What bank does OppLoans use? This question is about OppFi

What bank does OppLoans use?

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This question is about OppFi

Grace Enfield, Content Writer

@grace_enfield • 07/22/22 This answer was first published on 07/22/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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OppLoans uses FinWise Bank, First Electronic Bank and Capital Community Bank, among other banks, to originate personal loans. If you are approved, one of the banks will fund your loan, which could be $500 - $4,000 with an APR of 59% - 160%, depending on your creditworthiness. You will need a credit score of no credit score required to qualify.

Banks OppLoans Uses for Personal Loans

For more information, check out the full OppLoans review on WalletHub. Then, you can estimate your potential rates with our free pre-qualification tool.

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What credit score do you need for a RISE personal loan?

RISE does not specify a minimum credit score requirement to get a personal loan, unlike many personal loan providers. Although there isn't a specified RISE credit score requirement, RISE will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.

Keep in mind that RISE will look at more than just your credit score when evaluating your application for a...

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How long does it take to get money from a RISE personal loan?

It takes 1 to 2 business days to get money from a RISE personal loan, in most cases. The RISE loan timeline includes around 1 business day to get approved for a RISE loan and another business day to receive the funds after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.

How to Get Money From RISE as Fast as Possible

...

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Does a RISE personal loan affect your credit score?

Yes, a RISE personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a RISE personal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.

How a RISE Personal Loan Affects Your Credit Score

Hard pull: When you apply for a RISE personal...

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