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WiseIQ Editorial Team
Reviewed by certified financial experts  ·  Updated April 2026
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LendingClub is one of the original peer-to-peer lending platforms, now operating as a fully licensed bank. Its standout feature is joint application support — if your credit score isn't strong enough to qualify alone, you can apply with a co-borrower to improve your approval odds or secure a lower rate.

LendingClub accepts borrowers with credit scores as low as 600 and offers loan amounts from $1,000 to $40,000. It's a solid choice for debt consolidation, with direct-pay options available to send funds directly to creditors.

LendingClub Personal Loan

600+ credit score · $1,000–$40,000 · Joint applications accepted · Check rate without affecting credit

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Rates, Fees & Key Terms

WISEIQ TOP PICK
PERSONAL LOANS
Upstart logoUpstart
Best for fair & thin credit · AI-powered approval
APR RANGE
7.80%–35.99%
LOAN AMOUNT
$1K–$50K
MIN. CREDIT
300
✓ No prepayment penalty ✓ Funds in 1 business day ✓ Soft pull pre-qualification ✓ Considers education & job history
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No credit score impact
WiseIQ may earn a referral fee if you apply through this link. Rates shown are representative and may vary. See Upstart's website for full terms.
FeatureDetails
APR Range8.98% – 35.99%
Loan Amount$1,000 – $40,000
Loan Terms24, 36, 48, or 60 months
Origination Fee3% – 8%
Late Payment Fee$15 or 5% of payment (whichever is greater)
Prepayment PenaltyNone
Minimum Credit Score600
Joint ApplicationsYes
Funding Speed2–4 business days

✓ Pros

  • Joint applications accepted — apply with a co-borrower
  • No prepayment penalty
  • Direct pay to creditors for debt consolidation
  • Soft pull to check rate
  • Established lender with $90B+ in loans funded
  • Loan amounts as low as $1,000

✗ Cons

  • Origination fee of 3%–8% is on the higher end
  • Maximum loan amount ($40K) lower than some competitors
  • Minimum credit score of 600 excludes very poor credit
  • Funding takes 2–4 days — not the fastest option

LendingClub — Check Your Rate Today

No credit score impact · Joint applications welcome · Rates from 8.98%

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Frequently Asked Questions

What credit score do you need for a LendingClub personal loan?

LendingClub requires a minimum credit score of 600 for personal loans. However, the best rates are reserved for borrowers with scores of 700 or higher.

Does LendingClub allow joint applications?

Yes. LendingClub is one of the few personal loan lenders that allows joint applications, which can help borrowers with lower credit scores qualify or get a better rate by adding a co-borrower.

How long does LendingClub take to fund loans?

LendingClub typically funds loans within 2–4 business days after approval and document verification.

Does LendingClub charge an origination fee?

Yes. LendingClub charges an origination fee of 3%–8% of the loan amount, which is deducted from your loan proceeds before disbursement.

Is LendingClub a legitimate lender?

Yes. LendingClub is a fully licensed, FDIC-insured bank that has been operating since 2007. It has facilitated over $90 billion in loans and is publicly traded on the NYSE.

Sources & Methodology

WiseIQ's editorial team researches and fact-checks all content using primary sources. Our recommendations are based on independent analysis and are not influenced by advertiser relationships.

Last reviewed: April 3, 2026  |  How we rank products