A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 8.05% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that we subsequently obtain as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan from us. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.
Great Experience
I am a professional audit/compliance professional. I am very savvy about finance. I was skeptical at first. I studied recently in grad school about crowdfunding and understood that Lending Club prepares your package after loan officers review your income and credit. Then they put it up for funding by individuals who want to earn a higher return.
This allows Lending Club to avoid a lot of the restrictions of banks on loans. At best you can get a personal loan of your signature at $5-7K. I was able to get a loan of $35K, less origination fees, netting the loan to $33,250.
This program is for real. I consolidated my high interest debts into a payment that will equal what I was paying each month and allow me to pay my debts off in three years, not eight as many credit indicate when paying the minimum payments.
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Great Experience
I would like to have gotten a better interest rate considering my income and outstanding credit. Overall, my experience was two thumbs up. I put in an online application , it was approved in 7 days and the money was in my account when they said it would be. I liked not having to sit in front of someone feeling like I was being judged... it was a great experience.
LendingTree Customer:
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Great Experience
I put in an online application , it was approved in 7 days and the money was in my account when they said it would be. I liked not having to sit in front of someone feeling like I was being judged... it was a great experience.
LendingTree Customer:
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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.
