LendingClub Reviews

LendingClub Reviews
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About LendingClub

With LendingClub, you can get a personal loan, refinance your car payments or take out a small business loan. Its online marketplace connects borrowers with a network of lenders to help them select the best loan.

Pros & Cons

  • Quick, easy online application
  • Fast money delivery
  • No prepayment penalties
  • Fixed interest rates
  • Somewhat high minimum APR

Featured Reviews

Astoria, NY

I have borrowed from this lender twice and each time, it has been picture perfect. While no one wants to borrow to pay off debts, the fact that this company was willing to give me...

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Phoenix, AZ

I was wary of getting a personal loan, I suspected there would be hidden fees or a hidden "extra" interest rate. As an attorney, I read the fine print carefully and found that the...

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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.

  1. Apply online by providing the amount you want to borrow and the purpose of the loan.
  2. Select a loan offer.
  3. 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. LendingClub offers fixed interest rates and a single monthly payment. There’s also no penalty for paying off your loan early. LendingClub also offers a mobile app that lets you access your full marketplace membership in one place, including personal loans, banking products, etc.

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 $65,000 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 60 months, and all transactions take place through your LendingClub account. Once approved, your loan is usually deposited directly into your bank account within two days.

available personal loan options from lendingclub

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 $500,000 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 owe $4,000 to $55,000 on their auto loan and want to lower their monthly car payments. 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 $1,000 to $65,000 or revolving lines of credit from $499 to $32,000. Installment loans can be repaid in two to eight years with fixed rates ranging from 3.99% to 30.99%. Line of credit borrowers can secure rates as low as 0% APR.

available patient solutions options from lendingclub

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$1,000 to $40,000
Term lengths24 to 60 months
APR range9.57% to 35.99%
Origination fee3.00% to 8.00%
Prepayment feeNone
Minimum credit scoreNot disclosed

LendingClub rates

LendingClub charges an annual percentage rate (APR) between 9.57% to 35.99% 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 3.00% to 8.00% 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 24 hours and receive funds within two days.

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.

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 4.7 million people and that its borrowers see an average credit score increase of 48 points when using a personal loan to pay off credit card debt.

LendingClub Reviews

Stars Rating

  • 37%
  • 14%
  • 7%
  • 7%
  • 35%

Popular Mentions

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    How do I know I can trust these reviews about LendingClub?
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 5
    Verified purchase
    Customer ServiceStaffLoan ProcessTransparency

    Reviewed Oct. 14, 2023

    My experience with Lending Club was nice and the process was easy. I love how they send a reminder a week before the payment is due. They will make sure that the funds are there. You also couldn't beat the APR for what I got. The rep who helped me was very nice. The lady called me to let me know that the loan was approved and what account it would go to. Once they paid off the card that I needed to pay off, the difference would go into my bank account. She explained everything to me.

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      Punctuality & SpeedLoan ProcessRates

      Reviewed Oct. 1, 2023

      LendingClub's process was pretty quick. I got the approval within a day or two, maybe less, and they approved me of whatever I was looking at. They had the best rates, too. The funding took a couple of days but it was straightforward and simple. The debt consolidation loan I got thru them has helped me do what I was trying to do.

      Verified purchase
      Online & AppLoan ProcessRates

      Reviewed Sept. 21, 2023

      LendingClub was easy to deal with. I did a personal loan with them and the application process was fairly simple. I did everything online and their website was very easy to navigate. The rates were good and fair. There was an initial rate that they had provided and when everything was finalized, it went to another rate. It wasn't much difference but it was different.

      Verified purchase
      Punctuality & SpeedOnline & AppStaffLoan Process

      Reviewed Aug. 30, 2023

      After looking at all the different options, LendingClub wound up being the best because of no fees. I took a debt consolidation. The application process was super simple. They didn't ask too much about income. They did a credit check. The credit minimum was somewhere in the 600s. It wasn't anything crazy. It was a really easy and good starter loan. Also, I was approved within 24 hours. It was really quick. I didn't have to wait at all. Working with LendingClub was good because I really needed it and it's helped ease a burden that was on me and it's really simple. I have autopay on, so I don't even have to think about it.

      Verified purchase
      Customer ServiceStaffRates

      Reviewed July 10, 2023

      I contacted customer service to double-check on one of the financial documents I needed to provide, and I was so impressed by how helpful and efficient the customer service agent I talked to was. She made sure I had everything entered correctly and answered questions I didn't even know I needed answered. I like the website and loan management as well; it's super user friendly. Plus my interest rate and APR is better than anything else I was able to find. Very happy with my choice!

      Customer ServiceRates

      Reviewed June 11, 2024

      Horrible service, their rates are way too high and they try and hide it extra charges for no reason. In the end, they overdrew on my account. Fraudulent report on my credit score. When you try and contact corporate all they leave you as a mailing address and they never respond.

      Customer ServiceStaffLoan Process

      Reviewed June 8, 2024

      I was offered a Permanent Loan Modification while I was falling behind, at the time it wasn't the best option for me to assist during my hardship since I still had to pay, I missed 1 of their payments during a lock in period of April 2024 - June 2024 and now that I'm trying to catch up since I'm not working again I was denied the permanent loan modification - I had asked for a extension during my hardship instead since paying nothing was the best for me at the time and wasn't offered this. Now I lost the chance for the permanent loan modification and now behind even more and they still took out 1 of my lock in period payments (2nd one).

      I've called multiple times to speak with higher management to give me a 2nd chance and it'll even make all those lock in payments and the agents servicing me always tell me no. I've been a good customer and made all my payments prior to my medical condition that put me back. You'd hope they would be a bit understanding to their long time customers who had nothing but good experiences with them.

      Loan Process

      Reviewed May 30, 2024

      Don’t Do it, very much a scam. They promised me a loan. Stole $5000 from me instead, now I have to clean up a mess not to mention screwed my credit. Don’t do it. Had to close all my accounts that I had since 2015.


      They tried to get me to go. To Walmart and asked for all of my information I told them I would call the police on them get them locked up


      Reviewed May 18, 2024

      Lending club is nothing but a scam. Employees drain your bank account after doing a test deposit. Employees will RIP you off by fake mobile deposits then your account is completely drained and overdrawn on a matter of minutes. Even before your bank account can be frozen to stop the withdrawal.

      Customer ServiceStaffRates

      Reviewed May 16, 2024

      Applied at Lending Club got approved for 5000 dollars. Looked at the payments and interest and thought there was something wrong, so I didn't proceed. After investigation I found it was a scam. Now I get calls from them and the caller ID comes up different names. What a nightmare. I seriously need help. I had heart failure, have been trying to work as much as I can and now I have to deal with people trying to rip me off when I barely have anything.


      I almost proceeded but glad I didn't

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      LendingClub Company Information

      Company Name:
      Year Founded:
      71 Stevenson Street, Suite 300
      San Francisco
      Postal Code:
      United States