FAQ

Questions About Your Loan Application

How much can I borrow?

How much can I borrow?

First time borrowers can get approved for up to $1,000-5,000*. Please see our rates/terms section for more information about the type of loan we offer in your state.

Am I eligible for a loan?

We consider a variety of factors when making a decision on your loan. In addition to the information below, you must also meet our underwriting criteria to be approved for a loan or line of credit.

  • You live in one of the following states: Alabama, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Michigan, Mississippi, Missouri, Nevada, New Mexico, Ohio, South Carolina, Tennessee, Texas, Utah, Virginia, or Wisconsin.
  • You are at least 18 years old. (19 in Alabama.)
  • You are not presently a covered borrower as defined by the Military Lending Act (“MLA”). The Military Lending Act prohibits loans to covered borrowers with a MAPR above 36%. At this time, a product is not available that meets the MLA requirements for covered borrowers. If you are not an active duty service member, you may qualify for a loan and are encouraged to apply.
  • You have a regular source of income. If your income is from employment, you have been working for your current employer for at least 3 months.
  • You have a traditional bank account in your name with 90 days of history.
  • You receive your paychecks through direct deposit. (Due to state regulations, residents of New Mexico are exempt from this requirement.)
How will my loan be funded?

How will my loan be funded?

We work hard to offer you fast loan funding. Typically, your personal loan will be deposited in your account as soon as the next business day once your application is approved.**

How does the process work?

How does the process work?

After you submit your application you will know immediately if you may be eligible for a loan.

Next, we’ll generate a loan agreement with all the details, including (but not limited to) interest rate, number of payments, payment amount, and total cost of loan for you to review.

Once you submit your loan agreement for our approval, our team will work quickly to verify key details and process your loan. As soon as your loan is approved, we’ll send a request to your bank to deposit your funds, unless you choose payment by check. We always aim for fast loan funding typically by the next business day.**

Questions About Personal Loans

What is a Line of Credit?

Can I receive an online loan the same day I apply?

How can I get a personal loan online?

What is an installment loan?

What is a payday loan?

What is a personal loan?

Questions About Your Account

How do I change my password?

How do I change my password?

Simply go to our home page www.opploans.com and click the My Account button in the upper right hand corner. Once you login you will be able to select Change Password to complete your password change.

How do I check my balance?

How do I check my balance?

Simply go to our home page www.opploans.com and click the My Account button in the upper right hand corner. Once you login you will be able to view your loan agreement and check your balance.

What if I forgot my password?

What if I forgot my password?

No worries! We’ll help you set a new password for your security. Here’s how:

  1. Click on the “My Account” button in the upper right-hand corner of our site
  2. Click on the “Forgot password?” link
  3. Enter your email and your login information
  4. Check your email for instructions on how to set a new password

Questions About Loan Repayment

Can I refinance my personal loan?

Can I refinance my personal loan?

Refinancing eligibility varies by state, call us at 1-(800) 990-9130 to check your eligibility.

Can I repay early or make additional payments?

Can I repay early or make additional payments?

Yes. Opportunity Financial never charges pre-payment penalties. You can pay off your loan or make additional payments at any time. Simply go to our home page www.opploans.com and click the My Account button in the upper right hand corner. Once you login you will have the option to make an additional payment or pay off your loan in full.

How can I repay my personal loans?

How can I repay my personal loans?

The most popular and preferred method of repayment is through payroll deductions. We also offer other repayments methods, including electronic fund transfer (ACH debit), where we electronically debit your bank account for the fixed amount you owe on each due date.

Questions About Credit Education & Credit Reporting

What do I receive if I complete the online credit education courses?

What do I receive if I complete the online credit education courses?

There are numerous benefits! OppU is a national standards-aligned personal finance curriculum designed to teach essential concepts like saving, budgeting, credit eduction and more. OppU can help you master your money with fun and free videos and quizzes.

Get started with OppU here or check out the Educator’s Guide for curriculum details.

Questions About OppLoans and FinWise Bank

What is FinWise Bank?

FinWise Bank is an FDIC-insured, state-chartered financial tech bank located in Sandy, Utah. OppLoans provides access to credit products to consumers throughout the United States through its partnership with FinWise Bank.

Is this a FinWise Bank loan or an OppLoans loan?

FinWise Bank is the originator of loans in Florida. However, OppLoans has contracted with FinWise Bank to service these loan products. OppLoans will be your single point of contact for all questions or concerns.

What is the relationship between OppLoans and FinWise Bank?

FinWise Bank, member FDIC, is the bank that originates credit products, which are then serviced by OppLoans.

What will show up on my credit report?

Reporting on your account will show up on your credit report as” FinWiseOppLoans” (TransUnion) OR “FinWise/OppLoans” (Non-TransUnion).

Who do I work with if I am approved?

As the servicer of these credit products, you will work directly with OppLoans.

Who do I contact about credit reporting discrepancies?

You may contact our Resolutions Department via e-mail at resolutions@OppLoans.com or by regular mail at:
FinWise c/o OppLoans
ATTN: Resolutions Department
130 East Randolph Street, Suite 3400
Chicago, IL 60601