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Online Personal Loans

Online loans for a better financial future. Our goal is to make sure every borrower has the support they need.

What can I use an online loan for?

Online loans to tackle bills like:

How to Choose an Online Personal Loan Lender

When you’re in a difficult financial situation, an online personal loan from a trustworthy lender can help you regain control of your finances. That’s why it’s important to find the best lender for your needs.

  • Speed: We want to get you back on track as soon as possible. If you meet our eligibility requirements, you’ll know if you’ve been approved for an online loan in minutes. Approved OppLoans applicants may receive their online loan as soon as the same business day.1
  • Affordability: Payday5 Loans average an APR of 400%. The typical APR of an installment loan through OppLoans is less than half the average payday loan.4
  • Customer Service: Don’t just take our word for it, OppLoans is highly rated on Trustpilot and LendingTree for our unmatched customer service.3 Our Loan Advocates want to answer all your questions.
  • Mobile Friendly: Apply for an online loan through OppLoans on your phone or computer. Simply click Apply Now to get started.
  • No Hard Credit Inquiries: Applying for an online loan through OppLoans won’t impact your FICO credit score.2

Three Types of Online Loans to Know About

As you’re looking to take out an online loan, you’ll want to make sure you know the ins and outs. Here’s a breakdown of three different types of online loans you may encounter.

Typical Installment Loans:

  • An installment loan can be used to pay for a large expense like a car repair.
  • Installment loan principals can range from small dollar amounts to thousands of dollars.
  • APRs may depend on the borrower’s creditworthiness, this can range from single to triple digit interest rates.
  • Installment loans are often repaid over months, not weeks.
  • The majority of installment loans are unsecured (meaning the borrower does not have to offer a car or paycheck as collateral).

Typical Payday Loans:5

  • Payday Loans are short-term, high-cost loans.5
  • Payday Loan principals typically range from $100-1,000.
  • Payday Loan APRs can be 400% with terms that are only two weeks.5
  • Payday Loans are often secured by the borrower’s paycheck.5

Typical Debt Consolidation Loans:

  • Debt Consolidation Loans are typically a larger loan secured at a lower interest rate than other debts carried by the borrower.
  • Debt Consolidation Loans are often for higher amounts because they’re meant to consolidate many smaller debt amounts.
  • The APRs of Debt Consolidation Loans are variable. However, debt consolidation loans are only advisable if you can secure a lower interest rate than the interest rate of your other debts.
  • The terms of Debt Consolidation Loans are also variable, but it is often recommended to seek a debt consolidation loan with flexible terms.
  • Debt Consolidation Loans are most typically unsecured.


An online personal loan is a loan made to an individual rather than a business. They are usually sought in order to consolidate debt or to cover emergency expenses. The two main types of online personal loans are “secured” loans and “unsecured” loans.

Secured Loan: A secured loan is one where property is pledged as collateral. For instance, a mortgage is a secured loan with the borrower's house serving as collateral. Should the borrower be unable to repay and default on the loan, the collateral will be claimed by the lending institution as compensation.

Unsecured Loan: An unsecured loan is one where no property is pledged as collateral. The loan is approved entirely on the individual's ability to repay.

Outside of mortgages and auto loans, the majority of online personal loans are unsecured. Because the borrower's credit score is a major factor in determining their creditworthiness, individuals with low credit scores are usually unable to get approved for an unsecured, online personal loan from a bank or traditional lender.

OppLoans leverages cutting-edge technology and customer data to evaluate our customers on a person-by-person basis. We work with our lending partners to tailor products available through the OppLoans Lending Platform toward a customer's ability to repay.

Personal loans can help you achieve many different types of financial goals. Maybe you’re looking for a loan to help consolidate debt from multiple credit cards, or maybe you need to fund an expensive home improvement or car repair. The right online loan may also help you build credit.

OppLoans gives customers the chance to tackle:

Understanding the terms and conditions of a loan is important, no matter your financial situation.

Borrowers should always be clear on the interest rate, repayment terms, and whether or not the lender will run a hard or soft credit check.

We truly care about our customers and work hard to be flexible for each of our customer's unique situations. We want to make sure borrowers get the best loan from one of our bank partners made through the OppLoans Lending Platform.

Unlike some financial institutions (and quite unlike payday loans5), bank partners don't charge origination fees or prepayment fees on loans originated through the OppLoans Lending Platform. Loans originated through the OppLoans Lending Platform charge simple, fixed rate interest and contain no hidden fees.

Loans made by our bank partners through the OppLoans Lending Platform do not base funding decisions exclusively on FICO credit scores or credit history.

Further, OppLoans reports payments to all three major credit bureaus to help borrowers in good standing build their credit history.6

Still have questions? Get in touch

Learn More About OppLoans

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California Disclosures and Privacy Policy | California Consumers can opt-out of the sale of personal information by clicking Do Not Sell My Personal Information.

Applications submitted on OppLoans' website will be originated by one of our lending partners. All loans originated by our lending partners will be serviced by OppLoans.

1Subject to credit approval and verification. Actual approved loan amount and terms are dependent on standard underwriting guidelines and credit policies. Funds may be deposited for delivery to your bank via ACH as soon as the same business day if verification is completed and final approval occurs before 12:00 PM CT on a business day. If approval occurs after 12:00 PM CT on a business day or on a non-business day, funds may be delivered as soon as the next business day. Availability of the funds is dependent on how quickly your bank processes the transaction.

2OppLoans may use credit report information provided by Clarity Services and Experian as part of the application process to determine your creditworthiness. Neither credit inquiry will appear as a hard credit inquiry on your Experian credit report and therefore they will not affect your FICO score.

3Testimonials reflect the individual's opinion and may not be illustrative of all individual experiences with OppLoans. Ratings on third-party websites may periodically change; please check the third-party websites for up-to-date reviews and ratings. Check loan reviews.

4Installment loan amounts typically range from $500 to $4,000. Annual percentage rate (APR) ranges from 160% to 179%. Installment loan lengths range from 9 to 18 months. Example: A $2,000 installment loan repayable in 9 monthly payments with an APR of 160% would have monthly payments of $394.58. Loan amount, APR, and repayment terms may vary by state, please see https://www.opploans.com/rates-and-terms/ for additional information. Not all applicants will qualify for the lowest available rates. Rates are determined and assigned based on creditworthiness. The actual rate for an individual loan will fall within the marketed range of rates. This is an expensive form of credit and you should determine whether our product(s) meets your financial needs.

5According to the Consumer Federation America, a non-profit consumer advocacy group, payday loans range in size from $100 to $1,000, depending on state legal maximums, and carry an average annual percentage rate (APR) of 400%. The maximum APR for a loan offered through and serviced by OppLoans is 179% and loan sizes range from $500 to $4,000. https://paydayloaninfo.org/how-payday-loans-work/

6OppLoans reports customer payment history to the three major credit bureaus. On-time payments may improve credit score.


To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

If you have questions or concerns, please contact the Opportunity Financial Customer Support Team by phone at (800) 990-9130, Monday – Friday, 7 a.m. – 11:30 p.m. and Saturday and Sunday between 9 a.m. – 5:00 p.m. Central Time, or by sending an email to info@opploans.com.


California Residents, view the California Disclosures and Privacy Policy for info on what we collect about you.