a nine-month repayment term – in this case, you’d end up repaying $1,721 in total interest.
Are there any pre-payment penalties?
OppLoans does not charge origination, late or prepayment fees., so you can pay off your loan early without any penalties. This makes it a great option for borrowers who want the flexibility to pay off their loans on their own terms.
How does OppLoans affect your credit?
OppLoans uses information from your credit report to help determine your eligibility for a loan. This information comes from two sources: Clarity Services and Experian. Neither of these inquiries will show up as a hard credit inquiry on your Experian credit report, so they won’t impact your FICO score.
How to cancel OppLoans?
Before taking out a personal loan, make sure you are confident in your decision. Once the funds have been dispersed into your account, you cannot reverse or cancel the transaction. Therefore, it is important to consider all aspects of the loan before making a final decision.

Are you finding it difficult to make ends meet? Here are some helpful tips that may help you get back on track.
There is no one-size-fits-all solution when it comes to managing your finances, but there are some basic steps you can take to get your finances in order.
- One of the best places to start is by creating and sticking to a budget. This will help you control your spending and leave room for other important expenses.
- Another tip is to consult with a financial advisor. They can explain your different options and help you set up a plan that suits your unique circumstances.
- And lastly, try not to stress too much about debt. Many companies are understanding and willing to work with customers to create a more manageable payment plan. All it takes is reaching out to their customer service team for more information.
Is OppLoans legit or a scam?
OppLoans is a lending company that has been operational for over a decade. It has an A+ rating with the Better Business Bureau and has been accredited since 2016. However, the BBB does have reports on known government actions against the business for predatory and deceptive loans made to 4000+ consumers in the District.
There are many things to consider before taking out a loan, such as interest rates and repayment terms. Customer reviews can be helpful in choosing a lender and avoiding loans that may not be affordable.
Do you know opploans.com? Leave your experience and review below!
Thank you for reading!
OppLoans
OppLoans Review
OppLoans is a lending company that has been operational for over a decade. It has an A+ rating with the Better Business Bureau and has been accredited since 2016. However, the BBB does have reports on known government actions against the business for predatory and deceptive loans made to 4000+ consumers in the District.