OppLoans Review

Written By Jeff Hindenach
Last updated December 7, 2020

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A person counting money to symbolize investment decisions
March 25, 2020

Simple. Thrifty. Living.

Ever wanted to take out a loan, but felt unsure about which companies would give you the best rates? Applying for a loan shouldn’t be a frustrating and painful experience, but it often is. Taking out a loan from a company whose practices you are not particularly familiar with can sometimes land you in even more financial difficulty than before, but not with a service like OppLoans.

Let’s take a look at OppLoans (opploans.com), a company that is making it easier for borrowers to have access to funds that they desperately need, without waiting for weeks to get results. Here’s a quick OppLoans review, compared to some other short-term, bad credit loans.

Sites Like OppLoans

RankLoan ServiceBest ForAPRExpert Rating
1CashAdvance.comOverall Best14%-1564%★★★★★

Sites Like OppLoans

RankLoan ServiceExpert Rating

OppLoans is the trade name of a lending company called Opportunity Financial. Based in Chicago, Ill., they are an online lender. In fact, you can only apply for funds online. When compared to other short-term lenders on the market, the OppLoans interest rates are much lower. But if you compare OppLoans to lenders whose target are people with poor credit history wanting to borrow money, such as payday lenders, then OppLoans is quite competitive. Go to the site opploans.com to learn more.

OppLoans offers an easy loan, debt consolidation, and credit plan. Loans on offer are anywhere from $1,000 to $10,000. Monthly payments may differ, depending on the loan amount, term, and interest rate.

Since its inception in 2009, 25,000 borrowers have benefitted from using OppLoans. The company is known across the country for their friendly service. While other payday lenders may perform a hard pull on your credit after agreeing to a loan, OppLoans avoids such tactics. Applying for a loan with OppLoans will therefore never hurt your credit score with companies like Experian, Equifax, and TransUnion.

OppLoans’ ratings are also better than average, as of 2017. Their current ratings are as follows: A+ with the BBB, 4.9 out of five customer rating on Google, and 4.8 out of five rating on Facebook.

Keep in mind that Opploans, and other short-term loan services, are not useful for improving your credit score, like credit repair services are.

OppLoans Review

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OppLoans Review image

OppLoans is changing the way people think about short-term loans. For one thing, OppLoans offers higher loans than other short-term loans services; between $1,000 and $10,000. Another positive of OppLoans is there interest rates are much, much lower than traditional short-term loan services. Once you are approved, funds will be deposited in your account the following business day. OppLoans reviews show an A+ rating from the Better Business Bureau and great customer satisfaction to boot.


CashAdvance.com Review

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CashAdvance.com Review image

CashAdvance.com is one of the more trusted names in payday loans, and works the same as Trusted Loan Network in that it aggregates lenders to help match the best one for you. They offer a wide range of loans and have some of the lowest APRs in the payday loan business. CashAdvance.com also does not require a credit check, but you do need to be 18, have a source of income and have an open back account. Once you are approved, funds will be deposited in your account the following business day.


PersonalLoans.com Review

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PersonalLoans.com Review image

PersonalLoans.com isn’t a traditional short-term lender, it works more like a traditional loan. Like Trusted Loan Network, PersonalLoans.com aggregates offers from a range of lenders and banks so that you get the best possible offers. Unlike payday loan services, PersonalLoans.com will check your credit score to determine your eligibility. They generally don’t offer loans to anyone who has a score below 580. On the plus side, PersonalLoans.com’s APRs are generally a lot lower since they are more like traditional loans, and let you determine your payback schedule with your lender.


Have you ever wondered is OppLoans legit or is OppLoans safe? The answer to both of those questions is yes, OppLoans is legitimate and trusted by many successful borrowers across the United States. Reviews on OppLoans show it to have an A+ rating from the Better Business Bureau and a positive customer experience with few complaints.

OppLoans is usually best for borrowers with a credit score range of 640 to 850. In order to apply (only possible online), however, you must be 18 or older, and a legal U.S. citizen or legal U.S. resident. You must also be currently employed. OppLoans is not applicable for anyone in the military.

If you want to apply for a loan amount with OppLoans, please refer to the above criteria and review your credit score. Remember that you can only apply with OppLoans online. The process is fairly simple and fast, taking only a few minutes before informing you whether you meet the OppLoans requirements to qualify. If you are eligible, you will receive your loan agreement instantly. This is where all the rates and terms of your loan amount are stated. Be sure to review this document carefully before agreeing to the terms and submitting your loan agreement. Once this step is complete, OppLoans deposits the funds as soon as the next business day.

