Frequently Asked Questions

Your questions, answered.

Top Questions

  • Who is LendingPoint?
    LendingPoint is a provider of unsecured personal loans for consumers across the credit spectrum. By combining technology and proprietary algorithms, we’re driving a better lending and borrowing experience by finding more reasons to say “yes.” Now serving hundreds of thousands of consumers, we’ve expanded into small business, and merchant point-of-sale lending solutions to further unlock access to affordable loans.
  • Privacy & Security Policies
    To review our privacy and security policies, please visit: https://www.lendingpoint.com/privacy-notice/
  • How does LendingPoint keep my personal and bank information safe?
    LendingPoint takes extensive precautions to protect your personal information. We use robust industry-leading procedures and safeguards, including encryption, to secure and protect your personal information. Further information regarding LendingPoint’s security policies and procedures can be found here: https://www.lendingpoint.com/terms-of-use.
  • What states are LendingPoint loans offered in?
    We offer loans to consumers in 48 states and the District of Columbia. Currently we do not offer loans to consumers in Nevada and W. Virginia.
  • How much can I borrow?
    Our personal loans range from $2,000 to $36,500. The loan amount you may be approved for depends upon your individual credit profile and the information you provide during the application process. The maximum loan amount offered is based upon what is believed to be affordable for you. We take several factors into consideration including your current DTI (debt-to-income ratio) and PTI (payment-to-income ratio).
  • How can I use my LendingPoint loan?
    You can use your loan for whatever legal personal expense or purchase you choose. Consider it a debt consolidation loan, a wedding loan, an unexpected medical expense loan, a fix-my-car loan, an I-need-a-vacation loan, or a kitchen remodel loan. It’s up to you.
  • Does applying impact my credit score?
    In one word, no. Providing your basic information to view loan options does not impact your credit score. To determine how much you qualify for, we conduct a “soft pull” of your credit, which is a simple data request so that we can view your credit report. If you select a loan option from us, before final approval we require a “hard inquiry” to verify the information you’ve provided on the application. This “hard inquiry” will be seen as an inquiry on your credit report.
  • What fees are associated with a LendingPoint loan?
    There are no fees or obligations to apply for a loan, and we never charge for extra payments or loan prepayments. Depending on your state, there may be an 0-6% origination fee included in your total loan amount.
  • Do you offer joint or cosigned loans?
    At this time, LendingPoint does not offer joint or cosigned loans. We offer personal loans based on an individual credit profile, taking into account only the applicant’s information and income (not joint or household).
  • How long does it take to receive a preliminary approval decision?
    Based on your credit picture and the information provided on the application, LendingPoint returns your loan offer(s) in just seconds. Once you have selected your preferred loan option, we’ll ask for some additional information and documents. After all required documentation has been received and verified, a final underwriting review and loan approval is completed.
LendingPoint is an Atlanta-based lender and servicer, redefining who can access money at fair rates.

USA PATRIOT ACT NOTICE: IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

* Applications submitted on this website may be funded by one of several lenders, including: FinWise Bank, a Utah-chartered bank, member FDIC; LendingPoint, a licensed lender in certain states. Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates ("APR") may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 6% may apply depending upon your state of residence. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. Loans are offered from $2,000 to $36,500, at rates ranging from 9.99% to 35.99% APR, with terms from 24 to 60 months. Georgia loans have a minimum $3,500 loan amount. For a well-qualified customer, a $10,000 loan for a period of 48 months with an APR of 23.72% and origination fee of 6% will have a payment of $324.48 per month. (Actual terms and rate depend on credit history, income, and other factors.) Customers may have the option to deduct the origination fee from the disbursed loan amount if desired. The total amount due is the total amount of the loan you will have paid after you have made all payments as scheduled.

1. Alimony, child support, or separate maintenance income need not to be revealed if you do not wish to have it considered as a basis for repaying this obligation.

2. The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning FinWise Bank is the FDIC Consumer Response Center, 1100 Walnut Street, Box #11, Kansas City, MO 64106. The federal agency that administers compliance with this law for LendingPoint is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.

Click here to see our current list of state licenses

LendingPoint's NMLS #1424139 Visit NMLS Consumer Access