LendingPoint offers unsecured fixed-rate personal loans. These loans can be used for any purpose the borrower chooses, from debt consolidation to a vacation. LendingPoint’s lenders offer loans for as little as $2,000 with repayment terms as short as two years.
LendingPoint Personal Loans Review
LendingPoint personal loans are funded by investors who have been matched with the borrower through the LendingPoint platform. The company offers competitive fixed rates on loans up to $36,500.
LendingPoint Personal Loans Highlights
$2,000 - $36,500
LOAN REPAYMENT TERM
24 months to 72
MIN CREDIT SCORE
APR FIXED RATE
7.99% - 35.99%
One business day days
SOFT CREDIT PULL
Pros & Cons
- Receive funds as soon as the next day after approval
- Prepay with no penalties
- Qualify for a loan with fair credit
- Co-signers or co-borrowers are not allowed
- Origination fees as high as 8%
- Some lenders may not report your payment history to all three major credit bureaus
Personal Loans Types
- Unsecured Personal Loans
- Debt Consolidation
- Home Improvement
- Major Purchase
- Medical Expenses
LendingPoint Personal Loans Terms & Requirements
How to Apply
Procuring a personal loan with LendingPoint is a straightforward 1- step process:
After completing this form, you may receive preliminary approval and then be provided a choice of up to 12 lenders. Once you select a lender, they will request additional documentation (proof of income, photo ID, etc.) and make a final decision on loan approval.
LendingPoint has several requirements for someone interested in a personal loan:
- Minimum age: 18
- U.S. resident in all states except Nevada or West Virginia
- Have a valid Social Security number
- Have a valid driver’s license/state ID
- Have a minimum annual income of $25,000
- Have a verifiable bank account in your name
LendingPoint requires personal information and the loan amount requested to match you with a lender.
Application Steps & Time Frames
- Complete the information form: 2 minutes
- Wait for a decision: typically within minutes
- Funding is released in one business day
LendingPoint’s application process is simple and quick. Funding is faster than many other personal loan lenders.
Not Available - Nevada, West Virginia.
Privacy & Security
LendingPoint has a complete privacy and security statement on its website. It shares your data with its affiliated companies but not with non-affiliates. They do not sell your information to outside companies for marketing purposes.
LendingPoint uses security measures that comply with federal law, including computer safeguards, secured files, and secure buildings.
LendingPoint has an excellent reputation for customer support before a third party approves a loan. It is accredited by the Better Business Bureau (BBB) and has an A+ rating. In addition, the company has an excellent Trustpilot score of 4.8 out of 5 stars based on over 5,000 reviews.
LendingPoint’s phone support is very prompt and professional. When we called, we were connected with a customer support representative within one minute.
LendingPoint is a customer service-oriented company that connects borrowers with its network of lenders; it does not lend money itself. The lender provides customer support once the loan is funded.
LendingPoint has an excellent reputation for answering borrowers’ questions and helping them get a loan approved. In addition, its rates are competitive, and loans may be repaid early without a penalty.
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