LendingPoint Personal Loan Review

LendingPoint is a financial technology company that offers loans from $2,000 to $36,500 for borrowers with fair credit scores.
LendingPoint Loan Review
Mateo Beltroy
Author: Mateo Beltroy

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About LendingPoint

LendingPoint is a financial technology company that provides unsecured loans for borrowers with fair credit.

LendingPoint looks at a borrower’s full financial history to determine creditworthiness. They look at factors such as income, credit score, employment history, debt repayment history, etc.

LendingPoint is headquartered in Kennesaw, GA, and was founded in 2014.



LendingPoint Loan Details
Minimum credit score/credit range
7.99% - 35.99%
Loan amounts
$2,000 - $36,500
24 - 60 months
Approval turnaround
Next business day
All States (Except Nevada & West Virginia)
Late fee - $30
Other fees
Origination fee - Up to 10%

Who Is LendingPoint Best For

LendingPoint is great for borrowers with a fair credit score and a relatively healthy financial history. Even with a fair credit score, LendingPoint may approve a borrower’s loan if they have a steady employment history, decent income, and a healthy loan repayment history.

LendingPoint comes with high origination fees compared to other lenders in the same category. With origination fees of up to 10% depending on the state, LendingPoint may not be a good option for borrowers with good credit as you can find other lenders with more favorable terms.

LendingPoint can be good for borrowers looking to take on a smaller loan for smaller expenses. LendingPoint allows loans as small as $2,000, which is often times all the borrower needs.

LendingPoint Personal Loan Uses

LendingPoint is not very restrictive on what the loan is used for. 

Some common uses for their loans include debt consolidation, medical expenses, home renovations, vacations, and relocation/moving costs.

How to Contact LendingPoint

LendingPoint’s customer support team is available at 888-969-0959 Monday to Friday from 8:00 AM to 12 AM ET, Saturdays from 10:00 AM to 9:00 PM ET, and Sundays from 10:00 AM to 4 PM ET. 

Our Verdict

LendingPoint is a solid lender for borrowers looking to get a loan with fair credit. They are best for borrowers looking to take out smaller loans for smaller expenses.

We think that the loan origination fees are very high. This can be a huge con for LendingPoint, especially because there are other lenders available that do not charge such a high origination fee. 

If you’re a borrower with higher credit, it may be worth exploring other options as other lenders have loans available with better terms than LendingPoint.

If you are a borrower with fair credit, you may not have as many options. LendingPoint is still a strong option among fair credit lenders.

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