Oportun Expands Secured Personal Loan Product To Florida



SAN CARLOS, California, July 13, 2021 (GLOBE NEWSWIRE) – Oportun Financial Corporation (“Oportun”), a financial company and digital platform that provides hardworking people with responsible, affordable and profitable alternatives to paychecks and cars. Title Loans, today announced that it is expanding its secured personal loan product to the state of Florida.

Oportun Secured Personal Loans were previously only available in the state of California. The expansion of the secured personal loan product to Florida is part of the company’s commitment to developing new financial products and services that further its mission of making financial services accessible to people who have traditionally been excluded from the mainstream.

“Just as our traditional personal loans serve as an alternative to payday loans for the borrowers we serve, this new product serves as an affordable alternative to car loans,” said Matt Jenkins, COO of Oportun. “According to the FTC, car ownership loans often carry a three-digit interest rate and are payable in full in a lump sum within two to four weeks.”

By providing secured personal loans, Oportun can serve clients who would otherwise be denied access to available loans. This allows clients to obtain a higher loan amount with a lower interest rate compared to an unsecured personal loan. Oportun Secured Individual Loans offer customers fixed and affordable payments; no prepayment penalties or additional payments; and the ability to build a credit rating. Oportun’s secured personal loans range from $ 2,525 to $ 20,000.

For more information please visit https://oportun.com/

About Oportun
Oportun (Nasdaq: OPRT) is a financial services company that uses its digital platform to provide responsible consumer loans to hardworking people. Using AI-powered models based on 15 years of customer experience and billions of unique data, Oportun has provided over 4 million loans and over $ 10 billion in affordable credit, providing its clients with alternatives to payday loans and car loans. In recognition of its responsibly designed products that help consumers build their credit history, Oportun has been certified as a Community Development Financial Institute (CDFI) since 2009.

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