LendingPoint Review: Is It a Good Personal Loan for Fair Credit?
Getting a loan when you have mediocre credit is no easy task. You can face astronomical interest rates — or outright rejection.
LendingPoint is a personal loan company that lends to fair-credit borrowers who want fast funding and flexible underwriting. The trade-offs, however, are original fees and smaller maximum loan amounts.
So is LendingPoint right for you? In this independent LendingPoint review, we’ve taken the time to research and analyze the company’s offerings and compare everything to the competition.
From the interest rate range to the minimum credit score needed to secure a LendingPoint personal loan, we’ll help you determine whether this online lender could work for your particular financial situation.
What Is LendingPoint?
LendingPoint is a financial technology (fintech) company headquartered in Kennesaw, Georgia that provides affordable personal loans to individuals with fair and above credit scores. The company, which was founded in 2014, puts an emphasis on evaluating factors outside general FICO scores, looking at overall debt-to-income ratios and payment-to-income ratios, making it a smart choice for those with fair credit.
LendingPoint doesn’t disclose its minimum credit score requirements, but provides funding from $1,000 to $36,500. Interest rates start at 7.99%, which is a bit high compared to other lenders, and can go up to 35.99%.
A positive is its fast next-day funding once you’ve been approved — a strong contender if you need money immediately for an emergency.
LendingPoint Rates, Terms and Fees
Here’s a look at LendingPoint’s rates, terms, fees and more.
| Minimum credit score | Not disclosed |
| APR range | 7.99%-35.99% |
| Loan amounts | $1,000 to $36,500 |
| Terms | 2 to 6 years |
| State availability | Not available to borrowers in Connecticut, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont, West Virginia or the District of Columbia |
| Origination fee | Up to 10% may apply depending upon your state of residence |
| Funding speed | As soon as the next business day |
Pros and Cons of a LendingPoint Personal Loan
Here’s a look at the pros and cons of a Lending Point Personal Loan.
Pros
- Fair-credit friendly
- Fast funding
- Soft-pull pre-qualification
- Flexible terms
- Possible rate reduction for on-time payments
- No prepayment penalty
Cons
- Origination fee can be steep
- Smaller maximum loan amount than many lenders
- High top-end APR
- No co-signers/co-borrowers
- Not available in all states
LendingPoint Eligibility: Who Qualifies?
To qualify for a LendingPoint loan, you must:
- Be 18 or older
- Provide a U.S. government-issued ID
- Have a Social Security number
- Have a minimum income of $35,000
- Have a verifiable personal banking account in your name
- Not live in Connecticut, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont, West Virginia, and the District of Columbia.
It’s also important to note that LendingPoint does not offer joint or cosigned loans.
How to Apply for a LendingPoint Loan
To apply for a personal loan, visit the LendingPoint website. Here’s what the process looks like.
- Answer questions about your identity, desired loan amount and loan purpose.
- Provide basic contact information and see your loan terms. (This step involves a soft credit pull.)
- Review loan offers and choose the one that fits your budget.
- Fill out a full application, which will include your Social Security Number and employment information.
- Provide any other required documentation to verify your identity and income. This could include pay stubs or bank statements.
- Review and sign your loan agreement.
- Once approved, you’ll typically get funds deposited into your bank account as soon as the next day.
Is LendingPoint Legit?
Yes, LendingPoint is a legit lending institution. Established in 2014, it has an A+ rating from the Better Business Bureau and a 4.5 out of 5 score on Trustpilot.
However, negative reviews cite poor customer service, issues with reporting to credit bureaus and difficulties with the automated payment system. Fees are another sticking point, according to reviewers. Origination fees up to 10% may apply depending on your state.
As with any financial product, we recommend reviewing other companies’ personal loans before proceeding with LendingPoint.
LendingPoint Alternatives
LendingPoint isn’t the only company that offers fair credit loans. Other options include Pennie, a loan engine by MoneyLion. Pennie offers income-based personal loans up to $250,000 with rates starting at 5.99%.
Upstart and LendingTree offer similar loans, too.
As with any financial product, we recommend reviewing other companies’ personal loans before proceeding with LendingPoint.
Frequently Asked Questions (FAQ)
Yes. LendingPoint is a legitimate direct lender that’s been operating since 2014 and is headquartered in Georgia. It holds a Better Business Bureau rating and a large number of customer reviews on sites like Trustpilot, with positive feedback often citing fast funding and helpful representatives, while complaints tend to center on fees and payoff or communication issues. As always, read your loan agreement and confirm the origination fee before accepting.
LendingPoint markets itself to fair-credit borrowers and says it weighs more than your credit score, so it can approve applicants who might be turned down by stricter lenders. However, it does not disclose its minimum credit score. You’ll generally still need to meet a minimum credit and income threshold, and the strongest terms go to higher-credit applicants.
No. LendingPoint does not accept co-signers or co-borrowers — applications are individual. If you’d benefit from a co-signer to qualify or get a better rate, you’ll need to look at a lender that allows them. Otherwise, you can work on the factors LendingPoint does weigh, like income and existing debt, before applying.
LendingPoint advertises fast funding — many borrowers can receive their money as soon as the next business day after final approval, though timing depends on verification and your bank’s processing. Prequalification itself takes only minutes and uses a soft pull that won’t affect your credit.
Michael Archambault is a former senior writer for The Penny Hoarder specializing in technology. Managing Editor Katie Sartoris updated this post for 2026.
