SuperMoney

LendingClub

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in Personal Loans

SuperMoney Net Recommendation Score +27% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Mostly recommended

7 users recommend
0 users are unsure
4 users don't recommend
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Overview

Where does LendingClub do business?

LendingClub is a marketplace lender based in San Francisco, CA. Founded in 2007, LendingClub offers access to personal loans in 30 states across the USA.

What are the APRs offered via LendingClub?

LendingClub has a fixed APR that ranges from 3.49% up to 24.99%.

Does LendingClub charge an origination fee?

No, LendingClub does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees. 

Does LendingClub charge a late fee?

Yes, LendingClub may charge borrowers a late payment fee of up to $15

Does LendingClub charge prepayment fees?

No, LendingClub does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow via LendingClub?

Loan amounts start at $5,000 and go up to $55,000.

What do you need to qualify for a loan with LendingClub?

Applicants with a credit score of at least 510 can apply for a loan via LendingClub . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

LendingClub will also consider borrowers who are unemployed

Active duty servicemembers and their covered dependents are eligible to apply for a loan via LendingClub. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Proof of Insurance
  • References
  • Proof of residence
  • Applicants must have an active and valid checking account
  • Proof of citizenship or residence permit
  • Proof of income

What is the estimated funding time for a personal loan via LendingClub?

LendingClub will typically provide a credit approval decision in less than an hour and fund the loan within 14 days.

Does LendingClub report loan payments to credit bureaus?

LendingClub may report credit data to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

LENDINGCLUB Disclosure: All loans made by WebBank, Member FDIC. APR is the Annual Percentage Rate. Your actual rate depends upon your individual credit score and other key financing characteristics, including but not limited to the amount financed, term, a loan-to-value (LTV) ratio and other vehicle characteristics. Available APRs range from 3.49% to 24.99%. Best APRs are available to borrowers with excellent credit. Advertised rates are subject to change without notice. Vehicle restrictions: Auto refinancing through Lending Club is only available for vehicles that are 10 years old or less and have 120,000 miles or less. Refinancing is not available for Hummer, Pontiac, Saturn, Daewoo, Isuzu, Suzuki or Oldsmobile vehicles. Refinancing is not available for diesel Volkswagen vehicles, Dodge Neons, or any commercial vehicles. Existing loan restrictions: Auto refinancing is available for existing auto loans that have been open for at least 1 month, have 24 months or more remaining on the term and have $5,000 to $55,000 in outstanding balance. Fees: Title and state fees may apply. Additional vehicle and existing loan restrictions may apply, depending on credit quality.
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  • 71 Stevenson St
    Suite 300
    San Francisco, CA 94105 USA
  • Visit Site

Message from LendingClub

Since 2007, we've been bringing borrowers and investors together, transforming the way people access credit. Over the last 10 years, we've helped millions of people take control of their debt, grow their small businesses, and invest for the future. LendingClub is America's #1 credit marketplace, transforming banking to make it more efficient, transparent and customer friendly. Since 2007, Americans have borrowed over $31 billion dollars. Plus, LendingClub has tens of thousands of 5 star reviews and an A+ rating from the Better Business Bureau. Through LendingClub, you can qualify for multiple auto refinance offers. Lower your monthly payments, save on the total interest you pay or both! Fast and easy application process with no prepayment penalties. Plus checking your rate has no impact on your credit score.

Other Services by LendingClub

Availability

Available in 30 states
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Florida
  • Georgia
  • Idaho
  • Indiana
  • Kansas
  • Maryland
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin

Feature Breakdown

No Prepayment Fee
No Origination Fee
Late Fee Amount
$15
Minimum Age
18
Credit Score Range
510 -
850 300 510
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Co-borrower
  • Only Individual Applications
Bank Account Required?
Verification Documents Required
  • Proof of Income
  • Proof of Insurance
  • Proof of Residence
  • References
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount
$5K - $55K
$100 $100K+
APR
3.49% - 24.99%
4% 100%+
APR Type
Fixed APR

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