Grace Enfield, Content Writer
@grace_enfield
No, LendingPoint is not the same as LendingClub. LendingPoint is a direct lender that only offers personal loans and business financing, whereas LendingClub is a lending platform that offers personal loans, business loans, auto refinancing and medical financing. Additionally, LendingPoint’s headquarters is located near Atlanta, while LendingClub is based in San Francisco.
For your convenience, below is a comparison of both lenders’ personal loan terms.
LendingPoint vs. LendingClub Personal Loans
| Category | ||
| Loan Amounts | $1,000 - $36,500 | $1,000 - $50,000 |
| APRs | 7.99% - 35.99% | 7.04% - 35.99% |
| Repayment Periods | 24 - 72 months | 24 - 72 months |
| Origination Fee | 0% - 10% (varies by state) | 0% - 8% |
| Minimum Credit Score | 620 | 600 - 640* |
| Funding Timeline | As soon as the next business day | 24 hours after being approved |
| Income Requirement | $35,000 | Not disclosed |
| Joint Applications | No joint loans | Joint loans allowed |
| Citizenship Requirement | U.S. citizen or permanent resident | U.S. citizen, permanent resident or long-term visa holder living in the U.S. |
| WalletHub’s Editor’s Rating |
*According to multiple third-party sources.
To learn more, check out WalletHub’s reviews of LendingPoint and LendingClub personal loans. You can also check to see if you pre-qualify for their loans with our free pre-qualification tool.
People also ask
Is LendingClub legit?
LendingClub is a legitimate online lender because it is accredited by the Better Business Bureau, which gives it a rating of A+. Plus, LendingClub has a 4/5 rating from WalletHub's editors because its personal loans can be a good option for people with bad-to-fair credit.
Why LendingClub Personal Loans Are Legit
- LendingClub is registered as a business in the states it services.
- LendingClub has a Better Business Bureau rating of A+....
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