LendingPoint Personal Loans: A Comprehensive Review

LendingPoint offers quick, accessible loans for a wide credit range, though higher scores may find better rates elsewhere.

LendingPoint Personal Loans: A Comprehensive Review


  • Loan Amounts: Offers personal loans from $2,000 to $36,500.
  • APR Range: Competitive APRs range from 7.99% to 35.99%.
  • Credit Score Requirement: Accessible to those with a minimum credit score 620, catering to a wide credit spectrum.
  • Origination Fee: Varies by state, ranging from 0% to 10% of the loan amount.
  • Late Fee: A maximum of $30, applicable only after a 15-day delay in payment.
  • Repayment Periods: Flexible terms between 24 to 72 months.
  • Quick Funding: Potential next business day financing.
  • Special Requirements: Applicants must have a Social Security number, be at least 18 years old, be a U.S. citizen or permanent resident, and have an open U.S. bank account.


  • Fast Access to Funds: Ideal for individuals requiring immediate financial assistance.
  • Low Credit Accessibility: Perfect for applicants with lower credit scores seeking unsecured personal loans.
  • No Joint Applications: Ensures a straightforward, individual-based application process.
  • User Satisfaction: Maintains a high average user rating of 4.2/5.
  • Broad Availability: Available in the District of Columbia and all states except Nevada and West Virginia.

Product Summary

LendingPoint distinguishes itself as an inclusive online lending platform, providing personal loans to diverse applicants, especially beneficial for those towards the lower end of the credit score spectrum. Despite its high starting APRs compared to other major lenders, LendingPoint's offering remains competitive due to its low minimum credit score requirement, quick funding times, and flexible repayment options. However, individuals with higher credit scores may find better rates elsewhere. The platform's absence of joint applications and the necessity of a Social Security number might limit accessibility for some, but its expansive reach across most states and the provision of sizeable loan amounts make it a viable option for many looking to manage or consolidate debt, finance large purchases or cover unexpected expenses.

Read more