LendingPoint: Personal Loans Review

  5,202 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   5,202 Reviews

trustpilot-stars

JENNY AND TIM

30 November, 2021

trustpilot-stars

Company AND Rep A+

Not only was the company responsive, helpful and NOT pushy, but Shakim TIlley, our Sr. Account Manager went above and beyond to help us get a life-saving loan. In addition, we got a loan with a decent interest rate (approx equal to a credit line or less) and a viable monthly payment.


LISA TRUSS

30 November, 2021

trustpilot-stars

Toya was very helpful and patient…

Toya was very helpful and patient during the process of applying for the loan I received. Thanks so much!


ADAM NARANJO

30 November, 2021

trustpilot-stars

Every helpful

Every helpful, easy to use, no issues whatsoever.


HEIDI JOHNSON

29 November, 2021

trustpilot-stars

Super easy!

For someone who has severe anxiety speaking on the phone, I thoroughly appreciated the smoothness of the entire online process. I'd say about 95% of the process was able to be completed online and was extremely easy. Thank you so much for helping me out in a bind! Would 100% recommend!!!


FALIN GRIDER

29 November, 2021

trustpilot-stars

Lending Point made it simple

Lending Point really made the process easy and seamless. Joe Fellin helped me and the whole process was quick and easy!


JOSEPH DANG

29 November, 2021

trustpilot-stars

Great service.

Great service.. fast respond.. good communication.. and so slow interested.. thank you so much for help me…


HARLOW STEPHENSON

29 November, 2021

trustpilot-stars

Great dealing with you and I love your…

Great dealing with you and I love your interest rates


ELAINE EDDER

28 November, 2021

trustpilot-stars

It was a very easy application process…

It was a very easy application process and a very quick turn around for their decision. Once approved, the money was distributed and deposited within 2 days of the approval. I would definitely recommend and their customer service was great!


CUSTOMER

28 November, 2021

trustpilot-stars

Shakim Tilley has excellent customer…

Shakim Tilley has excellent customer service skills. He made me feel dignified going through this pain free process. The funds were released sooner than expected. If I ever needed a personal loan again I would choose Lending Point first


JALEN

25 November, 2021

trustpilot-stars

Joe Fellin worked w/ me to get me the…

Joe Fellin worked w/ me to get me the funds i needed and i am so appreciative because it was really looking bleak for me financially so I’m very thankful to him.


N H

24 November, 2021

trustpilot-stars

Enthusiastic Service

Lacy was wonderful and dogged in getting me my refinance. I appreciate his tenacity and assistance


ALANA MASON

24 November, 2021

trustpilot-stars

Jessenia...was amazing

Jessenia...was amazing. She provided me with the best customer service and was able to answer all questions with confidence and knowledge.


JOANNE TICE

24 November, 2021

trustpilot-stars

I am very pleased with Sandi Meredith 5 Star Customer Service

I am very pleased with the Customer Service, Sandi Meredith was/is exceptional. My entire experience was one of the very best I have ever had. The process was most expedient. The rate wasn’t bad and does not feel predatory. Thank you.


SHANTELL EVANS

24 November, 2021

trustpilot-stars

I had the pleasure of working with Lane…

I had the pleasure of working with Lane Gentry. His followup wa excellent. I was able to get my loan approved within 24 hours.


ANTHONY PEEBLES

24 November, 2021

trustpilot-stars

Excellent service

Working with Chandler was a pleasure. She had a lot of patience, was polite, and answered all of my questions.


CHARLIE

24 November, 2021

trustpilot-stars

Excellent experience

Excellent experience. Sarah is exceptional


SYMANTHIA TRAUGHBER

23 November, 2021

trustpilot-stars

Thank you lendingpoint for everything…

Thank you lendingpoint for everything and Toya for helping me get a loan


TRACY

23 November, 2021

trustpilot-stars

Very quick and easy

Very quick and easy. Excellent customer service. Chandler was very friendly and helped Every step of the way.


RHILL

23 November, 2021

trustpilot-stars

Rahjan was very helpful and the entire…

Rahjan was very helpful and the entire process was fast no issues whatsoever.


