What You Will Get At Glance
When urgent expenses arise, finding a personal loan can be a challenge for borrowers with fair or poor credit. OppLoans offers small-dollar installment loans to individuals who may not qualify for traditional bank loans. Its fast approval and emergency access make it a popular option. However, high interest rates and short repayment periods can be drawbacks.
This guide explores lenders similar to OppLoans, their features, and how to compare multiple options to find the best fit for your financial needs.
What OppLoans Is — and What It Isn’t
OppLoans is an online lender that provides installment loans and related credit products to consumers who often have low credit scores or limited options at traditional banks.
Loan amounts typically fall within the small-dollar range, the platform emphasizes speed (same-day or next-day funding is common), and underwriting focuses on income and ability to repay, as well as credit history.
Because OppLoans serves higher-risk borrowers, the effective annual rates can be significantly higher compared to prime personal loans, but they are typically lower than payday loan APRs.
Who uses OppLoans? People who need emergency cash for essentials — car repairs, medical bills, or urgent household expenses — and who don’t qualify for lower-cost personal loans.
OppLoans reports to the credit bureaus and markets itself as an alternative to rollover payday borrowing. That makes it an option for borrowers who need access now and want credit reporting that can help rebuild a history of on-time payments.
What OppLoans Offers
OppLoans specializes in offering online installment loans to borrowers with low or limited credit. Loan amounts typically range from $500 to $5,000, and approval can be obtained quickly, with same-day or next-day funding available.
The platform reports payments to credit bureaus, helping borrowers build a positive credit history. While interest rates are higher than traditional loans, OppLoans are generally more affordable than payday loans.
The lender is best suited for individuals who need immediate funds for emergencies such as medical bills, car repairs, or essential living expenses. It is not intended for long-term financial planning but as a short-term solution for urgent cash needs.
Why People Look for Alternatives to OppLoans
OppLoans fills a real need — but the high cost and short terms make alternatives attractive when they’re available. Common reasons to explore other lenders:
- You qualify for a lower-rate personal loan from a bank or credit union.
- You need a loan amount larger than what OppLoans offers.
- You want longer repayment terms to lower monthly payments.
- You prefer an option that charges lower APRs or includes clearer consumer protections.
- You want an in-person branch or a secured loan option to reduce rates.
If your credit is improving or you have a steady income, shopping around often reveals more affordable options. Using comparison tools that show prequalified rates with a soft credit check helps you see options without multiple hard inquiries.
Read related blog: Banks like OppLoans: Your Guide to Alternative Digital Lenders for Challenging Credit
Banks Similar to OppLoans
Below are 17 alternatives to OppLoans with details about loan amounts, typical approval criteria, and key features. Each option is designed to help borrowers secure financing even with less-than-perfect credit.
Prime or Near-Prime Lenders
These lenders are best suited for borrowers with good to excellent credit, offering lower interest rates.
1. SoFi
SoFi offers loans from $5,000 to $100,000 with competitive fixed rates. There are no origination fees or prepayment penalties. SoFi also offers additional benefits, including financial guidance and unemployment protection. This lender is ideal for those seeking large loans with predictable monthly payments.
2. Best Egg
Best Egg provides loans ranging from $2,000 to $50,000. It is known for a straightforward online process and flexible repayment options. Best Egg is particularly suitable for debt consolidation and home improvement projects.
3. Upstart
Upstart utilizes AI-driven underwriting to evaluate borrowers based on education, employment, income, and credit scores. Loans range from $1,000 to $50,000. Upstart is a good option for borrowers with limited credit history who want fair rates.
Fair-Credit and Improving Borrowers
These lenders provide reasonable APRs for borrowers with credit scores between 600 and 700.
4. LendingPoint
LendingPoint offers loans from $2,000 to $36,500. It evaluates more than just credit scores, considering income and employment stability as well. It is ideal for debt consolidation and personal projects.
5. Upgrade
Upgrade provides loans and lines of credit for fair-credit borrowers. Loan amounts range from $1,000 to $50,000 with fixed rates. Upgrade also offers free credit monitoring and repayment tracking tools.
6. OneMain Financial
OneMain Financial has thousands of branches and offers secured and unsecured loans from $1,500 to $20,000. It is suitable for borrowers who prefer in-person service and flexible repayment options.
Small-Dollar Emergency Lenders
These lenders provide fast access to cash with small loan amounts.
7. Fig Loans
Fig Loans specializes in small installment loans of up to $4,000. Payments are reported to credit bureaus, helping borrowers rebuild credit while addressing urgent financial needs.
8. MoneyKey
MoneyKey offers loans and lines of credit from $500 to $3,500. Its online process is fast, and funding can occur within one business day. It is suited for emergency expenses.
