Oportun Personal Loan Review
- Easier to qualify for:
pros and cons
You can still qualify for an is right for you.
Pros
- Provides loans to borrowers who may have been turned down by other lenders
- Lower rates than many other bad credit lenders
- Offers free financial coaching and programs to help you save money on common bills
- Can use your car as collateral for bigger loan amounts in some states
- Offers service in English and Spanish
Cons
- Can likely find lower rates elsewhere if you have good credit or better
- Secured loans not available in all states
- If you use your car as collateral and default on the loan, your car could be repossessed
requirements
Credit history
loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with
Applying for an will approve you, and at what rate. It’s not a guarantee that you will qualify when you formally apply, but it’ll give you a good idea.
Prequalification doesn’t hurt your credit, since it only requires a soft credit pull. You’ll typically provide basic information about yourself and your finances, including your monthly income, phone number and home address.
Once you’ve provided the necessary information, you’ll be given a loan offer to review.
With , you can prequalify — and apply — in person, by phone or online. However, be aware that Oportun doesn’t have brick-and-mortar locations in every state where it does business.
Formally apply
If you decide you’d like to move forward, you’ll have to formally apply. This process is like prequalification, but more in-depth. It also requires a hard credit pull, so you may see your credit score go down a few points.
You’ll need to provide the following documentation to get an approves you, you can select a payment plan before signing your loan agreement and waiting for your funds.
You can get your money near instantly if you opt to get it sent to your debit card. You can also receive your money via direct deposit, usually the next business day. Paper checks are also available.
How compares to other personal loan companies
Even if you believe personal loans stack up against Upstart personal loans and Rocket Loans personal loans.
| Lender | Upstart | Rocket Loans | |
|---|---|---|---|
| LendingTree’s rating | 4.33/5 | /5 | 3.7/5 |
| Minimum credit score | No minimum credit score | Not specified | |
| APRs | 7.23% – 24.00% | 8.01% – 29.99% | |
| Loan amounts | Not specified – $125,000,000 | $2,000 – $45,000 | |
| Repayment terms | months | 12 or 84 months | 36 to 60 months |
| Origination fee | None | ||
| Funding timeline | Get money as soon as the same day | Get money as soon as one business day | Get money as soon as the same day |
| Bottom line | may be the easiest to qualify for, since it doesn’t have a credit score minimum. However, you’ll probably find lower rates elsewhere if you have strong credit. | Like , Upstart accepts bad credit. It also has a low minimum APR. This could make it a solid option no matter what end of the credit spectrum you are on. | First Tech requires at least fair credit, but you could enjoy an ultra-low rate of 18.00% even if you just barely qualify. You must join the credit union to borrow. |
How we rated
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
will review other factors, including your current level of debt and how much you make per month.
Oportun lets you check rates without hurting your credit in just a few minutes. If you want to move forward with your offer, you should get an approval decision within 10 minutes.
It depends on which payment method you choose. It can take anywhere from one to three business days to receive the funds through direct deposit. A paper check can take longer.
Get personal loan offers from up to 5 lenders in minutes