Since 2006, Oportun has helped lower income borrowers establish credit through its personal and secured loans. Unlike payday and installment lenders which can charge APRs in excess of 400%, Oportun’s APRs are capped at 35.99%, which makes its loans more affordable for people with bad credit.
But its loan amounts vary by state and origination fees up to 8% may apply. If Oportun isn’t right for you, these alternatives offer equally competitive rates and in some cases, no finance fees or interest. Like Oportun, many have no minimum credit score requirements and offer fast turnaround on loans – sometimes as soon as the same day.
Chime doesn't offer loans, but if your main concern is having to pay overdraft fees each month, this online bank may have a solution for you. Chime's SpotMe is a no-fee overdraft service that provides up to $200 to cover overdrafts to your Chime Checking account. To qualify, you need to make a monthly direct deposit of $200 or more into your Chime checking account and activate your Chime debit card.
SpotMe only covers overdrafts caused by ATM or debit card transactions and starts with just $20. You can raise this limit with regular deposits and a solid account history, by qualifying for promotional bonuses offered by Chime or by using SpotMe Boost, a program that allows existing members to boost each other's SpotMe protection.
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Direct deposit: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. SpotMe: Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.
EarnIn is a cash advance app that lets you borrow up to $750 of your earned wages before payday with its Cash Out feature. This borrowing limit is significantly higher than most cash advance apps, and unlike payday loans, there are no interest or financing fees to use Cash Outs.
To qualify for EarnIn Cash Outs, you need to be employed, have regular direct deposits and earn a minimum of $320 each pay period. You can transfer $100 a day to a linked bank account or more than $100 per day to an EarnIn card. Regular transfers are available in one to three business days or in minutes for a fee.
Not available in: Connecticut
Pros
No credit check required
No mandatory fees, interest or tipping
Free credit score tracking included
Cash Out more than $100 per day with an EarnIn card
Cleo can save you money over Oportun, with no origination fees and no interest charged on its cash advances. Members can request a cash advance through customer support for free, starting with $40 to $70 advances at first and eventually qualifying for up to $250. Advances are easier to request through the app if you pay the $5.99 monthly subscription fee, which also comes with personal financial management tools.
If you're willing to pay $14.99 per month, you can access credit builder tools, which include a secured credit card, early access to your paycheck and up to $500 in emergency cash advance if you set up direct deposits. And Cleo reports to all three credit bureaus, which can help you build credit if you keep up on your payments.
Available in all states
Pros
New advance available 24 hours after payoff
One-time due date extension
Budgeting and saving tools through app
Build credit with Credit Builder subscription
Cons
$5.99 to $14.99 monthly subscription fee
Non-subscribers must contact customer service to apply for cash advances
$3.99 express fee for same-day funding
Loan amount
Up to $250
Loan Term
Next deposit
Turnaround time
3 to 4 days standard transfer. Same day with $3.99 to $9.99 express fee.
Loan amount
$40 - $250
Turnaround time
3 to 4 days standard transfer. Same day with $3.99 to $9.99 express fee.
Albert is a banking and cash advance app that offers advances up to $250 per pay period. This can come in handy if you need a little cash to tide you over until payday. Albert can also analyze your spending habits to find extra dollars to save for a rainy day, while letting you view all your financial accounts from one place.
To get advances, you must sign up for a free 30-day trial of Albert's Genius feature, which costs between $14.99 and $16 a month. With Genius, you can ask questions and get answers to your financial questions, including student loans, credit cards and budgeting. While it costs money to use, it could help you save in the long run.
OneMain Financial is a highly-rated direct lender that offers secured and unsecured loans for people with bad credit. There's no minimum credit score required to get a loan with OneMain and you can potentially borrow between $1,500 and $20,000 – higher than Oportun's limit of $10,000.
Like Oportun, you can either apply online or go to a local branch if there's one near you. And if you change your mind after seven days, you can return your loan for free. As a bad credit lender, OneMain's rates start at a relatively high 18% APR, but cap out at 35.99% APR. This makes it cheaper than a payday or installment lender, although its loans also come with an origination fee.
Not available in: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont
Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
OppLoans only does a soft credit check that won't affect your FICO score, but its APRs are higher than Oportun, at 179%. While high, it's still lower than what installment or payday lenders charge, and you could get your funds as soon as the same business day after approval.
Like Oportun, OppLoans reports your repayments to all three major credit bureaus, which can help improve your credit score. However, its repayment terms of 9 to 18 months are shorter than Oportun's, which could lead to higher monthly payments – but you could get out of debt faster and repayments coincide with your paycheck.
Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia
Fiona (formerly Even) is a free online connection service that works with borrowers of all credit types. Fiona is connected with a network of 31 personal loan providers, offering loans up to $100,000 — much higher than Oportun's limit of $10,000.
Fiona may be a good option if you want to compare multiple lenders by filling out a single form, and it does just a soft credit check when searching lenders for you. But downside is that you may be inundated with marketing emails and calls from Fiona's lending partners after applying.
