Oportun review

Oportun offers an ethical approach to payday loans and the opportunity to learn.

Oportun review
(Image: © Oportun)

Top Ten Reviews Verdict

Oportun looks to distance itself from the more unsavory reputation that can follow the payday loan sector, offering transparency alongside a more customer-focused approach. The free financial education courses that are available aim to improve customer understanding and hopefully provide the skills required to secure a better financial foundation going forward.


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    Ethically better than the average payday loan company

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    Competitive rates

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    Access to free financial education services


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    Only operates in 12 states

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Since opening in 2005, Oportun has worked tirelessly to secure its status as a provider of some of the best payday loans. In approving more than 3.8 million small-dollar loans, Oportun estimates that its borrowers have saved around $1.7 billion in interest and fees by choosing them rather than other payday loan lenders.

An online payday loan company, Oportun offers short-term loans of between $300 and $8,000 to those who the financial mainstream might exclude, including borrowers with a limited credit history and low to moderate incomes. Importantly, Oportun wants to lend responsibly, educate its customers, and offers the chance for borrowers to improve their credit scores to stand them in better stead for the future. 

Oportun operate in 12 states - Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Jersey, New Mexico, South Carolina, Texas, Utah and Wisconsin - and also offers auto loans and credit cards

Find a more responsible payday loan at Oportun

Find a more responsible payday loan at Oportun
If you want a payday loan provider who can help you learn more about managing your finances, Oportun could be a good fit. 

Oportun review: Cost of loans

  • Rates of interest are variable
  • Rates much lower than average

Rates of interest are variable down to the individual’s specific financial circumstances and geographic location. For our purposes, we took a quote for a married, 45-year old man with two children and no credit rating. 

We sought to borrow $500 for a total period of six months, to be paid back in monthly instalments. The total repayment quoted was $603, equaling a total charge of $103, which is the equivalent to an Annual Percentage Rate (APR) of 59%. It's by no means the worst APR you will find, but it's always best to shop around for competitive rates, particularly through someone such as Check 'n Go, to keep costs as low as possible. 

To qualify for an Oportun short-term loan, customers must have proof of identity and of regular income as well as some references, a verified address and phone number in one of the states where Oportun operates. Customers do not necessarily need a checking account. 

Opportun review: Products

  • Repayment plans stretching from six months to 46 months
  • Oportun does not charge fees

Oportun offers one short-term loan product, with repayment plans stretching from six months to 46 months. Should you want a wider range of loan options, CashNetUSA is a good choice. If approved, customers can receive your funds either as a check, loaded onto a prepaid debit card, or via direct deposit. Oportun loans does not charge fees or penalties for prepayments. 

Oportun review

(Image credit: Oportun)

Oportun review: How is it different?

  • Does not require a credit score or checking account
  • Website has a good amount of resources that's free to use

Unlike many loan companies, Oportun does not require customers to have a credit score or even a checking account. It does ask for references, proof of address and income, but these are mainly to ensure that the loan repayments are going to be affordable for the customer.

Oportun reports that it works with nationwide credit bureaus so that on-time instalment payments and successful total loan repayments can be shared and used to help customers establish a better credit rating for future loan applications. 

The Oportun website has a good amount of resources, free to use for customers and potential customers. These resources explain loan procedures, go into more detail about establishing credit, and give links to community partners and financial coaching organizations such as Unidos US and Springfour

Oportun: Usability and user reviews

  • Accredited with the Better Business Bureau
  • Generally positive reviews on many of the financial service sites

Oportun has been accredited with the Better Business Bureau since 2016 and has an excellent A+ rating. It receives generally positive reviews on many of the financial service sites. 

It does not have an online calculator like many payday loan companies have, and so the quote process does require customers to enter some personal details. The application process can take as short a time as ten minutes, and funds can in theory be released that same day. 

Should you choose Oportun?

In terms of interest rates and customer service, Oportun is relatively straightforward and easy to deal with, and as a company it espouses only giving loans to those that can afford the repayments, and it looks to have policies in place (such as proof of income) to help make this a reality. 

Its financial education and management resources are free and available to all potential customers, and it works with nationwide credit bureaus to help customers with no or very low credit ratings to establish a more advantageous position for the future. 

A note on payday loans

Regardless of how well packaged a payday loan appears, these are financial products that you should only consider as an option of last resort. Attracting abnormally high rates of interest, payday loans can often lead borrowers to a more difficult financial future and significant debt. Although Oportun adopts a more ethical payday loan approach than most, always consider the alternatives to a payday loan first and take the time to learn about the following options that can also put you on a firmer financial footing. 

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Borrow but also learn through Oportun

Borrow but also learn through Oportun
If you need cash fast, a payday loan from Oportun - and the education that it offers - could be what you're looking for. 

Paul Oswell

Paul Oswell is a US-based freelance writer for the Guardian, Daily Telegraph, The Sunday Times and more. While working for Top Ten Reviews, Paul has written about a broad range of subjects, but many of these concern money and tax. You'll find his bylines on articles from tax software to payday loans to create your own Will software.