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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 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
- 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:
71 Stevenson St
San Francisco, CA 94105 USA
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Other Services by LendingClub
- New Hampshire
- New Mexico
- New York
- North Carolina
- Rhode Island
- South Carolina
- South Dakota
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- Active Duty Military
- Military Dependent
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Only Individual Applications
- Proof of Income
- Proof of Insurance
- Proof of Residence
- Driver License (or other photo ID)
- Proof of citizenship/residence (Green Card)