The installment loans and lines of credit offered by OppLoans are designed to help you cover unexpected costs, like car repairs, family-related expenses, major purchases, medical bills, housing expenses. And in some instances, consumers will use the proceeds to find relief if they’re drowning in debt.
Loans are available in amounts between $1,000 and $4,000, with a repayment period of up to 36 months. This makes it easier to keep up with monthly payments.
Even better, they are unsecured so you won’t put your collateral at risk. This means you won’t lose your vehicle or home if you’re unable to make timely payments.
Another added benefit is the ability to rebuild your credit since payment activity is reported to the credit bureaus. So if you pay on time each month and manage all your other debt responsibly, you’ll start to see an increase in your credit score.
On average, the APR ranges from 99 to 199 percent, but this percentage varies by state. The good news is unlike payday loans, you’ll never receive an APR that exceeds 199 percent.
Depending on your state of residence, your loan may be originated by FinWise Bank, a partner of OppLoans. Here’s a detailed breakdown:
- Installment loans: Alabama, California, Delaware, Georgia, Idaho, Illinois, Mississippi, Missouri, Nevada, New Mexico, Ohio, South Carolina, Texas, Utah, Wisconsin
- Lines of credit: Kansas, Tennessee, Virginia
Loans originated and funded by FinWise Bank: Alaska, Arizona, District of Columbia, Florida, Hawaii, Indiana, Kentucky, Michigan, Minnesota, Montana, Nebraska, North Dakota, Oklahoma, Oregon, South Dakota, Washington, Wyoming