How do LendingPoint personal loans work, and what do they cost?

LendingPoint markets itself to consumers across a wide credit range — the company describes itself as serving borrowers up to a FICO score of 850, positioning it as a near-prime option rather than a lender exclusively for excellent-credit applicants. Loan amounts run from $1,000 to $36,500, though the practical minimum varies by state (for example, $3,500 in Georgia, $3,001 in Colorado, and $2,000 in Hawaii), reflecting state-level small-loan regulation rather than a LendingPoint-specific policy.

APR range and the origination fee

LendingPoint's posted APR range runs roughly 7.99% to 35.99%, with terms from 24 to 72 months. As with any personal-loan lender's advertised range, the top end reflects the full spread the lender underwrites for, not a typical borrower's expected rate — where an individual applicant lands depends on credit history, income, and existing debt. LendingPoint also charges an origination fee of up to 10%, which — per the CFPB's general personal-loan guidance — is a common structure (most lenders charge 1% to 8%) that reduces the actual amount disbursed below the amount owed; a $10,000 loan at a 10% origination fee nets roughly $9,000 in proceeds while the borrower still repays the full $10,000 principal plus interest. Comparing the full APR, which by law must include most fees, is the more reliable comparison point than the headline interest rate alone.

Funding speed

LendingPoint states that funds could be deposited as soon as the next business day following final approval — in line with most online personal-loan lenders that fund electronically via ACH rather than requiring an in-branch visit.