LendingPoint is an online lender that specializes in personal loans up to $36,500 for borrowers with fair credit. It offers rates starting at 7.99% with terms up to 60 months, and you could receive funding as soon as the next business day. And after six months, you may be eligible to refinance your loan at a lower rate.
However, its maximum loan amount is smaller than some competitors and you might find lower rates by shopping around. It also charges origination fees of up to 10%, and its $35,000 annual income requirement may be too high for some borrowers. If this lender doesn’t fit your needs, consider our list of companies like LendingPoint that may offer higher loan amounts, better rates or other advantages.
Our top 6 sites like LendingPoint
These online providers accept fair credit scores and may offer a wide range of loan amounts or lower rates and fees than LendingPoint.
Upstart has lower income requirements than LendingPoint, accepting borrowers who make only $12,000 a year. And it specializes in funding borrowers who are just building their credit, with scores as low as 300. Plus, it considers education and career during the underwriting process. Its rates start at 6.7%, which is slightly lower than LendingPoint. But its origination fees can run as high as 12%, and it only offers two loan terms.
Min. credit score
300
APR
6.70% to 35.99%
Loan amount
$1,000 to $50,000
Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia
Upstart has lower income requirements than LendingPoint, accepting borrowers who make only $12,000 a year. And it specializes in funding borrowers who are just building their credit, with scores as low as 300. Plus, it considers education and career during the underwriting process. Its rates start at 6.7%, which is slightly lower than LendingPoint. But its origination fees can run as high as 12%, and it only offers two loan terms.
Lightstream offers rates starting at 6.49% — lower than LendingPoint's lowest rate — and it maxes out at 25.29%, which is more than 10 points lower than LendingPoint's highest rate. It also offers larger loans, with amounts up to $100,000. Plus, it doesn't charge origination fees. But you'll need good to excellent credit, you can't prequalify to check your rate and its smallest loan amount is on the high side at $5,000.
Min. credit score
Good to excellent credit
APR
6.49% to 25.29%
Loan amount
$5,000 to $100,000
Not available in: Iowa, West Virginia
Lightstream offers rates starting at 6.49% — lower than LendingPoint's lowest rate — and it maxes out at 25.29%, which is more than 10 points lower than LendingPoint's highest rate. It also offers larger loans, with amounts up to $100,000. Plus, it doesn't charge origination fees. But you'll need good to excellent credit, you can't prequalify to check your rate and its smallest loan amount is on the high side at $5,000.
Pros
Rates start at 6.49%
No origination fees
Loans up to $100,000
Cons
Requires good to excellent credit
Doesn't offer prequalification
High minimum loan amount
Loan amount
$5,000 to $100,000
APR
6.49% to 25.29%
Interest Rate Type
Fixed
Min. credit score
Good to excellent credit
Turnaround Time
As soon as same day
Loan Term
24 to 240 months
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. At least 27% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 10/01/2024 to 12/31/2024. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
Payment example: Monthly payments for a $25,000 loan at 6.49% APR with a term of 3 years would result in 36 monthly payments of $766.11.
Maximum APR for a LightStream loan is 25.79%. Loan terms range from 24 - 240 months depending on the loan type.
This online lender has more payment flexibility than many lenders, allowing you to change your payment due date or even reduce your payment in times of hardship. It accepts borrowers with below-average credit, making it a good option for people with a negative mark on their credit report but otherwise healthy personal finances. But its rates start at 7.99%, which is higher than LendingPoint's lowest rate. And its origination fees run from 1.85% to 9.99%.https://www.finder.com/wp-admin/post.php?post=989640&action=edit#
Min. credit score
580
APR
7.99% to 35.99%
Loan amount
$1,000 to $50,000
Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia
This online lender has more payment flexibility than many lenders, allowing you to change your payment due date or even reduce your payment in times of hardship. It accepts borrowers with below-average credit, making it a good option for people with a negative mark on their credit report but otherwise healthy personal finances. But its rates start at 7.99%, which is higher than LendingPoint's lowest rate. And its origination fees run from 1.85% to 9.99%.https://www.finder.com/wp-admin/post.php?post=989640&action=edit#
Pros
Payment flexibility
Accepts fair credit scores
Offers multiple rate discounts
Cons
Charges origination fees
Lowest rates start at 7.99%
Loan amount
$1,000 to $50,000
APR
7.99% to 35.99%
Interest Rate Type
Fixed
Min. credit score
580
Turnaround Time
1 to 4 business days
Loan Term
2 to 7 years
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.
If you can't meet LendingPoint's requirements, OneMain could be a better option. This lender is one of the few personal loan providers that works with all credit types. It also offers the option to back your loan with collateral or add a cosigner to help you qualify for lower rates. But avoid OneMain if you can qualify with a fair credit lender. Its rates are high for a personal loan, ranging from 18% to 35.99%, including an origination fee of up to 10%.
Min. credit score
Not specified
APR
18% to 35.99%
Loan amount
$1,500 to $20,000
Not available in: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont
If you can't meet LendingPoint's requirements, OneMain could be a better option. This lender is one of the few personal loan providers that works with all credit types. It also offers the option to back your loan with collateral or add a cosigner to help you qualify for lower rates. But avoid OneMain if you can qualify with a fair credit lender. Its rates are high for a personal loan, ranging from 18% to 35.99%, including an origination fee of up to 10%.
Pros
Works with all credit types
Secured and unsecured loans
Accepts cosigners
Cons
High starting APR of 18%
Origination fee up to 10%
May require collateral
Loan amount
$1,500 to $20,000
APR
18% to 35.99%
Interest Rate Type
Fixed
Min. credit score
Not specified
Turnaround Time
As soon as one hour
Loan Term
24, 36, 48 or 60 months
* OneMain Disclosures:
Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
Rather than doing all the legwork yourself, consider a loan marketplace like LendingTree. With one simple application, LendingTree connects you with up to five loan offers to compare. And rates start as low as 5.99%, which is likely the best personal loan rate you can find. Plus, LendingTree is also a good source if you're looking for a business loan, mortgage or even car insurance. But you'll need good credit to qualify for the best rates, some lenders may charge origination fees and loan marketplaces can open you up to excessive solicitation efforts.
Min. credit score
Good to excellent credit
APR
Starting at 5.99%
Loan amount
$1,000 to $50,000
Available in all states
Rather than doing all the legwork yourself, consider a loan marketplace like LendingTree. With one simple application, LendingTree connects you with up to five loan offers to compare. And rates start as low as 5.99%, which is likely the best personal loan rate you can find. Plus, LendingTree is also a good source if you're looking for a business loan, mortgage or even car insurance. But you'll need good credit to qualify for the best rates, some lenders may charge origination fees and loan marketplaces can open you up to excessive solicitation efforts.
Pros
Compare multiple lenders with one application
Rates start at 5.99%
Fast funding
Cons
Rates as high as 35.99%
May charge origination fees
Could result in excessive solicitation
Loan amount
$1,000 to $50,000
APR
Starting at 5.99%
Interest Rate Type
Variable
Min. credit score
Good to excellent credit
Turnaround Time
If you apply during work hours on a business day, you can get access to approved funds within 24 hours.
LendingClub used to be a peer-to-peer lending platform, but now it's a bank offering loans with rates starting at 6.34% — much lower than LendingPoint. And it accepts borrowers with average or fair credit scores. LendingClub is a good choice if you're looking to consolidate debts. It offers better rates for debt paydown loans than cash loans and pays creditors on your behalf. It also accepts coapplicants if you can't qualify for a good rate on your own. But it charges origination fees of up to 8%, has shorter loan terms than LendingPoint and its maximum loan amount is lower than some of its competitors.
Min. credit score
600
APR
6.34% to 35.99%
Loan amount
$1,000 to $40,000
Available in all states
LendingClub used to be a peer-to-peer lending platform, but now it's a bank offering loans with rates starting at 6.34% — much lower than LendingPoint. And it accepts borrowers with average or fair credit scores. LendingClub is a good choice if you're looking to consolidate debts. It offers better rates for debt paydown loans than cash loans and pays creditors on your behalf. It also accepts coapplicants if you can't qualify for a good rate on your own. But it charges origination fees of up to 8%, has shorter loan terms than LendingPoint and its maximum loan amount is lower than some of its competitors.
LendingPoint is known for accepting fair credit scores and considering multiple factors when determining loan approval. It also offers rates starting at 7.99%v, which is more competitive than some lenders on this list. However, it has an origination fee of up to 10% and rates as high as 35.99%. Plus, it has a higher income requirement than some lenders, making it out of reach for some borrowers.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf. See full bio
A review of Pennie Financial, a company that appears to be a personal loans marketplace but likely shares your information with debt settlement partners.
Learn how you can verify your income and increase your chances of approval — even if you’ve only been working a few months.
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