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LendingPoint Personal Loan Guide

LendingPoint Personal Loans offer a seamless and fast approval process, making it the ideal choice for individuals seeking financial flexibility and the opportunity to improve their creditworthiness.


Fair-Credit Friendly

Approvals down to ~640 FICO; flexible underwriting considers income, not just credit

Small Loans, Big Control

Borrow $1K–$36.5K—ideal for modest expenses without over-borrowing 

Fixed Rate, No Prepay Penalty

Lock in your rate and pay off anytime without fees

APR Review After 6 Months

On‑time payments may trigger an automatic APR review for potential rate reduction

  • Fair-Credit Approval: Opportunity Meets Technology+

    With loan sizes from $1,000 to $36,500, LendingPoint is ideal for borrowers needing modest amounts—like car repairs, small weddings, or emergency vet bills—without committing to large loans they don’t need.

  • Borrow Smart, Not Too Much+

    With loan sizes from $1,000 to $36,500, LendingPoint is ideal for borrowers needing modest amounts—like car repairs, small weddings, or emergency vet bills—without committing to large loans they don’t need.

  • Rewarding Responsible Behavior+

    After six months of timely payments, LendingPoint may re-evaluate your loan to offer a lower APR. This incentive empowers borrowers to build discipline—and possibly save on interest.

  • No Cosigner Option—One Borrower Only+

    LendingPoint does not accept co-signers or joint applications. This makes it simpler for individuals to qualify alone—but removes the chance to boost approval with a partner.


Top U.S. Personal Loan Options

  • LendingPoint Personal Loan – Borrow $1,000–$36,500 (up to $36.5K), APRs from 7.99%–35.99%, terms of 24–72 months, origination fee 0%–8%, no prepayment penalties. 
  • SoFi – Loans up to $100,000, APRs ~9%–29.99%, no origination fee, plus member benefits.
  • Upstart – Up to $50,000, APRs ~6.7%–35.99%, alternative data boosts approval for fair-credit borrowers.
  • LightStream – $10,000–$100,000, low APRs (6.94%–25.79%), same-day funding for strong-credit applicants.
  • Credible Marketplace – Compares offers from top lenders, including LendingPoint, via one soft credit check.
Traditional Bank & Credit Union Loans

Conventional banks and credit unions typically offer low-interest rates and personal service, but may require excellent credit, extra documentation, and longer wait times. LendingPoint delivers similar benefits—fixed APRs, clear repayment structure, and regulated service—while avoiding lengthy paperwork and slow processes. It’s a strong digital alternative for those seeking convenience.

LendingPoint Personal Loan

LendingPoint provides unsecured personal loans between $1,000 and $36,500, with terms spanning 24 to 72 months and APRs ranging from 7.99% to 35.99%. An origination fee of 0%–8% is deducted up-front, reducing the net amount disbursed. The application begins with a soft credit check, allowing rate estimates without affecting credit scores, and transitions to a hard pull only after approval. Once approved, funds are deposited—often by the next business day. Borrowers receive predictable monthly payments, no prepayment penalties, and potential APR reductions after six months of on-time payments. Adjusting payment dates annually is allowed for scheduling flexibility.

Online Lending Platforms

LendingPoint competes with platforms like SoFi, Upstart, and LightStream in offering user-friendly online loans. Soft pre-qualification, quick funding, and transparent repayment are standard across these options. LendingPoint shines for borrowers seeking medium-sized loans, fast access, and a solid reputation (A+ BBB rating, 4.8 Trustpilot rating).

Credit Union & Peer-to-Peer Options

Credit unions and some peer-to-peer lenders offer loans backed by community-driven criteria and may allow co-signers or secured options. LendingPoint takes a similar lending approach to digitally blended institutions—balancing regulatory oversight with fast access and no collateral requirements. Unlike some P2P platforms, LendingPoint is now chartered and funded by banks, offering both stability and digital agility.

Borrowers With Fair Credit

LendingPoint works with those who have moderate credit (FICO ~600+), with APRs starting as low as 7.99% for strong applicants and up to 35.99% for higher-risk profiles. While origination fees and APR may be higher than prime lenders, it’s more favorable than payday-style credit and includes tools for early repayment and soft-pull rate shopping. Maintained repayment and a flexible term structure make it an effective tool for credit rebuilding.

How LendingPoint Loans Affect Your Finances & Credit

LendingPoint’s soft credit check ensures no impact during rate shopping. A hard inquiry follows application acceptance, possibly dipping your score by a few points. All payments—and balances—are reported to credit bureaus, meaning steady on-time payments support your credit growth, while missed ones hinder it. The loan’s installment structure also reduces reliance on credit cards, improving debt-to-income and utilization ratios. Plus, with no penalties for paying early, you can save money and bolster your credit mix by repaying faster.

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