OppLoans Reviews

Updated May 13, 2021

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4.1
76%
Recommend to a Friend
87%
Approve of CEO
OppLoans CEO Jared Kaplan
Jared Kaplan
159 Ratings
Pros
  • "I have never been so happy in a work environment it’s truly unbelievable(in 19 reviews)

  • "Company culture and work life balance(in 11 reviews)

  • Cons
  • "The company is growing very fast and it was a little cramped at times(in 6 reviews)

  • "Upper management is SO out of touch it is ridiculous(in 5 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
    1. 5.0
      Current Employee, more than 3 years
      Featured Review

      Great opportunities at Opploans

      Mar 8, 2021 - Operational Risk Manager in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Opploans values internal mobility and managing people up - through exceptional leaders & their support, I've been able to advance from an entry level loan advocate to an integral part of corporate in less than 5 years time! Even after transitioning to the team, my managers have always let me know that if I'm interested in other areas of the business, they will try to put me on projects where I'm able to gain more exposure and experience in that area of interest. Support while working from home - we've been incredibly lucky that we have maintained growth as a company through the pandemic & Opploans helped me transition smoothly to 100% WFH by offering resources through our Fringe platform, reimbursement for work related necessities such as wifi, office furniture such as desk or chair, and they are even able to overnight tech related equipment as needed. Interesting projects to work on - one of my personal desires in a job is to stay busy and motivated/challenged. I don't feel as though I'm able to reach my full potential when I'm micromanaged or bored with my work. The trajectory of Opploans as a company brings soooo many new exciting & challenging projects to work on. No two days are ever the same since I have transitioned into my role on corporate - I love the complexity & uniqueness of each project I work on! Connection to leadership - they hold office hours for employees to discuss issues and solutions with them to promote the open door policy (which a lot of companies say they do, but then really don't). Also, within the corporate structure, it's reassuring to know that if I need leadership's attention or presence to discuss an issue, I am confident in inviting them to meetings or adding them to emails and know they will actively engage in the conversation or project. At some companies leadership feels unreachable or not accessible because they are 'too busy' for the day-to-day. At Opploans, the leadership team is actively involved in so much that we do!

      Cons

      I don't think I have any overarching cons about the company. Whenever there are difficult conversations to be had or decisions to be made, we are good about coming together, gaining everyone's POV, and making informed decisions for the business as a whole. I truly enjoy working alongside all of my coworkers to make Opploans the best company that it can be!

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      2 people found this review helpful

      OppLoans Response

      Thanks for taking the time to post such a comprehensive review. We will keep trying to create the best workplace for our employees! CEO, Jared

    2. 5.0
      Current Employee, more than 1 year

      1 year down, many more to go!

      Apr 20, 2021 - Quality Manager in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      At this stage in my career, I was looking for an opportunity to make a difference in the community I am from. I was drawn to OppLoans due to their commitment to financial inclusion. The work the organization is doing is helping people build a solid financial foundation and I am proud to be a part of that.

      Cons

      Although I don't see this as a con, If you don't like constant change, this will not be the environment for you. As an organization, we pivot quickly. OppLoans employees must be ok with change management.

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      OppLoans Response

      Thank you so much for your sharing your experience at OppLoans. We’re thrilled that you can see yourself with us for many more years and we're lucky to have you on our team as we strive to achieve our goal of financial inclusion for everyone. I especially appreciate you highlighting the amount of change our organization is experiencing. The pace of change can be exciting and we are continuing to hone our focus on change management so support all of our employees through the upcoming changes, and we recognize it's not for everyone. Looking forward to partnering with you more in the years to come. Michelle Y Bess, VP of Talent & DEI

    3. 1.0
      Current Employee

      Avoid at all costs if you value mental health

      Apr 24, 2021 - Corporate Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Compensation is OK but it's not really worth it.

      Cons

      Every team at every company is different, but here are some highlights of working on the finance team at Opploans: The workloads are so huge that you have no choice but to be constantly online if you want to have any hope of keeping up. You work for an executive who so obviously has his favorites and doesn't see much worth in anyone else. At least a few of my teammates have said that they haven't been able to take a single day off so far this year, and close to a third of the year is over.

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      6 people found this review helpful

      OppLoans Response

      Thank you very much for your feedback and I fully appreciate your concerns and feelings. The team’s well-being and mental health is of paramount importance to me as the leader of the Finance department and I take full accountability for the experience you’ve had to date. I acknowledge that the workload has become very intense this year across the department given our recent announcement to go public and I commit to taking actions to alleviate the workload. Separately, I deeply value all team members equally, though I have had to re-allocate my time to focus more on the areas that are directly related to the transaction. Our department cannot function without any of our team members and I do not believe any one member is more important than others; however, I can see how you may have felt that way. I will do a better job of communicating directly and connecting with all team members going forward. In the meantime, if there is something you’d like to connect about, my virtual and literal door is always open. I welcome the chance to connect with anyone on my team. I also apologize for putting you in a situation where your mental health and well-being were compromised. I would like the opportunity to discuss this further with you as achieving work life integration is a priority for me and the company. Please reach out to me any time, as your well-being is more important than any business success. Shiven Shah, CFO

