Timely almost doubles its addressable market
SAN CARLOS, Calif., Aug. 24, 2021 (GLOBE NEWSWIRE) – Oportun (Nasdaq: OPRT), an AI-driven financial services and technology company that provides hard workers with access to responsible and affordable loans, announced today it can now offer personal loans in 24 states in total, up from 12 in which the company operated yesterday. Significant expansion makes Oportun available to consumers in Arkansas, Delaware, Indiana, Kentucky, Mississippi, Montana, North Dakota, New Hampshire, Oregon, Carolina from South, South Dakota and Virginia.
“Using AI and alternative data, Oportun has a proven ability to serve consumers who are excluded from the mainstream due to their limited credit history,” said Raul Vazquez, CEO of Oportun. “With approximately 100 million adults in the United States without a credit score or who have been badly rated, the impact is being felt in nearly every community in the United States, and Oportun is acting urgently to help address this. large-scale problem. “
Oportun has successfully provided over 4.3 million loans and $ 10.5 billion in credit, mostly in the form of small dollar loans, saving its clients over $ 1.9 billion in interest and fees compared to other options generally available to people with little or no credit history. By reporting repayment performance to major credit bureaus, the company has also helped over 925,000 people begin to build credit histories.
For more information on Oportun, please visit Oportun.com.
- Personal loans in AZ, CA, FL, ID, IL, MO, NJ, NM, TX, UT and WI are issued by Oportun, Inc. NV loans issued by Oportun, LLC.
- Personal loans in AR, DE, IN, KY, MS, MT, ND, NH, OR, SC, SD and VA are issued by MetaBank®, NA, FDIC member.
Oportun (Nasdaq: OPRT) is a financial services company that leverages its digital platform to deliver responsible consumer credit to hardworking people. Using AI-powered models that are built on 15 years of proprietary customer information and billions of unique data points, Oportun has granted over 4 million loans and over $ 10 billion in affordable credit, providing its customers alternatives to payday loans and auto titles. In recognition of its responsibly designed products that help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.