Loans like Oportun

Since 2006, Oportun has helped lower income borrowers in the US establish credit through its personal and secured loans. Unlike payday lenders which can charge APRs in excess of 300%, Oportun’s APRs are capped at 35.99%, which makes its loans more affordable for people with bad credit.

Since Oportun is not available in Canada, these alternatives offer equally competitive rates and in some cases, no finance fees or interest. Like Oportun, many have no minimum credit score requirements and offer fast turnaround on loans – sometimes as soon as the same day.

Is Oportun in Canada?

No, Oportun is not available in Canada, but is only offered to US residents. The company is based San Carlos, California and has offices in every state across the US. Oportun hasn’t given any indication that it plans to expand into Canada.

Personal loans like Oportun

• Alternative loan broker for fast pre-approval: LoanConnect
• Alternative loan broker for debt consolidation: Loans Canada
• Alternative for installment loans: LoansLoans.ca
• Alternative for peer-to-peer loans: goPeer

Alternative loan search platform for fast pre-approval: LoanConnect

8.5 Great

Go to site

$500 – $60,000
Loan amount

8.99% – 35%
APR

3 - 120 months
Term

• Info
• Pros + Cons
• Details

Unlike Oportun, LoanConnect is a loan search platform that maintains a large database of lenders and matches you with several offers based on your unique profile. Get your loan as soon as the same day.

• Easy online application
• Quick deposits
• High loan amounts of up to $60,000
• No collateral required to secure your loan

• Interest rates can reach as high as 35%
• No online quotes provided

Loan amount	$500 – $60,000
APR	8.99% – 35%
Term	3 - 120 months
Min. credit score	300
Fees	No application, origination or brokerage fees
Origination fee	0
Turnaround time	Receive funds in as little as 24 hours.
Serviced provinces	All provinces

Alternative loan broker for debt consolidation: Loans Canada

8.5 Great

Go to site

$250 – $50,000
Loan amount

9.99% – 35%
APR

3 - 60 months
Term

• Info
• Pros + Cons
• Details

Loans Canada is another broker option that offers loans for all types of borrowers, including people with fair or bad credit. Fill out an application to get matched with lenders that are open to financing you.

• Easy online application
• Quick deposits
• High loan amounts of up to $50,000
• No collateral required to secure your loan

• Interest rates can reach as high as 35%
• No online quotes provided

Loan amount	$250 – $50,000
APR	9.99% – 35%
Term	3 - 60 months
Min. credit score	300
Fees	No application, origination or brokerage fees
Origination fee	0
Turnaround time	Receive funds in as little as 24 hours.
Serviced provinces	All of Canada

Alternative for installment loans: LoansLoans.ca

Go to site

$500 – $1,000
Loan amount

28% – 32%
APR

3 - 12 months
Term

• Info
• Pros + Cons
• Details

LoansLoans.ca offers fast short-term installment loans with no credit check. NCR Financial, the company that operates LoansLoans.ca, has been in business for over 15 years and is registered in Quebec.

• Apply online and get approval within one hour
• Interest rates can reach as high as 32%, which may be lower than Oportun
• Services: All of Canada (except Manitoba)

• Small loan amounts between $500 and $1,000
• The broker fee can be as high as $300

Loan amount	$500 – $1,000
APR	28% – 32%
Term	3 - 12 months
Min. credit score	300
Fees	Late payment fee (2.66% per month), $45 NSF fee, broker fee
Origination fee	$300
Turnaround time	Receive funds in less than 24 hours
Serviced provinces	All of Canada (except Manitoba)

Alternative for peer-to-peer loans: goPeer

8 Great

$1,000 – $35,000
Loan amount

8.99% – 34.99%
APR

36 or 60 months
Term

• Info
• Pros + Cons
• Details

goPeer is a peer-to-peer network that lets Canadians borrow from other Canadians instead of big lenders. Keep looking if you have bad credit because, unlike Oportun, goPeer only offers loans to borrowers with good to excellent credit.

• Anonymous application
• 15-day grace period for unexpected events
• No prepayment penalties

• High credit score required
• Rates as high as 34.99%
• Origination fee baked into APR

Loan amount	$1,000 – $35,000
APR	8.99% – 34.99%
Term	36 or 60 months
Min. credit score	700
Fees	Variable origination fee (included in APR) Unsuccessful payment fee of $50 No application or prepayment fees
Turnaround time	Response within 24 hours
Serviced provinces	All of Canada

Dive deeper: Have time? Compare 40+ personal loans

How does Oportun work?

Oportun may be a good option for US residents that don’t have a credit score or a bank account. It disperses loan funds between $300 and $10,000 via a cheque or prepaid debit card at any physical Oportun location. Oportun offers bilingual support in English and Spanish.

But unlike other lenders, frequent repayments are required. For example, borrowers may be required to make loan repayments every two weeks instead of once a month. Oportun also charges a loan origination fee.

If you’re looking for a Canadian alternative that offers a similar loan product, you may want to consider another personal loan or payday loan lender or use a cash advance app for interest-fee and finance-fee-free payday advances.

How to decide on an Oportun alternative that’s right for you

Since Oportun isn’t an option for us Canadians, it’s important to decide on the right alternative for your needs.

You’ll first need to decide what type of loan to apply for given how much you need. If you need just a small amount to get you through to the next payday, consider a pay advance loan from Nyble or Bree.

If you need to borrow a larger amount and your credit score isn’t in great shape, consider bad credit personal loans from brokers like LoanConnect and Loans Canada or installment loans from lenders like LoansLoans.ca.

It’s usually best to avoid payday loans when possible because they’re one of the most expensive borrowing options on the market and can easily trap borrowers in a cycle of debt.