As of December 2016, OppLoans operates in Alabama, California, Delaware, Georgia, Idaho, Illinois, Kansas, Maryland, Mississippi, Missouri, New Mexico, Ohio, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin. In some states, particularly Kansas, Maryland, Tennessee, and Virginia, OppLoans offers a line of credit product, which works like a credit card. Check their website for updated guidelines. If you can’t find a loan from OppLoan in your state, you can check out another online loan service like Upstart. Here is our review of Upstart.

The interest rates OppLoans offers depends on the borrower’s state, credit profile, and loan amount. OppLoans will also consider how long a borrower may take to pay back the loan. OppLoans interest rates range from 36 percent to 199 percent, and loan terms go up to 36 months.

The OppLoans rates for the line of credit can go as high as 160 percent. The origination fee is $50.

If, for example, you are in California, APR rates can be anywhere from 36 percent to 160 percent . The terms may go from nine to 36 months. But in Utah, rates range from 125 percent to 199 percent APR, and loan terms go from six to 24 months.

When applying for personal loans, consider the administration costs. There is an administration fee which you may overlook, as it is not included in the APR. This also varies depending on where you are.

An average loan with OppLoans is for $1,000 and has 17 bi-weekly payments of $81, which is the equivalent of a 99 percent APR.

Here are some real OppLoans customer reviews we have compiled from across the internet for your perusal.

  • BBB: 78 percent positive, 3 percent neutral and 19 percent negative
  • Supermoney Rating: 4 out of 5 stars
  • Credit Karma Rating: 4.6 out of 5 stars
  • Best Company Rating: 5.1 out of 10 stars

Positive OppLoans Review from Best Company:

For more than seven years, OppLoans has served its clients by providing personal loans to meet individual short-term needs. Here are some positive aspects of the company:

  • Lower rates
  • Customer service
  • Fast and easy

“OppLoans is not a payday lender. The company makes this point crystal clear. In fact, OppLoans rates are 125 percent lower than those of payday loans. Of course, a customer’s rate will depend on his or her credit rating and other factors, but those with good credit can secure personal loan rates below 6 percent.”

“We love the fact OppLoans differentiates itself from payday loans, which has sky-high rates. The company makes it clear that it is a different kind of lender, and you’ll quickly see that in the rates. Also, it’s refreshing to find a lender that is so well thought of by customers and by rating agencies.”

“When dealing with a prospective lender, customers run the risk of dealing with hasty, non-responsive agents. But with OppLoans, you will find friendly, courteous, pleasant representatives who are more than willing to help you find what you’re looking for. You can be sure your experience will be positive when dealing with OppLoans customer service.”

“The overwhelming sentiment is that the company makes the entire application and approval process smooth and easy and that the representatives make you feel comfortable and valued. There’s also a common feeling that the company’s staff members know their stuff and can answer just about anyone question you have. And if they don’t know the answer, they’re happy to find someone who does.”

Why You Should Go With Lenders Who Have Good Customer Service History

There are many more OppLoans reviews online from both customers and country-wide companies praising us for our easy customer service. We found hardly any negative reviews, and those who had used OppLoans’ lending services before said that they loved the ease of the online process.

As a first-time borrower, you may feel uneasy about dealing with personal finance matters online. It is best to go with a company that has honest representatives, can be clear and direct — answering any questions you may have — and knows how to meet your needs.

If you are a borrower who needs a personal loan in 2017, try the ease and simplicity of OppLoans’ offerings. It’s a financial opportunity you don’t want to miss. Debt consolidation can be a hard thing to pull out of, and you’ll want to make wise financial investments and choices.

And if you have had a negative or positive experience with OppLoans, then do let us know so we can make others aware of the lending process.

About the Author

Jeff Hindenach

Jeff Hindenach is the co-founder of Simple. Thrifty. Living. He graduated from Bowling Green State University with a Bachelor's Degree in Journalism. He has a long history of financial journalism, with a background writing for newspapers such as the San Jose Mercury News and San Francisco Examiner, as well as writing on personal finance for The Huffington Post, New York Times, Business Insider, CNBC, Newsday and The Street. He believes in giving readers the tools they need to get out of debt.

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