LendingPoint: Personal Loans Review

  5,400 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   5,400 Reviews

trustpilot-stars

TERESA

4 hours ago

trustpilot-stars

I had a great experience

I had a great experience. My customer agent, Justin was efficient and knowledgeable, he made the experience easy for me. Thank you


BECKY DE LA GARZA

13 hours ago

trustpilot-stars

I had a great experience with Lending…

I had a great experience with Lending Point. I spoke with Shakim Tilley and he was very helpful. The whole process took less than 1 day. I refer all my friends.


DB

16 January, 2022

trustpilot-stars

Ari was amazing

Ari was amazing, thorough, and extremely helpful!!


ANGELA BARRIE

15 January, 2022

trustpilot-stars

Thank you Lending Point

Thank you Lending Point! I've needed assistance on several occasions due to Covid and you have assisted me tremendously in regards to help with my monthly payments.


ALICE F TAYLOR

15 January, 2022

trustpilot-stars

Online loan scammers

I was trying to borrow $3000 for a couple of weeks and my credit score was low.They called me on the phone and wanted to help,So I first talked to a Mary and then I spoke to Steven Holland.He was going to help but said he had to bring my credit score up.He said if I had credit card that he could do it by me sending him a gift card over the phone.I didn't want to do it but I did.When he got it he had to add money on my credit card because I had it maxed out.I sent him the card and he made the payment to Credit one.I had just gotten scamed for $200.00 from another company.I told him about it so I guess he got the ideal from that.Then he had Mary to tell me I had to send another card because my score didn't go up that much.I argued with him but I did it.All the time he was telling me how honest he was and so this time i sent a $360.00 card and we waited for the score to rise.This was a week before Christmas and Steven was going on vacation until the first of the new year.So now I am dealing with Jason Rodreques and Mary and now he tells me that they need money for insurance on the loan and I said no.They sent me a email from Jacob Martin explaining about the insurance.They keep telling me that I had a loan and gave me a conformation no.69639810,but i first had to send another card for ins.This times I was buying the cards my card showed that they had made a express payment and if they hadn't I didn't have any money on the card then I couldn't have bought the cards because I had no credit on my cards.on 12-13 they made a payment for 356.95 and on the other card they made a payment for 380.95 and then on 12-15 they added to my card so i could buy cards and send to them.The amount was 279.95 and 405.95.After i bought they withdrew their payment.They scammed me for almost $2000.00.Another woman in the office tried to get me to give her my Bank information sign in and my password.Is this the kind of people that works for Lending Point?I will be reportin g this to the Attorney General Office in Georgia.I am a senior citizen on a fixed income.I can't afford to deal with crooks.This whole office is scammers.


SHARI BOYCE

15 January, 2022

trustpilot-stars

Tammie Jones at Lending point was…

Tammie Jones at Lending point was wonderful to work with. Everything was very professional and the process was very quick.


BORIS

15 January, 2022

trustpilot-stars

Keri Chang is the best

Keri Chang is the best. I am working on my own many years in the customer service field. She was excellent, explained everything very clear to me and made my experience easy going. Thank you, Keri :)


TONYA WRIGHT

15 January, 2022

trustpilot-stars

Stay FAR away, stick with Lending Club!

First off I had a loan with Lending Club, which I REGRET switching over to Lending Point. With Lending Club, you balance does NOT INCREASE every day like this company. All of your extra payments do NOT go to your principal. They put it towards interest which is FALSE ADVERTISEMENT. I can not wait for a class action suit! It clearly states on their site that there are no fees for extra payment and prepayments, but I made a payment the other day and they applied the whole thing to interest! You say one thing on your website and somewhere in the contract squeeze in the complete opposite! That is completely false advertising and predatory! This company should shut down! I wish I would’ve stayed with lending club and I was actually almost done paying them off smh. I can’t wait to be done with this company. There is nothing positive about this company!


JASON GUZMAN

14 January, 2022

trustpilot-stars

Justin Baker great loan officer

Justin Baker great loan officer. Everything was quick and easy Thank you


MINDI BEACH

14 January, 2022

trustpilot-stars

Tammie is OUTSTANDING

Tammie is OUTSTANDING


LUIS CUELLO

14 January, 2022

trustpilot-stars

Great great experience

Great great experience, great customer service, A+ . Great job!!


AMBER HIRAKAWA

14 January, 2022

trustpilot-stars

They’re super amazing and easy to work…

They’re super amazing and easy to work with. I would recommend them to all my friends and family!


JOHNNY SEALES

14 January, 2022

trustpilot-stars

Sandi was a great help in the process

Sandi was a great help in the process


MAI

14 January, 2022

trustpilot-stars

Very understanding

Very understanding, easy process and fast process as well.


