OppLoans Review: Payday Loan Alternative for Borrowers With Bad Credit

3.9 _/5

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Our take: OppLoans offers fast, same-day funding and accessible personal loans for borrowers with bad or limited credit. It reports payments to all three credit bureaus, making it a potential credit-building tool. However, APRs exceed 100%, so while it’s a safer alternative to payday loans, the cost of borrowing can still be very high.

• No credit check
• Fast funding
• Provides financial education

• High APR (over 100%)
• Low loan amounts compared to other lenders
• Not available in all 50 states

Rates (APR)	Over 100%
Loan amounts	$500 – $4,000
Repayment terms	9 – 18 months
Funding time	Same day

Table of Contents

1. Is OppLoans legit?
2. How do OppLoans online personal loans work?
   1. How long does OppLoans take to approve?
   2. Does OppLoans approve everyone?
   3. Costs and fees
   4. Repayment
   5. Is OppLoans good for credit building?
   6. Is OppLoans safe?
   7. OppLoans Loan Advocates
3. OppLoans personal loans vs. payday loans
4. OppLoans personal loans vs. other personal loans
   1. Best personal loan alternatives
5. OppLoans personal loans vs. cash advance apps
   1. Cash advance app alternatives
6. Customer reviews
   1. OppLoans on Trustpilot
   2. OppLoans on Google
   3. OppLoans on BBB
7. How to apply with OppLoans
   1. Steps in the OppLoans application
      1. Step 1: Go to the website
      2. Step 2: Start a new application
      3. Step 3: Fill out the application

Is OppLoans legit?

OppLoans is a legitimate lender with thousands of positive reviews on reputable websites. The company fills a market gap, offering loans to consumers with low credit scores or thin credit histories who don’t want to fall into the payday loan trap.

OppLoans charges high interest rates on its loans (over 100% APR) but no prepayment or origination fees. OppLoans also offers financial education, something many competitors don’t. This OppLoans review explains how its personal loans work and compares it to several alternatives, including cash advance apps.

How do OppLoans online personal loans work?

OppLoans works like other installment loans: you apply to borrow a set amount, and if approved, you repay it in fixed monthly installments over 9 to 18 months. Loan amounts typically range from $500 to $4,000, and all loans are unsecured.

Unlike traditional personal loans, OppLoans is designed for borrowers who may not qualify elsewhere, making it an alternative to payday loans—though with high costs.

How long does OppLoans take to approve?

The application is completed online, with decisions often made in minutes. If approved, funds can be deposited into your bank account as soon as the same business day, depending on when your application is finalized and how quickly your bank processes ACH transfers.

Does OppLoans approve everyone?

Not everyone will qualify, but OppLoans is more lenient than most lenders. There’s no hard credit check, so applying won’t affect your credit score. Instead, eligibility is based on income, state of residence, and other factors. To qualify, you must have a regular source of income (including Social Security or disability benefits) and live in one of the 40 states where OppLoans operates.

Here’s a look at OppLoans eligibility requirements:

Requirement	Details
Citizenship	Citizenship requirements are not listed, but you must have a bank account to be eligible
Employment status	Must have a regular source of income (income from Social Security or disability counts)
State of residence	Must live in one of the 40 states OppLoans serves
Minimum age	18+
Minimum credit score	None
Minimum income	None listed, but you must receive some type of income through direct deposit

OppLoans costs and fees

OppLoans loans come with APRs that exceed 100%—far higher than traditional personal loans but typically lower than payday loans. Loan terms range from 9 to 18 months, with no origination fees, no prepayment penalties, and no hidden charges.

Still, the high interest means the total cost of borrowing can be steep. Below are two loan examples with typical OppLoans APRs. In both cases, note that the total interest paid exceeds the original loan amount.

	$500 loan	$3,000 loan
Rate (APR)	160%	170%
Term	9 months	12 months
Monthly payment	$122.22	$675.00
Total interest paid	$600	$5,100
Total cost to repay	$1,100	$8,100

OppLoans repayment

In your customer portal, you can set up debit card payments or recurring ACH payments.

If you want to pay via check, mail your check to this address:

OppLoans
130 E Randolph St, Suite 3400
Chicago, IL 60601

Is OppLoans good for credit building?

OppLoans reports repayment activity to all three major credit bureaus. Making on-time payments may help build or improve your credit history, giving you a chance to strengthen your credit profile over time. However, missed or late payments could hurt your score.

Is OppLoans safe?

Yes—OppLoans uses 256-bit encryption technology to protect borrower information and communications. The platform is designed with strict security standards to safeguard personal and financial data.

OppLoans Loan Advocates

One of OppLoans’ standout features is its Loan Advocates—customer service representatives available to guide borrowers throughout the application and repayment process.

They provide support, answer questions, and help ensure borrowers understand their loan terms, making the lending experience more personalized than with many online lenders.

