LendingClub Reviews
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About LendingClub
LendingClub offers a wide variety of loan products, including personal loans, auto refinancing and small business loans. Its online marketplace connects borrowers with a network of lenders to help them select the best loan. The process is simple and fast, and funds can be available in as little as 24 hours.
- Quick and easy online application
- Funds available in as little as 24 hours
- No prepayment penalties
- Fixed interest rates
- Somewhat high minimum APR
Featured Reviews
What is LendingClub?
LendingClub is an online marketplace that connects you with lenders. Its application process for personal or small business loans is quick and easy.
- Apply online by providing the amount you want to borrow and the purpose of the loan.
- Select a loan offer.
- Your money is deposited directly into your bank account within two days on average.
LendingClub offers multiple borrowing options, including personal loans, small business loans, auto refinancing loans and medical loans. The company offers fixed interest rates and a single monthly payment. There’s also no penalty for paying off your loan early. LendingClub also has a mobile app that lets you access your full marketplace membership in one place, including personal loans, banking products and more.
LendingClub loans
LendingClub has multiple types of loans available with different maximum loan amounts and terms. The right loan for you may vary based on how you intend to use the funds.
LendingClub personal loans
You can take out a personal loan of up to $50,000 for almost any significant expense, including:
- Paying off credit card debt
- Transferring a balance
- Consolidating debt
- Improving a home
Personal loan terms are 24 to 72 months, and all transactions take place through your LendingClub account. Once approved, your loan is deposited directly into your bank account in as little as 24 hours.
LendingClub business loans
With a small business loan from LendingClub, U.S.-based borrowers who have been in business for at least a year with $50,000 or more in annual sales can get up to $250,000 with a one- to five-year loan term. Small business loans have fixed monthly payments and no prepayment penalties.
LendingClub auto refinancing
The auto refinancing options are excellent for borrowers who want to lower their monthly car payments. To qualify, you need to owe between $4,000–$55,000 on your existing loan, with at least 24 months of payments remaining. Once you choose a refinancing offer, LendingClub pays off your previous lender. All payments go through a LendingClub account.
LendingClub Patient Solutions
LendingClub offers medical financing to help patients receive the care they need that may not be covered by insurance. LendingClub Patient Solutions include installment loans from $500 to $65,000. Loan terms range from six months to seven years, with fixed rates ranging from 3.99% to 30.99%, and 0% financing is also available. LendingClub also offers revolving lines of credit for medical purposes.
LendingClub personal loan terms
Loan terms vary among lenders, and it's important to note the differences to find the best loan for you. We've highlighted some of the most important information about LendingClub's personal loans.
LendingClub personal loan terms at a glance
| Loan amounts | Up to $50,000 |
|---|---|
| Term lengths | 24 to 72 months |
| APR range | 6.34% to 35.89% |
| Origination fee | 1% to 8% |
| Prepayment fee | None |
| Minimum credit score | Varies with loan |
LendingClub rates
LendingClub charges an annual percentage rate (APR) between 6.34% to 35.89% on personal loans. Costs and fees for borrowing with LendingClub include an interest fee, and the company charges a one-time origination fee that's 1% to 8% of the entire amount you're borrowing.
LendingClub FAQ
How does LendingClub affect your credit?
Checking the rate you qualify for from LendingClub will not impact your credit score.
If you choose to move forward with the loan, LendingClub does a hard credit check to evaluate your creditworthiness, which may cause your credit score to drop temporarily.
How long does it take to get a loan from LendingClub?
You can get approved for a loan from LendingClub within a few hours and receive funds in as little as 24 hours.
Does LendingClub verify income?
LendingClub verifies the incomes of most loan applicants. When applicants apply for loans, they go through a screening process that considers hundreds of data points that help identify which applications need further verification. Applicants may have to submit documents like W-2 forms, tax records or pay stubs for income verification purposes.
What is the minimum credit score for LendingClub?
LendingClub doesn’t directly state the minimum credit score it requires. A low credit score may not automatically disqualify you from getting a personal loan, but generally borrowers with lower credit scores pay higher interest rates.
» MORE: What is a good credit score?
Can you pay off a LendingClub loan early?
LendingClub does not charge any penalties for paying off your loan early.
Is LendingClub legit?
