LendingPoint: Personal Loans Review

  5,087 Reviews on Trustpilot

LendingPoint Snapshot

LendingPoint is an Atlanta-based direct lender founded in 2014 to help borrowers improve their credit rating.

The lender specializes in extending funds to consumers with credit scores in the 600-680 range, since these borrowers typically have a harder time securing funding than people with higher scores.

LendingPoint personal loans can be used for a variety of purposes, including debt consolidation, starting a business, or renovating a home.


LendingPoint Spotlight

Best For
Those with credit scores between 600-680 who want to improve credit

Marketplace or Direct Lender
Direct lender

Loan Types
Debt consolidation, refinancing, home improvement

Loan APR
9.99% to 35.99%

Repayment Terms
24 to 48 months

Summary

LendingPoint offers personal loans on a smaller scale, from $2,000 to $25,00 that last for 24 to 48 months.

LendingPoint also has one of the lowest minimum credit scores of lenders at 585. Even though the company provides an opportunity for lower credit consumers to secure a loan, they don’t offer terribly high rates.

Rates start at 9.99% and go to 35.99%.


Loan Types

You can use LendingPoint personal loans for anything from debt consolidation, to paying for medical bills, or even home improvement. In order to qualify, you need to have a minimum credit score of 585 and an annual income of $35,000 or more. You also need to:

  • Have a local, state, or federal government-issued ID
  • Be at least 18 years old
  • Have a valid Social Security Number
  • Have a personal bank account in your name


Personal Loan Rates & Terms

LendingPoint’s loan rates range from as low as 9.99% to 35.99%. While many lenders offer rates as low as 6%, LendingPoint’s rates are a bit higher. However, LendingPoint is also able to offer loans to consumers with lower credit scores.

If you have a higher credit score, you’ll probably want to choose a different lender as you’ll be more likely to secure a lower interest rate.

LendingPoint’s personal loans are fixed interest, so you’ll pay the same amount every month until the loan is paid off.

Depending on the state you live in, you may have to pay an origination fee which can range from 0% to 6% of the loan amount. While LendingPoint doesn’t have a prepayment penalty, they do charge a late fee of $30 if your payment is 15 days late.

LendingPoint loans range from $2,000 to $25,000 and can be paid off in 24 to 48 months.


LendingPoint Pros

  • Soft credit check during pre-qualification
  • Funding is often transferred the day after approval
  • Only requires a credit score of 585
  • Options to change your payment date

LendingPoint Cons

  • Rates are higher compared to other lenders
  • No option for co-signers

LendingPoint Application Process

LendingPoint has a pre-qualification tool which shows you what type of loans are available to you. By using this tool, LendingPoint will perform a soft credit check to determine what rates you’ll get (without harming your credit score).

Once you pick your lender, rate, and terms, LendingPoint will perform a hard credit check to complete your application.


Customer Support

Overall, LendingPoint has great customer service.

They have a number of tools and resources available to learn more about securing a personal loan, along with several other options to improve your financial knowledge. You can access these resources through their FAQ page or their blog.

If you need help right away, you can phone their toll-free phone number to speak to a customer service representative over the phone. Or, simply send them an email and they’ll get back to you shortly.


Final Thoughts on LendingPoint

So, should you use LendingPoint to access a personal loan?

Well, it’s clear that LendingPoint is a great option for anyone with low or bad credit. While they focus on customers in the 600-680 range, they will qualify a borrower with a score as low as 585.

However, it’s important to note that their fees are higher than other lenders since their barrier to entry is lower than other lenders.

In terms of securing funding, LendingPoint does a great job of servicing most people. Plus, they offer a ton of resources to understand your credit score and improve your overall financial health.


FAQ

Does applying for a loan through LendingPoint impact my credit score?

No, by applying for a pre-qualified loan amount and rate, your credit score won’t be negatively impacted. The pre-qualifying rate only issues a soft credit check which doesn’t impact your score at all. Once you select your loan and complete the application, though, a hard check will be performed which will impact your credit score.

How much money can I get approved for?

LendingPoint personal loans range from $2,000 all the way to $25,000. The amount you qualify for depends on a variety of factors, including your income, credit history, current employment, and others.

