OppLoans Personal Loans Review

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

OppLoans is a reputable lender designed to help people with damaged credit get the money they need. For those who need money now and have low credit scores, OppLoans is a good option.

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Our Partner

Personal & Bad Credit Loans


  • Fast funding
  • Easy application process
  • Up to $4,000 loans
  • Excellent customer reviews
Overall Rating

Best lender for Installment Loans

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Pros & Cons

There are good reasons to get a loan through OppLoans, but there are also a few drawbacks to consider. Our pros and cons list can help.


  • No minimum credit score
  • Money is available as soon as a business day
  • No fees or prepayment penalties
  • Exceptional customer service


  • High-interest rates
  • Can't borrow more than $4,000

Bad credit can happen to almost anyone. A few months of financial hardship can lead to missed payments which can drastically affect your credit score. While it only takes a couple of months for your score to drop, it can take years to get your score back up to an acceptable level.

Even if you are now financially stable and capable of making loan repayments, a low credit score can stand in the way of you getting a loan. If you need money now, you may feel you have nowhere else to turn but payday or title loans, which have exorbitant interest rates.

OppLoans can be a lifesaver if you're in this situation. They help the 11.1% of people who have low credit scores to get loans. They work with you to get a loan you can afford to pay back, even if your credit score is damaged.

Check our OppLoans personal loans review and get all the essential information about this lender.

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Quick Summary

Estimated APR: 59% to 160%

Loan Amount: Up to $4,000

Min. Credit Score: No minimum credit score

About OppLoans

OppLoans is a platform that's committed to helping people who may have been turned away by conventional lenders. They understand that some people may have bad credit based on past circumstances, but are now able to repay a loan, even if their credit score hasn't gone up yet.

Their team is made up of financial and technology experts who have many years of experience in the business. They work with people to help them get personal loans and repair their credit.

OppLoans Services

OppLoans offers several different services to fit a variety of situations.

Online Loans

OppLoans is a fully online lender based out of Chicago. You can get a loan through an online application that won't affect your credit score. If approved, you can get your loan as soon as the next business day.

Bad Credit Score

A bad credit score can close many doors for people, including getting a loan. OppLoans recognizes that a bad credit score isn't the only indicator of whether someone can repay a loan at the present time, especially when even a missed payment can stay on a credit report for up to seven years.

If you have a FICO score under 670, then you'll likely have trouble getting a loan through a traditional lender. OppLoans offers bad debt loans for people in this situation. 

They usually offer installment loans for up to 18 months.  They work with you to make sure you can afford to pay the monthly notes. As a bonus, repaying the loan can give your credit score a boost.

No Credit Check Loans

There are many reasons you may not want your credit score checked. A hard inquiry can stay on your credit report for years. It can also lower your score. 

OppLoans allows you to apply with no hard inquiry into your FICO score. They do check other scores, but these won't show up on your credit report. A no credit check loan is also advantageous to people who are still working to rebuild their credit.

Installment Loans

OppLoans set borrowers up on an installment repayment plan. Before you receive your loan, you'll know exactly what you'll be required to pay each month and when.

Your monthly note doesn't change, and it's always due on the same day of the month.

Rates & Terms

Your interest rate and repayment length will vary based on where you live. Each state has different requirements. OppLoans has a page for each state that gives you an idea of how much you'll pay in interest and how long you'll have to pay it off. 

You can check your state's page to see if the repayment costs and schedule will work for you and your budget. OppLoans seems to be diligent about making sure borrowers know exactly what to expect.

How to Qualify for a Loan

OppLoans requires all potential borrowers to complete an online application. You must be at least 18 years old and have an active checking or savings account. You have to live in one of the 35 states where OppLoans operates.

You also need a form of income, either employment or from benefits like Social Security or Disability. You must get your paychecks through direct deposit, unless you live in New Mexico.

While you don't need a minimum credit score for OppLoans, they do look at credit scores from credit bureaus other than FICO and Vantage. Mostly, they look for a consistent and adequate income.

Who is OppLoans Best For?

As we’ve highlighted in this OppLoans personal loans review, OppLoans is designed for people who have bad credit but are still capable of managing the repayment of a loan.

The interest fees are high, ranging from 59 to 160%, so if your credit score is high enough to go through a conventional lender, then OppLoans probably isn't the best financial choice.

However, if your credit is damaged and you need money quickly, OppLoans is preferable to lenders like payday or title loans, who can charge extravagant interest rates up to 400%.

Should I Get a Loan with OppLoans?

Whether you should get a loan with OppLoans will depend on your needs and financial situation. If you have a low credit score but an immediate need for money, then OppLoans may be a good option

While interest rates are high, they're much lower than you'll find with a payday or title loan.  However, if you have a decent credit score or have time to wait and rebuild your credit before getting a loan, then OppLoans may not be your best option. 

If your need for money isn't pressing, you'll save in the long run by waiting until your credit score is high enough to go through a conventional lender.

Compare to Other Lenders

Sofi logo
  • Loan Amount: Up to $100,000
  • APRs: 5.74% -20.28%
  • Min. Credit Score: 680
Credible logo
  • Loan Amount: Up to $100,000
  • APRs: 2.49%-35.99%
  • Min. Credit Score: 620
Upstart logo
  • Loan Amount: Up to $50,000
  • APRs: 6.95% - 35.99%
  • Min. Credit Score: 580

OppLoans FAQs

Have more questions about OppLoans? We have answers!

Is OppLoans a legitimate loan company?

OppLoans is a legitimate and reputable lending company. It has a TrustPilot score of 4.7, meaning most customers have had a good experience with them.

As with any lending company, it's important to read the fine print and understand all fees, but OppLoans is legitimate.

How long does it take OppLoans to fund a personal loan?

Once you're approved for a loan through OppLoans, you can receive your money in your bank account as early as one business day. However, your bank's transaction processing times may add additional wait time.

What is the minimum credit score required for an OppLoans loan?

OppLoans doesn't have a minimum FICO or Vantage score requirement to apply. They do take into account your credit scores from alternative reporting sources.

They also look at your bank account to determine if you're a good candidate for one of their loans.

What interest rates can I expect to pay on a personal loan?

Your interest rate will be based on a few factors. First, OppLoans considers how much money you're borrowing. They offer loans from $500 to $4,000, although not everyone will be eligible for the maximum amount.

Since OppLoans are designed for people with bad credit, you can expect to pay a higher interest rate. Most rates range anywhere from 59 to 160%. 

Your rate will be based on certain credit scores and OppLoans's evaluation of your application and bank account. The bigger risk you are, the more you'll pay in interest.


OppLoans is a leading financial technology platform focused on helping middle income, credit-challenged consumers build a better financial path.

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I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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