LendingPoint Personal Loans Review 2022

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 makes loans to people with credit scores as low as 580. In this 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 is the right option for your particular financial situation. After all, you may need a bit of extra money, but you won’t want to get stuck in a high APR loan with an awful repayment schedule and unfairly high fees.

Pros and Cons of LendingPoint


  • Approval for borrowers with credit scores as low as 580.
  • Funds deposited by next business day.
  • Pre-approval with only a soft credit check to avoid affecting your credit score.


  • Interest rates are a bit higher than the competition, even those specializing in loans for poor credit
  • Cosigned and joint loans are unavailable
  • Doesn’t report to Equifax, which prevents credit building

What Are LendingPoint Personal Loans?

LendingPoint is a financial technology (fintech) company that affordable provides personal loans for individuals with lower credit scores. The company puts an emphasis on evaluating factors outside general FICO scoreslooking at overall debt-to-income ratios and payment-to-income ratios, making it a smart choice for those with fair credit.

LendingPoint requires a minimum credit score of 580 and provides funding from $2,000 to $36,500. Interest rates start at 9.99%, which is a bit high compared to other lendersand can go up to 35.99%.

A positive is its fast next-day funding once…

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