LendingPoint Personal Loan Review
- APR
- 7.99% to 35.99%
- Eligibility and access: 4.5/5
- Cost to borrow: 3.6/5
- Loan terms and options: 3.8/5
- Repayment support and tools: 4/5
LendingPoint offers unsecured personal loans from $1,000 to $36,500, with terms from 24 to 72 months and APRs from 7.99% to 35.99%. The lender weighs income, employment history and banking activity alongside your credit profile.
- Fast funding: After you sign your loan agreement, you could get your money as quickly as the next business day.
- Excellent user ratings: About 99% of LendingTree users who’ve used LendingPoint recommend this online lender.
- Loans not offered in all 50 states: LendingPoint does business in most — but not all — states.
- Charges an origination fee: LendingPoint’s origination fee can run Up to 10.00% depending on your state. This fee comes out of your loan proceeds, so you will receive less than you applied for.
- No joint applications: LendingPoint does not allow you to apply for a personal loan with a co-borrower or a cosigner.
- Best for small loans: LendingPoint could be a good choice for a fast online loan, as long as you only need a moderate amount of money. LendingPoint caps loans at $36,500, so you’ll need to look elsewhere for larger amounts.
LendingPoint pros and cons
Before applying for a LendingPoint personal loan, consider this lender’s highlights as well as its downsides. Here’s what you need to know:
Pros
- May get money in one business day
- Lower minimum income requirements
- Financial hardship options available
Cons
- May charge an origination fee (Up to 10.00%)
- No option for co-applicants
- Can’t qualify with bad credit
Borrowers looking for a quick loan, LendingPoint could be a good solution. You can get your money as soon as one business day after signing your loan agreement. And if you hit a financial snag after you get your loan, LendingPoint offers payment extensions and other hardship options to help protect your credit.
LendingPoint requires a good credit score, but it’s not as hard to qualify for compared to some lenders. For instance, its minimum annual income requirement is on the modest end, at $35,000.
However, depending on where you live, you may be stuck paying an origination fee, which can get as high as 10% in some parts of the country. Compare rates and fees from several different lenders before committing.
LendingPoint requirements
Aside from being at least 18 years old, you’ll need to meet the following criteria to receive a LendingPoint personal loan offer:
| Minimum credit score | 680 |
| Residency | No loans offered in Connecticut, District of Columbia, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont or West Virginia |
| Minimum income | $35,000 |
| Required documentation |
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If LendingPoint’s loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with LendingPoint
The LendingPoint personal loan application process is straightforward and fairly simple to navigate. Here’s what to expect when you submit an application:
Prequalify
LendingPoint allows you to prequalify for a personal loan, meaning you can submit an initial application without seeing your credit score drop. This is also known as a soft credit inquiry.
During this process, you’ll need to supply LendingPoint with your basic information, income, the amount you want to borrow and how you plan to use the funds.
Review offers
Once you submit this information, you may see potential rates, amounts and terms. If you decide to proceed with LendingPoint, you’ll need to submit documents verifying the information you provided. This may include pay stubs, W-2s and a government-issued form of identification.
Get approved
After LendingPoint verifies your information, the company will run a hard credit inquiry, which may cause your credit score to dip by a few points temporarily.
Sign the loan contract
If you pass a hard credit inquiry, LendingPoint will then send you a loan agreement to sign. After you’ve signed, you’ll get your money as soon as the next business day.
How LendingPoint compares to other personal loan companies
Even if you believe LendingPoint aligns with what you need in a personal loan, it never hurts to shop around and compare rates and terms with other lenders.
Here’s how LendingPoint stacks up against similar options:
| LendingPoint | Avant | Happen Bank | |
|---|---|---|---|
| LendingTree’s rating | 4/5 | 4.3/5 | 4.4/5 |
| Minimum credit score | 680 | 580 | 600 |
| APRs | 7.99% to 35.99% | 9.95% to 35.99% | 5.96% to 35.96% |
| Loan amounts | $1,000 to $36,500 | $2,000 to $35,000 | $1,000 to $75,000 |
| Repayment terms | 24 to 72 months | 24 to 60 months | 24 to 84 months |
| Origination fee | Up to 10.00% | Up to 9.99% | 0.00% – 8.00% |
| Funding timeline | Get money as soon as one business day | Get money as soon as one business day | Get money as soon as 24 hours |
| Bottom line | LendingPoint could be a good choice for a smaller loan, as long as you have good credit. However, you may pay a hefty origination fee. | Avant may have a higher starting APR than LendingPoint, but it also has a much lower minimum credit score as well as quick funding to match. But it also charges a higher origination fee. | Happen Bank’s low starting APR could make it an excellent choice for borrowers with top-notch credit. It offers bigger loans, too, although you still may pay an origination fee. |
How we rated LendingPoint
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings. Read more about our editorial guidelines.
Frequently asked questions
Yes — LendingPoint is a legitimate lender that offers loans ranging from $1,000 to $36,500 with APRs ranging from 7.99% to 35.99%. LendingPoint gets 4.9 out of 5 stars from LendingTree users, who recommend LendingPoint 99% of the time. You can read LendingPoint personal loan reviews from real LendingTree customers.
It typically takes seconds to prequalify for LendingPoint, but it doesn’t provide a specific timeline for final approval. Applicants who are asked for additional documentation get a decision within one to three business days after submitting it.
After you are approved, LendingPoint initiates an ACH transfer as soon as the next business day, though funds may take longer to become available depending on your bank.
You must have a credit score of at least 680 to qualify for a LendingPoint personal loan.
LendingPoint uses a soft credit inquiry to show your loan options, and soft inquiries do not affect your score. You provide basic information, then see your potential rates, terms and amounts. If you move forward with the application, LendingPoint runs a hard inquiry. This can temporarily decrease your FICO Score, but usually only by around five points.
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