To repay your LendingPoint loan, you can set up payments for twice monthly, instead of just once. Setting up two loan payments per month can make the repayment easier on your budget. You can make payments by check, ACH payments, online, or over the phone.
You do not have to have excellent credit to apply for a loan with LendingPoint. They offer loans to those with credit scores from 580 to 850. Higher credit scores typically mean better loan rates and terms. But, if you have bad credit, you can still apply for a loan.
LendingPoint does not offer joint loans or loans with a cosigner. They do not offer loans for a household. Qualifying for LendingPoint loans is based entirely on the applicant's personal information. You cannot have another person listed on the loan.
The personal loans for LendingPoint have a small range of lending amounts. The minimum loan available is $2,000. The maximum loan available is $25,000. The loan amount you receive depends on your qualifications.
Qualifications to Apply for LendingPoint Loans
Useful Information for LendingPoint Loans
LendingPoint started in 2015, in Atlanta, Georgia. The company started as a way for people with lower credit scores to still receive a loan. By 2016, LendingPoint had funded over $100 million in consumer loans. They were also offering loans to people in 13 states.
Today LendingPoint loans are available in 49 states. They are on track to hit $100 million in loan originations per month in 2019.
LendingPoint was one of the fastest-growing banks in August of 2019. In the first half of 2018, they funded more loans than all of 2017. Over the years they have received awards for:
Company headquarters are in Atlanta, Georgia. They also have offices in New York City and San Diego.
Yes. You can apply for LendingPoint loans online.
LendingPoint offers loans for people with credit scores from 580 to 850. Loan approval requires other qualifications as well.
The minimum loan amount is $2,000.
The maximum loan amount with LendingPoint is $25,000.
Term lengths for LendingPoint loans range from 12-months to 5-years.
The interest rates for LendingPoint range from 9.99% to 35.99%. These rates are competitive with other online lending companies. Your specific interest rate depends on your loan information and qualifications.
Yes. LendingPoint offers fixed rates for the life of the loan.
LendingPoint offers personal loans. Once you receive the loan, you can use the money a variety of needs. Those include home improvements, debt consolidation, vacations and medical bills. You can also use the money for large purchases, and wedding or moving expenses.
To apply for a LendingPoint loan, you will need proof of employment and income. You need your most recent bank statement and a current driver's license.
Once LendingPoint has all the information they need, they can approve your loan in a few hours. Approval time is case-by-case. Some loan approvals may take longer.
The money from LendingPoint can transfer into your bank account in one business day. Not all loans process that quickly.
LendingPoint requires waiting more than 180 days before you reapply for a loan.
You can make a payment on your LendingPoint loan through ACH, phone, online, or by mailing in a check.
Yes. There is not a penalty for paying your LendingPoint loan off early.
LendingPoint offers security measures that comply with federal laws. Their computers have safeguards. Their files and buildings are secure.
The LendingPoint website does not list an app.
Through phone or email. You can follow LendingPoint online through Facebook, LinkedIn, Pinterest, and Twitter.