Rating: 7.8 / 10 (Very good)
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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. Their loans are often used for major purchases, unexpected expenses, or debt consolidation.

How is LendingPoint rated?


Loan Specifics
Cost of Loan
Lender Reputation

Overall Rating: 7.8 / 10 (Very good)

LendingPoint offers a fast, fair and flexible process to apply for personal loans. They mostly cater to customers with fair to average credit scores, since they look at many other factors when considering whether to approve a loan or not. Potential borrowers should know that their rates are considerably higher than other online lenders', and their maximum loan amount is noticeably smaller. People with higher scores looking to take out a loan could likely find better offers elsewhere.

LendingPoint Loan Specifics

Loan Specifics - 8 / 10

LendingPoint offer loans ranging from $2,000 to $25,000 for debt consolidation, home improvements, medical bills, auto purchases, repairs, vacation, travel, and other immediate needs. Their loans have a flexible term length of 2 to 4 years, and borrowers can choose between once or twice-monthly repayments. Applicants may apply for a loan through LendingPoint's secure online application, or by phone. The application process is straightforward and initial credit decisions are given in seconds. LendingPoint lets customer choose an offer that fits their needs and cash flow, upload verification documentation, and e-sign their contract. Once approved, funds are typically sent to the customer's bank account via ACH the next non-holiday business day.

Loan Uses

Debt/Credit Card Consolidation
Buy Home
Major Purchase
Home Improvement
Medical Expenses
Start Business
Loan Minimum
Loan Maximum
Term Length
2 to 4 years
Direct Deposit
Pay Creditors Directly
Decision Time
Disbursement Time
1 business day
Credit Insurance
Unemployment Protection

Representative Loan Sample

A $10,000 loan with an origination fee of 6% for a period of 24 months with an APR of 24.0980% may have a payment of $529.20 per month (actual terms and rate depend on credit history, income and other factors). The total amount due under the loan terms provided as an example in this disclaimer includes the origination fee financed in addition to loan amount, which is $12,700.80.

LendingPoint Qualification

Qualification - 8 / 10

Borrowers who are not eligible for loans with traditional or other online lenders may find it easier to qualify for a personal loan with LendingPoint. This is because they focus on providing loans built for people in the 600-680 FICO range. They don't just look at an applicant's score an take a decision; instead they take into account the whole of your credit story when considering whether to approve someone's loan or not.
Minimum FICO Score
Personal Income Considered
Education Requirements
Debt to Income Ratio
Verify Bank Account
U.S. Citizen
Hard Credit Pull

Alternative Factors to Credit Score Considered

Job history Financial history Income Credit behavior

LendingPoint Cost of Loan

Cost of Loan - 8 / 10

LendingPoint loan rates start at 15.49% and have a maximum of 34.99%. Their loans also have a 0 to 6% origination fee, and an undisclosed amount is to be charged for missed payments. Apart from that, LendingPoint has no other additional fees.
APR Range
15.49 to 34.99%
Origination Fee
0 to 6%
Missed Payment Penalty

LendingPoint Reputation

Lender Reputation - 7 / 10

LendingPoint was founded in 2014 and advocates for better understanding of individuals' financial and credit history. They are BBB accredited, have an A+ rating with them and hold a 4.12 composite score. Their Trustpilot score is an excellent 9.7.
Type of Lender
Peer to Peer
Year Founded
BBB Rating
Number of BBB Positive Reviews
Number of BBB Negative Reviews
Trust Pilot Rating
9.7 out of 10
Consumer Financial Protection Board (CFPB) Complaints
Date Collected

Company Profile

Full Name
LendingPoint Personal Loans
Company Website
1201 Roberts Blvd Suite 200, Kennesaw, GA, 30144

Top Rated
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