RAMON HERNANDEZ

23 November, 2021

trustpilot-stars

Toya was very professional

Toya was very professional, nice, and great overall


L. H.

23 November, 2021

trustpilot-stars

5 stars for lending point

5 stars for lending point. Fast, efficient, non judgmental, excellent customer service Did paperwork on Friday, money in my account by Tuesday. Will definitely do future business with them L.Holland


JOHN M

23 November, 2021

trustpilot-stars

I have been dealing with LendingPoint…

I have been dealing with LendingPoint for two loans and this one is my Third one. The process is pretty easy if you have all the information they request and they will also work with you. Throughout my entire time with them I have never been pressured or harassed. This time I was assisted by Carrie Jones who was very polite and helpful. There was no pressure but a lot of caring that my needs were met.


JONATHAN KOHLER

23 November, 2021

trustpilot-stars

Smooth, Quick, & Efficient Process!

Josh Shaw made this process very smooth, quick, and efficient! He talked me throughout the process, and answered any questions that I had very promptly. I have dealt with other loan companies in the past which feels like an eternity hearing back regarding whether or not the loan was approved, and or denied but LendingPoint was within 24 hours and gave me so much relief especially with the Holidays vastly approaching. I truly couldn’t thank Josh enough, as he made sure that I processed all of the documents that the underwriters could possibly ask for up front to not allow any speed bumps. I would highly recommend LendingPoint, and especially Josh Shaw as your loan specialist! Happy Holidays!


CNC PLASMA

22 November, 2021

trustpilot-stars

save yourself the hassle

What a joke, took a week to deny my loan and a 820 credit score TU, additionally, I had to check in with them consistently for updates. even recieve an approval email that was retracted the next day. Went to bank and pulled a loan within 30min. Never again, and Credit Karma is a joke. wow


MARGE GISSBERG

22 November, 2021

trustpilot-stars

Sandi's assistance was awesome

Sandi's assistance was awesome. The lack of tedious paperwork was great. Thank you Sandi and LendingPoint. Marge Gissberg


ALLAH BEY

22 November, 2021

trustpilot-stars

The process was very straight forward…

The process was very straight forward and once my application was submitted the response time was very prompt. I would greatly recommend LendingPoint.


BLUE

22 November, 2021

trustpilot-stars

toya smalls is very professional and…

toya smalls is very professional and effecient she is a asset to your company


PATRICE HACKWORTH

21 November, 2021

trustpilot-stars

When Life Got Hard

When Life got difficult for me financially, Lending Point came thru with patience and understanding by way of the development of a new program that will allow me to pay less my monthly payment until I am able to get back on track.


ANGELA GIBSON

20 November, 2021

trustpilot-stars

Good Job

Rayven Keith did a great job. She was available when I called and patient while I processed the details of my new loan. Thank you Rayven


CAROLYN HANSEN

19 November, 2021

trustpilot-stars

Very helpful and understanding.

Very helpful and understanding.


KRISTEN BOSTON

19 November, 2021

trustpilot-stars

Excellent service

Excellent service, quick and easy. Amazing customer service.


MICHELLE VEGA

19 November, 2021

trustpilot-stars

Rayven Keith was wonderful

Rayven Keith was wonderful. She was courteous and helpful during the application process. She made sure to provide me with all the information I needed in regards to the loan. Very helpful


IMTHE GUY

19 November, 2021

trustpilot-stars

Quick. Easy.

Quick. Easy. Helpful. The only reason it isn’t 5 stars is the interest rate. The salesman R Randall was nice and helpful.


NICHOLE THOMPSON

19 November, 2021

trustpilot-stars

The specialist was knowledgable and effecient. Great Customer service.

The specialist provided great customer service and was very patient as I had many questions. She was quite knowledgeable and was able to assist me in narrowing down my decision to consolidate the other pending cards I had. She was great. I appreciate her loyalty to her job and understanding it as well.


PAUL

18 November, 2021

trustpilot-stars

Excellent Loan Service

Shakim Tilley was an excellent Loan Originator and personally called me to explain the terms, which were clear and fair. I'd definitely use them again if there is ever a need.


