MoneyGeek’s Take

Oportun Personal Loan Lender Review

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ByChristopher Boston
Edited byCasie McCoskey
ByChristopher Boston
Edited byCasie McCoskey

Updated: December 21, 2023

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Oportun stands out as a personal loan lender by offering flexibility and inclusivity, especially for borrowers with no credit history or past financial struggles. With loan amounts ranging from $300 to $18,500 and a quick approval process, it's ideal for urgent financial needs. While the high APR and state-specific terms may be drawbacks, Oportun's approach to repayment assistance and strong customer service make it a valuable option for many, particularly first-time borrowers and those rebuilding credit.

  • Oportun

    • Up to 35.99%APR Range
    • UndisclosedMinimum Credit Score
    • $300 to $10,000 ($18,500 for secured personal loans)Loan Amount Range
    • 12 to 52 monthsRepayment Terms
    • 3 business daysTime to Receive Funds

    There's a lot to be excited about Oportun's offerings for personal loans. Its flexibility in loan amounts is a big plus — whether you need a small amount for an emergency or a larger sum for a significant expense, Oportun has you covered. And if you're in California, it even offers a secured loan option, using your car as collateral, which can be a lifeline if you need a bigger loan.

    Another standout feature is that you don't need a credit history to apply. It's a game-changer for many, especially if you're just starting out or have had past financial struggles. Plus, Oportun's fast prequalification process and quick application review mean you won't be left waiting to find out if you're approved.

    In its 18 years in business, Oportun has earned an A+ rating from the BBB, demonstrating a solid track record. These features and its commitment to customer service make Oportun an excellent choice for personal loans.


    • Flexible loan amounts ($300 to $18,500, depending on loan type and location)
    • Secured option available to California borrowers
    • Requires no credit history
    • Fast prequalification process without impacting credit score
    • Quick application review


    • High maximum APR
    • Loan availability and terms vary by state
    • Charges fees for late payments and returned checks
    • Not all first-time borrowers are eligible for higher loan amounts

Features of Oportun Personal Loans

Oportun Personal Loans offer versatile options for borrowers. You can use its personal loans for many needs, like paying bills or funding a big purchase. Oportun stands out with its clear fee structure, so there are no surprises, and the terms are flexible, fitting different financial situations. If you face payment challenges, Oportun's repayment assistance is a bonus. Its responsive customer service and online tools make managing your loan easy. Reviewing these features helps you decide if Oportun meets your personal loan needs, ensuring a choice that aligns with your financial goals.

What Can You Use Your Funds For?

Oportun personal loans offer the flexibility to cover various expenses, a significant factor for borrowers. Knowing how you can use your loan makes planning your finances more manageable. You can use your funds for the following expenses:

  • Home Improvements: Whether it's a major renovation or a minor update, Oportun loans can fund your home projects. From installing energy-efficient windows to updating your kitchen, these can transform your living space, enhancing home value and comfort.

  • Car Repairs: Car troubles can happen anytime and are often costly. With Oportun's personal loans, you can cover expenses like engine repairs, tire replacements or even regular maintenance, ensuring your vehicle remains reliable for your daily needs.

  • Rental Deposits: Moving to a new place can be exciting but expensive. Oportun loans can help you cover rental deposits, easing the financial burden of securing a new apartment or house.

  • Medical Bills: Health care expenses can strain your budget, whether for an emergency or ongoing treatment. Oportun loans provide the necessary funds to cover these costs, allowing you to focus on your health without the immediate financial stress.

  • Vacation: Plan and fund your dream vacation, from flight tickets to accommodations, with Oportun loans. It's a way to create lasting memories without the financial strain.

  • Unexpected Expenses: Life is full of surprises, and not all of them are pleasant. Oportun loans offer a financial cushion for unforeseen expenses like home repairs after a storm, last-minute travel for family emergencies or replacing a broken appliance.

Oportun's personal loans provide a versatile financial tool, enabling you to manage a range of expenses effectively. Whether for practical needs or fulfilling personal goals, these loans offer the support you need when you need it.

Oportun Personal Loan Terms

Understanding the terms of an Oportun personal loan helps you make a wise financial decision. Knowing the available loan amounts, repayment terms, and APR (Annual Percentage Rate) allows you to plan your finances and pick the right loan lender for your needs. Here are the details:

  • Loan Amounts: Oportun offers unsecured personal loans ranging from $300 to $10,000. In California, there's an option for a secured personal loan, using your car title as collateral, with amounts from $2,525 to $18,500. Keep in mind the amount you can borrow varies by state. For first-time borrowers, loans above $6,000 aren't available. You also can't borrow less than $3,100 in Georgia and less than $1,600 in Hawaii.

  • Repayment Terms: Depending on where you live, you can choose repayment periods from 12 to 52 months. This flexibility allows you to select a term that fits your budget and financial plan.

