LendingClub

Lender Summary

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.

What they're saying

Ratings & Reviews
6153 Reviews
  • Interest Rates
    Excellent
  • Fees & Closing Costs
    Good
  • Responsiveness
    Excellent
  • Customer Service
    Excellent

Review Breakdown

Easiest loan ever

The team made it painless and informed me of every step. Great communication throughout the whole process.

  • Closed with Lender:

    Yes
  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review

good experience in getting a loan

The loan process is relatively easy, after selecting a loan option. It still takes a few days to complete the process once verification documents are submitted and lender will have the loan ready. They do charge a fee for each loan option presented varying with loan terms and amounts, but it is up to you to select one for your need. They also setup auto payment once the loan is available. The bad part is the loan rate is relatively high about 10%, but for a small loan it is tolerable.

  • Closed with Lender:

    Yes
  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review

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,

  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review
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LendingClub

Customer Satisfaction rating is based directly on customer ratings and reviews. Customers rate lenders on their customer service, interest rates, fees and closing cost and overall experience.

LendingTree Certification:

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.

LendingTree Certification:

  • Certified Lender
    Certified Lenders have demonstrated their organizational commitment to employee development, at least 50% of their loan professionals have been certified while also providing exemplary service to LendingTree consumers.

Loan Officer Certifications:

  • Gold Leaf
    Gold Leaf is the cornerstone of the loan officer certification program and is designed to recognize loan officers committed to their own professional development while adhering to LendingTree best practices. Gold Leaf recipients know the fundamentals of LendingTree and online lending, they are equipped with the necessary skills to be best-in-class loan professionals.
  • Certified President's Club
    President’s Club is presented to an elite group of loan officers based on success levels in several areas including adherence to LendingTree best practices, commitment to professional development and dedication to customer excellence. Recipients have also met all Gold Leaf criteria.

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