ZAC ELLIOTT

14 January, 2022

trustpilot-stars

Justin Sir LendsAlot gave me a call

Justin Sir LendsAlot gave me a call, within a few minutes had the process wrapped up and back into debt we go.


J H

14 January, 2022

trustpilot-stars

Incompetence

I was approved for a large sum but, there was a error with the contract. Senior credit analyst Michael Hamilton stated, “ I have one of the loan officer’s contact you.” I was not contacted for weeks. I attempted phone calls and, was just informed they’re still processing my application. I finally contacted Hamilton. He apologized, and said someone would contact me which they did the next day once. I was contacted by Daniel Diaz who left me a message and an email. I responded to both of them multiple times. I left messages only to be informed that my contract has expired. Daniel said we can run it The contract again but inform me that I was not approved for anything. So until because of their miss managing they pretty much wasted my time and reduce my credit for their incompetence.


KELLI LARA

13 January, 2022

trustpilot-stars

UNBELIEVABLE!

UNBELIEVABLE! The process was so easy! Funded within hours after approval! Highly recommend! Shakim Tilley was my loan specialist, he's the best! I had a couple of questions and he was quick to respond. My emails were returned promptly and followed up with a phone call. He got my loan approved within a day and it funded within hours after approval. Unbelievable!


ROY

13 January, 2022

trustpilot-stars

Keri was great

Keri was great. In just a few minutes she answered all my questions and got me the loan I requested.


ESTHER NACCHIO

13 January, 2022

trustpilot-stars

Estoy extraordinariamente agraciada con…

Estoy extraordinariamente agraciada con la prontitud que siempre me han tratado. Gracias gracias gracias.


JAMELA

13 January, 2022

trustpilot-stars

What an easy process

What an easy process! Sure did help when I was in a bind!!!


MARI GALARZA

13 January, 2022

trustpilot-stars

Very helpful great job

Very helpful great job


B.R.

13 January, 2022

trustpilot-stars

Life saver

Best. Experience. Ever. It's so stressful trying to get loans in a time like this but Danielle was the sweetest, calmest, most helpful human I've ever spoken to over the phone and she didn't make me feel stressed during the process becuse she walked me through each step. Thank you!!


KEVIN WILLIAMS

13 January, 2022

trustpilot-stars

Josh Shaw is THE BEST in what he does!

Josh Shaw was very helpful, knowledgeable and informative during the loan process. I am very grateful to have come across him instead of anyone else. It is with great pleasure that I've entered into a business relationship with LendingPoint and I'm looking forward to a successful relationship and continued business in the days ahead.


SHANNON

12 January, 2022

trustpilot-stars

Josh was awesome very informative and…

Josh was awesome very informative and helpful


ELLEN COUCHMAN

12 January, 2022

trustpilot-stars

Highly recommend LendingPoint

I highly recommend this company for your financial assistance needs! I had been very hesitant to try on online loan and application process as there is so much risk of scams and identity theft. Also the lack of personal connection! I received nothing but respect , personal connection and concern for my financial need! All with the upmost professionalism! Deborah Meier was the greatest person to work with and to work for me and on my behalf toward getting everything in order for an approval and quickly! I had an urgent need!! I received approval that first day and was funded within 24 hours! I couldn’t recommend this company more! Thankful for Deborah and her personal touch!


TONISHA KINCADE ROWAN

12 January, 2022

trustpilot-stars

Lacy was Awesome!

Lacy was very attentive to my goals and an absolute pleasure to work with. He gave me the terms and worked to make sure that my questions and concerns were addressed. I had a pleasant experience with him at the helm.


MAX ALVAREZ

11 January, 2022

trustpilot-stars

Great customer service

Great customer service


MICHELE KEAWE

11 January, 2022

trustpilot-stars

I had the opportunity of working with…

I had the opportunity of working with Josh Shaw. He was very friendly and informative. He explained everything in detail even sent example of documents needed to make it easier for me to obtain the correct ones. It made getting all the documents requested faster and easier. I will be recommending lending point to my family and friends.


HAROLD SALMON

11 January, 2022

trustpilot-stars

It was a pleasure working with Arianne

It was a pleasure working with Arianne. She was extremely professional and had awesome communications. I highly recommend Lending Point, it was an absolute 5 Star experience. Thank you both, Harold Salmon


EDWIN CUMMINS

11 January, 2022

trustpilot-stars

It was a pleasure working with Arianne

It was a pleasure working with Arianne. She was extremely thorough, worked fast and had awesome communication. LendingPoint approved me quicky for my first loan and approved me for a second loan that was seamless. I highly recommend LendingPoint! 5 Star experiences!


