LendingPoint was established in 2014 offering personal loans throughout America. The company is based in Kennesaw Georgia and has an A+ rating with the BBB. The company specializes in fair credit loans starting at 590+. 

Apply Now with LendingPoint

Quick Snapshot

  • Loan Amounts:  $2000 to $25,000 
  • Credit Score:  590+ 
  • APR:   15.49% to 34.99%
  • Terms:  2 to 5 years
  • Fees:  Origination fees range from 0 to 6%
  • LendingPoint Stands Out
    • The company specializes in fair credit loans starting at 590+.  
    • Soft Pull only to start

 

Who Should Apply at LendingPoint

If your credit score is 590+ and you are looking for debt consolidation to pay off high interest debt, LendingPoint is an excellent option

Terms and Conditions

Bottom Line

LendingPoint Detailed Review

Quick Snapshot

  • Loan Amounts:  $2000 to $25,000 
  • Credit Score:  590+ 
  • APR:   15.49% to 34.99%
  • Terms:  2 to 5 years
  • Fees:  Origination fees range from 0 to 6%
  • LendingPoint Stands Out
    • The company specializes in fair credit loans starting at 590+.  
    • Soft Pull only to start
    • Was established in 2014 offering personal loans throughout America. The company is based in Kennesaw Georgia and has an A+ rating with the BBB.
    • Lending Point combines data and technology to create a proprietary risk model that adds new, multivariate dimensions to credit analytics that go beyond the traditional FICO scoring process.  This model allows Lending Point to get a complete financial story of the consumer in order to approve more people who would otherwise be overlooked by traditional credit models.
    • If all criteria are met, applicants can qualify for more than one loan
    • Lending Point now offers AccessPoint - which allows existing customers to refinance their loans once they have reached 25% of their principal to ask for an additional increase in their loan

What's good about LendingPoint?

You will want to use LendingPoint

  • When your looking for a debt consolidation loan or to pay off existing credit card balances
  • When your credit score is 590+
  • If you want to repair your credit

What's bad about LendingPoint?

You will not want to use LendingPoint

  • If you have declared bankruptcy and have not been discharged over 12 months
  • If your credit score is below 590 and/or you have current collections
  • If you have very good to excellent credit above 700+ with a solid credit history
Loan Amounts $2000 to $25000
Required Credit Score 590+ Lending Point focuses on your future, not your past Responsible Banking and Financial Bank Record Recent Credit Behaviour is current - shows you are trying to improve your credit
Doesn't lend in Colorado,  Connecticut,  Iowa,  Louisiana,  Maine,  Massachusetts,  Maryland,  Nevada,  New Hampshire,  New York,  North Dakota,  Rhode Island,  South Carolina,  Vermont,  West Virginia,  Wisconsin,  Wyoming
Minimum Annual Income $20000
Types of Income All verifiable Incomes
Variable Rate Option Not at this time
APR Range 15.49% to 34.99%
Loan Term 2 - 4 years
Repayment Schedule Bi-Weekly, Monthly
Credit Inquiry Soft
Fees and Closing Costs Only Origination Fees - (up to 6%)
Secured Loans Unsecured
Co-Signer Not Currently
Direct Deposit Yes - must have a valid checking account
Loan Purpose Personal Loan, Wedding, Home Improvements, Trip, Pay off Credit Cards, Debt Consolidation
Qualifications U.S. Citizen, over 18 years of age,
Allows Military Yes
Legal Documents Required U.S. Citizen,
Number of Offers Yes
Customer Service email or telephone

LendingPoint helps consumers that are looking for help with a poor/bad credit score to borrow for almost any requirement including debt consolidation.  

LendingPoint combines data and technology to create a proprietary risk model that adds new, multi-variate dimensions to credit analytics that are beyond the traditional FICO scoring process. Thier model allows the company to get a complete financial story of the consumer in order to approve more people who otherwise could have been overlooked by traditional credit models based on FICO. 

Applying with LendingPoint will not harm your Credit Score

LendingPoint requires a soft credit pull and it will not affect your credit score.

LendingPoint Offers Personal Loans in the Following States:

  • AL-AK-AZ-AS-CA-DE-DC-FL-GA-HI-ID-IL-IN-KS-KY-MS-MI-MN-MO-MT
  • NJ-NH-NM-NE-NC-OK-OH-OR-PA-SD-TN-TX-UT-VA-WA

LendingPoint Credit Review Process:

Note from LendingPoint CEO Tom Burnside:

Tom Burnside, the CEO, explains in a short video that LendingPoint is not focused on your past,

they are focused on your future.

Additional Terms:

Identification Requirements: LendingPoint requires U.S. Federal, state or local Government issued photo I.D.

Can We apply Together: LendingPoint does not allow co-applicants

Payment Options

  • Automatic withdrawal from your account
  • Check by mail

Verification Documents

  • Recent pay stubs
  • Drivers license or other photo ID like a passport
  • Proof of income W2

Additional Information when Receiving the Loan Offer

You will require proof of income, your bank statement and a voided check 

Applying if Discharged from Bankruptcy

Your discharge must be 12 months or more. The company will review your current income and employment and many other items. 

Recommendation 

We would recommend LendingPoint when:

  • Your credit score is rated as fair credit
  • You're looking for a debt consolidation loan
  • Wanting to repair your credit 
  • Paying off credit card balances when your only paying the minimum payment 
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