Am I eligible to apply for a loan?

To qualify for a loan through the OppLoans website, all applicants must:

  • Live in one of the following states: Alaska, Alabama, Arizona, California, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, or Wyoming.
  • Be at least 18 years old. (19 in Alabama and Nebraska)
  • Not presently be a covered borrower as defined by the Military Lending Act (“MLA”). Due to the changes in the Military Lending Act effective October 3, 2016, the products OppLoans offers are not available to applicants listed as Covered Borrowers in the Military Lending Act database, including qualifying active duty service members and their dependents as defined in 32 C.F.R. § 232.  However, FinWise Bank offers additional loan products through their other partners which covered borrowers may be eligible for. Please see follow this link to see further eligibility requirements for those products.
  • 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.
  • Have a traditional bank account in your name with 90 days of history.
  • Receive their paychecks through direct deposit. (Due to state regulations, residents of New Mexico are exempt from this requirement.)