Best Guide On Oportun Loan Reviews With Pros, Cons

Sometimes we need urgent money but we can’t manage. So, we thought to take a loan but banks and other financial institutes check our credit score to borrow money. And what if our credit score is bad or low then it becomes hard to take a loan.

And here comes loan companies in light who provides unsecured personal loans. And oportun company is also one of them. Oportun is a financial technology company that offers financial services like personal loans, credit cards, saving plans, and investment packages to underserved communities.

But in this post, we are going to see oportun loan reviews. You might have questions like how much loan can you get, how much credit score you need to have to borrow a personal loan from an oportun loan, what are the pros and cons of oportun loan services, how it works, how can you repay your loan, etc.

Don’t worry we have covered everything in detail in this oportun loans review post. So, stay around us to know in depth about oportun company unsecured loans-

In this guide, we will review Oportun loans and provide a comprehensive overview of the pros, cons, and features to help you make an informed decision. Whether you are looking to pay off debt, cover unexpected expenses, or fund a large purchase, Oportun may be an option to consider.

However, it is important to understand the loan terms and conditions, including interest rates, fees, and repayment options, before making a decision.

So, let’s start oportun loans review post-

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Oportun personal loans at a glance

Oportun is a US-based financial technology company that provides affordable loans to underserved communities. It offers unsecured personal loans to help people with low credit scores build credit and achieve their financial goals.

The company uses technology and data analysis to assess creditworthiness and make lending decisions, while also providing educational resources and support to help customers achieve financial health.

Oportun operates in almost every state and has served over 1 million customers. Oportun provides personal loans from $300 to $8,000 with APRs up to 35.99% not higher than then this for 24 months to 60 months. . And your loan amount may vary based upon your location.

Mostly personal unsecured loan amounts are $1,000 to $6,500 for new customers and $2,000 to $9,500 for returning customers. While secured personal loan amounts start from $4,300 to $15,400, based on information from previously approved loans.

And you can also check how much loan you will get based on your state using their oportun loan calculator. Here, you need to enter your state and your credit score and it will show you how much amount with approx annual percentage interest you will get.

Here, you can choose the length of the loan. Remember the sorter your loan length the sorter APR will be. As you increase the loan length from 24 months to 60 months, APR will increase automatically.

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And if you have a car then you can secure your loan with your car title and you will get a higher amount of loan from $2,525 to $18,500. Here, in the image, you can see which car brands and models are accepted to secure your loan at oportun-

But secured personal loans are available in Arizona, Florida, Texas, California, and new jersey right now. An oportun loan will also help you to build your credit score if you repay on time.

For example, an unsecured personal loan of $3,000 would have 66 payments of $70, due every 2 weeks over 30 months, at a 35.95% APR with an origination fee of up to $240 for this loan amount.

For example, a secured personal loan of $7,000 in California would have 91 payments of $134, due every two weeks over 42 months, at 34.95% APR with a possible origination fee of $560 for this loan amount. But before applying for a new loan on oportun you must be eligible for that.

What are the oportun loan requirements or eligibility criteria?

To get a loan from oportun you need to complete these criteria. These are basically oportun loan requirements to qualify for an Oportun personal loan.

Oportun also considers credit history, but they are known to serve individuals who have little or no credit history and use alternative data sources to assess their creditworthiness.

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How to apply for an oportun personal loan?

If you fulfill the oportun loan requirements then you can apply for an oportun personal loan. To apply for an Oportun loan and increase your chances of approval, you can follow these steps:

Apply online-

You can apply for a personal loan online. First of all, you need to visit the oportun official website. Then wither you can click on the personal loan menu button or click on apply now button shown in the image in the upper right corner or lower side in the left corner.

Once you click here, it will ask you for your zip code. After that, it will show another page-

Here, you need to fill in your full information like your name, your birth date, your preferred language to communicate, your email address, and your phone number, and then check the condition box and click on next.

It will ask you some about the offer and then submit your application. Once, your application is approved you will be notified.

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How to get approved for an oportun loan?

Well, there is no requirement of having a good credit score. Oportun company looks for your bill payments habits and more. They don’t concern with your credit score like banks. But if you really want to get approved for your loan from oportun loan then make sure you follow these guidelines-

Remember, approval for a loan is not guaranteed and depends on various factors, including credit history and ability to repay the loan.