Prosper is a P2P lender offering loan amounts between $2,000 and $50,000, with APRs between 8.99% and 35.99% and three- to five-year repayment terms. What makes it different from Oportun is that its loans are funded by traditional investors and everyday people.
Prosper charges a 1% to 7.99% origination fee depending on your credit rating and it can take up to 14 days to get your funds. Prosper doesn't score as highly on Trustpilot as Oportun does, with some customers complaining about hiccups during the application process and long waits.
Not available in: Iowa, North Dakota, West Virginia
If you need more than the typical $500 maximum amount from a cash app, a personal loan from Upstart might be a better fit. Upstart offers loans from $1,000 to $50,000, with rates ranging from 7.8% to 35.99% and repayment terms of 36 to 60 years. Upstart doesn't require a minimum credit score, but average borrowers have scores in the 600 range. The lender weighs factors like your education, income and work history higher than your credit.
Upstart is available in all states, has no prepayment penalties and typically funds your loan within one business day. Its customer reviews are also very positive. However, you may have to pay an origination fee as high as 12% of the loan amount on top of interest charges.
While not a lender like Oportun, MoneyLion is a banking and cash advance app that offers free, no-interest cash advances up to $500 per pay period. This can be helpful if you need to borrow money between paychecks, but you don't want to take out a loan or pay interest on what you borrow.
But you'll need to build up a direct deposit history with MoneyLion before you can access its maximum advance amounts. However, you can potentially increase the amount of your advances up to $1,000 per pay period by opening a RoarMoney banking account – much higher than most cash advance apps.
Available in: Alabama, Arizona, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Maryland, Michigan, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, Utah, Washington, Wisconsin, Wyoming
Pros
No credit check required
No monthly membership fees
Offers a suite of banking services
Cons
Instant transfers can be expensive
Credit builder program costs Free (or $1 to $5 for RoarMoney account) a month
Pattern of customer complaints
Loan amount
Up to $500 or $1,000 with RoarMoney account
Loan Term
Due by your next pay date
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
Loan amount
$50 - $500
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
NetCredit is a bad credit lender with loans reaching up to $10,000. Rates vary by state but appear to range between 34% to 155% APR, which is higher than Oportun, but still lower than most installment and payday lenders. Its repayment terms are from 6 to 60 months, which is longer than OppLoans.
NetCredit doesn't charge prepayment penalties, so you can pay your loan early to save on interest. Like Oportun, it reports on time repayments to the credit bureaus, which can help your credit score. And you can get your money fast too – with approved loans funded as soon as next business day.
Not available in: Colorado, Connecticut, Iowa, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New York, North Carolina, Pennsylvania, Vermont, Virginia, West Virginia
Pros
Terms up to five years
Low 550 credit score minimum
Online prequalification available
Cons
BBB alert
Not available in all states
Hard credit check required to apply
Loan amount
$1,000 - $10,000
Interest rate type
Variable
Loan Term
6 months to 5 years
Turnaround time
1-3 business days
Loan amount
$1,000 - $10,000
Turnaround time
1-3 business days
How does Oportun compare?
Oportun may be a good option for people that don’t have a credit score or a bank account. Instead, you can have loan funds disbursed via a check or prepaid debit card at any one of Oportun’s locations in your state. It also offers bilingual support in English and Spanish.
But unlike other lenders, frequent repayments are required. For example, you may be required to make your loan repayments every two weeks instead of once a month. You may also be on the hook for an origination fee up to 8%.
If you live outside Oportun’s 11-state footprint and don’t want to pay an origination fee, you may want to consider another personal loan lender or use a cash advance app for interest-fee and finance-fee-free payday advances.
Pros
Bilingual support. Oportun’s customer support team has bilingual members that speak English and Spanish and its website offers text in English and Spanish.
Bank account not required. If you don’t have a bank account, Oportun can send a check in the mail or you can go into a local branch to get a prepaid debit card.
No collateral required. Oportun offers both secured and unsecured loans, so you don’t have to provide collateral for your loan unless you want to.
All credit welcome. Oportun offers loans to people with bad credit and to those without a credit score.
Cons
Origination fees. While some states don’t allow origination fees, you could be on the hook for up to 8% with an Oportun loan.
Repeat borrowing encouraged. Longer terms and higher loan amounts are available to repeat customers, but this can create a cycle of debt.
Frequent repayments required. You may be required to make bi-monthly payments on your Oportun loan.
Be wary of payday and installment loans
We didn’t include payday and installment loans as alternatives to Oportun — as they’re considered predatory and come with sky-high interest rates that can exceed 400% APR.
Consider that:
A typical $375 payday loan comes with $520 in fees because of repeat borrowing.
The average APR on a payday loan can reach as high as 650% in states with no protections against predatory short-term lenders.
While payday loans are designed for one-time emergency expenses, about 70% of borrowers use them for recurring costs like utilities and bills.
Most payday loan borrowers stay in debt for at least 11 months.
If you just need small amounts of cash to tide you over between paydays, consider taking a look at the best cash advance apps.
Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio
Kat's expertise
Kat has written 198 Finder guides across topics including:
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