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Online Personal Loans

Borrowing money online can be done quickly and safely. But it pays to be informed.



If you’re looking for online loans, consider OppLoans for these reasons:


Easy Online Loan App

Online Loans as mobile as you are! Our online personal loan application process is quick, easy and secure.



Approved for an Online Loans through OppLoans? Great! You’ll have money in your account as soon as the next business day, if approved!1


Customer Satisfaction

OppLoans online loans borrowers rate us highly on Google and TrustPilot!3


Build Credit History

OppLoans reports payments to all 3 credit bureaus. So consistent on-time payments on an online loan could help you build credit history!6

What can I use an online loan for?

OppLoans online loans are often used by credit-challenged borrowers when they face bills like:

Types of Lenders

It’s always smart to be informed, particularly when it comes to your money. With that in mind, read on to learn about some of the major categories of lenders offering online loans.

  • Tribal Lender: Some online loan platforms are owned by sovereign Native American tribes. OppLoans is not a tribal lender.
  • Payday5 Loan Providers: Many payday loan providers have moved online. A payday loan is typically a two week loan, secured by the borrower’s paycheck. Payday loans carry an average interest rate of 400%. These high terms and short terms make for an inadvisable combination. OppLoans is not a payday loan provider.
  • Loan Matching Services: Some online loan platforms are loan matching services. This typically means a user can log in and supply some of their financial information to be shown a list of online loan providers that may be able to service them. Some online loan matching services are reputable, others are not. While OppLoans is not a dedicated Loan Matching Service, for customers who opt-into our Turn Up Program, we do check the market for lower cost loans on behalf of applicants with approximately 15 near-prime lenders before presenting options  through OppLoans’ platform.
  • Offshore Loan Provider: There are online loan providers based in other countries, or “off shore.” Typically, these lenders are subject to the rules and regulations of the country in which they’re based. This can increase the risk to borrowers in America. OppLoans is not an offshore lender. OppLoans is based in Chicago, Illinois.

How to Choose a Lender

For those facing financial trouble, an online personal loan from a trustworthy lender could make all the difference. But not all loans are created equal.

Those who need money now should consider:

  • Speed: Many approved OppLoans applicants receive their online loan as soon as the next business day, if approved.1
  • Affordability: Payday5 Loans average an APR of 400%. The typical APR of an installment loan through OppLoans is 160%.4
  • Reputation of Lender: OppLoans online loans borrowers rate us 4.9/5 stars on Google and 4.7/5 star rating on TrustPilot!3

If you decide to apply for an online loan through OppLoans, all you’ll need to do to start is click Apply Now on your phone or computer.

Applying for an online loan through OppLoans won’t impact your FICO credit score.2 If you meet our eligibility requirements, you’ll know if you’ve been approved for an online loan in minutes.1

At any point, if you have any questions, you’re encouraged to call our Loan Advocates. We want to answer your questions!

Types of Loans

Online Loans is an umbrella term that could mean different things to different borrowers and lenders. As with all major financial decisions, you’ll want to understand the ins and outs of any online personal loan before you borrow.

Here’s a breakdown of some typical online loan types and details.

Typical Installment Loans:

  • An installment loan is a type of loan frequently 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 typically 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.
  • Installment loans are frequently unsecured (meaning borrowers won’t need to offer their 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.
  • Typical Payday Loan APRs are 400% and terms are only two weeks.5
  • Payday Loans are frequently 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 that 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.


What is an Online Loan?

Online loans are personal unsecured installment loans offered by online lenders and some traditional banks. Broadly, online credit products may take the form of a line of credit, a cash advance, or other loan options.

Online loan offers should clearly disclose the loan’s APR (annual percentage rate), the term, and any fees such as finance charges.

What can a Personal Loan be used for?

Personal loans can be used for a wide variety of purposes. 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. Also, if you’re looking to turn bad credit into good credit, the right online loan may help you do that.

OppLoans customers have used their loan amounts for:

Whatever your reason for searching online lenders (and whether you have excellent credit, bad credit, or you land somewhere in the middle) there are terms and conditions of the loan that you’ll want to understand. 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.

How are OppLoans Online Personal Loans Different?

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 for them, whether it’s with OppLoans or a different online lender. And if you opt into our Turn Up Program, we’ll proactively see if your loan application would qualify you for a loan at a cheaper interest rate with one of our lending partners.

Unlike some financial institutions (and quite unlike payday loans,4) OppLoans charges no origination fees or prepayment penalties. Our loans charge simple, fixed rate interest and contain no hidden fees.

OppLoans doesn’t base funding decisions exclusively on FICO credit scores or credit history.

We also report payments to all three major credit bureaus to help borrowers build their credit history.6

© 2022 Opportunity Financial, LLC. All Rights Reserved. Use of Opportunity Financial, LLC is subject to our Terms of Use and Privacy Policy.

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 this website may be originated by one of several lenders, including: Opportunity Financial LLC, a licensed lender in certain states; or one of our lending partners. All loans originated by our lending partners will be serviced by OppLoans.

NV Residents: The use of high-interest loans services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

1Subject to credit approval and verification. Actual approved loan amount and terms are dependent on standard underwriting guidelines and credit policies. Funds are typically deposited via ACH for delivery for next business day if verification is completed and final approval occurs before 8:00 PM CT, Monday-Friday. 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. APR ranges from 59% to 160%. Installment loan lengths range from 9 to 18 months. Example: A $2,000 installment loan repayable in 9 monthly payments would have an APR of 160% and monthly payments of $394.58 Rates and terms vary by state. 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 160% and loan sizes range from $500 to $4,000.

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

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