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Oportun installment loans review

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Get funds up to with no credit history or bank account required.

If you have poor credit or don’t have a bank account, you may find it hard to get a personal loan. Oportun offers installment loans for qualified borrowers who need cash quickly and want to use a service that helps no matter your credit score.


Min. Amount


Max. Amount


Product NameOportun Installment Loans
Min. Amount$300
Max. Amount$8,000
Loan Term7.2 to 42 months
Loan SecuritySecured
RequirementsResident of AZ, CA, FL, ID, IL, MO, NV, NM, TX, UT or WI, proof of income and proof of address, Social Security number or tax identification number, valid government-issued ID, ages 18+

What is Oportun?

Oportun is a mission-driven company that works largely with the Hispanic communities of the states it services. Formerly called Progreso Financiero, Oportun offers installment loans to people with thin credit files or who have problems maintaining good credit.

You can apply without a bank account and, if you’re approved, get your funds within a few days. Oportun reports your loan repayments to two of the three major credit bureaus, giving you the chance to build your credit while getting the financing you need.

Loans are available for terms of 7 to 42 months, with longer terms the larger the loan amount.

What are the benefits of Oportun?

  • Bilingual support. Oportun serves both English- and Spanish-speaking customers on its site and customer support team.
  • No bank account required. If you don’t have a bank account but need a loan, you can have your loan funds disbursed via a check or prepaid debit card at any one of Oportun’s locations in your state.
  • No collateral required. Because Oportun fulfills unsecured loans, you won’t have to provide collateral for your loan.
  • All credit welcome. Oportun offers loans to people with bad credit and people without a strong credit history.

What to watch out for

  • Limited number of states. Oportun is only available to residents of 11 states: Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Mexico, Texas, Utah and Wisconsin.
  • Repeat borrowing encouraged. To entice borrowers to take out more loans, longer terms and higher loan amounts are available to repeat customers with a good loan history.
  • Frequent repayments required. How often you make payments depends on how often you’re paid. This means you may be paying back your loan two or more times a month.

More installment loans you can apply for

Check the websites of any providers you’re interested in to confirm they operate in your state of residence.

Updated October 17th, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
As soon as the next business day
Regular source of income received biweekly or semi-monthly, Missouri or Utah resident, checking account with automatic deposits, not a military service member
Borrow up to $1,200 — but only if you live in Missouri or Utah.
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
Same business day to 1 business days
Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
Get a flexible installment loan with fast funding through one easy online application form.
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
As early as 1 business day
$1,000+ monthly income after taxes, valid checking account
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
Varies by state
1 business day
Regular source of income, bank account, US citizen or permanent resident, ages 18+
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.

Compare up to 4 providers

A brief warning about short-term loans

Although short-term loan options are convenient and accessible to people without good credit, they are still risky. This is because many short-term loans, including the installment loans offered by Oportun, are given at a high cost. You may be required to pay $10 to $15 for every $100 you borrow, and oftentimes the cost of the loan will be hundreds or even thousands of dollars more than what you initially borrowed.

Consider browsing our list of short-term loan alternatives before making a decision

Is it safe to apply with Oportun?

Yes. Oportun has a valid security certificate and a privacy policy that outlines what information it collects and how it’s used. In its privacy notice, Oportun states that it may share your personal information for everyday business purposes, for its own marketing and for joint marketing with other financial companies. Unfortunately, you can’t limit this sharing. If Oportun needs to transfer your information to a third party due to a consolidation, sale or other business-related activity, you’ll be notified by the company.

What do borrowers have to say about Oportun?

Oportun has been accredited by the Better Business Bureau (BBB) since 2016 and earns an A+ rating. However, the customer reviews on the site are largely negative. Many state that there have been problems processing payments over the phone and that the late fees charged by Oportun have caused the loan to grow out of proportion to what was initially borrowed.

Hefty penalty charges are common with many short-term lenders. If you aren’t able to make a payment on time, you’ll likely be charged a late fee and excess service fees. Before borrowing any short-term loan, be sure you’re able to handle the high payments due every paycheck.

Customers on other sites rate Oportun decently, and many comment on Oportun’s willingness to approve a loan despite bad credit. Low ratings are largely because of poor communication with customer service and the high interest rate Oportun charges.

Am I eligible?

To apply for a loan from Oportun, you must meet the following criteria:

  • Be a resident of Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Mexico, Texas, Utah or Wisconsin.
  • Have both proof of income and proof of address.
  • Have a Social Security number or tax identification number.
  • Have a valid government-issued ID.
  • Be at least 18 years old.

How do I apply?

Start the application process by going to the Oportun website. Enter your ZIP code and select whether you want to apply by visiting a store, calling or completing an online application. If you choose to apply online, follow these steps:

  1. If you received a letter, enter the offer number and your last name.
  2. Create an account.
  3. Enter your name, preferred language and how you heard about Oportun.
  4. Select the purpose of your loan.
  5. Enter your address and when you moved to your current residence.
  6. Enter your phone number, how long you’ve had the number and if you want to receive texts.
  7. Enter your date of birth as well as your ID type, ID number and expiration date.
  8. Select if you’ve filed for taxes and if you have a Social Security number or a tax identification number.
  9. Agree to allow Oportun to obtain a credit report.
  10. Enter your monthly housing bill and information about your bank account.
  11. Enter other debts, if applicable.
  12. Enter information about your source of income.
  13. Review your application and submit it for preapproval.

Oportun will contact you to provide the necessary documentation and confirm your loan terms.

What happens after I get my loan from Oportun?

Once you’ve got your loan, it’s time to start thinking about paying back what you’ve borrowed. Fortunately, Oportun offers a number of convenient ways to repay. You can visit a store location or pay online, by phone or by mail. You can also pay through MoneyGram or similar money transfer locations.

You can set up automatic payments by calling 866-488-6090 or visiting a nearby Oportun location. This makes it easy to be on time with your payments, helping you build your credit for future lending opportunities.

Since Oportun reports your payments to Experian and TransUnion, it’s crucial that you determine a payment plan that works for you and only borrow the amount you need. Otherwise, late payments could result in a lowered credit score and additional fees.

Bottom line

With loans up to $8,000 , you may be able to borrow the amount you need to cover an emergency that crops up. Oportun provides opportunities for borrowers who don’t have a bank account, a solid credit history or who don’t speak English as a first language.

This sets the company apart from other installment loan lenders, but you should still compare your installment loan options to find the best one for your situation.

Frequently asked questions

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  1. Default Gravatar
    May 30, 2019

    How do I make a payment online?

    • AvatarStaff
      May 31, 2019

      Hello MariaElena,

      Thank you for your comment.

      Other than making payments in person, via phone and mailing a check, yes, you can make payments online. If your bank or credit union offers online bill pay, you can pay online. To make an online payment, follow these steps:

      Sign into your bank or credit union account online and use their bill pay service
      Set up one-time or recurring payments
      Enter Oportun’s company information like the address, the phone number and the loan number found in your contract.

      You may also contact Oportun directly to inquire more about the payment methods. Hope this helps.


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