What is "oportun"

Oportun, formerly known as Progreso Financiero, is a private loan company with more than 170 locations in California, Texas, Illinois, Utah and Nevada. It targets financially underserved Hispanics, many of whom have little or no credit history and who often do not qualify for credit from traditional lenders. The company is headquartered in Redwood City, California.

Oportun was founded in 2005, under the name Progreso Financiero, and made its first loan in 2006. Since that time, the company has disbursed over $1.9 billion in loans. Oportun was certified by the United States Department of Treasury as a Community Development Financial Institution in November 2009, and recertified in October 2013.