LendingPoint: Personal Loans Review

  5,233 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   5,233 Reviews

trustpilot-stars

OCTAVIUS WALLACE

06 December, 2021

trustpilot-stars

Ms.Toya Smalls is DaBomb.Com

Ms.Toya Smalls was very patient, informative, and most pleasant throughout my entire process. She answered all my questions also kept me updated via email… Respectfully


PVC

04 December, 2021

trustpilot-stars

Im very happy with the service I got

Im very happy with the service I got. Josh Shaw breeze me through it. He was very professional knowledgeble helpful easy to talk to.. He was quick to response. Though i didnt get approved by other lenders. Lending point gave me assistance. Thank you very much. Will gladly recommend...


LANE

04 December, 2021

trustpilot-stars

Excellent customer service

Best experience. No headache and very fast responses by phone and email. I would highly recommend to anyone.


MIMI LARA

04 December, 2021

trustpilot-stars

Will was great and gave me all the…

Will was great and gave me all the options. Loan was processed in mere hours and approved, at a great rate


NIA P

03 December, 2021

trustpilot-stars

I must say you are lucky to have Rahjan…

I must say you are lucky to have Rahjan Randall on your team!! He was VERY professional and courteous!! Great experience!!


CHRISTINE

03 December, 2021

trustpilot-stars

Ari was fantastic

Ari was fantastic! She was very patient and informative. I look forward to working with Lending Point and Ari in the future.


JUSTME

03 December, 2021

trustpilot-stars

I enjoyed my experience

I worked with Chandler and found her to polite, professional and excellent to work with. I would recommend Lending Point and Chandler to anyone.


COL S.

03 December, 2021

trustpilot-stars

Exceptional service

Exceptional service. Professional. Rapid response to inquiry and loan funding. Great place to support with your personal monetary needs. Thanks.


MARY

03 December, 2021

trustpilot-stars

Sarah Suddith Hill helped me get funded…

Sarah Suddith Hill helped me get funded when I needed the money! Especially with Christmas around the corner, it will really help Thank you


ANGIE TORRES

03 December, 2021

trustpilot-stars

Justin was not only friendly

Justin was not only friendly, but he was very detailed and explain the process of what it meant to get the loan and if I paid it off sooner. Which I was questioning! I would recommend Lending Point to anyone! Thanks for a job very well done.


BOBBY BRITTEN

03 December, 2021

trustpilot-stars

Lending Point sent me a pre approved…

Lending Point sent me a pre approved loan application to which I applied. We all agreed on an amount, they ran my credit and said they would get back to me in 72 hours. Took them 5 days to get back to me and only after multiple phone calls and emails did they say my application was declined. No explanation at all. Now my credit score dropped 35 points because of the hard enquiry. Do not use this company. They are full of empty promises.


MICHELLE C.

03 December, 2021

trustpilot-stars

I was a bit concerned in the beginning…

I was a bit concerned in the beginning stages after applying. Once I filled out the application and submitted my documents online, I didn't hear anything for days. I didn't receive an email or update of any sort. It wasn't until I called to inquire on the status a few days later I was able to speak to Josh to assist me. It appeared to me the process didn't actually start until I spoke to Josh. He was the first person of contact and got the ball rolling. Josh was very professional and kind. After speaking to him and one of his peers the process came to completion. Thank you.


SPENCER BUTLER

02 December, 2021

trustpilot-stars

Sarah was AWESOME!

Sarah was AWESOME!! She was professional and kept my mind at ease as the process was seamless. Could not have aske for a better experience.


KYLE

02 December, 2021

trustpilot-stars

Thank you.

Mr. Martins, did a great job helping me out.


HOLLY HOOVER

02 December, 2021

trustpilot-stars

Shakim Tilley was so very helpful

Shakim Tilley was so very helpful, letting me know exactly what I needed to complete my loan application.


LIZBETH RAINES

02 December, 2021

trustpilot-stars

Great Experience! I would have never believed that…

I would have never believed that applying for a loan could be so easy. Justin Baker was of the utmost help. He advised what I needed to provide, I provided it and that was that! Justin was so courteous and friendly. I would recommend Lending Point to friends and family in a heartbeat! Thanks for a job very well done.


AARON HOWARD

02 December, 2021

trustpilot-stars

Very easy and clear process.

Very easy and clear process.


LIONEL YANCEY

02 December, 2021

trustpilot-stars

Personal loan

Super easy streamline process chandler answered every question I had


POSITIFLO

02 December, 2021

trustpilot-stars

Excellent experience and great…

Excellent experience and great communication. Justin was very helpful throughout the loan process. I look forward to using them again


JAMIE BALDWIN

02 December, 2021

trustpilot-stars

LendingPoint was a great experience

LendingPoint was a great experience. Very easy application and user friendly. Customer service was top notch. Definitely recommend them if in the market for a loan.


OLIVIA GODWIN

01 December, 2021

trustpilot-stars

Lending point came through for me and…

Lending point came through for me and my family a year ago, now that we was giving the opportunity and paid on time the entire loan they offered us more money at a time we really could use it which was during Christmas. Thank you Lending Point for not taking us through a lot and giving us a chance.


IVAN GONZALEZ

01 December, 2021

trustpilot-stars

Highly recommended!

Just want to give quick feedback thank you Lacy for making it such an easy process and giving me your honest opinion and advise it was very appreciated!


CHROME FISH

01 December, 2021

trustpilot-stars

Awesome loan specialist

Awesome loan specialist, fast response, answered all the questions I had, Just a awesome experience!


BJ EPSON

01 December, 2021

trustpilot-stars

This company has been nothing but…

This company has been nothing but excellent since I've been in contact with them! Tammy Jones who I had the pleasure of speaking with today went above and beyond to assist me! Great customer service skills and this company in general is just wonderful to work with! I greatly appreciate everyone from this company keep up the great work!!


PATRICK SANDERS

01 December, 2021

trustpilot-stars

Under 700 credit score APPROVED

With LendingPoint I was able to find the right loan for me. After applying, I was given three options to see which one fits my needs the best. Within 24 hours I received a phone call that lasted 4 minutes and was approved. Funds were in my account that day. The only thing that can make this loan better is LendingPoint reducing the interest rate throughout the duration of the loan.


LISA MAHLER

01 December, 2021

trustpilot-stars

Great experience

Great experience, representative was spot on, professional and courteous


FRED K.

01 December, 2021

trustpilot-stars

The loan process was so easy

The loan process was so easy. One of the best experiences I have had with a lender.


GLORY MELENDEZ

01 December, 2021

trustpilot-stars

Great service

My loan officer Shakim Tilley was very thorough with my loan terms and he was very pleasant! Thank you Lendingpoint. The loan process was very simple.


JOYE SR

01 December, 2021

trustpilot-stars

Quick and easy dot understand process

Quick and easy to understand process. My rep was very helpful and informative.


STEVEN SNEAD

01 December, 2021

trustpilot-stars

Super quick service

Super quick service, getting me exactly what I needed.


J ROD

01 December, 2021

trustpilot-stars

Customer support team at lending pointe really do a amazing job.

Customer service Really helped me out a lot with my loan and there response was quick and officiant not to mention super friendly.


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.

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