in Personal Loans from LendingClub
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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 49 states (and Washington, DC).
What rates and terms does LendingClub offer?
What personal loan APRs does LendingClub offer?LendingClub offers a fixed APR personal loan product that ranges from 6.95% APR up to 35.89% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via LendingClub?
Loan amounts start at $1,000 and go up to $40,000.
What can a personal loan from LendingClub be used for?
Personal loans from LendingClub are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.
What is the maximum loan term you can get with LendingClub?
LendingClub offers personal loans with terms ranging from 36 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
|Loan Amount||$1000 - $40000|
|Loan Term||36 - 60 months|
|APR||6.95% - 35.89%|
What fees does LendingClub charge?
Does LendingClub charge an origination fee?
LendingClub charges a loan origination fee of 1% to 6% of the loan amount. LendingClub deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does LendingClub charge a late fee?
Yes, LendingClub may charge borrowers a late payment fee of up to $15, which is triggered if you're 15 days late.
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.
|Origination Fee||1% - 6%|
|Late Payment Fee||$15|
What do you need to qualify for a loan with LendingClub?
Applicants with a credit score of at least 600 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 consider borrowers regardless of their employment status if they can prove their ability to repay the loan requested.
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 citizenship or residence permit
- Recent pay stubs
- Proof of income
|Bank Account Required?||No|
|Joint Applications Accepted?||Yes|
|Credit Score||600 - 850|
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 3 days.
Does LendingClub report loan payments to credit bureaus?
LendingClub may report credit data to the following credit reporting agencies:
595 Market St
San Francisco, CA 94105 USA
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Message from LendingClub
Other Services by LendingClub
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Prepayment Fee|
|Late Fee After (number of days)||15|
|Late Fee Amount||$15|
|Origination Fee||1% - 6%|
|Credit Score Range||
600 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$1K - $40K|
|Loan Term (Months)||36 - 60|
|APR (Fixed APR)||6.95% - 35.89%|