Lending Point Customer Testimonials

Excellent   5,087 Reviews

trustpilot-stars

KIMBERLY WEINBERGER

14 hours ago

trustpilot-stars

Quick and easy

Quick and easy. Terms were clear. I appreciate the assistance!


HEIDI PHILLIPS

25 October, 2021

trustpilot-stars

Justin was very helpful in helping to…

Justin Baker was very helpful in helping to get my loan going. Quick process. Very efficiently done. Would highly recommended!!


ALICIA DAHL

25 October, 2021

trustpilot-stars

SO HELPFUL

For someone with major anxiety, this was by far the easiest thing I have done! Shakim Tilley helped me so much!


MISTY M. WILLIAMS

25 October, 2021

trustpilot-stars

Love working with Lending Point!

Working With Jessenia Vasquez and the Lending Point Team is always a smooth and easy process! Love working with them.


MELISSA HALL

25 October, 2021

trustpilot-stars

Quick and painless

I worked with Sarah Suddath-Hill. Sarah was friendly, efficient and knowledgeable. We spoke on a Friday and she emailed me the following Monday to advise loan was approved and funds sent. Thank you Lending Point and Sarah!


PAUL EDWARDS

25 October, 2021

trustpilot-stars

they were great came thru with loan in…

they were great came thru with loan in a short time I would use the a recommended them anytime


ARTHUR SMITH

24 October, 2021

trustpilot-stars

Great Experience!!!

I had an great experience working with Rochelle and Sheryl. They both were very professional and prompt with responses.


JAMES

24 October, 2021

trustpilot-stars

Just another data collection site

Just another data collection site. Sends pre approvals then when they collect all your information your denied. Probably make their money collecting and selling personal data. Should be illegal


MERY ATMODJO

23 October, 2021

trustpilot-stars

So happy for the service. Very fast process and hassle free.

Very fast process and hassle free.


TANA

22 October, 2021

trustpilot-stars

Kassidy Fulmer did an amazing job of…

Kassidy Fulmer did an amazing job of making sure things went the way she should have. She coordinated with any upper management and other departments. She was not the one who dropped the ball that led to an almost 7 month situation. She was super patient with me, she also listened well. She needs a raise by the way!!!


MARCO GUZMAN

22 October, 2021

trustpilot-stars

No responsibility

I'm still waiting to be approved my Loan. Despite giving then all the information, and be pre approved.


SKYLER BROCK

22 October, 2021

trustpilot-stars

Nothing but helpful

Nothing but helpful. Explained everything thoroughly. Friendly and professional.


TERRI BATES

22 October, 2021

trustpilot-stars

Great Service

Everyone was so kind and very helpful and efficient on getting my loan approved quickly. Justin Baker worked hard and was great. Thank you so much!


KALEIALOHA

22 October, 2021

trustpilot-stars

Pleasant solution

It was a pleasure working out a financial solution that I could use and appreciate. Sarah listened to what I wanted to accomplish and allowed me to look at several options. When those options didn’t quite meet my objective, I asked to move in another direction. She shared the details and costs and I was pleasantly surprised and agreed to the offer. Sarah SH, I look forward to working with you in the future. Aloha Wayne H


MARIBEL

21 October, 2021

trustpilot-stars

Huge Kudos to Rahjan Randall!!

To whom it may concern; I wanted to take the opportunity and give huge kudos and merit where merit is due. I was assisted by Mr. Rahjan Randall in refinancing, from the moment this gentleman addressed me I was delighted by his customer service, the knowledge and excellent attribute to work with me and update me on the possibilities of obtaining additional funding. I had been reaching other means and resources for such and with Mr. Randall I felt confident that he was advising me correctly and not just selling. I really believe he is an asset to your company! With high respect I really believe this employee is an excellent, knowledgeable businessman it’s an outstanding and fruitful advantage to have someone like him work for your company. Now a days there no customer service, companies are just looking to make money without the interest of the client! I’m was very please to be serviced by Mr. Randall and feel Confident in referring family and friends to him. It was a pleasure and I hope he gets well compensated for his outstanding workmanship!! A huge congratulations to you Rahjan Randall!


CLAUDIA NAVARRO

21 October, 2021

trustpilot-stars

Always have a great experience with…

Always have a great experience with LendingPoint. They answered my questions and answered every single question.


