LendingPoint Personal Loans Review

Individuals with fair credit can borrow up to $36,500 through LendingPoint

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Lending Point

Investopedia’s Rating

To qualify for a personal loan from many lenders, borrowers generally need good to excellent credit. That’s why LendingPoint stands out from other companies; its minimum credit score is just 580. Although its loans have higher-than-average interest rates, it could be a useful option for borrowers with subprime credit that need cash quickly. 

  • Pros & Cons
  • specifications
Pros & Cons
  • Low credit score requirements

  • Fast decisions and loan disbursements

  • Wide range of loan amounts

  • Co-signed loans and secured loans aren’t available

  • Higher-than-average APR

  • Has origination fees

APR Range
7.99% - 35.99%
Loan Amount
$2,000 - $35,600
Loan Terms
24 Months or 72 Months
Recommended Minimum Credit Score
Average Origination Fee
0.00% - 8.00%
Late Fee
$0.00 - $0.00
Why Trust Us
Lenders reviewed
Loan features considered
Data points analyzed
Primary data sources used
Investopedia collected key data points from several lenders to identify the most important factors to borrowers. We used this data to review each lender for fees, accessibility, repayment terms, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right borrowing decision for their needs.

Pros Explained

  • Low credit score requirements: To qualify for a personal loan, lenders generally require borrowers to have good to excellent credit, meaning a score between 670 and 850. By contrast, LendingPoint only requires fair credit—its minimum credit score is 580. 
  • Fast decisions and loan disbursements: If you need money quickly to cover an unexpected emergency, LendingPoint offers fast decisions. If approved, your loan may be disbursed as soon as the next business day. 
  • Wide range of loan amounts: Lenders that cater to borrowers with fair credit often have lower loan maximums than other companies. But LendingPoint issues loans between $2,000 and $36,500. While its maximum loan amount is smaller than some competitors, it still offers a wide range.

Cons Explained

  • Co-signed loans and secured loans aren’t available: Borrowers with lower credit scores can sometimes improve their chances of getting a loan—and a decent interest rate—by applying with a co-signer or using collateral to secure the loan. Unfortunately, LendingPoint doesn’t offer either of those options. You have to meet the lender’s credit and income requirements on your own. 
  • Higher-than-average APR: LendingPoint’s APRs can be quite high. As of November 2021, its APRs are between 7.99% and 35.99%. Considering that the average APR for a personal loan with a 24-month term is 8.73%, even LendingPoint’s lowest APR is higher than you may find elsewhere. 
  • Charges origination fees: While many lenders don’t charge origination fees, LendingPoint does. Depending on where you live, the origination fee can range from 0% to 6% of the total loan amount. 
  • Not available in all states: LendingPoint isn’t licensed to issue loans in all states. Currently, residents of Nevada and West Virginia are ineligible for loans from LendingPoint.


LendingPoint is a privately owned company with headquarters in Kennesaw, Georgia. Catering to individuals with subprime credit, the company states that it serves 85% of the FICO credit score population. 

LendingPoint offers unsecured personal loans ranging from $2,000 to $36,500, with APRs between 7.99% to 35.99%. To qualify for a loan from LendingPoint, you must live in a state where the lender is licensed; residents of Nevada or West Virginia are not eligible. You must be at least 18 years old and have a Social Security number and an annual income of $25,000 or more. 

It offers rapid approvals—most applicants will get answers within seconds of submitting an application. If approved, loans can be disbursed in as little as one business day. 

Company Overview

LendingPoint was founded in 2014. It differentiated itself from other lenders through its use of proprietary algorithms and artificial intelligence to review loan applications and provide near-instant decisions. 

Although it’s based in metro Atlanta, LendingPoint also has offices in San Francisco and New York. 

In addition to its unsecured personal loans, LendingPoint recently launched a new point-of-sale partnership to serve dental offices. Through this partnership, dentists can provide their patients with convenient financing options with instant credit decisions.

Types of Personal Loans Offered by LendingPoint

LendingPoint offers unsecured personal loans. Applicants with credit scores of 580 and above may qualify for its loans, provided they meet other eligibility criteria, including having a valid Social Security number, bank account, and annual income over $25,000. LendingPoint’s loans can be used for any personal expense, including home improvements, medical or dental procedures, weddings, or debt consolidation

Time to Receive Funds

The application process with LendingPoint is quite fast. You can apply online and receive a decision within seconds of submitting your application. If LendingPoint approves you for a loan, you could receive the money as soon as the next business day, though it could take a few business days.

