Oportun 2025 Personal Loan Review

Oportun is an online and storefront lender that makes installment loans to applicants with bad credit or limited to no credit history. The lender says it provides loans to other borrowers throughout the credit spectrum, too, but those consumers likely qualify for lower-cost personal loans elsewhere.

This lender is a federally certified community development financial institution, which means it strives toward growing economic opportunity in low-income communities. The lender also offers financial education and a money savings app.

Oportun personal loans at a glance

• Disclosure from OportunDisclosure from Oportun

  This is an advertisement for a consumer loan, subject to credit eligibility. Not available in CO, CT, IA, MA, ME, MD, NY, WV and Washington, D.C. Loans in AZ, CA, FL, ID, IL, MO, NJ, NM, TX, UT, and WI are originated by Oportun Inc. California loans made pursuant to a California Financing Law license. NV loans originated by Oportun, LLC. In all other states, loans are originated by MetaBank, N.A., member FDIC. Terms, conditions, and state restrictions apply. See oportun.com for details.

Where Oportun personal loans stand out

Accepts borrowers new to credit: Oportun says it has a focus on “underserved borrowers and credit-invisible populations.” A credit score isn’t required to get an Oportun personal loan, and a bad credit score doesn’t automatically disqualify a loan applicant.

Small loans available: An Oportun loan can be as small as $300, which is much lower than most personal loans. These loans can be used for small but necessary emergency expenses, like a dental procedure or auto repair. That low minimum makes them an affordable alternative to a payday loan.

Has joint and secured loan options: Loan applicants who don’t qualify on their own may be able to add a co-applicant. Ideally this co-applicant has a higher income and greater disposable income, which could help increase approval odds.

Securing an Oportun personal loan with a vehicle can also increase the likelihood of loan approval or getting a larger loan. The maximum loan amount is $18,500 for a secured loan, with a qualifying, paid-off vehicle as collateral. However, only borrowers in the following states can get a secured personal loan through Oportun: AZ, CA, FL, IL, NV, NJ, TX and UT.

Direct payment to creditors with debt consolidation loans: If you’re using an Oportun loan to consolidate debt, the lender will send loan proceeds directly to your creditors, saving you that step in the process.

Options to choose and change your payment date: Before signing a loan agreement, Oportun says it allows borrowers to choose their payment date. Borrowers can also change their payment date multiple times throughout the life of the loan to accommodate changes in income or expenses.

Where Oportun personal loans fall short

High APR compared to other lenders: Unlike other lenders, Oportun only offers one annual percentage rate, rather than a range of rates. The rate for Oportun loans is below 36%, which is the maximum rate that many financial experts consider affordable. However, it is significantly higher compared with other online lenders whose APRs can start below 10%.

No rate discount: Oportun does not discount rates, which reduces the cost of borrowing. Other lenders offer rate discounts for borrowers who enroll in automatic payments or opt to have their loan proceeds sent directly to their creditors when consolidating debt.

Charges an origination fee: Oportun may charge an origination fee up to 10% of the loan amount. The lender takes this fee from the loan before sending the funds, reducing the amount you’ll receive.

Does not offer large loans: The maximum amount a borrower can get on an unsecured personal loan from Oportun is $10,000. Several personal loan lenders have maximum loan amounts of $50,000 or more.

How to use Oportun personal loans

Do you qualify for an Oportun personal loan?

Loan applicants with thin or no credit history may qualify for an Oportun personal loan. This lender does not offer personal loans to residents in CO, CT, IA, ME, MD, NY, WV, WA or Washington, D.C.

Oportun’s borrowing requirements

• Minimum credit score: None.

• Must have a government-issued ID.

• Must have a Social Security number or Individual Taxpayer Identification Number (ITIN).

• Must provide proof of residency and employment or income.

Oportun’s average borrower snapshot

• Average loan amount: $3,000.

• Average APR: 35.94%.

• Average loan term: 25 months.

• Most common loan purposes: Household or personal needs, paying bills, debt consolidation, building credit, emergencies, car-related expenses and medical needs.

• Average borrower’s monthly income: $4,500.

» MORE: How to get a personal loan

How we rate Oportun

NerdWallet writers and editors rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s how we scored Oportun this year: