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OppLoans, a leading fintech firm, has been named the fourth fastest-growing Chicagoland company by Crain’s Chicago Business. With a five-year growth rate of 9,041.9% the company placed fourth on the Crain's Chicago Business annual Fast 50 list, alongside fellow Chicago-area startups Reverb, Snapsheet and Hireology.
Founded in 2012, by Todd Schwartz of Schwartz Capital, OppLoans is an online consumer finance platform offering credit access to non-prime borrowers by providing fully amortizing installment loans at significantly lower rates than traditional storefront competitors. Since hiring Jared Kaplan as CEO in 2015, the firm has rapidly expanded its operations and customer reach. In 2018, OppLoans saw revenues of $134.2 million—and revenue is expected to double in 2019.
"OppLoans was founded on the belief that all middle-class consumers deserve the best product for their risk profile," said Kaplan. "Not only do they deserve a product with lower interest rates and more manageable payments, but they deserve a five-star customer service experience.
"Being named to this prestigious list is a great honor, and it also confirms the fantastic job that our team has been doing. I joined OppLoans as employee number 20, and just last week we onboarded employee number 400. What we’re building here is something special.”
The Crain’s Chicago Business Fast 50 list showcases the 50 fastest-growing companies in the Chicago area. The list, which has been published every year since 2007, includes companies headquartered in Cook, DuPage, Kane, Lake, McHenry and Will counties in Illinois and Lake County in Indiana. Businesses with 2018 revenue of at least $15 million were eligible for the list.
In addition to appearing on the Crain’s Chicago Business Fast 50, OppLoans has also collected an impressive number of recent accolades including:
The full Crain’s Chicago Business Fast 50 list is available online and in the most recent issue of Crain’s Magazine, available in newsstands across the Chicago area.
OppLoans is one of the highest-rated online finance platforms and service providers in the industry. With fast funding, total transparency and unmatched customer service, OppLoans provides non-prime borrowers a reliable source of short-term funding.
For more information regarding OppLoans, please visit the OppLoans website at OppLoans.com.
Opportunity Financial, LLC
130 E Randolph St, Suite 3400
Chicago, IL 60601