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.
Average lender
Although I ended getting the best rate and amount approved compares to other lenders, the length in process from approval to reviewing my application to investors backing my loan took almost 3 weeks. Every time I called them and asked for an update, they couldn't tell me exactly when I should have the funds cleared and transferred into my back account. So I looked at their FAQ on their website and it stated loans are "usually" approved and deposited into your bank account in an average of 7 days. Well mine took again almost 3 weeks and that was very frustrating.
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Definitely use again!
I was amazed to how simple and easy this process was. The money was direct deposited in my account 2 days after it was approved.
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You Can't Go Wrong with LendingClub
I can't believe how easy the process is. I applied for a loan of $20,000 to pay off all of my credit card debt. Provided my financial documentation and in one week I had the money in my bank and was able to pay off all of my debt in the same day that I received money. I think the LendingClub is the absolute best and I'm so grateful. I've already referred a friend.
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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.
