Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates and terms
Fees and Discounts
Customer Experience
LendingPoint Personal Loans
Fixed APR
Range of fixed rates available from this lender
15.49% - 35.99% APR
Min. credit score
Minimum credit score needed to qualify
Loan amount
Total amount you can borrow from this lender
$2,000 to $25,000
Time to fund
How long it takes to receive your money
As soon as the next business day

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LendingPoint is a fast-growing direct lender that makes personal loans of up to $25,000 as soon as the next business day to borrowers with credit scores of 580 and up.

LendingPoint personal loans are best if you:

  • Don’t have great credit
  • Need a smaller personal loan fast
  • Want the option to pay your loan off early

LendingPoint interest rates and loan details

LendingPoint can approve loan offers for just about any purpose, including home improvement projects, medical bills, car repairs, moving, or getting married. Because LendingPoint primarily serves “near prime” borrowers with fair credit, the rates make credit card refinancing and other forms of debt consolidation worthwhile.

lendingpoint personal loans
Fixed rates15.49% - 35.99% APR
Loan size$2,000 to $25,000
Loan terms2 to 5 years
Min. credit score580
Time to get fundsAs soon as the next business day
  • Origination and other fees from 0% to 6%
  • No prepayment penalty
  • Photo I.D. issued by U.S. federal, state, or local government required
  • Social Security number required
  • Not available in CO, MA, MD, NV, NY, VT, WV, or WY
Loan useAny personal expense or purchase
Key benefits
  • Available to "near prime" borrowers with credit scores as low as 580
  • Streamlined approval and application process
  • No prepayment penalty
Best for
  • Below average credit
  • Unexpected expenses
  • Smaller loan amounts
All APRs reflect autopay and loyalty discounts where available | Read more about Rates and Terms

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LendingPoint personal loans review

LendingPoint specializes in lending to “near prime” borrowers with credit scores in the 600s and will go all the way down to 580. If your credit score is in this range, LendingPoint’s rates may be very competitive with what other lenders offer.

But if you have an excellent credit history, you probably won’t be wowed by LendingPoint’s interest rates — other lenders can offer lower rates to well-qualified borrowers.

If you’re looking to borrow $25,000 or less, LendingPoint could be a good option for you. But if you need more than LendingPoint’s loan limit, there are some lenders who offer personal loans up to $100,000.

Also, keep an eye out for fees like late fees (charged for a late payment) and origination fees. Like most lenders, LendingPoint charges an origination fee and other fees of anywhere from 0% to 6% of the loan balance, depending on your credit report and state of residence.

If you want to repay your entire loan balance all at once, LendingPoint will let you do that without charging you a prepayment penalty.

How to qualify

There are four major criteria you need to hit to qualify for a personal loan with LendingPoint:

  • Credit score: One thing LendingPoint has going for it is that it’s comfortable lending to “near prime” borrowers with credit scores as low as 580.
  • Employment: If you’ve been at your current job for at least 12 months, LendingPoint considers that a “plus.” It’s not a big deal if you’re retired or self-employed, as long as you have verifiable income.
  • Annual income: The minimum income to get approved for a loan is $20,000, but the more you make (and the lower your current level of debt) the more you’ll be able to borrow. Having a “responsible banking and financial track record” will also score points with this lender.
  • Residency: You need to have a Social Security number and a bank account in your name. You’ll typically be expected to provide other documentation, including proof of income, statements from your financial institution, and a driver’s license or other government-issued photo I.D.

Fast loan approval

Once you’ve submitted all the required documents, LendingPoint says it can often provide a final review and loan approval in just a few hours, allowing you to get your funds as soon as the next day.

Although not available in Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New York, Vermont, West Virginia, or Wyoming, LendingPoint operates in all other 40 states and Washington, D.C.

If your application is approved, your loan may be funded by one of several lenders, including:

  • FinWise Bank
  • First Electronic Bank
  • LendingPoint LLC

FinWise and First Electronic banks are FDIC members chartered in Utah, while LendingPoint LLC is a limited liability company headquartered in Kennesaw, Georgia.


You can pay your loan back online or by mail, but LendingPoint says most customers set up autopay and have payments taken directly out of their bank account. You can make bi-weekly or monthly payments, but most LendingPoint customers use a 28-day payment schedule that syncs with their paycheck.

How LendingPoint compares to other lenders

Here’s how LendingPoint compares to other lenders who specialize in serving borrowers with fair to good credit.

Fixed rates8.27% - 35.99% APR49.95% - 35.99% APR15.49% - 35.99% APR
Loan amounts$1,000 to $50,0005$2,000 to $35,000$2,000 to $25,000
Compare rates from all of these lenders without affecting your credit score. 100% free!

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All APRs reflect autopay and loyalty discounts where available | Read more about Rates and Terms

How LendingPoint compares to more lenders: The best personal loans

How to take out a personal loan with LendingPoint

When taking out a personal loan, it’s wise to compare rates you may qualify for with multiple lenders to find the best personal loan for your needs. In addition to interest rate, look for a repayment term and monthly payment that works for you.

Credible allows you to compare prequalified personal loan rates from multiple online lenders, including LendingPoint, who offer personal loan options.

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  • One simple form, easy to fill out and your info is protected
  • More options, pick the loan option that best fits your personal needs
  • Here for you. Our team is here to help you reach your financial goals

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The company above is one of Credible’s approved partner lenders. Because they compete for your business through Credible, you can request prequalified rates from them by filling out a single form. Then, you can compare your available options side-by-side. Requesting prequalified rates is free and doesn’t affect your credit score. Credible receives compensation if you close a loan with one of our partner lenders. The rates you receive and the fees you pay (if any) are not impacted by this compensation.

About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 4.99-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

4The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 25.79% and 36 monthly payments of $37 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

5This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the US. Duplicate offers received are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website.

Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Loans are not available in West Virginia or Iowa. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5100. The minimum loan amount in GA is $3,100.

6​If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

About the author
Matt Carter

Matt Carter is a Credible expert on student loans. Analysis pieces he’s contributed to have been featured by CNBC, CNN Money, USA Today, The New York Times, The Wall Street Journal and The Washington Post.

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