OppLoans
OppLoans, an OppFi subsidiary, is an online installment lending platform that originates $500-$5,000 personal loans to credit-challenged and middle-income US consumers through state-chartered bank partners, using alternative data underwriting and reporting to credit bureaus.
- Company typePrivate
- Founded2012
- HeadquartersChicago, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What OppLoans does
OppLoans, operated by Opportunity Financial, LLC under the parent brand OppFi, is an online consumer lending platform that originates personal installment loans to credit-challenged and middle-income borrowers through state-chartered bank partners. Founded in 2012 and headquartered in Chicago, the company serves consumers across the United States with loans ranging from $500 to $5,000, capped at a maximum APR of 195% — materially below the typical 400% APR of payday loan alternatives. The platform uses a mobile-first application flow, alternative data-driven underwriting that considers factors beyond FICO scores, and reports on-time payments to all three major credit bureaus to support borrower credit-building. The product suite is segmented into Bad Credit, No Credit Check, Emergency, and Installment loans, plus the OppU financial education platform used for top-of-funnel content and SEO acquisition.\n\nRevenue is generated through interest income on loans originated by bank partners (FinWise Bank, First Electronic Bank, Capital Community Bank) and serviced by OppLoans under a 'Powered by OppLoans' BaaS model in which banks retain origination and compliance control while OppLoans provides marketing, underwriting technology, and servicing. The company employs 251-500 staff and operates exclusively online with no physical branches, distributing via direct-to-consumer digital acquisition (organic search, paid acquisition, social, third-party reviews) and embedded BaaS distribution to partner banks. Backed by an assembled C-suite including a CFO, CTO, COO, CCO, and a dedicated Head of Public Policy, the business is positioned as an institutionally managed, federally compliant subprime lending platform with dual consumer and bank-partner revenue streams.
OppLoans firmographics
Firmographics- Name
- OppLoans
- Legal name
- Opportunity Financial, LLC
- Website
- https://opploans.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- OppLoans, an OppFi subsidiary, is an online installment lending platform that originates $500-$5,000 personal loans to credit-challenged and middle-income US consumers through state-chartered bank partners, using alternative data underwriting and reporting to credit bureaus.
- Ownership category
- akta.pro rank
OppLoans industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Consumer Lending (522291)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)
- akta.pro secondary industry
- Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD)
Keywords
Where OppLoans is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
OppLoans business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Technology or R&D, Marketing or Sales, Personnel, Infrastructure, Others
Revenue model
- Interest Income from Loans: OppLoans generates revenue through interest income on personal installment loans originated by bank partners through the OppLoans Platform. Loans range from $500 to $5,000 with a maximum APR of 195%. The platform charges no origination fees or prepayment fees, with simple fixed-rate interest and no hidden fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Personal Loans $500 - $5,000 |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
OppLoans product offering
Product offeringCore offering
OppLoans is an online consumer lending platform that originates unsecured personal installment loans ranging from $500 to $5,000 through state-chartered bank partners to middle-income, credit-challenged U.S. consumers. Loans are underwritten using alternative data beyond FICO scores, priced with simple fixed-rate interest and no origination or prepayment fees, and repaid on a predictable monthly schedule that is reported to the three major credit bureaus. The company also provides a "Powered by OppLoans" white-label bank-servicing platform that enables partner banks to offer digital credit products with OppLoans' marketing, underwriting, and servicing capabilities.
Product overview
OppLoans, operated by Opportunity Financial LLC, is an online personal lending platform that connects consumers — particularly those with bad credit or no credit — with installment loans originated by bank partners (FinWise Bank, First Electronic Bank, and Capital Community Bank). The core product is the OppLoans Online Personal Loan, an unsecured installment loan ranging from $500 to $5,000 with fixed-rate interest, no origination or prepayment fees, and same-day funding availability. The platform differentiates itself by using alternative data-driven underwriting that goes beyond FICO scores, and by reporting on-time payments to all three major credit bureaus to help borrowers build credit. The product suite includes targeted sub-products such as Installment Loans, Loans for Bad Credit, No Credit Check Loans, Emergency Loans, and Alternatives to Payday Loans. Adjacent to the lending products, OppLoans offers OppU, a financial education platform providing articles, guides, and tools on budgeting, credit building, debt management, and broader financial literacy. The company also operates a bank-servicing platform — a white-label BaaS solution — that provides bank partners with end-to-end origination technology, data analytics, automated underwriting, and customer service capabilities, allowing partner banks to offer credit to credit-challenged consumers while retaining origination and compliance control.
Differentiator
Problem solved
Functional benefit
Brands
- OppU: Financial education platform providing resources, tools, and knowledge to help consumers make informed financial decisions. Includes articles, guides, and worksheets on topics like budgeting, credit building, debt management, and personal finance.
Products and services
- OppLoans Online Personal Loans Unsecured online installment loans ranging from $500 to $5,000 offered to middle-income consumers with bad or no credit, with same-day funding available and fixed simple interest, no origination or prepayment fees, and reporting to all three major credit bureaus.
- Installment Loans Unsecured installment loans through the OppLoans platform with fixed interest rates, predictable monthly payments, and no hidden fees.
- Loans for Bad Credit Personal loans designed for borrowers with bad credit, using alternative data beyond FICO scores and offering credit-building through on-time payment reporting to the three major credit bureaus.
- No Credit Check Loans Loan products for borrowers with no established credit history using a soft credit inquiry for pre-qualification that does not affect FICO.
- Emergency Loans Personal loans intended for unexpected expenses such as car repairs, home repairs, surprise medical bills, or emergency travel, with same-business-day funding available.
