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LendingPoint: Personal Loan Review

Updated: August 3, 2022

The basics

Estimated APR

9.99% - 35.99%

Min. Credit Score

585+

Max. DTI Debt to Income Ratio

40%

Origination Fees

0% - 6%

Late Penalties

$30

Prepayment Fees

$0

Good for: Fast funding

Our verdict

LendingPoint offers consumers loans with a quick approval and funding process, even for people with bad credit. However, the maximum APR is on the high side.

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Beyond the basics

Fast funding

Low credit scores eligible

No prepayment penalty

Loan Amounts

$2,000 to $36,500

Loan Terms

24-60 months

Time to Funding

1 business day

Full review

Lender description LendingPoint's loans are designed to help credit rebuilders and people with newer credit profiles reach their financial goals.

Best used for

  • Debt consolidation
  • Home improvement and appliances
  • Car repairs
  • Weddings
  • Credit card refinancing
  • Medical expenses
  • Moving expenses
  • Wedding

Pros & cons

  • Low credit score threshold
  • Fast loan approval and funding
  • No prepayment fee
  • High maximum interest rate
  • Doesn't allow cosigners or co-borrowers
  • Possible origination fee

Most suitable for

  • Consumers with bad credit
  • Individual loan applicants
  • Consumers looking for funding by the next business day (after loan approval)

How to qualify You need to be at least 18 years old with a government-issued photo ID, social security number, and verifiable bank account in your own name. Proof of employment and income, your most recent bank statements, and a voided check can help expedite the approval process.

How to apply Apply online or by phone at 888-969-0959.

Footprint LendingPoint loans are available in 47 states and Washington, D.C. LendingPoint loans are unavailable in Nevada and West Virginia.

Loan example $10,000 loan for a period of 48 months with an APR of 24.34% and origination fee of 7% will have a payment of $327.89 per month