LILLIAM R.

10 January, 2022

trustpilot-stars

Doing business with LendingPoint has…

Doing business with LendingPoint has been one of the best customer service experiences in a while. Shakim Tilley was very courteous and answered all my questions. I strongly recommend doing business with LendingPoint, and if you want a customer experience that exceeds all expectations, ask for Shakim Tilley.


JULIO DIAZ

10 January, 2022

trustpilot-stars

Muy agradecido por la excelente ayuda

Muy agradecido por la excelente ayuda, muy profesional


TONI MERCK

10 January, 2022

trustpilot-stars

They were very helpful and available…

They were very helpful and available when I had questions.


TYTEYANA HAZZARD

10 January, 2022

trustpilot-stars

Love lending point they are very fast &…

Love lending point they are very fast & very nice to speak to ! Payments are low & they update your credit !


JEREMY ARTHUR

10 January, 2022

trustpilot-stars

THANK YOU

Mr. Shaw was a godsend. Easy communication, direct, and very quick with replies. Couldn’t be more satisfied with how everything went. Genuinely effortless from start to finish. Thank you so much


HB

09 January, 2022

trustpilot-stars

Excellent Customer service

Toya Smalls was helpful and courteous throughout the entire process. She made certain that I fully understood each step throughout the process.


ASHLEY PRICE

07 January, 2022

trustpilot-stars

Keri was so helpful

Keri was so helpful. She really made me feel comfortable while I was making my decision. Absolutely no pressure and I really loved that.


M.LAMORTÉ

07 January, 2022

trustpilot-stars

Great friendly service!

Keri was very helpful, genuine - and articulate. Her call was great timing in regards to my work.


SABRINA SIMMS

07 January, 2022

trustpilot-stars

A great company …

Justin Baker was phenomenal and easy to work with. He answered all of my questions quickly and was able to get my loan to funding, even with the small hiccup it had! Great experience


CHRISTOPHER GIBSON

07 January, 2022

trustpilot-stars

I would do it again!

I had an easy, great experience. It was pretty straight to the point, as long as you have the required documents. I even changed my loan amount in the process with no problem. The only reason I didn’t get 5 stars was the fee. It was a $1,000 which left me $1,000 short paying my cards. Other than that everything was great and would recommend!


WILLETTA

07 January, 2022

trustpilot-stars

There are not enough good things that i…

There are not enough good things that i can say about LendingPoint. I have been with LendingPoint for close to a year and from the first loan application experience to the refinance process I have found an exceptional Company with the best stewardship in the industry. The loan process is seamless, the website is very user-friendly and from the Sales team to the Service team, one would not find themselves in better hands. Good Stewardship. Thank you LendingPoint.


BARB CABALLERO

07 January, 2022

trustpilot-stars

Four Stars

I am so glad that I chose the right Lender. After doing my research and going through my mail I applied and immediately receive a couple of calls with informative options. Thank You team for understanding my financial needs at this time. My Representative follow through till the end with his Financial knowledge, which put my mind at ease, and felt a sense of security.


STEVE G

07 January, 2022

trustpilot-stars

Really easy process

Really easy process, Shakim Tilley was super helpful and efficient


BARRY WIMBERLEY

06 January, 2022

trustpilot-stars

Rahjan Randell ya all the best

Rahjan Randell ya all the best. Can't thank you enough for reaching out to me..


JAMIE WISTERMAN

06 January, 2022

trustpilot-stars

Everything was quick and easy

Everything was quick and easy! Got it done with one phone call and one email.


MUSTAFA DADA

06 January, 2022

trustpilot-stars

Kerry was super nice and professional…

Kerry was super nice and professional at the same time. Spoke very clamly and helped out with all my concerns


JAMES GOT JOKES

06 January, 2022

trustpilot-stars

I was pleased with the process

I was pleased with the process. My representative was friendly and professional. The loan they offered suited my needs.


PAMELA

06 January, 2022

trustpilot-stars

Josh Shaw was very helpful

Josh Shaw was very helpful. We started a loan process with another company prior to searching reviews on the bbb. We then began the process with LendingPoint and were pleasantly surprised with the immediate attention to our needs from Josh.


TASHA V

06 January, 2022

trustpilot-stars

5 STARS

Lening point has helped me tremendously I would recommend them. Smooth process and fast and efficient. Thanks as well to Toya and the entire lending point team. Everyone there is super helpful.


JULIE

05 January, 2022

trustpilot-stars

Tanya was amazing!!

Tanya was amazing!!

1

2

3

4

5