OppLoans personal loans vs. payday loans

If you compare OppLoans with payday loans, OppLoans has more favorable terms and interest rates. According to the Consumer Financial Protection Bureau, the average interest rate for payday loans is approximately 400%. Below is a chart showing the differences between these two lending products.

	OppLoans	Payday loans
Max borrowing amount	$4,000	$500 – $1,000 depending on the state
Rate (APR)	Over 100%	Around 400%
Offers financial education?	Yes	No
Loan terms	9 – 18 months	Typically the next payday

OppLoans has better interest rates than payday loans, but consumers might choose payday loans instead due to proximity. They might not know a better option exists, and payday lenders typically have brick-and-mortar offices in communities.

OppLoans isn’t available in every state, but neither are payday loans. According to the Pew Research Center, 18 states either prohibit payday loans or set strict interest rate limits. Depending on availability, consumers might need to choose one option over the other or seek alternatives, such as cash advance apps or other personal loans.

OppLoans personal loans vs. other personal loans

If you need to take out a personal loan, it’s important to consider all your options. Because OppLoans provides loans to consumers with low credit scores or a thin credit history, it might be the best option if you’re only eligible for an OppLoans loan or a payday loan.

However, if you have good credit and a stable income, you might be eligible for a personal loan from one of the alternatives below. These options offer much more competitive APRs, which can save you significant money on interest costs.

Best OppLoans personal loan alternatives

The lenders below offer loans with competitive rates. Two require a minimum credit score of 580, but Upstart doesn’t require a minimum credit score at all. The companies below allow you to borrow up to $50,000 and $75,000, whereas the maximum amount you can borrow from OppLoans is $4,000.

OppLoans personal loans vs. cash advance apps

Another alternative to consider when you need to borrow money is a cash advance app. Cash advance apps offer small advances, such as $100 – $500, or even up to $750 per pay period in the case of EarnIn.

Cash advance app alternatives

If you need to borrow a small amount, some cash advance apps have more favorable terms than an OppLoans loan. These apps typically charge instant funding fees instead of interest costs. 

Depending on the fee amount, instant funding fees can translate to APRs from 50% to more than 300%. By comparing your lending options, you might be able to get a lower APR with a cash advance app than with OppLoans. However, this depends on the fee amount, the amount you want to borrow, and the rate OppLoans offers.

OppLoans personal loans customer reviews

OppLoans has customer feedback across major review platforms, with most borrowers praising speed and service while some raise concerns about cost and the application process.

Source	Customer rating	Number of reviews
Trustpilot	4.5/5	5,245
Google	4.8/5	11,963
Better Business Bureau	3.7/5	186

OppLoans on Trustpilot

Trustpilot reviews tend to emphasize the smooth application process and quick access to funds. Many customers also appreciate the structured repayment plans and professional support. Still, some borrowers mention the high APRs as a drawback, even if they found the service easier to manage than payday loans.

OppLoans on Google

Google reviewers frequently highlight the ease of applying online and the helpful guidance from Loan Advocates. Positive feedback often centers on customer service and the company’s willingness to work with people who have less-than-perfect credit. Criticism usually focuses on the steep cost of borrowing.

OppLoans on BBB

On the Better Business Bureau site, feedback is more mixed. Customers who leave positive reviews note that OppLoans provides a more reliable option than payday lenders and that support is responsive. Negative reviews, however, call out the high interest rates and occasional frustrations with repeat document requests during the application process.

How to apply with OppLoans

OppLoans will ask for proof of income and proof of identity to qualify for a personal loan, so have documents on hand to upload before you begin the application process. To verify your identity, you will need to show a state ID, driver’s license, U.S. passport, or Permanent Resident Card (aka Green Card). 

OppLoans will request a Social Security card to verify your Social Security number, or you can use a W-2 or other IRS tax document from the last 12 months. Your document should have your name, Social Security number, and address on it.

If you live at a different address from the one shown on your documents, provide proof of your current address. You’ll also need to provide income verification, whether it’s a recent pay stub or your most recent benefit or award letter.

Steps in the OppLoans application

Step 1: Go to the OppLoans website

Visit the OppLoans website, and click the button that says “Apply Now.”

Step 2: Start a new application

Once you click “Apply Now,” you’ll see a new screen that lists the eligibility requirements to apply for an OppLoans loan. If you meet those requirements, click “Start New Application.” 

Step 3: Fill out the application

Next, OppLoans will guide you through a straightforward application process. You will see a lock symbol above the application, indicating that your application is a secure form and your personal information will be safe.

Once you fill out the application, submit it. OppLoans will contact you with a decision or to verify your information.

How we rated OppLoans

We designed LendEDU’s editorial rating system to help readers find companies that offer the best personal loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared OppLoans to several personal loan lenders and marketplaces, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.