    4. 5.0
      Current Employee, more than 1 year

      Better than I could imagine

      Feb 5, 2021 - Operations in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I was searching for a better company culture when I came to Opploans. I was a little skeptical because Opploans sounded too good to be true. Everything I read was true. The company truly cares about its employees and goes to great lengths to get feedback and ensures employees from all departments, levels, and backgrounds are heard. Opploans invests in resources and benefits for the employees and the company is always seeking for ways to improve the employee experience. Everyone cares about the customers and their coworkers. I feel supported everyday by my peers and my boss. Company values are not just there for show, employees demonstrate the values everyday and the company recognizes those who embody them. I am incredibly proud of what Opploans is doing to provide a better financial path for customers and I love that my work makes an impact. The executive team is all incredibly talented and transparent. I couldn’t imagine a better company to work for - great culture, great coworkers, great benefits, strong executive leadership and a mission that I believe in - this company has it all.

      Cons

      It is a growing company so that comes with change, but if you are not changing you are dying. I like the fast pace and constant innovation. There is some work to be done for better change management but leadership acknowledges that and is working on it.

      1 person found this review helpful

      OppLoans Response

      Chief People Officer

      Thank you for your feedback! We're so glad to hear that you went from "too good to be true" to better than you could have imagined. Our goal is to care for our employees the way that we care for our customers, and it's awesome to know that you see some of that already. Love your comment about change and you're right, we still have work to do on the change management front. We will continue to do a better job on the what, why, and how behind the changes we make with better communication and planning. Thank you for all that you do to make OppLoans a great place to work. Karishma Patel Buford, Chief People Officer

    5. 3.0
      Former Employee, more than 5 years

      Dissapointed

      May 10, 2021 - Interactive Designer in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Excellent benefits and perks, steady work for an organization on the move, colleagues with real talent/passion and a great work atmosphere in general.

      Cons

      As this company grows it is experiencing expected growing pains but some folks in management lack the ability to stand their ground and support those that work for them. I've recently experienced problems at home and those matters generally bleed over into work and visa versa. And instead of lifting me up leadership fell short and threatened me with a performance improvement plan. Too little, too late. My personal issues weren't the real problem merely an excuse for my termination.

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      3 people found this review helpful
    6. 5.0
      Current Employee, less than 1 year

      Purpose Driven and Innovative Company!

      Mar 3, 2021 - Anonymous Employee in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      OppLoans is the best company I have worked for in my career. Leadership is innovative, inspiring, and dedicated to doing right by not only our customers, but our employees as well. The work we are embarking on and the future of our company is purpose and value driven. Working at OppLoans is about more than just the paycheck, although the pay and benefits make any employee feel valued and appreciated. The culture of the company is what really stands out though. I hear yes more than I hear no when bringing up new ideas. Our culture cultivates creativity and innovation. We are a mid size company with a strong trajectory ahead, but still have the personal touch of a small start-up. It truly is an amazing place to work.

      Cons

      No cons at all! We do experience challenges of moving and growing very quickly, but that is to be expected given the success of our company.

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      1 person found this review helpful

      OppLoans Response

      Chief People Officer

      You’re feeling the Dare to Win that’s in our DNA! Even as we grow, we want to make sure we sustain that value and stay true to who we are as a company. Great advice on continuing to inspire at every level. We have some work to do on that front and that’s the plan for our leadership development programs this year. Karishma Patel Buford, Chief People Officer

    7. 1.0
      Current Employee, more than 5 years

      Positive Reviews are fake

      May 13, 2021 - Loan Advocate Supervisor in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Not having to deal with the COO in person

      Cons

      This place has fallen down the hill fast. I fee so bad for the Loan Advocates that work here. The Loan Advocates complain so much about upper management. The sad thing is there isn't much we Supervisors can do about it. We too are being forced to micro mange the loan advocates. We recently had gone through a training to inform the LA's of the terrible bad news of their pay increases. Upper management knew that it was a bad deal but they wanted us to be the barer of bad news. They claim that the LA's were well aware of their progress and that our metrics are fair and accurate. They are not, and they know it as well as the Sups and LA's. We are ALL scared for our jobs. We have to soon meet with the COO to discuss our teams, and basically who needs to be watched so that we can start firing people eventually. The Loan Advocates really need a union. The only way upper management would be fair is if all the LA's stopped working. They are the most stressed out department but are treated so unfairly by upper management. If the LA's try to speak out they will be targeted if they have an idea who did it. It's happened. Upper management had an open channel that the entire floor could read. THE LA's all saw your condescending remarks. The COO is complacent in his tirade in seeking out new ways to get rid of LA's and hire newer LA's at or below minimum wage so that they can cut costs. Upper management will be ending the LA's yearly increase which is what they recently did, all while including the requirements for barely 50 cents based on impossible metrics. They want to move the company towards high performers but LACK the technology to PROPERLY do so. This company is moving so fast every new change is sloppy. They do NOT care about LA's. The main reason why overtime is cut is because the LA's were making too much money. Opploans does not believe that LA's should be making 70k and above. Ironic because majority of the LA department is minorities. Now you want to decrease their pay, and make their job harder because they aren't corporate.