9. Credit Ninja
Credit Ninja provides short-term loans ranging from $500 to $5,000. Approval is quick, and funding is typically the same day. It targets borrowers with limited credit options.
Credit Building and Fairer Terms
These lenders help borrowers improve their credit while providing access to funds.
10. Braviant Holdings
Braviant provides loans to borrowers with limited credit history, utilizing alternative data. Loan amounts vary, and terms are designed to be clear and manageable. It is ideal for rebuilding credit.
11. Reach Financial
Reach Financial specializes in debt consolidation loans ranging from $3,500 to $40,000. The lender offers guidance to manage repayment and improve financial health over time.
12. Fig Loans
Fig Loans also fits this category due to its focus on credit reporting and responsible borrowing. It helps users establish a positive repayment record.
Read related blog: OppLoans Personal Loan: A Guide for Borrowers with Bad Credit
Community and Credit Union Options
These options are best for borrowers willing to work with local institutions or nonprofit programs.
13. Credit Unions
Credit unions often offer small loans with lower rates and financial education support. Membership requirements vary, but they offer community-focused services and flexible repayment options.
14. Nonprofit Lenders
Nonprofit lenders and community programs provide affordable loans with coaching. These loans help borrowers build financial skills and credit history while avoiding high interest rates.
Branch-Based and Secured Options
These lenders provide in-person assistance or collateralized loans to reduce rates.
15. Mariner Finance
Mariner Finance offers loans from $1,000 to $25,000. It combines online convenience with branch support, making it an ideal option for borrowers who prefer personalized assistance.
16. OneMain Financial
OneMain also provides branch access and secured loan options. Using collateral may reduce interest rates and improve approval chances.
17. Universal Credit
Universal Credit offers loans ranging from $1,000 to $50,000 with fixed interest rates. It includes tools to track payments and improve credit over time, making it suitable for borrowers rebuilding credit.
Lenders and Banks Like OppLoans
| Lender | Loan Range | APR Range | Funding Speed | Best For |
| SoFi | $5,000 – $100,000 | 8% – 25% | 1–2 business days | Borrowers with strong credit seeking low-cost, no-fee loans |
| Best Egg | $2,000 – $50,000 | 8.99% – 35.99% | 1–3 business days | Debt consolidation and home improvement projects |
| Upstart | $1,000 – $50,000 | 7.8% – 35.99% | 1–2 business days | Borrowers with limited or nontraditional credit histories |
| LendingPoint | $2,000 – $36,500 | 9.99% – 35.99% | Same or next day | Fair-credit borrowers seeking personalized offers |
| Upgrade | $1,000 – $50,000 | 8.49% – 35.99% | 1–2 business days | Credit building and debt consolidation with tracking tools |
| OneMain Financial | $1,500 – $20,000 | 18% – 35.99% | 1–2 business days | Borrowers who prefer branch support and flexible repayment |
| Fig Loans | $300 – $4,000 | 28% – 36% | 1–2 business days | Small emergency loans and credit-building |
| MoneyKey | $500 – $3,500 | 35% – 99% | Same day | Short-term loans for urgent expenses |
| Credit Ninja | $500 – $5,000 | 19% – 99% | Same day | Quick online small-dollar loans |
| Braviant Holdings | $1,000 – $10,000 | Varies by state | 1–2 business days | Borrowers with limited credit history |
| Reach Financial | $3,500 – $40,000 | 8.99% – 35.99% | 1–2 business days | Debt consolidation with repayment guidance |
| Mariner Finance | $1,000 – $25,000 | 18.99% – 35.99% | 1–3 business days | Borrowers seeking branch access and personalized service |
| Universal Credit | $1,000 – $50,000 | 11.69% – 35.99% | 1–3 business days | Rebuilding credit with structured repayment |
| Credit Unions | $500 – $20,000 | 6% – 20% | 1–5 business days | Lower-cost loans and community-focused lending |
| Nonprofit Lenders | $500 – $15,000 | 4% – 25% | 1–5 business days | Affordable loans with financial education support |
| OppLoans | $500 – $5,000 | 59% – 160% | Same or next day | Subprime borrowers needing urgent funds |
| OneMain Financial (secured option) | $1,500 – $20,000 | 12% – 35% | 1–2 business days | Secured loans with collateral to lower rates |
Conclusion
Banks like OppLoans offer a practical option for borrowers with poor credit who require quick access to funds. While interest rates are high, installment repayment and credit reporting make it a safer alternative to payday loans.
Using platforms like Beem allows borrowers to compare OppLoans with other lenders, ensuring they choose the most suitable loan with manageable terms. Download the app now!