How does oportun Loan Work?

Oportun Loans work as a personal loan provider, offering loans to individuals with little or no credit history. They provide unsecured loans with fixed interest rates, and repayments are typically made over a set period of time through regular payments.

Borrowers apply online or at one of Oportun’s brick-and-mortar locations, and if approved, receive funds either in cash or deposited into a bank account. Repayments are typically made on a bi-weekly or monthly basis, and the loan term length and the amount will vary based on the borrower’s income and credit history.

What are the key Features of Oportun Personal Loan?

Here are some details and requirements for an Oportun personal loan:

Eligibility:

To be eligible for an Oportun loan, borrowers must meet the requirements listed in my previous answer.

Application:

Borrowers can apply online or at one of Oportun’s nearby offices.

Credit check:

A credit check will be performed during the loan application process, but Oportun also considers alternative data sources to assess a borrower’s creditworthiness.

Documents:

To apply, borrowers may need to provide proof of income, such as pay stubs, and a valid government-issued ID.

Loan amount:

Oportun provides unsecured and secured personal loans. Unsecured personal loan amount typically ranges from $300 to $8,000, depending on the borrower’s income and credit history.

While for a secured loan, the range is high from $2500 to $18,500. But the secured loan is only available in four states. And your loan amount also depends on your credit score. If you have a good credit score then you can have a higher amount of loan.

Credit score	Loan amount
700-850	$12,000
580 (or below and unknown)-699	$6,000

Interest rates:

Oportun has a high APR( annual percentage rate) for unsecured loans. For an unsecured loan, your APR will be up to 35.99% not higher than this. While for a secured loan, your APR will be low.

And remember if you choose a higher loan length then your APR will be high and for less loan length it will be low. So, make sure you repay your loan on time in fewer months. And if your credit score is also good then your APR will also be lower.

APR for Months in %	Exceptional (750-850)	Very good (700-749)	Good (660-699)	Fair (580-659)	Below 580
24	8.99-33.45	13.49-33.45	23.49-34.45	28.99-34.45	30.99-35.95
36	9.99- 34.45	14.49-34.45	24.49-35.45	29.99-35.45	Fixed
48	10.99-35.45	15.49-35.45	25.49-35.95	30.99-35.95	Fixed
54	11.49-35.95	15.99-35.95	–	–	Fixed
60	11.99-35.95	16.49-35.95	26.49-35.95	–	Fixed

Loan term:

Oportun loan has loan terms ranging from 24 to 60 months. However, your loan term depends on your credit score. If you have a good credit score then you can take a loan for up to 60 months and if your credit score is very low then you will get a loan for up to 48 months only.

Repayment:

Oportun offers a number of ways to make your personal loan payments in person. Plus, we’re always adding new payment locations to make it even more convenient.

Pay from check-

You can pay your personal loan amount to oportun by check also. And for that, you need to simply drop off your check at one of our locations or mail it in.

But make sure you include your loan number on the check memo line. Oportun doesn’t suggest you send any cash in the mail or along with your check.

You can mail your check to the following address:

Oportun
PO Box 2063
Menlo Park, CA 94026

Make a payment on the phone-

Oportun also accepts payment by phone. And if you prefer to make your loan payment over the phone then you can call oportun at 866-488-6090. They will help you to complete your payment.

Even you can set up automatic payments at the same time. And it will be an easy way to manage your personal loan payments.

Pay through your online account

There are two ways to make online personal loan payments. One is from your online account and the second is directly from your bank account.

And for both, you can set up an automatic payment system toward your loan amount on a fixed date every month.

And for that first log in to your account, and fill in the information about your preferred payment method. If you want to pay with a checking account or savings account, you’ll need to provide the account number and routing number. You can also pay with your debit card

Visit an Oportun location near you

You can also make your personal loan payments at an Oportun location. And for that, they accept cash, checks, and money orders.

But always remember to have the exact amount for your payment.

Where can I use this personal loan from oportun?

Taking a loan is your own personal necessity. So, you can use this loan amount where you want like-

You are completely free to spend or use your loan amount. But remember to pay on time to build your credit. Because the tier your credit score the less APR will be for next time for you.

How long does Oportun take to approve a personal loan?

The time it takes for Oportun to approve a personal loan application varies, but in general, the approval process is quick.