JAZZMYN

20 October, 2021

trustpilot-stars

Anisa was extremely helpful and made…

Anisa was extremely helpful and made the process easy!


SANA ELAFIF

20 October, 2021

trustpilot-stars

It was good

It was good, easy. Sarah is great go step by step with me.


GARY HEDLIN

20 October, 2021

trustpilot-stars

Nothing but Amazing

Worked on 2 loans with Lending Point and both times I've been amazed at how smooth the process went. Worked with Edsel on the last loan, and he was beyond professional and courteous... definitely someone who cares! Fees and rates are good (5% of the loan amount), which is par for the course... but way better than getting slammed by the credit card companies. Would DEFINITELY use LendingPoint in the future!


DANIEL KNOTTS

20 October, 2021

trustpilot-stars

Very quick

Very quick, and simple. Thanks for all your help!


MARISSA CRANE

20 October, 2021

trustpilot-stars

Jessenia was very knowledgeable and…

Jessenia was very knowledgeable and helpful with the entire process.


JAIME VC

20 October, 2021

trustpilot-stars

From indifferent to thankful.

Toya Smalls is a professional and was very understanding to my situation. I was never approved for any loans for years, anywhere/ever and I understand there are requirements, but I felt that Toya worked with me and made it possible. I was so indifferent when I got the chance to speak with her, now I don’t think I can thank her enough.


GAVIN BROWN

20 October, 2021

trustpilot-stars

Rahjan was a great help and walked me…

Rahjan was a great help and walked me through the loan process. Made it super simple and i highly recommend! Thanks again


MARKEAL JOHNSON

20 October, 2021

trustpilot-stars

😁👍

Super easy to deal with and AWESOME service from Rahjan Randall. Thank you 😊


TAYLOR GONZALES

19 October, 2021

trustpilot-stars

All Good around very explanatory and…

All Good around very explanatory and easy just what I needed


K.B.

19 October, 2021

trustpilot-stars

Sarah Suddath-Hill was very helpful!

Sarah Suddath-Hill was very helpful but not pushy nor did she pressure me. She made my loan process smooth and explained the terms clearly.


ROSS

19 October, 2021

trustpilot-stars

Really great experience working with…

Really great experience working with Justin Baker. Really responsive. Quick and easy!


KATHRYN BENNALLACK

19 October, 2021

trustpilot-stars

Im unsure about this company it says I…

Im unsure about this company it says I was approved but yet no deposit. When I call I get disconnected during transfer to representative. I've emailed and no response


SCOTT REISINGER

18 October, 2021

trustpilot-stars

These people are total Scammers do not…

These people are total Scammers do not do it! they want you to feel like they are doing you a big favor but in reality they are depositing counterfeit checks and doing money laundering with your account how this business is 5 star is beyond me. don't walk away from this business RUN!!


HUGH JOINER

18 October, 2021

trustpilot-stars

A Wonderful Experience !

Working with LendingPoint and Ms. Toya has been a wonderful experience!!! She and her team walked me right thru the process and it was fast! Now I’m able to breathe a bit better and use this to better my finances!!! Thank you so much Ms. Toya!!!


GUILLERMO SADDLER

18 October, 2021

trustpilot-stars

Smooth a silk!

Rahjan Randall made my refinance process quick and painless. In less than 24 hours my loan was funded.


ELIAS NASR

18 October, 2021

trustpilot-stars

I like dealing with Lending Point

I like dealing with Lending Point. They are very straightforward and easy to work with. Rahjan Randall was terrific. He explains to you all your options with thorough. Good job!!


DOUG KIRKPATRICK

18 October, 2021

trustpilot-stars

Wonderful experience with Lending Point…

Wonderful experience with Lending Point from start to finish! Every bit of the process was streamlined and fast!


COUNTRYCOLLECTABLES

18 October, 2021

trustpilot-stars

I Would Give 10 Stars If I Could!

I Would Give 10 Stars If I Could!! Super Fast And Really Easy And I Appreciate You For Really Doing A Great Job! Really Easy to Navigate Online And Really Simple To Use, And No Hidden Fees, I Love That! Thank You For Giving Us A Boost When We Needed It Most, I Look Forward To A Great And Prosperous Future Together.


