LendingClub Corporation Personal Loans

Information verified correct on June 5th, 2017

The Leader in Peer to Peer Lending: Loans and Investing | Lending Club

Lending Club is America's #1 credit marketplace. Apply for a low, fixed rate personal loan or invest to earn solid returns.

Lending Club is the world’s largest online marketplace connecting borrowers and investors. We’re transforming the banking system to make credit more affordable and investing more rewarding. We operate at a lower cost than traditional bank lending programs and pass the savings on to borrowers in the form of lower rates and to investors in the form of solid returns.

LendingClub’s products

Personal Loans: Borrowers who used a personal loan via Lending Club to consolidate debt or pay off high interest credit cards report in a survey that the interest rate on their loan was an average of 24% lower than they were paying on their outstanding debt or credit cards.

Auto Refinancing: Rates from 2.24% to 19.99% APR for existing auto loans

Business Loans: Get all your capital up front, 1-5 year terms. Fixed monthly payments, no prepayment penalties. Great for a large one-time expense.

Patient Solutions: Patients need a simple and affordable way to pay for the care you prescribe. Lending Club Patient Solutions provides it. Our rates are low, our approvals are high. Decisions happen faster than ever before. And patients have the funding flexibility they need.

Product NameLendingClub Corporation Personal Loans
Min Loan Amount$1000
Max. Loan Amount$40000
Loan Term1095 - 1825 days
Turnaround Time business day(s)
Bad Credit LoansNo
Direct LenderNo
ProductsAuto Loans, Debt Consolidation, Personal Loans
RatesYour actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 5.99% to 35.89%. Your APR will be determined based on your credit at time of application. The origination fee ranges from 1% to 6% . There is no down payment and there is never a prepayment penalty. All loans made by WebBank, Member FDIC.
Contacts 71 Stevenson Street, Suite 300 San Francisco, CA 94105, USA
[email protected]
Social Accounts http://www.facebook.com/pages/Lending-Club/8705550790 http://twitter.com/lendingclub http://blog.lendingclub.com/ https://www.linkedin.com/company/lending-club https://www.youtube.com/user/lendingclubteam

Is LendingClub Corporation Available In Your State?

LendingClub Corporation is available in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, DC, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming.

How to Apply for a Loan from LendingClub Corporation

Personal Loan:
  • A United States citizen or permanent resident, or living in the U.S. on a valid, long-term visa
  • At least 18 years old
  • The holder of a verifiable bank account
At this time, we can’t accept loan applications from residents of Iowa, West Virginia, Guam or Puerto Rico. Auto Loan Refinance:
  • United States citizens or permanent residents, or living in the U.S. on a valid, long-term visa
  • At least 18 years old
  • At this time, we accept loan applications from residents of the following states:
    Alabama Michigan Pennsylvania
    Arizona Missouri Rhode Island
    Arkansas Montana South Carolina
    California Nebraska South Dakota
    Georgia New Jersey Tennessee
    Idaho New Mexico Texas
    Indiana New York Utah
    Kansas North Carolina Washington
    Maryland Ohio
  • Your car has to be less than 11 years old (2007 or more recent) and have fewer than 120k miles
  • Your current loan must be more than 3 months old and have at least 24 months remaining
  • On-time payments on your current car loan
  • Your outstanding balance on your current car loan must be between $5,000 and $50,000
  • Your car must be registered in the state where you live. Your registration should be current and not due to expire in 30 days or less from the date when you applied.
Patient Solutions:
  • You’ll need to be over 18 years of age, a U.S. citizen or resident alien, and currently reside in the U.S
  • You must have a U.S. Social Security Number, a street, rural route or APO/FPO mailing address, and have a valid government issued photo ID.
Business Loans:
  • Two years or more in business
  • At least $75,000 in annual sales
  • No recent bankruptcies or tax liens
  • Own at least 20% of your business
  • At least fair or better personal credit

LendingClub Corporation Business Ratings

BBB Accreditation

A BBB Accredited Business since 01/01/2008
BBB has determined that LendingClub Corporation meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

LendingClub Corporation has received 4.19 out of 5 stars based on 58 Customer Reviews and a BBB Rating of A+.

BBB File Opened: 04/15/2010
Business Started: 10/02/2006
Business Started Locally: 10/02/2006
Business Incorporated: 10/02/2006 in DE
Type of Entity: Corporation
Business Management: Mr. Jason Altieri, Lawyer, Mr. Jerry Chou, Manager, Mr. Russell Elmer, Lawyer, Mr. Mitchell Harad, Vice President of Marketing, Mr. Andrew Jensen, Manager, Mr. Colin Ray, Member Support Lead, Customer Service, Manager
Business Category: Financial Services, Loans
Service Area: Nationwide

LendingClub Corporation Company Information

Lending Club is a US peer-to-peer lending company, headquartered in San Francisco, California. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. Lending Club operates an online lending platform that enables borrowers to obtain a loan, and investors to purchase notes backed by payments made on loans. Lending Club is the world's largest peer-to-peer lending platform. The company claims that $15.98 billion in loans had been originated through its platform up to 31 December 2015.

Lending Club enables borrowers to create unsecured personal loans between $1,000 and $40,000. The standard loan period is three years. Investors can search and browse the loan listings on Lending Club website and select loans that they want to invest in based on the information supplied about the borrower, amount of loan, loan grade, and loan purpose. Investors make money from interest. Lending Club makes money by charging borrowers an origination fee and investors a service fee.

Lending Club also makes traditional direct to consumer loans, including automobile refinance transactions, through WebBank, an FDIC-insured, state-chartered industrial bank that is heaquarted in Salt Lake City Utah. The loans are not funded by investors but are assigned to other financial institutions.

The company raised $1 billion in what became the largest technology IPO of 2014 in the United States. Though viewed as a pioneer in the fintech industry and one of the largest such firms, Lending Club experienced problems in early 2016, with difficulties in attracting investors, a scandal over some of the firm's loans and concerns by the board over CEO Renaud Laplanche's disclosures leading to a large drop in its share price and Laplanche's resignation.

LendingClub Corporation Offices

Patient Solutions: 1700 West Park Drive, Suite 310, Westborough, MA 01581
Personal Loans: 71 Stevenson Street, Suite 300 San Francisco, CA 94105
K-12 Education: 1700 West Park Drive, Suite 310, Westborough, MA 01581

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