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.
Resident 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+
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.
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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.
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.
Oportun reviews and complaints
BBB accredited
Yes
BBB rating
A+
BBB customer reviews
2.54 out of 5 stars, based on 39 customer reviews
BBB customer complaints
75
Customer reviews verified as of
16 October 2020
Oportun gets largely negative reviews. Many reviewersstate 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. But some are happy with Oportun’s willingness to approve a loan despite bad credit.
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.
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:
If you received a letter, enter the offer number and your last name.
Create an account.
Enter your name, preferred language and how you heard about Oportun.
Select the purpose of your loan.
Enter your address and when you moved to your current residence.
Enter your phone number, how long you’ve had the number and if you want to receive texts.
Enter your date of birth as well as your ID type, ID number and expiration date.
Select if you’ve filed for taxes and if you have a Social Security number or a tax identification number.
Agree to allow Oportun to obtain a credit report.
Enter your monthly housing bill and information about your bank account.
Enter other debts, if applicable.
Enter information about your source of income.
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 $12,000 , 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
Yes. Oportun will report your payments to Experian and TransUnion. This can help improve your credit score over time, but if you’re late on payments or miss one entirely, it could have a negative impact as well.
Oportun requires that you provide proof of address if you live in one of the following states: Arizona, California, Florida, Illinois, Missouri, New Mexico, Nevada, Texas or Utah.
Oportun states that the name change was influenced by the Spanish word for opportunity. The company’s mission is to provide opportunities to responsible borrowers who may not have other loan options, and the name change reflects that.
Oportun Installment Loans is not currently available on Finder
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Kellye Guinan is a freelance editor and writer, specializing in consumer lending. Her writing and analysis has been featured on Bankrate, MSN and MediaFeed. She holds degrees in anthropology and German language and literature from Middle Tennessee State University.
will be given by Oportun when you have applied for an installment loan.
Generally, their minimum loan amount is $300 and maximum loan amount is $8000. The loan term is from 7.2 to 42 months. The actual computation will be given by Oportun when you have applied for an installment loan. You’ll be able to see information an actual figures on loan amount approved, payment dates and amount of repayments.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this helps and feel free to reach out to us again for further assistance.
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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November 6, 2019
Hello how can I see a chart of your loan amounts and the payment dates and amount of payment.
November 6, 2019
Hi Sandra,
Thanks for getting in touch!
will be given by Oportun when you have applied for an installment loan.
Generally, their minimum loan amount is $300 and maximum loan amount is $8000. The loan term is from 7.2 to 42 months. The actual computation will be given by Oportun when you have applied for an installment loan. You’ll be able to see information an actual figures on loan amount approved, payment dates and amount of repayments.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
May 30, 2019
How do I make a payment online?
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.
Regards,
Jhezelyn