OpportunityFinancial
Online Payday Personal Consumer Loans up to $5,000
Easy Application, Fast Processing, Quick Approval, Any Credit Score
Request a LoanOpportunity Financial (also known as OppLoans) is a lender based in Chicago that offers personal installment loans ranging from $500 to $4,000 with no collateral required. The maximum repayment term for a personal installment loan is 36 months. Their APR ranges between 59%–199% and varies by state. The lender positions itself as a safer and trusted alternative to payday loans – at a lower rate.
| Company name | Opportunity Financial, LLC |
| Founded | 2009 |
| Address | 130 E Randolph St, Suite 3400, Chicago, IL 60601 |
| Website | opploans.com |
| Phone number | (800) 990-9130 |
| [email protected] |
Pros
- Provide installment loans only
- Wide state availability
- Relatively high APR rates
- There are no prepayment penalties
- Builds credit and reports to Equifax, Experian and TransUnion
- You must have a stable income and bank account
- Bad or poor credit is not an obstacle to approval
- Flexible repayment plans
- Applying doesn’t impact FICO credit scores
- An A+ rating with the Better Business Bureau
- Course on financial literacy
Cons
- Interest rates are much higher than traditional personal loans
- Must receive income through direct deposit
- The maximum loan is $4,000
- Minimum monthly income varies by state
- Bank account must be at least 90 days old
Bottom line
OppLoans personal loans are suitable for consumers who have poor or bad credit scores, who need to borrow no more than $4,000 or less and who need funding quickly. The application process is quick and easy but in many cases, borrowers will be able to find more favorable terms elsewhere.
Types of loans
Opportunity Financial offers personal loans that can be used for various purposes, including:
- Medical expenses
- Car repairs
- Household expenses
- Paying rent
- Consolidating and paying off other loans
- Major purchases
Loan requirements
Requirements to apply for Opportunity Financial personal loan:
- Be U.S. citizen or permanent resident
- Be at least 18 years of age (19 in Alabama and Nebraska)
- Have at least three months’ of employment
- Have income history for approval
- Be not a covered borrower under the Military Lending Act
There is no minimum credit score for approval so we suppose that OppLoans personal loans are designed for borrowers with poor credit. Another benefit is that you do need to have a traditional bank account open in your name with at least 90 days of banking history and receive your paychecks through direct deposit.
Category: Online Loans
Tags: Alabama, Alaska, Arizona, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Mexico, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming
Posted by Deborah Wagner