4.7 of 5starsRead Reviews
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 and Fast Thanks
Can't say anymore was fast and Simple. Should give Them a Chance who knows when I'm do with this loan. Might get a new one.
Closed with Lender:
Lending Club was very easy to do business with, this was my 3rd loan with them
They make the process fairly simple and streamlined. I wish the rates were better than what they are, but LC was right in line with the other lenders willing to offer a loan.
The entire process took only a couple of days.
Excellent company in my opinion!
Closed with Lender:
Having applied and told was approved for loan this LendingClub proceeded to ask me for documentation which was fine they needed to verify my income, address and identity. But that's where it went downhill quickly. They repeatedly returned with a canned text message stating they need a document that contains something that was already on the document I provided.
You cannot reply to text messages they don't call you. They send you a very vague message claiming your document does not contain something they need, even if it does contain it. It is as if they don't look at the documents you send they don't read them even though they requested them.
They do not call you, email or communicate you have to "upload files" that is your only option for communication with the loan officer. After the 4th attempt to appease the loan officer with documentation I have given up trying to work with them. I uploaded documents requesting they call me to explain better what is missing but all i get back is another canned message saying its missing information.
They have an excessively impersonal method of communicating problems and requesting documents. If that is how they treat "approved" applications then how will they treat me once they pay out on the loan?