LendingClub is a legitimate, licensed lender. They are registered with state financial regulators, use 256-bit SSL encryption, and are accredited with the Better Business Bureau. While they have some customer complaints (as most lenders do), there are no major fraud patterns or regulatory actions that would indicate a scam.
Trust Signals We Verified
Things to Know Before Applying
- Origination fee of 3% to 8% on all loans
- Funding takes 2–4 business days
- Maximum loan of $40,000 is lower than some competitors
- Rates can be high for lower credit profiles
LendingClub Loan Details
| APR Range | 6.34% – 35.89% |
| Loan Amounts | $1,000 – $40,000 |
| Loan Terms | 2 – 5 years |
| Min. Credit Score | 600 |
| Origination Fee | 3% – 8% |
| Time to Fund | 2 – 4 business days |
Looking for a Strong Alternative?
Upstart is worth comparing to LendingClub, particularly if your credit score is below 600. Upstart has no minimum credit score, offers loans up to $75,000 (vs LendingClub's $40,000), and funds in 1 business day vs LendingClub's 2–4 days. Check your rate with no credit impact.
Check Upstart Rate — No Credit Impact →Frequently Asked Questions
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Upstart