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    8. 5.0
      Current Employee, less than 1 year

      Best company I ever worked for!

      Dec 8, 2020 - Current Employee - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I joined OppLoans during the pandemic and right off the bat I realized they are doing a great job. They care about their employees as much as they care about their customers. They have put a lot of emphasis on DEI and they’re continuously educating employees about this matter. There’s definitely room for improvement to hire more minorities at the corporate level though. Honestly, I can’t wait to start working a few days a week at the office and meet my coworkers in person! They also try to make it easier to WFH by providing a $300 reimbursement for office supplies. Everyone is always willing to help and answer all my questions, from the IT department to finance everyone has been kind and helpful since I started here. This is a company that’s growing rapidly and they make it a priority to hire internally before posting the jobs online. There’s definitely room for professional growth and you learn a lot about the business. Benefits are great overall.

      Cons

      They only recognize 6 holidays during the year. For this industry I’d say they are just below the average when it comes to PTO but hopefully we will some improvement for 2021.

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      2 people found this review helpful

      OppLoans Response

      Chief People Officer

      Thank you for your feedback! It's so awesome to know that you see our efforts on the DEI front and yes, we are still early in our journey and have a lot more work to do in terms of hiring and our people practices/programs. It's also amazing to know your colleagues are "Holding the Door" for you as it sounds like you onboarded virtually so living this value has been even more critical this year. We are excited for you to have the in-office experience at Pru very soon! You are absolutely right on PTO, which is why this morning we rolled out our brand new Flexible PTO Program with a focus on employee wellness. Check it out! As always, I welcome your ongoing feedback and feel free to reach out to me anytime. Karishma Patel Buford, Chief People Officer

    9. 4.0
      Current Employee, more than 3 years

      Grateful to experience a constructive culture although there’s space for improvement

      Apr 27, 2021 - Loan Advocate in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      More structure, benefits, leadership driven to scale, having group sessions. Not being laid off during a pandemic which shows how smart leadership was to anticipate/prepare for something of this magnitude. Grateful to still be employed

      Cons

      Some mangers with poor active listening skills and who struggle to know when to switch from being task oriented to acknowledging a VALID issue. Especially when measurements are inaccurate due to system faults and glitches and poor tracking of variables. My only frustration is a change in metrics created during a pandemic for hard sales yet we are not that. We have no control on how and what applications we are getting and yet are being held to a measurement that isn’t realistic. (I use to enjoy going after leads in the past)... the process has changed which is understandable but your measurement of productivity needs to match that, especially during the pandemic when majority of LA’s have been severely affected. Our commissions have been hit. We stay because we believe in the company. The last con would be the nature of the beast of scaling and AI automating which is impacting applications landing in loan advocates Q. (Another knock to LA’s)...... the feeling can be that this financial squeeze can be an attempt to get people to leave on their own!

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      OppLoans Response

      Chief Operating Officer

      Thank you so much for the very thoughtful and balanced feedback. We're also very grateful that we did not have any layoffs during the pandemic and are excited about getting back to growth mode as we start to come out of it. We would love feedback on the management team. We continue to work on management training and coaching, and your feedback will help us improve. Please bring specifics to any leader you feel comfortable speaking with - your manager, Ernesto, Ansu, Maggie, or me. Our evolution to a more performance-based culture with new metrics (and systems to track these) was truly necessary as we grow the company and especially as we went into a fully remote work environment where it became impossible to "manage by sight". We will always be 100% transparent into why we track the metrics we track, how they are calculated, and most importantly, that they represent a good balance between customer service, efficiency, effectiveness, and results. Our goal with automation has always been to allow the customer to choose whether they want to "self-serve" through the application process or to speak with a live person, and to grow our application and loan volume at a slower rate than we grow the advocate team. As the volume in our core business returns to pre-pandemic levels and as we launch and scale our SalaryTap and OppFi Card businesses, we will need all of our existing advocates (and more) to keep up with the growth. Thank you again for your feedback. I enjoy trying to address your valid concerns, so please keep them coming. Sal, COO

    10. 5.0
      Current Employee, more than 3 years

      Dynamic environment with fantastic growth opportunities

      Mar 18, 2021 - Anonymous Employee in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      - Very supportive and transparent culture - The customer truly comes first and this is evident in every meeting on all levels - Lot of opportunities for growth and ability to work on new projects and initiatives - Overall alignment on "doing things right" and sustainably

      Cons

      The ground is continuously shifting. Which is very exciting and for a lot of people a positive, but if you prefer to clock in and expect the same workday every day, this is probably not a fit.

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      OppLoans Response

      Chief People Officer

      It’s amazing to know that you feel the support, transparency, and customer first culture that we have built. Love your comment about team members often exceeding their own expectations! To our point, our Dare to Win approach, continuous growth opportunities, and dynamic environment makes us who we are and yes - this is exactly the environment we want to sustain no matter how big or fast we grow. Karishma Patel Buford, Chief People Officer

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