Lender
3.7
/ 5
LendingPoint Review
Update 17.10.2024
LendingPoint Review: Features, Rates, Requirements, and Customer Feedback of 2025

Information

LendingPoint is an online lender that offers unsecured personal loans from $2,000 to $36,500 to cover various financial needs like debt consolidation, medical bills and home improvement projects. They follow federal regulations like the USA PATRIOT Act to ensure a secure borrowing experience.
Legal name
LendingPoint
Short name
LendingPoint
Legal address
1100 Walnut Street, Box #11, Kansas City, MO 64106

About Lender

LendingPoint is a trusted online lender known for being reliable and offering customized lending. They offer flexible personal loans with fast and easy access to cash. They make borrowing easy. the company puts customer first with competitive rates and no hidden fees. The lender follows federal regulations like the USA PATRIOT Act to prevent money laundering and terrorist financing so you can trust LendingPoint as your financial partner.

They offer unsecured personal loans for various needs such as debt consolidation, medical bills, home improvement, travel, taxes, wedding expenses and other personal financial reasons. Applicants go through a review process that does not affect their credit score initially. Final loan approval, amounts, terms and APRs are determined by LendingPoint’s proprietary scoring and underwriting system which considers the applicant’s credit history, financial situation and other factors. They offer flexible and accessible financial solutions to a wide range of borrowers.

lendingpoint review

Key Features

  • Fast Approval. LendingPoint has a quick and easy application process and customers can get approved in as little as 24 hours.

  • Credit Score Flexibility. LendingPoint considers many factors beyond credit score when reviewing loan applications so customers with less than perfect credit can qualify for a loan.

  • Loan Amounts. LendingPoint offers personal loans from with flexible amounts limits depending on the customer’s eligibility and other factors.

  • Fixed Rates. LendingPoint offers fixed interest rates on their personal loans so customers can budget and make their monthly payments on time.

  • Customized Loan Terms. LendingPoint offers customers customized loan terms based on their financial situation and ability to repay the loan so they can repay on time and avoid late fees and penalties.

Pros and Cons

Pros

Cons

How to Apply for a LendingPoint Loan?

Apply for a Loan

  1. Visit website. Go to LendingPoint's official website to start the application process.

  2. Check Your Rate. Look for the option to check your rate, which is usually prominently displayed on the homepage. This step is designed to give you an idea of the loan terms you might qualify for, without impacting your credit score.

  3. Select Loan Amount. Use the slider or input box to choose the amount you wish to borrow. LendingPoint offers personal loans ranging from $2,000 to $36,500.

  4. Select Loan Purpose. From the dropdown menu, select the reason you are seeking a loan, such as debt consolidation, home improvement, medical expenses, or other personal financial reasons.

  5. Fill Out the Application Form. You will need to provide personal information, including your name, address, date of birth, and employment details, among other things, to complete the application form.

  6. Submit Supporting Documents. Depending on the requirements, you may need to upload or submit additional documents that verify your income, employment, and identity.

  7. Review Loan Offer. After submitting your application, wait for LendingPoint to review your information and make a loan offer. This process includes a review of your credit history and financial condition using LendingPoint's proprietary scoring and underwriting system.

  8. Accept Loan Terms. If you receive a loan agreement and agree with the terms, including the APR, loan amount, and repayment period, you can accept the offer to proceed.

  9. Verification and Final Approval. LendingPoint may perform additional verifications before giving final approval for your loan. This might include checking your credit score in more detail or verifying the information you've provided.

  10. Receive Funds. Once your loan is approved and all necessary verifications are completed, LendingPoint will disburse the funds to your account, often as soon as the next business day.

Conditions and Requirements

Conditions

Requirements

15.12.2021
-
Update 17.10.2024
Similar companies