All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage and history. The APR ranges from 10.68% to 35.89%. For example, you could receive a loan of $6,000 with an interest rate of 9.56% and a 5.00% origination fee of $300 for an APR of 13.11%. In this example, you will receive $5,700 and will make 36 monthly payments of $192.37. The total amount repayable will be $6,925.32. Your APR will be determined based on your credit at time of application. The origination fee ranges from 2% to 6% (average is 4.86% as of 7/1/2019 – 9/30/2019). In Georgia, the minimum loan amount is $3,025. In Massachusetts, the minimum loan amount is $6,001 if your APR is greater than 12%. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the Lendingclub website. All loans via LendingClub have a minimum repayment term of 36 months or longer. Loans require sufficient investor commitment before they can be funded or issued.
This is my second loan
Both transactions with your company has been a pleasant experience and I appreciate dearly what you have done for me!!!!
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Amazing
The experience with lending club so far as been great. From start to finish. Got approved In a few days and money was in my account in 2 days. Thanks lending club I can now begin to take my credit to another level !!!
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Unresolved Issue
In July I requested to skip a payment as I had been temporarily furloughed due to COVID. The young man suggested that I make interest only payments for July and August, which did. He indicated that my credit would not be adversely affected. Well, the Lending Club reported my payment late for both months, resulting in a 75 point drop in my credit!!!! I literally did not have 1 late payment on my credit prior to this happening. I have spoken with 4 people and no one has resolved it yet. What’s most troubling is that I was about to refinance to a lower mortgage rate, which I can’t do now.
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The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.
