GITNUX MARKETDATA REPORT 2024

Opploans Approval Time Statistics

The approval time statistics of OppLoans show that majority of applications are approved within minutes.

Statistic 1

"The average time for many lenders to process an application, including OppLoans, can range from minutes to a couple of days"

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Statistic 2

"Once approved, Opploans sends the funds as soon as the next business day"

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Statistic 3

"OppLoans' APRs are between 99% and 199%"

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Statistic 4

"Borrowers can choose repayment terms from 6 to 36 months"

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Statistic 5

"OppLoans accepts borrowers with a minimum annual income of $18,000"

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Statistic 6

"OppLoans charges late fees, the amounts of which vary by state"

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Statistic 7

"OppLoans does not charge prepayment fees if borrowers choose to pay off their loans early"

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Statistic 8

"They also do not charge origination fees, a feature that separates them from many other online lenders"

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