{“menuItems”:[{“label”:”Is Oportun in Canada?”,”anchorName”:”#is-oportun-in-canada”},{“label”:”10 loans like Oportun”,”anchorName”:”#10-loans-like-oportun”},{“label”:”How does Oportun work?”,”anchorName”:”#how-does-oportun-work”},{“label”:”How to decide on an Oportun alternative that’s right for you”,”anchorName”:”#how-to-decide-on-an-oportun-alternative-that-s-right-for-you”},{“label”:”Compare other personal lending options”,”anchorName”:”#compare”}]}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 available 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.10 loans like OportunAlternative for fee-free pay advance: BreeAlternative for fast pay advance: NybleAlternative loan broker for fast pre-approval: LoanConnectAlternative loan broker for debt consolidation: Loans CanadaAlternative for emergency loans: GoDayAlternative for fast payday loans: iCASHAlternative for peer-to-peer loans: goPeerAlternative for in-store payday lender: Cash MoneyAlternative for account-linked pay advance: KOHOAlternative for installment loans: LoansLoans.caAlternative for fee-free pay advance: Bree
Bree Early Pay
$20 – $200
Loan amount
Starting at 0%
APR
Next pay cycle
Term
Bree lets you borrow a small amount of up to $200 to help you cover expenses until your next payday. Unlike Oportun, Bree won’t charge any interest, but there is a small fee if you need funding within a few hours.
Easy application process
No credit checks
0% interest and no late fees
Loan amount may not be enough for your needs
Monthly fee for Bree’s budgeting tool
Fee for fast transfers
May not improve your credit, unlike Nyble
Loan amount
$20 – $200
APR
Starting at 0%
Term
Next pay cycle
Interest Rate Type
Fixed
Fees
No interest or mandatory fees
Turnaround Time
Less than eight hours if you pay a $1.99–$6.99 fee or up to three business days.
Alternative for fast pay advance: Nyble
Nyble Credit Line
$30 – $150
Loan amount
Starting at 0%
APR
Flexible
Term
Fill out an application on the Nyble app to borrow between $30 and $150 interest-free. Get your funds within 3 business days or pay a small fee to get it within 30 minutes.
Your limit can increase up to $500 for repeat borrowers
No credit check required
More affordable than payday loans
Membership fee of $4.99 – $7.99 per month to keep the app active
Small loan amounts only
Fee charged for fast money transfers
Loan amount
$30 – $150
APR
Starting at 0%
Term
Flexible
Interest Rate Type
Fixed
Fees
$4.99 – $7.99/month membership fee
Origination Fee
$2.99 – $5.99
Turnaround Time
Within 30 minutes if you pay a fee of $2.99 – $5.99 or within 3 business days if you don’t want to pay a fee.
Alternative loan broker for fast pre-approval: LoanConnect
$500 – $50,000
Loan amount
6.99% – 46.96%
APR
3 – 120 months
Term
Unlike Oportun, LoanConnect is a loan broker 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 $50,000
No collateral required to secure your loan
Interest rates can reach as high as 46.96%
No online quotes provided
Loan amount
$500 – $50,000
APR
6.99% – 46.96%
Term
3 – 120 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Origination Fee
0
Turnaround Time
Receive funds within as little as 24 hours.
Serviced Provinces
All provinces
Alternative loan broker for debt consolidation: Loans Canada
$300 – $50,000
Loan amount
6.99% – 46.96%
APR
4 – 60 months
Term
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 46.96%
No online quotes provided
Loan amount
$300 – $50,000
APR
6.99% – 46.96%
Term
4 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
No application, origination or brokerage fees
Origination Fee
0
Turnaround Time
Receive funds within as little as 24 hours.
Serviced Provinces
All of Canada
⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. If you’re experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
Alternative for emergency loans: GoDay
GoDay Payday Loan
$100 – $1,500
Loan amount
1 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
GoDay offers payday loans you can apply for and get approved for within minutes. Once approved, loan funds can be transferred within minutes. While Oportun offers personal loans, GoDay in contrast offers payday loans, which means you can only borrow up to $1,500.
