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LendingPoint Personal Loans Review

Rating: 7.8 / 10 (Very good)
Disclosure: We receive advertising revenue from this partner. Learn more.

LendingPoint is an online lender currently serving customers in Alabama, California, Delaware, Georgia, Illinois, Michigan, Missouri, Montana, New Jersey, New Mexico, Ohio, Oregon, South Dakota, Texas, Utah, and Washington. The funds are often used for major purchases, unexpected expenses, or debt consolidation. LendingPoint describes itself by saying “We’re passionate about helping you rewrite your credit story. We get to know your past, so we can concentrate on your future. By unlocking access to money at fair rates and flexible terms, we’re creating better loans for better lives.”

Company Profile

BBB Ratings

A

States Served

16

 

Loan Details:

LendingPoint has a minimum loan amount of $3,500 and a maximum of $20,000. They have an interest rate between 15.49%-35.99% payable within 2-3 years. But, interest rates may vary according to an applicants revenue, state of dwelling, and credit history.

Minimum Loan Amount

$3,500

Maximum Loan Amount

$20,000

Loan Rate

15.49% - 35.99%

Minimum Loan Period

2 years

Maximum Loan Period

3 years

Privacy Policy

http://www.lendingpoint.com/privacy-policy/

 

LendingPoint Representative Sample

A consumer borrowing $4,000 at a 15% APR over a 24-month period would end up paying a total of $4,654.72.

Application

Applicants may apply for a loan with LendingPoint through its secure online application, or by phone. The application process is straight forward and initial credit decisions are given in seconds. LendingPoint allows you complete a transaction entirely online, including selecting an offer that fits your needs and cash flow, upload verification documentation, and esign the contract. Once approved, funds are typically sent to the customer’s bank account via ACH the next non-holiday business day.

Online Application Time

Few Minutes

Response Time

Few Minutes

Approval Time

Within 24 hours

 

Personal Loans Purposes

LendingPoint offer loans for Debt Consolidation, Home Improvements, Medical Bills, Auto Purchases, Repairs, Vacation, Travel, or other immediate needs.

Debt Consolidation

Yes

Home Improvements

Yes

Medical Bills

Yes

Auto Purchases

Yes

Repairs

Yes

Vacation and Travel

Yes

Other Immediate Needs

Yes

 

Mode of Payments

LendingPoint loan offer(s) typically reflect a 28 day payment cycle which is being offered as a courtesy as many of its customer are paid on a biweekly schedule and thus this may better align the loan payment dates with its customer’s actual income receipt schedule.  LendingPoint also offer monthly and bi-monthly pay schedules. LendingPoint accepts payments via electronic ACH debits or cashier check.

Automatic Loan Payment

Accepted

Monthly Payment

Accepted

Bi-monthly Payment

Accepted

Check Payment

Accepted

Pre-Payment Penalty

None

 

Borrower’s Information and Qualification

Being a direct lending company, Lending Point allows more flexibility and quicker approval times. Borrowers who are not eligible for loans with traditional lenders may find it easier to qualify for a personal loan with the company.

Personal Details

Yes

Income

Yes

Employer

Yes

Place of residence

Yes

Purpose of Loan

Yes

 

Help, Support and Usability

LendingPoint provides quick assistance to debtor concerns such as live chat, telephone support, email, and FAQ section readily available on their website. In addition, online processing of your application, 24 hour loan approval, and fund transfers are available.

Personal Loan Calculator

Yes

Online Application

Yes

24- hour loan process

Yes

24- hour Fund Transfer

Yes

Online Management Account

Yes

Live Chat

Yes

Telephone Support

Yes

Email

Yes

FAQs

Yes

 

Personal Loans at Lending Point

LendingPoint offers a fast, fair and flexible process for personal loans. The company's loans are designed to benefit the borrowers for their immediate needs and have flexible payment terms between 24 to 36 months. Loan rates start at 15.49% and have a maximum of 34.99%. Applying for a personal loan at LendingPoint is easy either online or over the phone with a loan representative.


Our Partner
7.8 / 10
  • Check your rate for free without impacting your credit score.
  • Qualified customers receive offers in three simple steps.
  • Simple and Secure – quick online application.
  • Loan Calculator
  • Loan Terms of 48 months
  • APR: 15.49 to 35.99%
  • Loans ranging from $3,500-$20,000
  • Online Account Management
  • Live Chat Assistance
  • No Pre-Payment Penalty

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LendingPoint Personal Loans