  • APR Ranges: Oportun's APR goes up to 35.99%. While this might seem high compared to other lenders, consider your unique financial situation and the convenience of Oportun's loans, especially if your credit options are limited.

Familiarizing yourself with these features can help you make an informed choice. You can compare Oportun's terms with other lenders to ensure you find a loan that matches your financial needs.

Oportun Personal Loan Fees

Knowing the fees involved in a personal loan helps you budget effectively. Unlike some lenders, Oportun does not charge application or prepayment fees, which is excellent for keeping your borrowing costs down.

However, be ready for these other costs when getting a personal loan from Oportun:

  • Administrative Fee/Tax Stamp: Upon loan approval, you might pay an administrative fee or a tax stamp, depending on your state. It’ll be part of your annual percentage rate (APR), affecting the total cost of your loan.
  • Late Payment Fees: Oportun may charge a late fee if you miss a payment deadline. Staying on top of your payment schedule helps avoid this.
  • Returned Check Fees: In cases where a check is returned, a fee might apply. Ensuring sufficient funds in your account can prevent this.

Understanding these fees helps you plan and manage your loan effectively, avoiding surprises and keeping your finances on track.

Oportun Personal Loan Repayment Assistance

When choosing a personal loan lender, knowing what kind of support is available if you face financial challenges is handy. Oportun understands that life can be unpredictable and offers repayment assistance to help during tough times.

If you're worried about missing a payment, contact Oportun immediately. Call a representative at (888) 907-0129 to discuss options and find a solution that works for you. Remember, this lender reports your payment history to credit bureaus, so consistently making payments on time helps build your credit score. On the other hand, missing payments can affect it negatively.

Knowing that Oportun offers support during difficult financial periods gives you additional assurance. Its approach reflects its commitment to helping you maintain a healthy credit score while managing life's unexpected turns.

Oportun Customer Service

When selecting a personal loan lender, consider its customer service record. Good support can make managing your loan more straightforward and less stressful.

Oportun offers multiple ways to access help:

  • Phone Support: Available Monday to Friday from 8 a.m. to 8 p.m. PT and Saturday to Sunday from 9 a.m. to 7 p.m. PT. Call Oportun at (866) 488-6090 for any loan-related questions.

  • Text Support: Members can text (855) 642-2140 using the phone number linked to their account. A bot can answer questions regarding your loan balance, due date and payment amount, and will even accept payments.

With a high Trustpilot rating of 4.8/5 from over 11,000 reviews, it's clear that borrowers appreciate Oportun's customer service. Remember, reliable customer service isn't just about solving problems. It's about providing proactive support to ensure your loan experience is hassle-free.

Oportun Personal Loan Online Resources

When choosing a personal loan lender, looking at its online resources is helpful. These valuable tools can help you understand and manage your loan better. Oportun provides several useful online features:

  • Personal Loan Calculator: On its main page, you can select your state and estimated credit score to see potential APRs, bi-weekly payment amounts and the number of payments needed. Adjusting the loan amount and length shows different outcomes, helping you plan your finances.

  • Financial Terms Glossary: This resource demystifies financial jargon, making it easier to understand loan terms and make informed decisions.

  • Money Savvy Blog: This blog contains educational articles covering various financial topics. Under the loans section, you'll find posts about early loan payoff and debt management strategies like the Snowball Method.

These resources enable you to handle your loan confidently and make smarter financial choices. Oportun's commitment to providing these tools reflects its dedication to your well-being.

Qualifying for an Oportun Personal Loan

Understanding the eligibility criteria before applying for an Oportun personal loan helps you know if you're a good fit. This knowledge makes the application process smoother and increases your chances of approval.

Here's what Oportun looks for:

  • Credit History: While not mandatory, Oportun will consider your credit report. It may approve loans even for borrowers with past bankruptcies or limited credit history.
  • Valid Photo ID: You must have a passport, driver’s license, non-U.S. ID card or consular ID card.
  • Proof of Income: You'll need recent pay stubs or bank statements to show your earnings.
  • Address Verification: A piece of mail with your name and address (not a PO box) is required.
  • Personal References: You can submit up to four references, including friends, family or employers.
  • Secured Loan Documents (if applicable): These include vehicle title, registration, driver's license, proof of income, car photos and bank details.

You might also consider having a co-signer — a friend or family member who agrees to share the responsibility of the loan. Having one, especially with a strong credit history, can significantly boost your chances of getting approved. However, it comes with a big responsibility. If you cannot make payments, it doesn't just affect your credit score — it impacts theirs too. The shared commitment can be a great advantage, but it requires careful consideration and trust from both parties.

Is an Oportun Personal Loan Right for You?

Deciding if Oportun is the right lender for you affects your immediate needs and long-term financial health. By assessing whether Oportun's terms, fees and services match your situation, you ensure you're making a choice that fits comfortably within your budget and financial goals. Carefully evaluating these factors means you're more likely to be satisfied with your decision and avoid any financial strain down the line. Remember, the right loan should feel like a help, not a hurdle.

