Opploans Review: Loans for Any Credit Challenges

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At some point in your life, you might need a little extra help paying for big purchases. Most may think that personal loans are only reserved for those with good credit, however, those with lower credit scores can also apply.

OppLoans offers small, no-credit-check installment loans for credit-challenged individuals. Loans are funded quickly after approval, but the interest rates are much higher than the rates for standard personal loans. You can find Opploans in 37 states plus Washington D.C.

Free to Apply
Chicago, IL
  • No credit check required
  • Fast funding after approval
  • Flexible payments
  • Reports payments to all three credit bureaus (except TX)
  • Must get paycheck via direct deposit (New Mexico excluded)
  • Must apply online


It’s best for people with lower credit scores who want to avoid the high APRs of payday loans. Customers with bad credit can be approved for a small, installment loan through OppLoans, even if they’ve been denied elsewhere.

How Does Opploans Work?

OppLoans uses alternative requirements to help people with low credit scores get approved for small loans between $500 and $4,000. The standard APR assigned to loans ranges between 59% and 199%. This is much better than the 300% and 400% APR rates seen in payday loans.

Unlike payday loans, which are paid back within weeks through a single lump-sum payment, OppLoans installment loans are paid back over a series of months through smaller, regularly scheduled payments. Payments always include principal payments. Their loans range from 9 – 24 months, with an average repayment term of one year.

While OppLoans doesn’t check your credit when you apply, they will check your application to make sure that you have the ability to repay your loan. If their underwriting application process determines that you do not have the ability to repay, your application for a loan will be denied.

Borrowers can expect to be approved if they meet these minimum qualifications:

  • Minimum monthly gross income of $1,500
  • Valid employment or benefits
  • Personal bank account in good standing for at least 90 days
  • Receive paychecks through direct deposit
  • Live in a state serviced by OppLoans

Though the average OppLoans customer has a credit score of 560, no minimum credit score is required.

The OppLoans application process requires you to submit personal information, including address, social security number, income, and proof of employment. After supplying all required information, borrowers can view their loan options, APR, and repayment terms.

Funding is available as soon as the next business day after application and approval.


Get Cash Now, #1 Personal Loan

Get a Personal Loan Fast Even if You Have Bad Credit

Poor credit? No problem
Even if you have poor credit, you can still get a personal loan for your short-term needs.
Qualified borrowers can get up to $4,000
Depending on your state, you can borrow up to $4,000 as they underwrite and don’t do automatic approvals.
Positive history is reported
When monthly payments are made back on the loan, Opploans notifies the 3 credit bureaus to build up your payment history!

Does Opploans Cost Money? 

It’s free to apply to OppLoans. Borrowers are not charged an origination fee, application fee, or prepayment penalty. OppLoans installment loans only charge simple interest. Although the APR for these loans may be as high as 199%, that’s still much lower than the 400% APR rates commonly seen in payday loans.

Features & Pro Tips

When you apply with OppLoan, they will offer to comparison shop on your behalf. If they find a less expensive option for you on another site, they’ll let you know.

Borrowers who make steady on-time payments at the beginning of their OppLoans installment loan may be eligible to refinance into a larger loan or extend the loan term.

OppLoans offers a few other customer features, including the ability to change your payment date online, access to financial education resources, and payments reported to Equifax, Experian, and TransUnion. They do not report payments on loans issued in Texas.

As long as you make on-time payments, your OppLoans payment history may help boost your credit score, although there are many easier and cheaper ways to accomplish this goal.

Is Opploans Right For You?

OppLoans is a valid option for credit-challenged borrowers who are facing a financial emergency and need immediate funding. It is a much better choice than predatory payday lenders that charge up to 400% APR on short-term loans.