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News & events

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Oportun Financial First Quarter 2023 Earnings Conference Call

May 8, 2023 5:00 pm EDT
Earnings release
HTML PDF
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Presentation
PDF
Financial supplement
SPREADSHEET
10-Q Filing
HTML PDF
XBRL
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Earnings Infographic
PDF
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Oportun Financial Corporation
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View state licenses and notices.
California loans made pursuant to a California Financing Law license.
New Jersey residents: This is an advertisement for a consumer loan.
New Mexico residents: TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL: Customer Experience – Contact Manager, Oportun, PO Box 4085, Menlo Park, CA 94026; 888-408-3020; [email protected]. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, PO Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at 505-476-4885 or visit the website.
NMLS #1671904. Click here for the NMLS Consumer Access Database.

Personal loans information

Lender information: Personal loans in CA, ID, MO, NM and WI are originated by Oportun Inc. NV loans originated by Oportun, LLC. Personal loans in AL, AK, AR, AZ, DE, FL, GA, HI, IL, IN, KS, KY, LA, MI, MN, MS, MT, NC, ND, NE, NH, NJ, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA and WY are originated by Pathward, N.A..

Product terms: Loans are subject to credit approval. Terms may vary by applicant and state and are subject to change. While a prior credit history is not required to qualify, credit reports will be requested and considered for all applicants. Account payment history is reported to select nationwide credit bureaus. Prequalification will not impact your credit score with credit reporting agencies until you submit for final approval. Typical personal loan amounts are $600 to $6,000 for new customers, $2,100 to $8,000 for returning customers, and secured personal loan amounts are $5,800 to $17,300, based on information from previously approved loans which may not represent current terms.

Pricing information: Loan amounts for unsecured personal loans vary by state: loans above $6,000 are not available for first-time borrowers; loans below $3,100 are not available in GA; and loans below $1,600 are not available in HI. A secured personal loan from $2,525 to $18,500 is only offered by Oportun through the personal loan application to qualifying customers in CA subject to certain terms and conditions. For example, an unsecured personal loan of $3,000 would have 52 payments of $81, due every 2 weeks over 24 months, at a 35.95% APR. For example, a secured personal loan of $7,000 in California would have 91 payments of $134, due every two weeks over 42 months, at 34.95% APR. An origination fee will apply and is included in the APR.

Credit card information

Lender information: Oportun® Visa® Credit Card is issued by WebBank. The Oportun Credit Card is open to all consumers, except for residents in CO, DC, IA, MD, WI, and WV. See the Oportun Cardholder Agreement or the Oportun Cash Back Cardholder Agreement for details, including applicable fees. 

Product terms: The credit card is subject to credit approval. Terms may vary and are subject to change. While a prior credit history is not required to qualify, credit reports will be requested and considered for all applicants. Account payment history is reported to select nationwide credit bureaus. Prequalification will not impact your credit score with credit reporting agencies until you submit for final approval.

Pricing information: Credit card loan amounts range from $330 to $1,000. APRs are variable and range from 24.90% to 29.90% as of June 2022.

Customer satisfaction based on quarterly survey results from Q1 2023. 9 out of 10 is based on loan members and 4 out of 5 is based on credit card members. 

Google and Trustpilot reviews are solicited from credit customers only. Google rating is currently based on all Oportun store locations.

Member savings based on average saves of all paying app members in the prior 12 months. Not a guarantee; results will vary based on your income and spending.

Community partners like SpringFour, UnidosUS, and Steady, are not affiliates or agents of Oportun, Inc. or its affiliates. Community partners are optional services and are not partner bank services through Pathward, N.A. or WebBank N.A. Oportun is not responsible for any third-party content and opinions provided by community partners. 

Oportun is not a bank. Oportun offers the direct deposit account (Direct℠) via its bank partner Pathward, N.A., Member FDIC. Oportun also offers personal loans in certain states through its partner Pathward, N.A., and credit cards through its partner WebBank, N.A. 

True Cost of a Loan: Based on research commissioned by Oportun and conducted by the Financial Health Network (FHN), the True Cost of a Loan analysis calculates the expected cost over the life of the loan for nonprime customers and those with little to no credit history, coupling typical borrower behavior and cash flow constraints with loan terms. For the national True Cost of a Loan estimates, FHN analyzed the rates, fees, and terms for payday, installment, credit card, and rent-to-own products for customers fitting the two different credit profiles and calculated the total cost of those products for common loan amounts compared to the cost for those same loan amount from Oportun. FHN considered the loan repayment structure and time frame for each product, borrower income, the potential for rollovers and refinancings, and legal parameters that prevent or constrain borrowing. On a quarterly basis, Oportun calculates the total amount saved by consumers getting unsecured personal loans through Oportun, since 2006, in interest and fees compared to the alternative products. This amount is calculated based on the total figure from the prior study, with information on first-time personal loan borrowers through Q3 2021, added to the results using the new nationwide study with new and returning personal loan borrowers starting Q4 2021. The actual savings for each customer will vary based on specific loan terms and alternative products available in your area. 

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