LendingPoint Review for 2026

LendingPoint is a personal loan company that offers unsecured loans to people with a variety of credit scores.

It’s a direct lender and lending platform for personal loans, with some loans funded by LendingPoint and others by partner banks depending on the application and state. LendingPoint is a great choice for people with fair to bad credit scores, even if other lenders have previously turned them down.

LendingPoint Overview

LendingPoint is a financial technology platform that extends financing solutions to consumers through its personal loan offering.

Founded in 2014, LendingPoint focuses primarily on unsecured personal loans on its consumer-facing website, while also operating a broader lending platform.

Rated with an A+ by Better Business Bureau, LendingPoint is one of the leading providers of financing solutions in the US.

This lender also provides a number of resources to help borrowers understand their options and make the best decision for their needs.

Its site also includes a Knowledge Center and account portal for managing payments and reviewing loan information, which adds a practical self-service element to the borrowing experience.

Features and Services

For borrowers, the main focus here is LendingPoint’s unsecured personal loan product.

Personal loans are funds intended for people who need money for personal expenses like weddings, medical bills, or other emergency occurrences.

LendingPoint offers a wide range of loan amounts, fast payouts, no prepayment penalties, and APRs as low as 7.99%.

Borrowers can check their options online without automatically moving straight to a full loan closing workflow, and approved funds are often available by the next non-holiday business day.

The company also highlights educational content around debt consolidation, unexpected expenses, and credit health, which makes the platform a bit more useful than a bare-bones loan form.

Application Process

The LendingPoint application process is fairly straightforward, and it consists of two steps:

• Complete the application

This part of the process will require some of your personal and financial information. This typically includes your name, email and physical address, and phone number.

You’ll need to provide your pre-tax annual income, income source, and the last four digits of your Social Security number. The only thing left to do is create a password, and you’re done with the first step!

• Wait for the approval

Once you complete the application, LendingPoint will evaluate your information and decide within minutes in many cases, although some applicants may be asked for additional documentation before final approval. If you get approved, you can expect to receive the funds as early as the next business day.

Terms and Fees

Whatever the reason for considering a personal loan, it’s important to understand the terms and fees before borrowing.

Personal Loan Terms

LendingPoint offers personal loans with 24 to 72 months terms, and the origination fee goes up to 10% of the loan amount. The minimum amount is $1,000, and the maximum is $50,000.

Your APR on a loan depends on income, credit score, and other information in your application, but with LendingPoint, it will fall somewhere from 7.99% to 35.99%.

If you wish to quickly check the rate, you can do so on the website by typing in desired loan amount and loan purpose, after which you’ll receive an instant quote before deciding whether to move forward.

Personal Loan Fees

LendingPoint charges an origination fee that can go up to 10%, and it can be deducted from the loan proceeds. There are no other hidden fees, and you won’t be charged any prepayment penalties if you decide to pay off your loan early.

One of the main advantages of LendingPoint is that it doesn’t discriminate against borrowers with bad credit scores. The minimum credit score required is 580, which is lower than what most other lenders require.

One of the few downsides of LendingPoint is that it does not report payments to the Equifax credit bureau.

It only sends reports to Experian and TransUnion. If you’re looking to improve your credit score, make sure you understand how each credit bureau calculates it and which one makes the most sense for your needs.

Eligibility Requirements

 In order to qualify for a LendingPoint personal loan, you need to meet the following criteria:

• Be at least 18 years old
• Have a minimum annual income of $35,000
• Live in one of the states where LendingPoint does business
• Have a personal bank account in your name
• Have a Social Security number
• Be able to provide a US federal, state, or local government-issued photo ID

These eligibility requirements are not too difficult to meet. If you can provide the necessary information and documents, you should have no problem getting approved for a loan.

LendingPoint currently provides services to customers in 42 states.

Unfortunately, residents of Connecticut, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont, West Virginia, and the District of Columbia are not eligible to apply for a personal loan through LendingPoint’s current consumer offering.

Customer Service

LendingPoint offers excellent customer support and has an informative website. You can reach the customer support by phone or email.

You can also contact them through social media channels like Facebook and LinkedIn. The customer support is responsive and more than happy to answer any of your questions.

The company lists customer loan support by phone at (888) 969-0959, along with email support and scam-prevention resources on its site.

How LendingPoint Compares to Other Lenders

LendingPoint is one of many financing solutions available to customers. Before getting involved with one lender, it’s good to check out other options too.

LendingPoint vs. Avant

Avant is a company that provides financial services, including personal loans, credit cards, and mobile banking.

It offers personal loans ranging from $2,000-$35,000, with 24 to 60 months repayment terms and an APR rate of 9.95-35.99%.

Avant charges an administration fee of up to 9.99% and does not charge any prepayment penalties.

There is, however, a possible late fee depending on state rules and your agreement, which you should be aware of if you decide to take out a loan from Avant.

The main difference between these two providers is that, unlike LendingPoint, Avant reports your payment history to all three major credit bureaus, which can be crucial if you’re trying to boost your credit score.

Get Avant rates on Bankrate

LendingPoint vs. Prosper

Prosper is another popular personal loan lender that offers loans ranging from $2,000 to $50,000. The repayment terms are two to five years, and the APR rates start at 8.99% and go up to 35.99%.

Prosper has slightly higher requirements in terms of credit scores. You have to have a score of 640 or above to be eligible for a loan.

Prosper also has an origination fee, which ranges from 1% to 9.99%. It is either $15 or 5% of the unpaid amount, whichever is greater, when it comes to late payment fees.

As you can see, both Prosper’s and LendingPoint’s personal loans are solid choices for prospective borrowers.

Both lenders offer competitive rates and terms. The main difference is that Prosper requires a higher credit score and has an origination fee, while LendingPoint may also charge an origination fee, but it can be easier to qualify for if your credit profile is less polished.

So if you need to borrow more money, Prosper might be a better option for you.

On the other hand, if your credit score is not that presentable, LendingPoint’s lower credit score requirements will make it easier to qualify for a loan.

Get Prosper rates on Bankrate

Final Verdict

LendingPoint is a solid option for borrowers who need a personal loan quickly and may not have pristine credit. Its strongest selling points are flexible loan uses, fast decisions, next-business-day funding in many cases, and a relatively accessible approval profile.

The trade-off is that origination fees can be steep, availability is limited by state, and payment reporting does not cover all three major credit bureaus.