LendingPoint Personal Loan Details

LendingPoint is a FinTech company that specializes in personal loans for people with bad or low credit scores who are not approved for loans from traditional banks. In addition, the LendingPoint Personal Loan offers other advantages and benefits, which we will explain shortly.

What is the LendingPoint Personal Loan and how does it work?

If you have a low credit score and are looking for a loan with more affordable interest rates, LendingPoint Personal Loan can help. Developed especially for those who have already tried loans from traditional banks and had their request denied.

Keep in mind that LendingPoint Personal Loan doesn’t just use your credit score to check whether or not you’re eligible for the loan, it requires other requirements.

On the official LendingPoint website you will have access to an application form to carry out your pre-qualification. In this step, you will have your credit score deteriorated. With the information provided to the company, it will be able to improve its reputation, with data beyond your available score and offering the best personal loan terms available for your needs.

After this first step, you will be able to choose the best personal loan option offered to you, with the conditions and terms you are looking for, offering additional information and waiting for the final approval.

Once approved, just sign the contract on the next business day and you will have your funds deposited in your bank account.

More details about the LendingPoint Personal Loan

LendingPoint offers unsecured personal loans, allowing those people who do not have a good credit score to take out their loans.

For this, the company uses other important information and a programmed algorithm to evaluate your information and determine if you are a good borrower or not. Generally speaking, most people are approved to apply for their personal loans.

Amounts available for personal loan are from $2000 to $36500. The maximum amount available to borrow will depend on your financial reputation and your credit profile. To get the maximum loan amount, LendingPoint considers information such as debt/income ratio and payment/income ratio, allowing you to calculate your maximum loan limit.

When you get your personal loan, you can use it however you like, whether for legal expenses, weddings, medical emergencies, car or house repairs, vacation trips and many others.

Important requirements for applying on the LendingPoint

Knowing the requirements requested by LendingPoint is essential before filling out your prequalification form, so we are going to show you what they are. LendingPoint offers loans in 48 Brazilian states, not just in the states of Nevada and West Virginia.

Another requirement required by the company is a minimum age of 18 years and the availability to provide LendingPoint with a photo ID issued by the US local, state or federal government. In addition, you must provide your social security number and personal bank account details. The minimum income required to apply for your personal loan is an annual income of at least $35000.

After checking all these requirements, you can fill in the pre-qualification form and you will have access to all possible personal loans available. So, after reviewing the terms and conditions of each one, just choose the one that best meets your needs. After receiving your approval, the funds will be deposited into your bank account within a few days.

Main Benefits of the LendingPoint Personal Loan

Now that you know the requirements to apply for your personal loan and that LendingPoint is primarily aimed at people with a bad credit score, here are other benefits offered by the company:

• LendingPoint uses criteria other than your FICO score to determine your credibility.
• You can get loans with minimum and maximum amounts of $2,000 up to $36,000.
• It offers fixed loan rates so your interest rate will not increase.
• LendingPoint doesn’t check your credit, which means it won’t harm you when doing your check.
• You can determine the best date to make the payment and change it once a year if you feel necessary.