LendingClub is a legitimate lending marketplace that is FDIC-insured and has been around since 2007. It says it has served over 5 million people. LendingClub offers a variety of loan options to help borrowers meet their financial needs.
LendingClub Reviews
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Reviewed Jan. 5, 2026
I have been using Lending Club Bank for several years for the high interest savings account. I have had no complaints about the ease of use of the online banking. It has been easy to make deposits and transfer as needed. However I now have 2 CDs. But they have limitations on when you can decide what to do with the money at maturity.
Other CDs I have allow you to make a decision online when the account is set up and change within 1-2 days of maturity. Not Lending Club! You can make that decision on day of maturity or within 10 days after. I will be traveling out of the county during that time and do not want to be making those online decisions online or by phone in possibly unsecured settings. I don't want to have to travel with passwords/phone numbers/account numbers/etc when traveling overseas. And all I want to do is transfer the funds from the CD to my HYSA. The person I spoke to said there were no other options. I will be taking out no more CDs at Lending Club no matter how good the rate.
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Reviewed Dec. 8, 2025
Very disappointed with the service I've received. The high interest savings account rate is great but my money was held ransom due to poor customer service along with app problems. I was unable to access my account even though I put in accurate user name and password. I had to call customer service several times to change my password (to my original password?) and they wouldn't let me change my phone number over the phone so I had to submit a photo of my Driver's License. I did that twice without any luck. I started this process on a Friday and by end of day it was not taken care of. Business offices closed down over the weekend so I had to wait until Monday to proceed further. Again, I could not access my account because verification process used former phone number, which is no longer active.
Even though I'm on the line with them and provided more detailed ID verification than what an extinct phone number could provide, they wouldn't let me change my number on the phone. I needed to access my account to change my number but I can't access my account because verification phone number is no longer active. A ridiculous catch 22. They confirmed receipt of my ID submission but had to investigate further. Give me a break! All I wanted to do was check my balance but since I was having so much trouble with them I decided to close out my account. This was an even more complicated issue with unacceptable protocols. I'll spare the details but suffice it to say, I'm still waiting on an email from them so I can proceed further.
Reviewed Dec. 5, 2025
LendingClub is fine if you have money to pay them. But they took my Promissory Note(s) as collateral and never returned them or were honest about the fact that banks don't loan money, they borrow. So in fact, I loaned myself money, LendingClub got paid a huge fee for the transaction, and when I failed to make all the payments, LendingClub sold my data to three companies that are suing me for debt. Proceed with caution.
Reviewed Nov. 19, 2025
I got 18 months free interest on my loan. I set up monthly payments directly out of my checking account, I assumed the last payment would also be automatically deducted. But that was not the case. I found out that The Very Last payment was due in the same month as my previous payment. If I didn't notice this, my last payment would be late, I would have had to paid interest on it. This is a misleading trick. Good thing I caught it.
Reviewed Nov. 6, 2025
I received loan approval for $4,000.00 and advised to make a $120.00 payment by Apple Gift Card because attempt to remit the fee through CHIME flagged the transfer as suspicious. After insurance payment processed, I paid $200.00 which is high for any type transfer but I paid it as "refundable" which I know now is part of the scam.
Upon payment I was told that the transfer was unsuccessful and WU transfer could be made for an additional $200.00 also "Refundable". These fees by Apple Gift Cards makes it harder or impossible to trace or recover. All the Agents at Lending Club sound alike because only a few persons work for this loan scam outfit and probably originate from the same family or foreign country. They will quickly advise that you may wish to opt out for a refund in 3-5 days... You will never receive it. The last suit by the FTC may not have benefitted any consumers. The next one should close this fake lending business down for good. Don't be fooled. I lost $520.00 to Sam and Sheldon **. I can provide proof by email attachments. I am 69 and unable to upload my receipts successfully. Please contact me. **. Sincerely, Warren C. (New York)
Reviewed Nov. 4, 2025
I was informed that I needed to submit a paystub because linking my banking account is indeed not faster. I asked the representative how many check stubs he needed and he said only my most recent. I uploaded and confirmed receipt during the same conversation. More days pass, still no decision, so I call again. The new representative tells me I need to send in my last two paystubs! I send in my last 4 and again, confirm receipt during the conversation. By now we are on Oct 8, 2025.
