LendingPoint, LLC

LendingPoint is an online lender offering personal loans primarily to consumers in the fair-credit range, meaning those who may not qualify for the best rates at traditional banks but have some credit history to work with. LendingPoint also provides point-of-sale financing for retailers, allowing customers to apply for installment financing at the time of purchase.

LendingPoint personal loans are unsecured and can be used for debt consolidation, home improvement, medical bills, major purchases, and other personal needs. The application is completed online, and LendingPoint uses a soft credit pull for pre-qualification so you can see estimated terms without affecting your credit score. A hard inquiry occurs when you formally apply.

LendingPoint charges an origination fee on many of its loans, which is deducted from the loan proceeds. Review the full fee schedule and the annual percentage rate before accepting an offer. Because LendingPoint targets fair-credit borrowers, rates are typically higher than those available to consumers with good or excellent credit from banks or credit unions.

Compare LendingPoint's offer against quotes from credit unions, community banks, and other online lenders before committing. Credit unions in particular often provide personal loans to members with fair credit at competitive rates. Calculate the total amount you will repay over the full loan term, including all fees and interest, so you can make a genuine comparison across lenders.

LendingPoint loans are originated through FinWise Bank, which is FDIC-insured. Availability and terms vary by state. Read all loan documentation carefully, including the full APR and repayment schedule, before signing any agreement.