Oportun Accelerates Nationwide Expansion
Personal Loans Now Available in 33 States, Secured Personal Loans Extended to Texas
SAN CARLOS, Calif., Oct. 06, 2021 (GLOBE NEWSWIRE) -- Oportun (Nasdaq:OPRT), an A.I.-driven financial services and technology company that provides hardworking people with access to responsible and affordable loans, today announced that it is now able to offer personal loans to consumers in 33 states nationwide, up from 24. The nine states added today under its bank partnership expansion with MetaBank, N.A. are Alabama, Alaska, Kansas, Louisiana, Michigan, North Carolina, Oklahoma, Tennessee, and Vermont.
In addition, the company announced that Oportun’s Secured Personal Loan product is now available in Texas, building on its existing markets in California and Florida.
“Our intent is to make Oportun available to consumers in all 50 states, using A.I., alternative data, and stellar customer service to help millions of people access a better financial future,” said Raul Vazquez, CEO of Oportun.
In its 15-year history, Oportun has successfully provided more than 4.3 million loans and $10.5 billion in credit, primarily in small dollar loans, saving its customers more than $1.9 billion in interest and fees when compared to other options typically available to people with little or no credit history. By reporting repayment performance to the major credit bureaus, the company has also helped more than 925,000 people begin to establish a credit history.
For more information about Oportun, please visit Oportun.com.
- Personal loans in AZ, CA, FL, ID, IL, MO, NJ, NM, TX, UT, and WI are originated by Oportun, Inc. NV loans originated by Oportun, LLC.
- Personal loans in AK, AL, AR, DE, IN, KS, KY, LA, MI, MS, MT, NC, ND, NH, OK, OR, SC, SD, TN, VA, and VT are originated by MetaBank®, N.A., Member FDIC.
Oportun (Nasdaq: OPRT) is a financial services company that leverages its digital platform to provide responsible consumer credit to hardworking people. Using A.I.-driven models that are built on 15 years of proprietary customer insights and billions of unique data points, Oportun has extended more than 4.3 million loans and over $10.5 billion in affordable credit, providing its customers with alternatives to payday and auto title loans. In recognition of its responsibly designed products which help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.
About MetaBank®, N.A.
MetaBank®, N.A., a national bank, is a subsidiary of Meta Financial Group, Inc.® (Nasdaq: CASH), a South Dakota-based financial holding company. MetaBank strives to remove barriers to financial access and promote economic mobility by working with third parties to provide responsible, secure, high quality financial products that contribute to the social and economic benefit of communities at the core of the real economy. MetaBank works to increase financial availability, choice, and opportunity for all. Additional information can be found by visiting www.metafinancialgroup.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/525e5312-85ef-404b-b076-a1e305b554f1
Released October 6, 2021