- Alternatives to Payday Loans A responsible alternative to high-cost payday loans, offering installment loans with simple fixed-rate interest, no origination or prepayment fees, and transparent terms.
- OppLoans Bank Servicing Platform (Powered by OppLoans) White-label end-to-end origination, marketing, underwriting, and servicing platform for state-chartered bank partners (e.g., FinWise Bank, First Electronic Bank, Capital Community Bank), enabling them to offer digital credit products to credit-challenged consumers while retaining origination, underwriting approval, and regulatory compliance.
- OppU Financial Education Platform OppLoans' financial education platform providing articles, guides, worksheets, and tools on budgeting, credit-building, debt management, saving, spending, and broader personal finance topics for consumers.
Quantifiable outcome
- Maximum APR of 195% vs payday loan average of 400%
- +3 more outcomes
Companies that use OppLoans
Customer profileSegments2 records
Ideal customer profiles2 records
OppLoans technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature3 records
OppLoans partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- FinWise BankcoreFinWise Bank (FW Bank) is a state-chartered financial technology bank located in Murray, Utah. As a lending partner, FinWise Bank originates personal loans through the OppLoans Platform, leveraging OppLoans' technology and servicing capabilities while maintaining regulatory and compliance oversight.
- First Electronic BankcoreFirst Electronic Bank (FEB) is a state-chartered industrial bank headquartered in Salt Lake City, Utah. As a lending partner, FEB originates loans through the OppLoans Platform, utilizing OppLoans' mobile-first customer acquisition and data analytics capabilities.
- Capital Community BankcoreCapital Community Bank (CCBank) is a state-chartered bank located in Provo, Utah. As a lending partner, CCBank originates loans through the OppLoans Platform, participating in the Powered by OppLoans bank servicing model.
Scale indicators1 record
Recent moves5 records
Expansion highlights5 records
OppLoans competitors and assessment
Company assessmentEmerging players
- Earnin: Earnin provides earned-wage access and cash advances targeting hourly workers — overlapping use cases (emergency funding, avoiding payday loans) with OppLoans but using a fundamentally different non-loan model.
- Affirm: Affirm offers BNPL and installment financing at point of sale. While not a direct competitor in emergency/credit-building loans, it competes for the same consumer financing occasions and increasingly overlaps in the underbanked segment.
- Possible Finance: Possible Finance offers small-dollar installment loans to underbanked consumers as an alternative to payday loans. Directly comparable mission and product, but smaller scale and earlier stage than OppLoans.
Direct peers
- OneMain Financial: OneMain is the largest US installment lender to non-prime consumers, offering personal loans typically $1,500-$20,000 with similar subprime underwriting. Closest direct competitor to OppLoans by customer profile and product type.
- LendingClub: LendingClub operates an online personal loan marketplace serving consumers who may not qualify for prime bank products. Direct competitor for unsecured personal loans in the near-prime/fair-credit segment.
- Enova International: Enova operates online subprime and near-prime consumer and SMB lending brands (including NetCredit). Directly comparable online installment lending business targeting credit-challenged consumers, with multi-product portfolio.
- World Acceptance Corporation: World Acceptance provides small-dollar installment loans to subprime consumers through a branch network. Same target customer as OppLoans, similar product structure, though delivered via physical rather than digital channels.
- Prosper Marketplace: Prosper is an online personal loan marketplace offering fixed-rate installment loans to consumers across the credit spectrum. Comparable online D2C personal loan model with similar loan sizes and underwriting philosophy.
- Upstart: Upstart operates an AI-driven lending marketplace partnering with banks to originate personal loans. While Upstart targets a broader credit spectrum, it increasingly competes in the near-prime segment OppLoans serves, with bank-partner origination structure similar to OppLoans.
Others
- FinWise Bank: FinWise Bank is one of OppLoans' core bank partners originating loans through the platform. While not a direct competitor, it is the most strategically intertwined counterparty and representative of the fintech-bank partnership model OppLoans operates within.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
OppLoans social profiles
Digital presenceOppLoans financial estimates
Financial estimateRevenue estimate
Valuation estimate
OppLoans leadership team
Management profileNumber of profiles
Profiles10 records
OppLoans funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OppLoans M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OppLoans
What does OppLoans do?
OppLoans is an online consumer lending platform that originates unsecured personal installment loans ranging from $500 to $5,000 through state-chartered bank partners to middle-income, credit-challenged U.S. consumers. Loans are underwritten using alternative data beyond FICO scores, priced with simple fixed-rate interest and no origination or prepayment fees, and repaid on a predictable monthly schedule that is reported to the three major credit bureaus. The company also provides a "Powered by OppLoans" white-label bank-servicing platform that enables partner banks to offer digital credit products with OppLoans' marketing, underwriting, and servicing capabilities.
Is OppLoans a public or private company?
OppLoans is a private company. It is classified as corporate owned and is currently operating.
When was OppLoans founded?
OppLoans was founded in 2012. It employs 251 to 500 people.
Where is OppLoans based?
OppLoans is headquartered in Chicago, United States, in the North America region.
How does OppLoans make money?
One revenue line is on record: interest Income from Loans.
Who are OppLoans's main competitors?
Emerging players on record are Earnin, Affirm and Possible Finance. Direct peers are OneMain Financial, LendingClub, Enova International, World Acceptance Corporation, Prosper Marketplace and Upstart. FinWise Bank is listed as an others.
Does OppLoans have an API?
No public API is recorded for OppLoans.
What industry is OppLoans in?
OppLoans's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAAAK, Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment), with a secondary code of FSAGALAD, Embedded Lending & Credit (POS, Working Capital, Credit Lines). Its NAICS code is 522291 and its SIC code is 6141.