In-depth review of LendingClub personal loans. Discover whether or not you qualify for a LendingClub loan and if it's the best choice for you.




LendingClub has helped millions of customers secure personal loans through a convenient, fast application process. LendingClub doesn’t provide loans themselves, but instead, connects prospective borrowers to lenders. After sending in financial information to LendingClub, borrowers can browse through a list of offers before choosing the ideal rates and terms on their personal loan.

LendingClub has a fast online application process with flexible terms and low rates for loans between $1,000 and $40,000. Keep in mind that borrowers will need to pay certain fees including origination fees and for late payments. Still, this reputable lending company offers a reliable, quick way of securing a loan, especially for those with a good credit rating and banking history.




In order to qualify for a LendingClub personal loan, borrowers must fulfill the following requirements:

  • US citizen or permanent resident, or living in the US on a valid, long-term visa
  • At least 18 years old
  • Have a verifiable bank account


**LendingClub doesn’t accept loan applications from Iowa, Guam, or Puerto Rico.

LendingClub screens all applicants, looking at factors such as credit score, information on the loan application, information about the applicant provided by credit bureaus, and the likelihood of the applicant in making on-time payments. The application will ask for information including the requested loan amount, the purpose of the loan, and other personal information. LendingClub doesn’t require collateral on loans so those who don’t own a home can still secure larger loans at a low, fixed rate.

Applicants should have a credit score of at least 600 to receive approval for a personal loan. Those with a lower credit score have the option of a joint application as long as you apply with someone who has a credit score of over 600.


Loan Process


LendingClub has an extremely straightforward loan process. Those interested in securing a personal loan can do so completely free simply by filling in some basic information and submitting it online. Applicants can easily handle everything from the website including sending in forms and shopping through vendors.  

LendingClub screens all borrowers before facilitating the entire transaction process. After submitting the application, LendingClub assigns a grade based on bank details and credit history to determine terms and which investors will handle the loan request. Lenders can then determine whether or not they agree to the loan request based on the grade. Finally, borrowers will receive their offers and shop for their preferred option.

Keep in mind that LendingClub charges a one-time origination fee of 1-6% when applicants successfully receive their loan. This amount gets deducted automatically from the loan.


Loan Terms


Because LendingClub has a network of lenders, loan terms vary between different banks and financial institutions. Each offer will also depend on factors such as the applicant’s credit score, loan amount, loan term, and credit usage and history. 

LendingClub personal loans start at $1,000 and go up to $40,000. APRs range between 6.95% to 35.89%. LendingClub has flexible repayment terms of 36 or 60 months (three to five years). The service also gives borrowers the option to freeze the loan for three months if they cannot make payments.

Applicants who qualify for the best rates tend to meet certain qualifications. The ideal candidate will have a high credit score, low percentage of total outstanding debt compared with income, and a long history of credit with significant successful credit lines.


Customer Support


The online Help Center walks people through the application process, whether applying for a personal loan, looking for an auto refinance, or hoping to fund a small business.  The FAQs and blog have helpful information to guide borrowers through the loan process.

The website doesn’t host live chat support. However, LendingClub has reliable customer service available by email or by a toll-free number available Monday – Friday: 6am – 5pm PT and Saturday: 8am – 5pm PT.




  • Easy application
  • Flexible eligibility
  • Joint application loans available
  • Charges origination fee
  • Not available in some states
LendingClub connects borrowers with multiple lenders to secure loans between $1,000 to $40,000.


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Joe Schwartz

Personal Loans Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.