LendingClub Review
LendingClub pioneered peer-to-peer lending and now offers personal loans through their bank with joint application options.
APR Range
9.57% – 35.99%
Loan Amount
$1,000 – $40,000
Min. Credit
600
Funding Speed
2 – 5 business days
LendingClub Personal Loan Review
LendingClub was the original peer-to-peer lending platform and has since become a full digital bank. They offer personal loans from $1,000 to $40,000 with the option to add a co-borrower — one of the few major lenders to offer this. LendingClub also offers direct payment to creditors for consolidation loans and a variety of term options. The origination fee (3–8%) is notable but competitive for the credit ranges they serve.
Best For
Borrowers who want a co-borrower option or direct creditor payoff
Pros
- Joint/co-borrower applications available
- Direct payment to creditors
- Pre-qualification with soft credit pull
- Hardship plans available
- Wide credit range accepted
Cons
- Origination fee of 3% – 8%
- Funding can take 2–5 business days
- Late fees apply
- Maximum loan of $40,000
Loan Details
| APR Range | 9.57% – 35.99% |
| Loan Amounts | $1,000 – $40,000 |
| Repayment Terms | 24 – 60 months |
| Minimum Credit Score | 600 |
| Funding Speed | 2 – 5 business days |
| Fees | Origination fee: 3% – 8%. Late fee: the greater of $15 or 5% of payment. |
Key Features
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Compare Other Lenders
| Lender | APR Range | Loan Amount | Min. Score | Funding | Rating | |
|---|---|---|---|---|---|---|
| SoFi Borrowers with good credit who want zero fees | 8.99% – 25.81% | $5,000 – $100,000 | 680 | Same day to a few days | Check Rate | |
| LightStream Excellent credit borrowers wanting the absolute lowest rates | 7.49% – 25.49% | $5,000 – $100,000 | 700 | Same day (with bank account verification) | Check Rate | |
| Upgrade Fair-credit borrowers who want flexibility and joint applications | 9.99% – 35.99% | $1,000 – $50,000 | 580 | 1 – 5 business days | Check Rate | |
| Best Egg Good-credit borrowers who need fast funding | 8.99% – 35.99% | $2,000 – $50,000 | 640 | Same day to next business day | Check Rate | |
| Avant Borrowers with average credit (580–700) who need fast funding | 9.95% – 35.99% | $2,000 – $35,000 | 580 | Next business day | Check Rate |
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LendingClub at a Glance
- Rating
- APR
- 9.57% – 35.99%
- Amount
- $1,000 – $40,000
- Min. Score
- 600
- Funding
- 2 – 5 business days