Who Can Benefit From an Oportun Personal Loan?

Individuals without a credit history or those who have faced financial challenges in the past can benefit from Oportun's requirements. It doesn't require a credit history for eligibility, making it an excellent option for borrowers starting out or rebuilding their financial standing. It opens doors for many who might struggle to secure loans from other lenders.

Californians have an added advantage with Oportun. You can get a secured loan option using a car as collateral. This option could benefit those needing larger loan amounts that aren't typically available to first-time borrowers or those with limited credit history.

Customers who value speed and efficiency in the loan process also stand to gain from Oportun's fast prequalification and application review. That means getting access to funds quickly and without hassle. It's great for anyone needing timely financial assistance.

Who Shouldn’t Secure an Oportun Personal Loan?

First-time borrowers looking for large loan amounts might find Oportun's offerings limiting. Oportun restricts the maximum loan amounts for first-time borrowers, which could be insufficient for those needing substantial financial assistance. Additionally, Oportun's reach isn't universal. Individuals living in states where Oportun doesn't operate or where its services come with restrictive terms might need to consider other lenders. Availability and flexibility of loan options vary by state, so borrowers must verify if Oportun caters to their region and meets their specific loan requirements.

Timely payments are an important consideration with Oportun, as late payments can incur fees and negatively impact credit scores. Borrowers who aren't confident in making consistent, on-time payments each month might want to explore other options. Avoiding lenders with stringent late payment penalties would be a wiser choice for them.

How to Apply for an Oportun Personal Loan

Applying for an Oportun personal loan is a straightforward process designed to respect your time and ease your journey toward securing funds. Knowing each step in advance streamlines your application, making it faster and more efficient. Preparation reduces stress and increases your chances of a smooth experience.

Here’s what to expect when applying for a personal loan from Oportun:


Begin by getting prequalified, which is a quick process taking only minutes. It requires basic personal information like your phone number, address and monthly income. The good news is this won't impact your FICO® credit score.


Once you've prequalified, it's time to provide additional details about your income. It helps Oportun give you a decision, bringing you one step closer to your loan.

Application Submission

After pre-approval, gather and upload any required documents, then submit your application. Oportun aims to review all applications within a business day, keeping the process efficient.

Approval and Loan Terms

Remember, the final loan approval is subject to a verification and underwriting process. This standard procedure ensures all details are accurate and in order. You'll choose your loan terms and sign the necessary documents if your application is approved.

Receiving Funds

Oportun offers flexibility in how you receive your funds — either by check or direct deposit into your bank account. If you choose the latter, the funds usually arrive within three business days.

These steps can help you navigate Oportun’s loan application process efficiently, making it a more effortless experience to secure the financial support you need.

What to Do if You’re Denied

Being denied a personal loan from Oportun can be disheartening, but it's not the end of your financial journey. You can take several steps to understand and potentially turn it into an opportunity. Here are some tips to consider:

  • Understand the Reasons for Denial: Start by determining why Oportun denied your application. Oportun should provide specific reasons, such as low income or high debt-to-income ratio. Knowing this can guide you on what to improve.

  • Boost Your Financial Profile: Work on enhancing your creditworthiness. This could mean paying down existing debts, improving your credit score or increasing your income. A stronger financial profile increases your chances of approval in the future.

  • Consider a Co-Signer: In some cases, Oportun accepts co-signers. A co-signer with a more robust financial profile can boost your application. Remember that they must understand they're responsible for the loan if you can't pay.

  • Look for Alternative Financing Options: Explore other lenders if Oportun isn't a fit. Credit unions, other online lenders or community banks might have different criteria or loan options that suit you better.

  • Seek Professional Financial Advice: A financial advisor can offer personalized guidance on improving your credit and finding suitable financing options.

Remember, a loan denial isn't a reflection of your worth. It's an opportunity to reassess and strengthen your financial position. With the right steps, you can improve your chances for future loan approvals and overall financial health.

FAQ About Oportun as a Personal Loan Lender

To help you better understand Oportun as a personal loan lender, we've compiled and answered a list of frequently asked questions. These cover various aspects of Oportun’s personal loans, providing deeper insights and clarifications to guide your decision-making process.

Does Oportun have restrictions on how you can use your funds from a personal loan?
What is the minimum credit score requirement for an Oportun personal loan?
How long does Oportun take to approve a personal loan?
Does Oportun have a mobile app?
Is an Oportun personal loan secured or unsecured?
How much can I borrow using an Oportun personal loan?
What fees will I encounter with an Oportun personal loan?
How does applying for an Oportun personal loan affect my credit score?
Does Oportun offer an autopay discount for personal loans?
Can you have co-signers on an Oportun personal loan?

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.