Lending Point Review

Why choose Lending Point?

•  Apply in minutes

Enter basic information and simple documentation online.

• Get a decision right away

You’ll be provided with an offer and payment options in minutes.

•  Funds as soon as the next business day

After loan approval and document validation, funds can be sent to your bank account as soon as the next business day.

Get The Credit You Deserve! They look beyond your credit score at your full credit history.

What are Lending Point requirements?

• You must be at least 18 years of age.
• You must be able to provide a U.S. federal, state or local government issued photo ID.
• You must have a social security number.
• You must have a minimum annual income of $20,000 (from employment, retirement or some other source).
• You must have a verifiable personal bank account in your name.
• You must live in one of the states where LendingPoint does business. As of June 2018, we are in 34 states and the District of Columbia, and growing.

What documents are necessary to get approved for a loan?

1. Proof of employment and income.
2. Most recent bank statements (all pages) and a voided check.
3. Current driver's license or government/state issued ID.

How much can you borrow?

Lending Point Personal loans range from $2,000 to $25,000. The loan amount you may be approved for depends upon your individual credit picture and information provided during the application process.

What is the repayment process like?

The term of the loan is stated in the agreement. Most new LendingPoint loans are being written with a 28-day payment schedule. This means the actual due-date for your loan payment will move almost every month. They also offer traditional monthly payments, as well as bi-weekly payments. You can pay off the money by any of the following ways:

1. AutoPay: Most of customers take advantage of this simple, easy option. Typically set up during the application process, they determine the due date(s) that best suit your budget and cash flow.
2. Online: Click on Make a Payment or Login to access your account and initiate payment from your bank account provided.
3. Certified Funds: Such as a money order, cashier’s check or certified check should be made payable to LendingPoint. The address to send your payment is located on your loan agreement and payment reminders sent via email. 

Does applying affect your credit score?

Clicking on “Apply” and filling out your basic information (name, address, date of birth, social security number, annual income) to see what loan offers are provided, does not affect your credit report, as mostly a soft inquiry is performed. Only the lender can see it on your credit report. If and when you do select a loan offer, the company needs to make a “hard inquiry” to verify the information you’ve provided on the application as part of the approval process. This hard inquiry will be shown on your credit report.