LendingPoint: Personal Loan Review

Personal LoansPersonal Loan ReviewsLendingPoint

Personal Loan Review

The basics

Estimated APR

20.38% – 24.75%

Min. credit Score


Max. DTI Debt to Income Ratio


Origination Fees

0% – 6%

Late Penalties


Prepayment Fees


Good for: Low credit score requirement, fast funding

Our verdict

LendingPoint offers consumers loans with a quick approval and funding process, even for people with bad credit. However, the maximum interest rate of 35.99% APR is on the high side, so if your credit score isn’t great, you’ll pay the price down the road.

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Beyond the basics

Fast funding

Low credit scores eligible

No prepayment penalty

Loan Amounts

$2,000 to $25,000

Loan Terms

24-48 months

Time to funding

1 business day

BBB Rating



J.D Power 2019 U.S. Personal Loan Satisfaction Study, Customer Satisfaction Index

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
  • Car repairs
  • Weddings

Pros & cons

  • Low credit score threshold
  • Fast loan approval and funding
  • No prepayment fee
  • High maximum interest rate
  • Doesn’t allow cosigners or coborrowers
  • 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’ll need a FICO score of at least 585 and a minimum annual income of $35,000.

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

Footprint LendingPoint loans are available in 49 states and Washington, D.C. West Virginia is the only state where LendingPoint loans are unavailable.

Loan example A $10,000 loan with an origination fee of 6% for a period of 24 months with an APR of 24.0980% may have a payment of $529.20 per month.