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LendingPoint review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

A direct US lender for borrowers consolidating debt or funding a home project. LendingPoint lends $1,000 to $36,500 at a fixed rate, funds by ACH as soon as the next business day after approval, and takes an arrangement fee of up to 10% of the amount borrowed.

Key facts

Best for
US borrowers consolidating balances or covering home improvement work on a fixed lump sum.
APR
7.99% to 35.99%↗
Loan amount
$1,000 to $36,500↗
Term
24 to 72 months↗
Arrangement fee
Up to 10% of the loan amount, disclosed upfront; no application fee↗
Credit check
Soft prequal↗
Funding time
Funds as soon as the next business day via ACH after final underwriting approval↗
Representative example
Well-qualified customer, $10,000 loan over 48 months at 26.59% APR with 10% origination fee: $340.52 per month, total due $16,345.12↗
Rate type
Fixed↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Eligibility
18 or older, U.S. federal/state/local government-issued photo ID, social security number, minimum annual income $35,000, verifiable personal U.S. banking account, and not a resident of Nevada or West Virginia↗
Origination fee (%)
up to 10%↗
Loan types
Personal, Debt-consolidation↗
Use cases
Home-improvement↗
Legal entity
LendingPoint LLC↗
Headquarters
United States↗
Founded
2015↗
Support channels
Email, Phone, Help-centre↗
Pricing model
Fixed rate
Official website
lendingpoint.com

Facts checked September 26, 2026, 4 sources

Apps and profiles

Get the app
Google Play
Elsewhere
WikidataWikipediaLinkedInXTrustpilotfacebook.com

Pros and cons

Pros

  • Early repayment is free, so clearing a loan ahead of schedule costs nothing extra.
  • Prequalification uses a soft prequal, so testing an offer carries no hard search.
  • Every loan is fixed rate over a term of 24 to 72, so payments stay level.
  • Money can arrive by ACH as soon as the next business day once underwriting is final.

Cons

  • An arrangement fee of up to 10% of the amount borrowed is taken up front, so a small loan gives up a larger share.
  • APR runs 7.99% to 35.99%, so a weak credit profile pays a rate near the top of that range.
  • No live chat appears among email, phone and help centre, so urgent questions go through phone or email.

Ready to try LendingPoint?

Scored 9.1 / 10 by SumCue.

See alternatives

Who it suits

  • Borrowers consolidating existing balances into a single fixed monthly payment.
  • Adults with a verifiable US bank account and government photo ID, applying in a licensed state.
  • People planning home improvement work who want one fixed lump sum over a longer term.

Who should look elsewhere

  • Residents of Nevada or West Virginia, who are not eligible.
  • Borrowers wanting terms shorter than 24 to 72, since the quickest repayment window is not offered.
  • Readers in the Philippines or Spain, where Cashspace and Creduma ES sit, since LendingPoint lends only in the US.

Safety of your money

LendingPoint is a direct lender, so the money comes from the firm you apply to rather than a middleman. Licensing runs state by state: a California finance lender licence (60DBO-46348) and a Texas regulated lender company licence (154325), with further licences in Maryland, Colorado, New York City, Ohio and Washington. The published representative example shows a monthly payment and the total repaid for a well-qualified borrower.

Who runs it

The lender is LendingPoint LLC, based in the United States and founded in 2015. Support runs through email, phone and help centre, giving contact by email and phone as well as a help centre. The same state licences apply, including a Washington consumer loan company licence (CL-1424139), a Colorado supervised lender licence (SUP-4000226) and a debt collection agency licence in New York City (2089189-DCA).

