Opportun Personal Loan Full Review
Looking for an easy-approval loan, with a longer repayment term? Then, you just found the ideal option.
Are you looking for funds to cover some unexpected expenses, medical bills, consolidate debt, or even make a dream a reality? So, you are in need of a personal loan!
Luckily, you just found Oportun, which is offering several personal financing options, including credit lines and loans up to $10,000 with some flexible repayment terms.
Below, you will get in touch with all of Oportun’s rates, advantages, exclusive benefits, amounts, and much more.
More about Oportun
Founded in 2006, Oportun is a fintech which has specialized itself in proving online loans, with a mission to serve underserved communities.
With almost 20 years of operation, Oportun has provided over personal loans for over 6 million Americans, while establishing a credit history for other 1.1 million customers.
Since its creation, Oportun has grown to become a trusted financial institution, offering a diverse range of services to help individuals achieve their financial goals.
With a focus on providing accessible credit, Oportun manages over half a billion dollars on assets across the United States.
How an Oportun Personal Loan Works?
Oportun’s Personal Loans, also known as Consumer Loans, are designed to be efficient. The loan can be requested by the fintech’s website.
Overall, Oportun’s loans were made to provide you with the funds you need quickly and conveniently to cover smaller and median financial needs.
Whether you need to consolidate debt, cover medical bills, or make home improvements, these loans offer a suitable solution.
As today, Oportun offers both secured and unsecured personal loans. Their unsecured loans allow you to borrow up to $10,000, while secured loans provide the option to borrow up to $18,500.
While Oportun’s unsecured loans can be requested by virtually any customers, the secured loans are only available for customers who can provided a vehicle as collateral.
With flexible repayment terms of up to 42 months, Oportun ensures interest rates start as low as 10.74% APR.
Finally, Oportun allows their customers to apply with a co-signer. This is particularly handy for customers with a bad score.
With a co-signer, borrowers with not-so-good score and credit history might end up with lower interest rates.
Oportun’s Personal Loans come with several benefits which makes it stand out among traditional banks.
The loan can be request by virtually any client, with good or bad scored, provide they will be able to repay it.
Oportun also does not charge any prepayment fees, allowing you to pay off your loan ahead of schedule without any financial penalties.
This transparency and lack of hidden fees ensure that borrowers can focus on repaying their loans without incurring unnecessary costs.
Furthermore, Oportun’s 100% online application process simplifies the borrowing experience. By eliminating the need for in-person visits and paperwork, borrowers can save time and effort while applying for a personal loan
While Oportun offers numerous advantages, there are a few drawbacks to consider. It’s important to note that Oportun’s APRs range from 10.74% to 35.95%, which can be relatively high compared to other lenders.
Borrowers with a not-so-good credit score should carefully consider the interest rates and determine if they align with their financial capabilities.
Oportun also charges an origination fee of up to $300 and a returned payment fee of up to $15, which can impact the overall cost of the loan.
It is also important to notice that Oportun’s loans are not available on all 50 states.
Currently, customers in Arkansas, Colorado, Connecticut, Iowa, Maine, Maryland, Massachusetts, Nevada, New York, and West Virginia cannot request a Oportun loan.
How to Apply?
If you’re interested in exploring Oportun’s personal loans further, tap the green button below and get in touch with a step-by-step guide on how to apply to this personal loan.