OFFICIAL CHECKUP

16 October, 2021

trustpilot-stars

They Ara all bunch of liars,they…

They Ara all bunch of liars,they scammed me of my $1000 without funding me my loan.The company is just out to scam people of there money...Lisa called me saying my loan has been approved and started requesting money from me...stay far away from them they are thief’s


EVANGELINE LEOTA

15 October, 2021

trustpilot-stars

super great experience

super great experience! it was easy, quick and professional! (if that makes sense?) Justin Baker is very attentive and personable and I love that customer service, he didnt make us feel like getting the loan would be stressful or impossible. highly recommend Lending Point and Justin! ;)


MICHELLE STIRR

15 October, 2021

trustpilot-stars

One of the best Loan Companies I've…

One of the best Loan Companies I've worked with. Their Loan Officer's are upfront, quick and always on top to get everything approved.


READYFREDDY

15 October, 2021

trustpilot-stars

Easy and kind

Sandi was great she was patient and kind and explained explained everything in detail.give her a raise!


VIRGINIA LOUPE

15 October, 2021

trustpilot-stars

Shakim Tilley Was so helpful and…

Shakim Tilley Was so helpful and extremely fast in helping me get funded. His emails were clear and concise and he called me for any other questions I may have had.


BERNARDO IRIZARRY

15 October, 2021

trustpilot-stars

Arianne Bassols was extremely diligent…

Arianne Bassols was extremely diligent in the process of the refinance my loan. She provided an exceptional customer service. I strongly recommend Lending Point to continue to have Spanish speaking loan specialists like her. Not too many people speak good english or not speak english at all. Arianne goes beyond the standards in assisting me. Please, keep up the good work. Again, thank you.


ANGELA STINGLEY

15 October, 2021

trustpilot-stars

Sandra Meredith was very helpful in…

Sandra Meredith was very helpful in getting my loan funded. The process was quick and smooth. Thanks LendingPoint.


ADRIANA LASMAR

15 October, 2021

trustpilot-stars

Highly recommend

Shakim Tilley had been extremely helpful. He answered all my question promptly and help me immensely throughout the process. Very professional and easy to work with.


MARIELA PALACIOS

14 October, 2021

trustpilot-stars

I lost my job

I lost my job, and I called lending Point to explain my situation. The rep that I spoke with help me a lot with my repayments. If you run into any trouble repaying them call and explained and they will defiantly help you.


DAVID

14 October, 2021

trustpilot-stars

I have never had a loan go this fast…

I have never had a loan go this fast and smooth. Just had to verify my info. I had the money in my account the next day.


ROHAN LEWIN

14 October, 2021

trustpilot-stars

I rate this 5 stars from the beginning…

I rate this 5 stars from the beginning to the application Toya Smalls helped me and made the process seamless and easy. Basically held my hand throughout and answered all of my emails for questions that I had. I'd recommend to family and friends


TAI NGUYEN

14 October, 2021

trustpilot-stars

Scam Company!!

Do not use this company if you need an online personal loan.. They are one of the worst out there. I recommended anyone else but them. Horrible customer service.


VIRGINIA

13 October, 2021

trustpilot-stars

Amazing results

Thee whole process from beginning to end was so easy and stress free. Justin Baker was always in touch with me and made sure I had all the papers and information that was required. Thank you for helping me out.


JESSICA CHARLTON

13 October, 2021

trustpilot-stars

Great help quickly!

I didn't expect it to be this easy or quick, but it was processed a little over 24 hours. My loan helper, Shakim Tilley, kept me informed on what was going on with the loan process and made everything very easy!


NIKKI MEALOR

13 October, 2021

trustpilot-stars

Wonderful place!

Alexander was such a great help! It was an easy and wonderful experience with this place getting me what I needed, I highly recommend them


IYA IYA

13 October, 2021

trustpilot-stars

By far the best and easiest Loan…

By far the best and easiest Loan process I’ve EVER had! Excellent communication, great customer service to say the least! . A very pain-less process! Definitely letting friends and family know how awesome my experience was! Keep up the good work Lendingpoint, you ALL were absolutely Amazing!! 🙏🏾❤️

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