How LendingPoint compares

Where LendingPoint is available

Licence in United States
Maryland Department of Labor, Licensing & Regulation - Installment Loan License (1424139), checked September 26, 2026
Licence in United States
California Department of Financial Protection & Innovation (DFPI) - Finance Lender License (60DBO-46348), checked September 26, 2026
Licence in United States
Colorado Department of Law Consumer Credit Unit - Supervised Lender License (SUP-4000226), checked September 26, 2026
Licence in United States
NYC Consumer Affairs & Worker Protection (DCWP) - Debt Collection Agency License (2089189-DCA), checked September 26, 2026
Licence in United States
Ohio Division of Financial Institutions/Consumer Finance - Small Loan License (SL.400348.000), checked September 26, 2026
Licence in United States
Texas Office of Consumer Credit Commissioner - Regulated Lender Company License (154325), checked September 26, 2026
Licence in United States
Washington State Department of Financial Institutions, Division of Consumer Services - Consumer Loan Company License (CL-1424139), checked September 26, 2026

Frequently asked questions

What does a LendingPoint loan cost?+

The APR runs 7.99% to 35.99% and the amount borrowed is $1,000 to $36,500 over a term of 24 to 72. An arrangement fee of up to 10% of the amount borrowed is disclosed before you sign, and there is no application fee. Work the fee into the monthly payment instead of reading the rate alone.

Is LendingPoint regulated?+

It is a US lender regulated through state licences rather than a single federal one. Licence numbers include a California finance lender licence (60DBO-46348) and a Texas regulated lender company licence (154325), alongside permits in Maryland, Colorado, New York City, Ohio and Washington.

How quickly do funds arrive?+

Money is sent by ACH as soon as the next business day, and only after final underwriting approval. Checking an offer first uses a soft prequal, so the search carries no hard credit check. Timing therefore rests on the approval decision, not on the application itself.

Who can borrow from LendingPoint?+

Applicants must be adults with a US government-issued photo ID, a social security number, a verifiable personal US bank account and an annual income meeting the stated minimum. Residents of Nevada and West Virginia are not eligible. The lender is LendingPoint LLC, based in the United States and trading since 2015.

Can a loan be repaid early?+

Early repayment is free, so paying a loan off ahead of schedule carries no extra charge. Rates are fixed, so the amount needed to clear the balance is set from the start rather than moving with market rates.

What is a LendingPoint loan used for?+

Loans cover personal needs and debt consolidation, and home improvement is the stated example, usually a project such as a renovation. The arrangement fee of up to 10% of the amount borrowed applies to both personal and debt consolidation loans, so check the total repayable before applying.

How do I reach LendingPoint?+

Support runs through email, phone and help centre, meaning email and phone lines alongside a help centre. No live chat appears among email, phone and help centre, so phone or email is the route for anything time sensitive about a payment or a payout.

How do these rates compare with Sofkredit?+

The 7.99% to 35.99% range here sits above Sofkredit's 10.74% to 18.06% and Cashspace's PHP 12 to PHP 36, though both serve other markets. Borrowing $1,000 to $36,500 at 7.99% to 35.99% is the fuller picture, since the arrangement fee of up to 10% of the amount borrowed adds to what you repay.

Sources

  • lendingpoint.com checked September 26, 2026

    Backs: Loan amount, APR, Credit check, Eligibility, Funding time, Lender type, Loan types, Origination fee (%), Representative example

    “Personal Loans From $1,000 - $36,500”

  • lendingpoint.com/personal-loans/online-loans checked September 26, 2026

    Backs: Free early repayment, Pricing model, Rate type, Term, Use cases

    “No pre-payment penalty”

  • lendingpoint.com/terms-of-use checked September 26, 2026

    Backs: Headquarters, Legal entity, Support channels

    “LendingPoint LLC, a Delaware limited liability company with its principal place of business in Kennesaw, Georgia”

  • lendingpoint.com/trusted-and-transparent-personal-loans checked September 26, 2026

    Backs: Founded, Arrangement fee

    “Since 2015, we've helped consumers access personal loans from $1,000 to $36,500”

  • nmlsconsumeraccess.org checked September 26, 2026

    Backs: Licences

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

LendingPoint

US borrowers consolidating balances or covering home improvement work on a fixed lump sum.

9.1/10See alternatives