OppLoans Mentioned as Leader in Quality and Innovation Among Small-Dollar Credit Installment Lenders
OppLoans paves the way for non-prime borrowers to get better personal loans with credit education discounts and flexible payment options.
CHICAGO——OppLoans was featured in a recent report by the Center for Financial Services Innovation on Quality and Innovation Among Small-Dollar Credit Installment Lenders. The report is rooted in CFSI’s Compass Principles: “Embrace Inclusion, Build Trust, Promote Success & Create Opportunity.”
CFSI consists of a network of financial services providers that are committed to strengthening consumer financial health, particularly among the traditionally overlooked segments of the financial services market. OppLoans’ core practices are in line with, and often exceed, the standards set forth in CFSI’s “Compass Guide to the Small-Dollar Credit.” High-quality small dollar loans are defined as ones that are:
- Made with high confidence in the borrower’s ability to repay
- Structured to support repayment
- Priced to align provider profitability with success for the borrower
- Created with opportunities for upward mobility and greater financial health
- Transparent in marketing, communication, and disclosures
- Accessible and convenient
- Supportive of the rights of borrowers
OppLoans was highlighted for “designing incentives to promote positive borrower behavior,” including having borrowers opt in for automatic payments to qualify for larger loans at the same rate and “providing online credit education clinics” to educate borrowers on budgeting, credit scores and more.
“We are very pleased to be acknowledged as an innovator and trusted lender. We pride ourselves in having one of the highest customer experience rankings in the industry. We are also proud of having fair terms, credit education discounts and flexible payment options,” said Todd G. Schwartz, Founder & Executive Chairman of OppLoans. “CFSI’s recognition affirms our team’s commitment to our customers.”
Opportunity Financial, doing business as Opportunity Loans, is one of the highest rated online lenders in the industry, providing personal loans with flexible payment options at lower than customary interest rates in this segment. Opportunity Loans is licensed and able to lend in Alabama, California, Delaware, Idaho, Illinois, Kansas, Maryland, Missouri, New Mexico, South Carolina, Tennessee, Utah, Virginia and Wisconsin or arrange loans in Texas and Ohio.
For more information regarding online personal lending options, please visit the OppLoans website at OppLoans.com or call (800) 990-9130.
Opportunity Financial, LLC
130 E Randolph St, Suite 1650
Chicago, IL 60601