LendingPoint Personal Loans Review

This may be a competitive option for borrowers with fair credit

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overall rating

LendingPoint is an online personal loan lender. Based in Kennesaw, Georgia, it runs $100 million originations per month through its platform using data algorithms and technology.

LendingPoint personal loans may be a competitive option for borrowers with fair credit, who are looking for up to $36,500 and quick funding options. Our LendingPoint personal loan review covers everything you need to know before applying.

  • Product Specifications
  • Pros and Cons
  • Fees
Product Specifications
  • APR Range 9.99% to 35.99%
  • Loan Amounts $2,000 to $36,500
  • Loan Terms 24 months to 48 months
  • Recommended Credit Score 585+
Pros and Cons
  • Qualify with a less-than-perfect credit score

  • Pre-qualify with a soft credit check

  • Quick access to funds

  • Flexible payment options

  • Possible origination fee

  • Not available in all states

  • No joint or co-signed loans

  • High maximum interest rate

  • Origination fee: 0% to 6%
  • Prepayment penalty: none
  • Late fee: See loan terms

Pros Explained

  • Qualify with a less-than-perfect credit score: You may qualify for a personal loan with a minimum credit score of 585, according to a representative.
  • Pre-qualify with a soft credit check: You can check personal loan offers without a hard inquiry on your credit reports. Soft credit checks do not impact your credit score.
  • Quick access to funds: LendingPoint may transfer the money as early as the following business day after approval.
  • Flexible payment options: While most people choose a 28-day payment schedule, LendingPoint offers more choices. You may opt for bi-weekly payments. There’s also an option to temporarily or permanently change your payment due date.

Cons Explained

  • Possible origination fee: Depending on where you live, LendingPoint may charge an upfront origination fee of 0% to 6% of the total loan. 
  • Not available in all states: LendingPoint doesn’t offer personal loans in every state. You can see a complete list of states where the lender does business on its website
  • No joint or cosigned loans: If you want to apply for a personal loan with someone else, you need to look elsewhere. LendingPoint doesn’t allow joint or co-signed personal loans.
  • High maximum interest rate: LendingPoint’s highest annual percentage rate (APR) is 35.99%, which may be offered to the least creditworthy borrowers. This high APR will add a lot to your monthly payments. 

Types of Personal Loans Offered by LendingPoint

LendingPoint offers one unsecured personal loan, which has a fixed interest rate and repayment terms of 24 to 60 months.

Time to Receive Funds

LendingPoint can initiate a transfer as soon as the next business day after receiving the necessary paperwork and approving your loan.

LendingPoint Personal Loan Features

  • Fast application and approval process
  • Considers more than your credit score
  • Bankruptcy won’t disqualify your application
  • Use the money for any personal expense
  • No prepayment penalties

Apply For a LendingPoint Personal Loan

You must meet these six requirements to qualify for a LendingPoint personal loan:

  1. You must be at least 18 years old.
  2. You must provide a government-issued photo ID.
  3. You must have a Social Security number.
  4. Your income (employment, retirement, or another source) must be at least $35,000 per year. 
  5. You must have a bank account in your name.
  6. You must live in a state where LendingPoint does business.

LendingPoint offers an easy, online application process. You can prequalify for personal loan offers by submitting your name, address, date of birth, Social Security number, and annual income.

The lender provides offers with a soft pull, which won’t hurt your credit score. After picking one of LendingPoint’s personal loan offers, a hard pull on your credit will be applied which will temporarily lower your score.

Once you apply, LendingPoint may ask for more information—which may include—but isn’t limited to:

  • Your driver’s license
  • Bank statements
  • Voided check to show proof of income

If you need assistance during any part of the application process, you can contact the customer support team by phone at 888-969-0959 or email the company at info@lendingpoint.com.

Can I Refinance a Personal Loan with LendingPoint?

If you’re looking for a better interest rate, you will have the opportunity to refinance with a new LendingPoint personal loan after seven to nine on-time payments, according to a representative.


LendingPoint may be a good option if you have fair credit and an income of at least $35,000 per year. The easy application process and quick funding are competitive among other lenders that cater to fair credit borrowers. If you make on-time payments, your credit score should improve over time as the company reports to one or more credit bureaus.

You may find better interest rates elsewhere, though. If you’re itching to pay off high-interest credit card debt, LendingPoint’s highest APRs may be more than you’re already paying. Before applying for any personal loan, it’s always a smart idea to shop around and see what options may be available.


Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of personal loan lenders. We collected over 25 data points across more than 50 lenders—including interest rates, fees, loan amounts, and repayment terms—to ensure that our content helps users make the right borrowing decision for their needs.