LendingPoint Reviews

LendingPoint is an online lender that uses technology to make the lending process easier and faster. Borrowers can complete a simple application online or use the company’s mobile app to get started. The company claims initial offers are available in just seconds, and funds are available as soon as the next business day once final approval is completed. Loans are available up to $36,500.

Customers can apply for a personal loan of up to $36,500 on LendingPoint’s website or mobile app. The first step in the process is completing an online application. After submitting an application, LendingPoint’s algorithm will determine if an individual is approved for a loan and will show a range of options to choose from.

At this point you will likely need to submit some documents for the application, including driver’s license, bank statements and pay stubs (or other employment verification). Once the documentation is verified, customers can choose to receive their funds as soon as the next business day.

You can request a personal loan ranging from $1,000 to $36,500. Interest rates range from 7.99% to 35.99%, depending on your credit score. While seeking a personal loan with LendingPoint will not affect your credit score, you must have a score of at least 585 to be approved. You can select payment terms from 24 to 72 months, and LendingPoint does not have a prepayment penalty.

As for fees, there are no fees associated with applying for your loan. There are also no prepayment penalties. However, LendingPoint does charge an origination fee of up to 10%.

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Yes, LendingPoint is a legitimate company. Its leadership team includes financial professionals with decades of combined experience in the industry. LendingPoint’s technology provides customers with access to a variety of personal loan options that can be used for debt consolidation, home repairs, bill payments and other personal uses.

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