FAQs
Oportun is an online and storefront lender that makes installment loans to low- and moderate-income applicants with limited or no credit history. The lender says it provides loans to fair- and good-credit borrowers, too, but those consumers likely have lower-cost borrowing options elsewhere.
Does Oportun do monthly payments? ›
Personal loans are installment loans, meaning they're repaid in equal payments over a set period of time. Personal loans through Oportun have low, fixed payments designed to fit your budget. And you can choose the available repayment schedule that best works for you. Plus, we never charge prepayment penalties.
What is considered a payday lender? ›
While there is no set definition of a payday loan, it is usually a short-term, high cost loan, generally for $500 or less, that is typically due on your next payday. Depending on your state law, payday loans may be available through storefront payday lenders or online.
Does Oportun give you money right away? ›
Oportun is able to get your money to you lightning-quick if you're approved. According to the lender, most people get their funds on the same day they apply.
Is Oportun for bad credit? ›
Bottom Line: Oportun personal loans are good for people with bad credit. The company offers a small minimum loan amount and a long time for repayment. Oportun personal loans also have a maximum APR of 36%, which is low for bad-credit loans.
How to borrow $500 quickly? ›
You can get a $500 loan via a personal loan, payday loan, payday alternative loan, cash advance app, or credit card cash advance. However, some options are better than others. Some small loans come with high costs that can cause financial hardship.
Which payday loan is easiest to get? ›
The easiest payday loans to receive are usually 1 hour payday loans no credit or cash advances, as they often have minimal eligibility requirements. However, these come with high fees and interest rates. Secured loans, like title loans, can also be easier to get but require collateral, such as a car.
How do I borrow $200 from Cash App? ›
1. Open Cash App. 2. On the Home screen, scroll down and select "Borrow." ⪼ 1/\833/\3170566 ◀You can borrow between $20 and $200.
What is the easiest loan to get immediately? ›
What is the easiest loan to get approved for? The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.
Is Oportun loan legit? ›
Oportun has an A+ rating with the Better Business Bureau, but its average customer service rating across over 140 reviews is low at 2.4 out of 5 stars. On Trustpilot, the lender has more glowing reviews, with an average rating of 4.8 out of 5 stars across more than 11,500 responses.
Oportun is not a bank. Oportun offers the direct deposit account (Direct℠) via its bank partner Pathward, N.A., Member FDIC. Oportun also offers personal loans in certain states through its partner Pathward, N.A., and credit cards through its partner WebBank.
How long does Oportun take to approve a loan? ›
Applying through Oportun, you'll usually get a decision on your application the same day. Just take a minute to make sure you understand the repayment terms so you can make the right decision for your future financial goals.
What bank is Oportun affiliated with? ›
Oportun is not a bank. Oportun offers the direct deposit account (Direct℠) via its bank partner Pathward, N.A., Member FDIC. Oportun also offers personal loans in certain states through its partner Pathward, N.A., and credit cards through its partner WebBank.
Is Oportun a predatory lender? ›
An investigation by the Guardian has revealed that Oportun Inc is one of the most litigious debt collectors in California, accounting for at least 15% of all small claims filings from July 2017 through June 2018.
What happens if you don't pay Oportun? ›
If you stop paying Oportun personal loan, your credit score will drop and you could default on the loan, causing even more significant credit score damage that lasts for years. Other consequences of not repaying a loan from Oportun include being hounded by debt collectors and possibly being sued.