• Online Personal Loans

Online loans made easy through LendingPoint

Online loans from $1,000 – $36,500*
$
Does not impact your credit score*

3 Simple Steps

Check Your Options

Check Your Options

Get started with a simple application to see your payment options with no impact to your credit score.
Finish Application

Finish Application

Select the best loan terms and monthly payment for you and provide some additional information to complete your application.
Receive Funds

Receive Funds

If approved, the funds could be in your account as soon as the next business day.

Experience the power of possibilities

An online loan can help provide the financial resources to make your financial goals possible.
Benefits of debt consolidation may include:
Loans from $1,000 to $36,500

Flexible terms from 24-72 months

Fixed rate and monthly payment
No pre-payment penalty
Apply Now
Checking offers will not impact your credit score

What Is an Online Loan?

An online loan is a personal loan that allows consumers to complete part or all of the borrowing process digitally. Depending on the lender, consumers may be able to check loan options, complete an application, submit supporting documentation, review loan terms, and manage their loan account online.

Online personal loans may be used for a variety of eligible purposes, including debt consolidation, home improvement projects, medical expenses, moving costs, travel expenses, and major purchases.

Loan amounts, rates, repayment terms, eligibility requirements, and funding timelines vary by lender and by applicant qualifications.

How Online Loans Work

Online loans generally follow a similar sequence of steps, though specific requirements vary by lender. Not every applicant will complete every step, and not every application results in a loan offer.

STEP WHAT HAPPENS
1 Check your available loan options.
2 Review any rates and repayment terms offered.
3 Complete the application.
4 Submit any documentation that may be required.
5 Review and accept the loan terms, if approved.
6 Receive funds and begin repayment according to the loan agreement.

Approval is not guaranteed. Funding timelines vary based on lender requirements, verification processes, and banking timelines, and cannot be guaranteed in advance.

Online Loan vs. Bank Loan vs. Credit Card

The table below compares general characteristics of common borrowing options. It is not a statement about any specific institution or product, and it is not a recommendation. Features vary by lender and issuer.

FEATURE ONLINE PERSONAL LOAN BANK LOAN CREDIT CARD
Interest Type Fixed Typically fixed Variable, compounding
Fixed Monthly Payment Yes Typically yes No
Lump-Sum Funding Yes Yes No
Set Payoff Date Yes Yes No
Revolving Balance No No Yes
Collateral Required No (unsecured) Varies by product No
Typical APR 7.99%–35.99% APR through LendingPoint; see disclosures on this page1 Varies by bank and credit profile Varies by issuer and credit profile. The average APR on credit card accounts assessed interest was 22.15% in the second quarter of 20262
Funding Speed Funds are often sent as soon as the next non-holiday business day upon final underwriting approval1 Varies; may take longer Available immediately for existing cardholders
Fees Origination or other fees up to 10% may apply depending on state of residence1 Varies by lender Annual, late, and cash advance fees may apply
Credit Reporting Typically reported to credit bureaus Typically reported to credit bureaus Reported to credit bureaus
Often Used For Planned or unexpected expenses, debt consolidation Borrowers with an existing banking relationship Small, everyday purchases

Consumers should compare rates, repayment terms, fees, total borrowing costs, and eligibility requirements when evaluating available borrowing options. Which option may be appropriate depends on individual circumstances. Approval is not guaranteed.

Choosing between a digital lender and a traditional bank involves more than rates alone. For a closer look at how the two differ on eligibility, servicing, and the application experience, read Online Loans vs. Bank Loans: Which Should You Choose?

More information on average credit card interest rates is published by the Federal Reserve in its monthly Consumer Credit (G.19) release.

What Can Online Loans Be Used For?

Online personal loans may be used for a wide variety of eligible purposes.

Debt Consolidation

Some consumers use personal loans to combine multiple eligible debts into one monthly payment.

Home Improvement

Personal loans may help finance repairs, renovations, or home improvement projects.

Medical Expenses

Consumers may use personal loans for planned procedures or unexpected healthcare expenses.

Moving Expenses

Relocating often comes with transportation, storage, and setup costs that borrowers may choose to finance.

Travel Expenses

Some borrowers use personal loans to help cover travel-related expenses.

Major Purchases

Consumers may use personal loans when making large purchases that require upfront funding.

You can also explore loans by purpose: debt consolidation loans, home improvement loans, medical loans, emergency loans, and vacation loans.

Who May Consider an Online Loan?

Consumers may explore online loans when they:

  • Prefer a digital borrowing experience
  • Want to compare options online
  • Are looking for predictable monthly payments
  • Are financing a planned expense
  • Need funding for an unexpected expense
  • Prefer managing their loan online

Whether an online loan is appropriate depends on individual financial circumstances and goals.

What Lenders May Consider

Eligibility requirements vary by lender. When reviewing loan applications, lenders may consider:

  • Credit history
  • Payment behavior
  • Income
  • Employment information
  • Existing debt obligations
  • Debt-to-income ratio
  • Banking history
  • Identity verification requirements

Approval is not guaranteed. Available rates, loan amounts, and repayment terms vary based on individual qualifications.

For more detail on how these factors are typically weighed, read What Personal Loan Lenders Look for When You Apply.

Alternatives to Online Loans

Depending on individual circumstances, consumers may also consider:

  • Loans from banks
  • Loans from credit unions
  • Existing savings
  • Payment plans offered by a provider or merchant
  • Credit cards
  • Assistance from family or friends
  • Nonprofit or community assistance programs

Consumers should compare all available options, including total borrowing costs, before borrowing.

