Grace Enfield, Content Writer
@grace_enfield
OppLoans tries to review applications within 24 hours, but it could take 3+ days if they need to manually review any of your information. If your application is approved, it will take a few more business days to receive your funds.
Key Things to Know About OppLoans
- Application Review Timeline: 24 hours - 3+ days
- Funding Timeline: 1 - 3 business days
- Loan Amounts: $500 - $5,000
- APRs: 160% - 195%
- Repayment Periods: 9 - 18 months
- Origination Fee: 0%
- Late Fee: $0
- Prepayment Fee: $0
- Credit Score Requirement: None
- Income Requirement: Annual income of at least $18,000
For more information, check out the full OppLoans by OppFi review on WalletHub. Then, you can estimate your potential rates with our free pre-qualification tool.
People also ask
What does it mean when your OppLoans loan application is in review?
When your OppLoans loan application is in review, it means the company is verifying your information and deciding if you’re trustworthy enough to lend to. OppLoans tries to review loan applications within 24 hours, but it may take 3+ days if they need to manually review your information.
You can see the status of your loan application through your account on the company’s website. If your application has been approved, you’ll receive an email. The funds will then be delivered...
read full answer by Gino Rodriguez, WriterWhat are OppLoans requirements for borrowers?
OppLoans requirements include being at least 18 years old, having enough income or assets to make the monthly payments and owning a verifiable bank account. You don’t need a certain credit score to qualify for OppLoans personal loans.
You can see OppLoans major requirements listed below. Just remember, while meeting all the requirements gives you a good chance of approval, it’s never guaranteed.
OppLoans Requirements for Borrowers
- Credit Score Requirement: None...
Does OppLoans affect your credit score?
Applying with OppLoans does not affect your credit score, as OppLoans only does a harmless soft inquiry into your credit when you apply for a personal loan. When you accept a personal loan offer from OppLoans, however, there's a hard inquiry that will likely lower your score temporarily.
If you decide to get a loan, your credit score will also be impacted by the new loan showing up on your credit report. But as...
read full answer by Rick Bormin, Personal Loans ModeratorDid we answer your question?
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