LendingPoint Reviews
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About LendingPoint
LendingPoint is an online lender that offers unsecured personal loans for borrowers in 42 states. LendingPoint says it uses proprietary technology to make approval decisions in seconds and fund approved loans as soon as the next business day, making it ideal for customers who need quick cash but don't qualify for the lowest rates at traditional banks.
- Flexible repayment terms
- Fast online decisions
- Loans up to $36,500
- Next-business-day deposits
- Minimum annual income of $35,000 required
- Origination fee may apply
- Higher rates for lower credit scores
- Not available in all states
What is LendingPoint?
LendingPoint is an online direct lender that uses technology to make the lending process simple and quick. Borrowers can complete a simple application online or use the company’s mobile app to get started. The company claims initial offers are available within seconds, and funds are available as soon as the next business day after final approval. Loans are available for amounts between $1,000 and $50,000.
How does LendingPoint work?
Customers can apply for a personal loan on LendingPoint’s website or mobile app. After you complete and submit an application, LendingPoint’s algorithm will determine if you are approved for a loan and show a range of options to choose from. If you move forward, the lender may ask for documents such as a driver’s license, pay stubs, bank statements and employment verification before final approval.
If approved, LendingPoint says it can initiate ACH funding as soon as the next business day, though your bank may take longer to make the funds available.
LendingPoint rates and fees
LendingPoint’s personal loans range from $1,000 to $36,500. Interest rates range from 7.99% to 35.99%, depending on your credit score, with payment terms from 24 to 72 months. Seeking a personal loan with LendingPoint will not affect your credit score initially, but you must meet internal criteria to be approved.
LendingPoint does not charge an application fee or a prepayment penalty, but an origination fee of up to 10% may be included, depending on your state. A $30 late fee may also apply.
FAQ
Does LendingPoint do a hard credit check?
LendingPoint says that checking your basic loan options uses a soft pull, but continuing with the full application may require a hard inquiry.
What credit score do you need for LendingPoint?
LendingPoint says it serves consumers with FICO scores up to 850 and evaluates more than just credit score; it does not publish a single score cutoff on its website.
Are Lending Club and LendingPoint the same?
No. Despite the similar name, Lending Club and LendingPoint are separate lending companies.
Where is LendingPoint available?
LendingPoint is available in 42 states. It’s currently unavailable in Connecticut, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont, West Virginia, and Washington, D.C.
Still have questions?
Is LendingPoint legit?
Yes, LendingPoint is a real lender that has been operating since 2015 and says it has provided more than $9 billion in loans to hundreds of thousands of consumers and businesses.
Its leadership team includes financial professionals with decades of combined industry experience. LendingPoint’s technology provides customers with access to a variety of personal loan options for debt consolidation, home repairs, bill payments and other personal uses.
LendingPoint Reviews
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- 4,907,997 reviews on ConsumerAffairs are verified.
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Reviewed June 26, 2026
I will never borrow money from these people again. I've been paying on a loan for over a year with all payments on time. They offered me more money a few months ago, but I didn't need the money at the time. So, I wanted to do a home improvement and called them, thinking I could get the money they were offering, and a representative told me that the offer expired and was no longer available. I will borrow money from my 401K for my home improvement and pay these people off and never borrow from them again. Half my payment goes to interest, and I should have borrowed against my 401k originally.
Reviewed June 28, 2025
Getting the loan was an easy process. I filled out an easy application and a representative got back with me the same day. After I had paid down the balance a bit, they gave me an option to borrow more. I borrowed more, by closing out the loan first and opening the second. I enquired three times during the long payback period if there was an option to refinance. My credit score had gone up 100 points since I initially got the loan, and never missed or had a late payment. I received a response a day later saying they periodically reviewed loans for options. I asked this three different occasions, and always got the same response. I found this frustrating so I secured a loan with a different company at 5 points less interest and a lower monthly payment. Paid off the balance in full ahead of time at no penalty. Mediocre experience overall because of their inflexibility with a perfect borrower.
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LendingPoint Company Information
- Company Name:
- LendingPoint
- Website:
- www.lendingpoint.com