On Oct 8, 2025, I call again! Now, I’m being told that no paystubs were received. I’m furious and ask for a supervisor! After roughly 20 mins of holding, I speak with a supervisor who gets in touch with the underwriter. The underwriter magically finds all of my documents and my refinance is approved. I’m emailed several documents to sign along with a prepaid shipping label to return back to Lending Club which I print, sign and return back to them the same day.
On Oct 9, I get an email that the payoff check to my current lien holder has been sent along with information on my new lien holder and my new due date. Today is November 4, 2025 and my current lien holder still has not received the payoff check from Lending Club. So, I call again! They contact my current lien holder, get a new payoff amount and the overnight address (first check was sent regular mail)! I’m also told that the new payoff check will be sent out no later than this Friday, November 7, 2025! My first payment with my new lender is November 8, 2025!
Lending Club tells me to make sure I keep making payments and I’ll get a refund if an overpayment is made! I completely understand that, but if I could afford two car payments, I wouldn’t have submitted an application to refinance! I passed up 3 other refinance approval including one at the bank that I work for (didn’t want the mix business and personal after thinking it over)! My advice is to RUN AS FAR AS YOU CAN AWAY FROM LENDING TREE! I hate I ever chose to do any sort of business with them, and I’ll never make this mistake
Reviewed Sept. 21, 2025
This company lending club is a waste of people's time. If there are a company that is helping people establish credit why are you not approving individuals that have decent credit and decent jobs. It's a waste of time with LendingClub and I refer not to give any positive feedback with that company because every time you apply they decline you wasting your time. I would never recommend anyone to apply for any loan with that company.
Reviewed Aug. 24, 2025
I've been a long-time customer of LendingClub, but my recent experience has been nothing but ridiculous and fraudulent. I paid off my loan ahead of schedule and was due a refund for both an origination fee and an overpayment credit. While they correctly refunded the origination fee ($120), they have been withholding over $1,000 due back to me for almost 2 months. They continue to give me bullshit account numbers that it was deposited to, that I have never heard of and they are claiming that it is now my problem LOL.
I've tried resolving this issue through numerous phone calls, live chats, and emails, but their representatives have provided conflicting and unhelpful information. They've continued to give me different account numbers every time I ask for where it has gone, and have even suggested contacting my ex-wife, which was completely unnecessary and inappropriate. Despite my efforts, LendingClub has failed to deliver the funds to me. I've to resorted to sending a formal demand letter, and if they really want to continue the nonsense, I will be getting a whole lot more than that. I have filed a complaint with the BBB and have contacted my lawyer.
I expect better from a company like LendingClub. This experience has been a disappointment because they were the first company to trust me about a decade ago when I was just learning about things and trying to get situated. I would not recommend their services based on my recent interactions and the revolting customer service and lies. PS, this company has paid over $150 Million in Lawsuit Settlements since 2018.
Reviewed July 29, 2025
BEWARE — Deceptive lending practices. LendingClub will automatically deposit funds into your bank account without requiring any documents to be signed to accept the terms & conditions. They require you to sign off on all required documents during the application process. They don’t make it clear that you need to cancel or they will deposit the funds automatically. The do not give you much time to cancel after the funds are deposited, so watch your bank account. They are refusing to make things right. They have horrible reviews for similar issues. I wish we would have known. They said we can “make a payment” with the funds they deposited but we will owe the $340 processing fee plus interest.
Customer service & management over customer service was horrible too. They said they would escalate & investigate but when we called to follow up, there was nothing documented in their system about escalation. Go with another lender who is transparent & follows normal lending practices. No one should be forced to take a loan that they didn’t sign final documents for.
Reviewed July 27, 2025
They lure you in with a personal loan, (harassing at times), and when you hit a rough patch, run up high numbers of penalties as well as high interest rates, then threaten to sue you to pay it back, which destroy potential earning to back it back as well as reputational damage. Predators compared to other personal loan offers, which settle at much lower numbers.
LendingClub Company Information
- Company Name:
- LendingClub
- Year Founded:
- 2006
- Address:
- 71 Stevenson Street, Suite 300
- City:
- San Francisco
- State/Province:
- CA
- Postal Code:
- 94105
- Country:
- United States
- Website:
- www.lendingclub.com