Frequently Asked Questions

  • What is an online loan?

    An online loan is a personal loan that may be applied for and managed digitally.

  • How do online loans work?

    Consumers typically apply online, review available offers, complete any verification requirements, and receive funds if approved.

  • Does checking my rate affect my credit score?

    Checking your options through LendingPoint does not impact your credit score. According to the Consumer Financial Protection Bureau, a soft credit inquiry — a review of your credit file for a reason other than a new credit application — does not affect credit scores, while a hard inquiry from a new credit application usually does.3 Processes vary by lender, so consumers should review each lender’s disclosures to confirm the type of inquiry used.

  • How quickly can funds be received?

    Funding timelines vary based on approval status, verification requirements, and banking processing timelines. Upon final underwriting approval, funds are often sent as soon as the next non-holiday business day, as described in the disclosures on this page.

  • What can an online loan be used for?

    Personal loans may be used for a variety of eligible purposes, including debt consolidation, home improvement projects, travel expenses, medical expenses, and major purchases. Eligible uses are subject to the terms of the loan agreement.

  • What factors affect approval?

    Lenders may review factors such as income, employment information, credit history, existing debt obligations, and overall ability to repay. Approval is not guaranteed.

  • How much can I borrow?

    Available loan amounts vary based on lender requirements and borrower qualifications. Refer to the loan amounts and terms disclosed on this page.

  • Can I apply from a mobile device?

    Many lenders offer applications that can be completed on smartphones, tablets, and computers.

  • What documents may be required?

    Documentation requirements vary by lender but may include identity verification, income verification, and other supporting information.

  • Are online loans secure?

    Consumers should work with reputable, properly licensed lenders that use appropriate safeguards to protect personal information, and should review each lender’s privacy and security disclosures.

  • What is APR?

    Annual Percentage Rate (APR) reflects the annual cost of borrowing and may include interest and certain fees. APR allows consumers to compare the cost of different loan offers.

  • Can I pay off my loan early?

    Borrowers should review their loan agreement for information regarding repayment requirements and any applicable early payoff provisions.

More information on how credit inquiries affect credit scores is available from the Consumer Financial Protection Bureau: What is a credit inquiry?

Sources

The information on this page is provided for general educational purposes only and is not financial, tax, or legal advice. It does not constitute an offer of credit. Loan approval is not guaranteed. Loan amounts, rates, fees, repayment terms, eligibility requirements, and funding timelines vary and depend on individual qualifications, applicable state law, and underwriting review. Individual results vary. Consumers should review all loan documents and compare available options before borrowing.

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Still not sure?

Read more to find out if an online loan is right for you

    Unlock the possibilities with an online loan through LendingPoint

    • Fast and easy loans from $1,000 to $36,500
    • Rates from 7.99% to 35.99% APR
    • Flexible terms from 24 to 72 months
    • Funding as soon as the next business day upon approval
    • No prepayment penalty
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    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; Coastal Community Bank, Member FDIC; and 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 up to 10% 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 $1,000 to $36,500, at rates ranging from 7.99% to 35.99% APR, with terms from 24 to 72 months. Higher loan amounts may be available through select partners. Minimum loan amounts apply in Georgia, $3,500; Colorado, $3,001; and Hawaii, $2,000. For a well-qualified customer, a requested loan of $10,000 serviced by LendingPoint over a period of 48 months that has an APR of 26.59% with an origination fee of 10% may have a payment of $340.52 per month (actual terms and interest rates depend on credit history, income, and other factors). The total amount due under the loan terms is $16,345.12, and the loan disbursement amount is $10,000. The total amount due represents the full amount you will pay over the life of the loan if all payments are made as scheduled. In this example, the amount financed is $10,000, and the finance charge is $6,345.12, which includes a 10% origination fee. Customers may have the option to deduct the origination fee from the loan proceeds. If this option is selected, the amount disbursed will be less than the amount requested. For example, for a $10,000 loan with a 10% origination fee ($1,000), the amount disbursed would be $9,000.

    * Applications submitted may be funded by one of several lenders including First Electronics Bank, a Utah-chartered bank, Member FDIC; Coastal Community Bank, Member FDIC; and LendingPoint, a licensed lender in certain states. Loan approval is not guaranteed. Minimum loan amounts apply in Georgia, $3,500; Colorado, $3,001; and Hawaii, $1,500. Upon final underwriting approval to fund a loan, said funds are often available the next non-holiday business day. Actual loan offers and loan amounts, terms and annual percentage rates (“APR”) may vary. Loans are offered from $500 to $10,000 (loan amount maximum based on MCC codes), at rates ranging from 7.99% to 35.99% APR, with terms from 24 to 48 months. For example, for a well-qualified customer, a $5,000 purchase will have a 90-day promotional period with no interest, a 3% fee, and $100 monthly payments. After the promotional period, a remaining balance will be a 24-month term loan, and $263.72 monthly payments with an overall APR of 26.54%.

    **Minimum initial transaction of $1,000 in Alabama, Idaho and Iowa.

    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 concerning Coastal Community Bank is the Federal Reserve Consumer Help Center, P.O. Box 1200, Minneapolis, MN 55480. The federal agency that administers compliance with this law for LendingPoint is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.

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