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.
Took to long
Applied for the never heard anything on approval or denied knowing that you advertise next day or 2 day answer it was 3 week got a email saying money was on the way , well by then i applied for a different loan with someone else and got it so know I’m scrambling around to get the money back the you sent to my creditors. Not happy at all
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Not a good experience.
I applied for a loan of $2000 over the telephone with the assistance of one of your employees. She advised that I would receive information on the determination back within 24-48 hours. When that time had passed, I applied for and received a loan elsewhere. A week had passed by when I received an email saying the loan had been approved and was being deposited into my bank account. There should have been communication advising me that the loan was approved PRIOR to depositing it into my account. I called to cancel the loan and correct the situation, but was told the money was already being deposited into my bank account. I was told just to leave the money in my account and it would be cancelled and the money would be withdrawn. This was quite an undertaking that could have been avoided with a simple and timely communication telling me that the loan was approved. I have since received communication telling me that the money would be “paid back” by withdrawing it from my checking account on May 1st. Since there was never a loan to begin with, I do not understand how it would be, “paid back” in one payment.
While I appreciate your willingness to lend me the money, it sure has been a frustrating process that could be improved upon by Lending Club.
Thank you for requesting my review of your services.
Sincerely yours,
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They deposited $600 less
I was guaranteed an amount to get excluding the fee and then I got $600 less than what I was told I am getting….. so I basically have to pay back 1k that I didn’t even use or receive.
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