Oportun states that once you submit a complete application, you can expect a decision within minutes. If approved, funds can be disbursed either in cash or deposited into your bank account within 1 to 2 business days.

It’s worth noting that the exact approval time can vary depending on various factors such as the amount of the loan, the borrower’s income, credit history, and the time of day the application is submitted.

Is an Oportun personal loan secured or unsecured?

Oportun provides both unsecured and secured personal loans. But they provide secured loans in only four states. So, we can state that majorly they provide unsecured personal loans.

This means that they are not backed by collateral, such as a car or a house, and the lender relies on the borrower’s creditworthiness and ability to repay the loan. With an unsecured loan, the lender assumes more risk, but it also makes the loan process quicker and more accessible for borrowers who may not have collateral.

What is the maximum amount I can borrow from Oportun?

The maximum loan amount from Oportun can vary but typically ranges from $300 to $8,000 for unsecured loans while for a secured loan, you can borrow $2500 to $18,500.

Factors that influence the maximum amount include the borrower’s income, credit history, and ability to repay the loan. It is best to check with Oportun directly for specific information.

What credit score do I need for an Oportun personal loan?

There is no minimum credit score required to apply for an Oportun personal loan, but the company considers a range of factors, including credit history, income, expenses, and ability to repay the loan. It is recommended to check with Oportun directly for more information on their loan requirements.

Can Oportun personal loans affect my credit score?

Yes, Oportun personal loans can affect your credit score. Taking out a loan, making on-time payments, and paying off the loan in full can potentially improve your credit score. However, missing payments, defaulting on the loan, or having a high debt-to-income ratio can negatively impact your credit score.

It is important to make informed decisions and consider the terms and conditions of the loan before applying for a personal loan.

Where do Oportun personal loans stand out?

Oportun personal loans stand out in the following ways:

Customer Support: Availability and Quality of Help

Oportun company provides customer support with live chat, calls, and visiting their store. You can also make them a call at (866)488-6090 or you can write them at hello@Oportun.com also.

You can choose your preferred way to connect. Even you can get connected oportun on their social media handle. Oportun is available on Facebook, Twitter, and LinkedIn as well.

How are the oportun loan reviews & ratings online?

Oportun has more than 60,000 reviews on google and Trustpilot with 5 stars ratings. Let’s have a look at each one-

Oportun personal loan reviews on google

Oportun also has great reviews on google. They have scored 4.8 stars in reviews on average.

Oportun loan review on Trustpilot

On Trustpilot oportun loans review are more than 6,000. 92% of people have given 5 stars reviews on Trustpilot. Here, are some of the oportun loan reviews images from Trustpilot.

As you can see all the oportun loan reviews are the latest as of the date we are publishing this post. While there are some negative oportun loan reviews also. Have a look at the oportun negative reviews-

And there are also some similar oportun loan reviews there. You can acehck all oportun loan reviews on trustpilot.

Where is an oportun loan available?

Oportun loan service is available all across the united state of America. You can also visit their location page to search for your state. Here, is a list of all locations where oportun services like personal loans and credit card services are available.

What are the pros and Cons of Oportun Loans?

Pros and cons are one of the crucial factors of oportun Loans review post:

How do we rate Oportun personal loans?

Oportun personal loans can be rated based on several factors including:

And looking at all these factors we rate oportun 4.7 stars. However, they provide loans for low credit scores but their APR is a little bit high for lower credit scores persons. Rest all the facilities are excellent. Even 9 out of 10 people love to refer their friends to oportun company.

Compare Oportun to other lenders

When comparing Oportun to other personal loan lenders, there are several factors to consider:

It’s important to compare multiple lenders to determine which one best meets your specific financial needs and goals. It’s also important to review the terms and conditions, fees, and repayment options before making a decision.

Conclusion: Is Oportun Loan Right for You?

Whether an Oportun loan is right for you ultimately depends on your specific financial situation and needs.

And if you have a low credit score and want to build your credit score and wanted a loan then oportun can help you out with these two scenarios. They provide loans looking for other compatibilities like income source, ability to pay, bills, and more.

Ultimately, it’s important to carefully consider your financial situation, compare multiple lenders, and review the terms and conditions before making a decision.

It may also be helpful to speak with a financial advisor or loan specialist to determine the best option for you. That was our oportun loans review post including the pros, and cons of how does oportun loan work and many more points. I hope you like this post.