OppLoans Personal Loans Brand Review

A fairly new player in the personal loan game, OppLoans was formed in 2012. Its aim is to help borrowers who have poor credit ratings, or who haven’t yet managed to build up a decent credit history. In the short time that it’s been active, it's given financial aid to more than half a million customers, many of whom have left decent reviews or even returned for a second loan.

Good Credit Best for
3 /5
$ 500 /mo
Starting Price
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Table of Contents

    Why get a Personal Loan from OppLoans?

    The main draw for this financier is the lack of a credit check when taking out a loan.

    It will, however, check your income, so you’ll need to at least be employed.

    You can change your payment date, receive funding within two business days, and there are no prepayment penalties.

    The lowest amount you can borrow is also attractively low.

    What does OppLoans offer?

    At OppLoans you can take out a loan from $500 up to $4000, great for when you need some quick extra cash, but not if you need a lot.

    It has fairly short maximum repayment terms, but you can’t apply if you're self-employed.

    Eligibility Criteria?

    While there’s no credit check at this lender, there’s still a fair list of requirements to take out a loan.

    You’ll need to have a minimum monthly gross income of at least $1,500, be employed or receiving benefits, and live in one of the following states:

    • Alabama
    • Delaware
    • Georgia
    • Idaho
    • Illinois
    • Mississippi
    • Missouri
    • Nevada
    • New Mexico
    • South Carolina
    • Texas
    • Utah
    • Wisconsin

    OppLoans Pros And Cons


    • Quick funding of your loan
    • No credit check


    • Interest rates are extremely high

    How to apply for an OppLoans Personal Loan?

    You can apply quite easily on the company website, and if you’re denied a loan your credit score won't be affected. You’ll just need to have your relevant information to hand, namely some ID, proof of income, and residence.

    Rates, Terms, and Fees

    Interest rates

    59.00% - 199.00%

    Term lengths

    12 to 18 months depending on the state


    No origination fee, prepayment penalty, or application fee. There’s a late fee, but it isn’t stated how much this will be

    Bottom line

    You can view OppLoans as an alternative to a payday loan. It should be considered only as an absolute last resort, due to the huge rates it’ll charge you with.

    The terms and loan amounts offered are quite brief, but this is a good thing, as any longer or higher and you would end up paying an exorbitant sum in interest. The lack of fees is negated by these costs. It’s also not a service that’s even available to most of the country.

    Even if you’re struggling with your credit score, and need a small loan quickly, there are better options out there. Credible is a great service that’ll allow you to compare loan rates from top lenders.

    While there’s usually a credit check, there’s also the option to use a cosigner, which can help you get around this issue. Plus, rates start at just 4.99%, a fraction of the APRs at OppLoans.