AJ KAMPS

17 November, 2021

trustpilot-stars

Lending Point reached out to me to…

Lending Point reached out to me to offer more lending options. There was no pressure. At first, I said no thanks…but then my water heater broke! I called Rahjan back to ask if I could borrow a bit more and he made it happen in one day. Excellent customer service. Very friendly, knowledgeable and helpful.


IAN SORTMAN

17 November, 2021

trustpilot-stars

Staff actually cares

Amazingly personable staff, was very kind and friendly while being professional and having the answers to all my questions. Helped me find a refinance option for me that net me some money while still keeping my payments the same or even lower! I could have refinanced and just paid even less but I chose to extend because of how amazing the staff is.


SALAS

17 November, 2021

trustpilot-stars

Thank you to LendingPoint and Chandler!

Thank you LendingPoint for making my transaction a seamless one. Thank you Chandler for your OUTSTANDING Customer Service and your patience in helping process my documents. I would HIGHLY recommend using LendingPoint to friends and family!


JAZ OSORIO

17 November, 2021

trustpilot-stars

Payments

I had an issue making a payment, called customer service and they were able to reduce my 10% of my initial payment for the next three months. I appreciate lending point so much they have made this experience wonderful!!!


AMANDA CROCKER

17 November, 2021

trustpilot-stars

So Simple!

Super simple process! My loan specialist, Justin, was great! He was extremely friendly and answered all of my questions in detail.


JOEY MARON

17 November, 2021

trustpilot-stars

quick and easy

quick and easy


Z.OZAN

17 November, 2021

trustpilot-stars

Super Fast and Friendly

Very pleasant experience. Super fast respond time all transaction was completed less than 30 minutes. Person that handled my transaction was outstanding. Definitely will do business again


MICHAEL OVERTON

17 November, 2021

trustpilot-stars

Love doing business with LendingPoint

Love doing business with LendingPoint! This company has an awesome team of knowledgeable professionals. They offer terrific customer service, while ensuring you receive the right loan for your situation. Shout out to Senior Loan Specialist, Cathy Werner, who sealed the deal on my second LendingPoint loan today!


JORDAN REED

16 November, 2021

trustpilot-stars

APPLY WITH UPSTART, NOT LENDINGPOINT.

I am going to start with DO NOT WASTE YOUR TIME APPLYING FOR A LOAN THROUGH LENDINGPOINT, Upstart(with whom I currently have an unsecured personal loan,after only 5 min approval process and funds deposited in my account the following business day.) After applying with Lendingpoint and a hard pull on my credit it said I was approved, next day I receive a call asking for my 2020 W2 and a copy of my most recent paystub. I provided both, keep in mind I requested $5,000 and the 2 week paystub gross was $4,800. A week later I receive an email stating Lendingpoint is unable to provide the loan I requested. Long story short…, avoid Lendingpoint and do yourself a favor and give Upstart a go first, It has been a pleasure doing business with Upstart and I plan on using them again moving forward.


ALFREDO MELENDEZ

16 November, 2021

trustpilot-stars

Profesional and service impeccable…

Profesional and service impeccable always make me feel like an important person not just a name thanks.


DRE THORNTON

16 November, 2021

trustpilot-stars

Alex Chaidez

Quick fast and simple Alex Chaidez took care of me with no problem and made sure he explained everything to the best of his knowledge I am satisfied way to go ALEX!!!


MIGUEL AGUILAR

16 November, 2021

trustpilot-stars

The process was fast and easy

The process was fast and easy. Josh helped me with any concern I had making the process smooth. I highly recommend it.


MISS DANIELLE

16 November, 2021

trustpilot-stars

LendingPoint has the best customer…

LendingPoint has the best customer service! My experience with them was fast and convenient. The loan specialist (Toya Smalls) was very friendly and made sure I was informed at all times throughout the process. Thank you so much!


CUSTOMER

16 November, 2021

trustpilot-stars

This was an amazing and quick process

This was an amazing and quick process. Everything was done so quickly and efficiently. Couldn't be happier...and also the rate was great. Thank You Lending Point


PANZER PLAYGROUND

16 November, 2021

trustpilot-stars

Above and beyond customer service!

I had the privilege of working with Sarah on a loan modification and she was an absolute delight to talk to. Very informative, very professional, and she had all the answers to my questions. She worked with me through the entire process and is a shinning example of what good customer service looks like.

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