Oportun – formerly Digit
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Oportun, formerly known as Digit, is a financial services company that provides affordable loans to underserved and underbanked communities in the United States. The company was founded in 2005 by James Gutierrez and is headquartered in San Carlos, California.

Oportun’s mission is to help people who lack access to affordable credit and financial services. The company’s lending model is based on the philosophy that every person deserves a fair chance to build a better future. Oportun believes that a credit score should not be the only factor in determining whether someone is eligible for a loan. The company evaluates each person’s financial profile, considers their income, expenses, and savings, and works with them to create a loan that fits their needs and budget.

Oportun is committed to providing affordable loans to people who may be excluded from traditional financial institutions due to a lack of credit history or a poor credit score. The company understands that many people who need credit the most are the least likely to qualify for a loan from a traditional bank. Oportun provides loans at competitive rates, with payments that fit within the borrower’s budget. The company also offers credit education and financial counseling to help borrowers manage their finances and build a better financial future.

Oportun’s lending model is unique in that it relies on human judgement as well as machine learning algorithms. When someone applies for a loan, Oportun’s system evaluates the person’s income, expenses, and credit score to determine their ability to repay. But the company also considers other factors, such as the person’s employment history, housing stability, and savings. Oportun’s loan officers review each application and work with the borrower to create a loan that fits their needs and budget.

Oportun offers two types of loans: personal loans and auto loans. Personal loans can be used for a variety of purposes, such as debt consolidation, home improvements, or unexpected expenses. Auto loans are specifically designed for people who need to buy a car but have a limited credit history. Oportun’s auto loans can help people establish credit and improve their credit score over time.

Oportun’s loans are available in California, Texas, Illinois, Nevada, Arizona, Missouri, and New Mexico. The company has more than 300 retail locations where people can apply for a loan in person. Oportun also offers online loans, which can be applied for and managed through the company’s website or mobile app.

In addition to providing loans, Oportun is committed to helping people improve their financial literacy and make informed decisions about their finances. The company offers financial education resources, including online courses, workshops, and one-on-one counseling. Oportun’s goal is to empower people to take control of their finances and build a better future for themselves and their families.

Oportun has received numerous awards and recognition for its innovative lending model and commitment to social impact. The company was named to the Forbes Fintech 50 list in 2019 and 2020, and was named one of the World’s Most Innovative Companies by Fast Company in 2018. Oportun has also received recognition for its commitment to diversity, equity, and inclusion. The company has been named a Best Place to Work by the Human Rights Campaign and a Top Workplace by the Bay Area News Group.

Oportun’s impact on the communities it serves has been significant. The company has provided over $9 billion in affordable loans to more than 1.9 million people since its founding. Oportun’s loans have helped people buy cars, pay for education, start businesses, and improve their homes. The company’s focus on financial inclusion has helped to reduce the wealth gap and provide opportunities for people who may have been overlooked by traditional financial institutions.

In conclusion, Oportun (formerly Digit) is a financial services company that provides affordable loans to underserved and underbanked communities in the United States. The company’s lending model is based on the belief that every person deserves a fair chance to build a better future. Oportun’s loans are designed to meet the needs of people who may be excluded from traditional financial institutions due to a lack of credit history or a poor credit score. The company’s commitment to financial education and social impact has helped to empower people to take control of their finances and build a better future for themselves and their families. Oportun’s impact on the communities it serves has been significant, and the company is committed to continuing to provide affordable financial services to those who need them most.