4.5/5 stars based on over 2,300 Trustpilot reviews
Get loan funds via e-transfer
Apply and get funding 24/7
Very expensive APR
Can easily trap customers in a cycle of debt
Only available in AB, BC, MB, NB, NS, ON, PEI, SK
Loan amount
$100 – $1,500
APR
Varies by province
Term
Up to 62 days
Min. Turnaround time
As little as 2 minutes with INTERAC e-Transfer®
How to apply
OnlineIn Store
Credit Check
Yes
Alternative for fast payday loans: iCASH
iCASH Payday Loan
$100 – $1,500
Loan amount
7 – 62 days
Loan Term
2 minutes
Min. Turnaround Time
iCASH provides quick funding and accepts non-employment income. You can get e-Transfer funding in as little as 2 minutes after approval. Unlike Oportun, iCASH provides payday loans so you can borrow more but at higher rates.
4.8/5 stars based on over 2,100 Trustpilot reviews
Get money within an hour
Get funded 24/7
Payday loans are expensive
Short repayment terms
Only available in AB, BC, MB, NB, NS, ON, PEI
Loan amount
$100 – $1,500
APR
Varies by province
Term
7 – 62 days
Min. Turnaround time
As little as 2 minutes with INTERAC e-Transfer®
How to apply
OnlineIn Store
Credit Check
Yes
Alternative for peer-to-peer loans: goPeer
$1,000 – $35,000
Loan amount
8% – 54%
APR
36 – 60 months
Term
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 54%
Origination fee baked into APR
Loan amount
$1,000 – $35,000
APR
8% – 54%
Term
36 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
650
Fees
Origination fee variesNo application or prepayment fees
Turnaround Time
Receive a response within 24 hours of your loan application
Serviced Provinces
All provinces
Alternative for in-store payday lender: Cash Money
Cash Money Payday Loan
$100 – $1,500
Loan amount
5 – 40 days
Loan Term
15 minutes
Min. Turnaround Time
Cash Money offers higher loan amounts (and higher rates) than Oportun through its payday loans. Get instant approval and funding in as little as 15 minutes when you use the Cash Money app.
Instant decisions
Fast access to funds
Established lender with A+ Better Business Bureau rating
Not available in all provinces
High cost of borrowing
Loan amount
$100 – $1,500
APR
Varies by province
Term
5 – 40 days
Min. Turnaround time
As little as 15 minutes with INTERAC e-Transfer®
How to apply
OnlineIn Store
Credit Check
Yes
Alternative for account-linked pay advance: Koho
KOHO Save
2%
Interest Rate
$0
Account Fee
$0
Transaction Fee
KOHO offers Instant Pay, which allows you to access up to 50% of your pay for every day you work with no interest charge. However, to qualify for Instant Pay you’ll need to sign up for a KOHO savings account with active payroll deposits and get your employer to share payroll information with KOHO.
No interest
Free for employer to sign up
Cheaper than a payday loan
Fast access to funds
Your employer must sign up for it
Min. Age
18
Account Fee
$0
Transaction Fee
$0
Interac e-Transfer Fee
$0
NSF Fee
$0
Alternative for installment loans: LoansLoans.ca
$300 – $1,000
Loan amount
28% – 32%
APR
3 – 12 months
Term
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 $300 and $1,000
The broker fee can be as high as $300
Loan amount
$300 – $1,000
APR
28% – 32%
Term
3 – 12 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
Late payment fee (2.66% per month), $45 NSF fee, broker fee up to $300
Origination Fee
$300
Turnaround Time
Receive funds in less than 24 hours
Serviced Provinces
All of Canada (except Manitoba)
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs as they may vary from our results.
Province
Maximum allowable cost of borrowing
Alberta, British Columbia, New Brunswick, Ontario & Prince Edward Island
$15 per $100 borrowed
Manitoba, Saskatchewan & Nova Scotia
$17 per $100 borrowed
Newfoundland and Labrador
$14 per $100 borrowed
Quebec
Limit of 35% annual interest rate (AIR)
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.Pros of OportunBilingual support. Oportun’s customer support team has bilingual members that speak English and Spanish and its website offers text in English and Spanish.Bank account not required. If borrowers don’t have a bank account, Oportun can deliver loan funds through a cheque in the mail or at a local branch via a prepaid debit card.No collateral required. Oportun offers both secured and unsecured loans, so collateral is optional.All credit welcome. Oportun offers loans to people with bad credit and to those without a credit score.Cons of OportunOrigination fees. Borrowers have to pay an origination fee with an Oportun loan.Repeat borrowing encouraged. Longer terms and higher loan amounts are available to repeat customers, but that can create a cycle of debt.Frequent repayments required. Borrowers may be required to make bi-monthly payments on an Oportun loan.How to decide on an Oportun alternative that’s right for youSince 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.Compare other personal lending options