LendingPoint Personal Loan Features

LendingPoint’s personal loans are designed for people with subprime credit that may struggle to qualify for loans from other lenders. As such, this lender has few standout features. 

Loan Pre-qualification

By filling out a simple form on the LendingPoint website, you can find out your loan and payment options. This process involves a soft credit check, which won’t affect your credit score. 

Instant Decision

LendingPoint uses a proprietary algorithm to review applications. With its technology, you can receive a decision within seconds. While the initial decision can take seconds, LendingPoint mentions that it may request additional documents from borrowers as part of the underwriting process.  

LendingPoint doesn’t charge late fees. However, LendingPoint states in its terms that it can change its fees at any time.

Apply for a LendingPoint Personal Loan

LendingPoint allows prospective borrowers to pre-qualify for its loans. This process involves a soft credit check, which won’t impact your credit score. Once you’ve pre-qualified, you can review loan options and terms to decide which loan best suits your needs. 

If you decide to apply for a personal loan from LendingPoint, you’ll complete these steps: 

  • Complete an application: The full application will prompt you to enter your personal information, employer details, and income. It will ask you to consent to a hard credit check, which will likely cause a small, temporary dip to your credit score. 
  • Receive a decision: After submitting your application, you’ll likely receive a decision within seconds. If you accept the loan terms and sign the agreement, you could receive the requested funds in as little as one business day. 

Can You Refinance a Personal Loan With LendingPoint?

LendingPoint doesn’t offer personal loan refinancing, but you can use your loan to consolidate existing debt.

Customer Service

You can reach LendingPoint’s customer support team via phone or email. 

  • Email: Info@LendingPoint.com
  • Phone: (888) 969-0959

Its customer service department is available Monday through Friday from 8:00 a.m. until midnight EST. On Saturdays, customer support is available from 10:00 a.m. until 9:00 p.m. EST, and on Sundays from 10:00 a.m. until 4:00 p.m. EST. 

Customer Satisfaction

LendingPoint was not one of the companies included in J.D. Power’s 2021 U.S. Consumer Lending Satisfaction Study. However, the company has received outstanding reviews on Trustpilot. 

It has an “excellent” rating of 4.8 out of 5 stars based on over 5,600 customer reviews. Reviewers praise its smooth application process, fast response time, and quick loan disbursement. Several reviews mention positive experiences with LendingPoint’s loan and customer service teams.

Account Management

LendingPoint has a dedicated customer portal for existing borrowers. You can create an online account to make payments and review your loan documents. 

How LendingPoint Compares to Other Personal Loan Companies

LendingPoint has relatively low credit score requirements and offers loans up to $36,500. However, its rates and origination fees can be high. If you have less-than-perfect credit and are shopping around for a loan, another popular option is Avant. Here’s how Avant compares to LendingPoint. 

LendingPoint vs. Avant

Like LendingPoint, Avant is an online lender. It offers loans of $2,000 to $35,000 with loan terms as long as 72 months. It also disburses loans quickly and doesn’t charge prepayment penalties.

Avant’s APRs and origination fees are similar to LendingPoint’s, so where Avant stands out is its refinancing options. Although LendingPoint doesn’t offer personal loan refinancing, Avant allows customers to refinance unsecured personal loans. Refinancing can be useful if your credit has improved since you initially took out the loan because you might qualify for a better interest rate. With Avant, you can refinance your loan up to two times.

  LendingPoint Avant 
Loan Amounts $2,000 to $36,500 $2,000 to $35,000
Loan Terms  2 to 7 years  2 to 5 years 
APR  7.99% to 35.99%  9.95% to 35.99% 
Origination Fee  0% to 6%  4.75% administrative fee 
Late Fee  None  Varies by state 
Unemployment Protection Available  No  No 

Read our full review of Avant personal loans here.

Final Verdict

For borrowers with fair credit or better, LendingPoint can be an appealing option. It has relatively low credit score requirements and disburses loans quickly so you can quickly get the money you need in an emergency. Customer reviews of LendingPoint are largely positive, but look out for high origination fees and higher-than-average APRs. 

If you have good to excellent credit, you can likely qualify for a personal loan with a lower rate than LendingPoint offers. Before submitting your loan application, compare offers from top personal loan lenders to find the best option for you. 


Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of personal loan lenders. To rate providers, we collected over 25 data points across more than 50 lenders, including interest rates, fees, loan amounts, and repayment terms to ensure that our reviews help users make informed decisions for their borrowing needs.  

Our full personal loans methodology, including our data collection process and weighted data points, is available for review.

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  1. LendingPoint. "Loans From LendingPoint."

  2. Federal Reserve. "Consumer Credit."