LendingClub
Your partner in financial well-being.
Overview
LendingClub is a peer-to-peer lending company, now a bank, that provides a platform for individuals and small businesses to obtain loans. These loans are funded by individual and institutional investors who earn interest on their investments. It offers personal loans, business loans, and auto refinancing.
✨ Key Features
- Peer-to-peer lending for personal and business loans
- Fixed interest rates and monthly payments
- Online application and approval process
- Investment opportunities for individuals and institutions
- Now operates as a bank
🎯 Key Differentiators
- Long-standing player in the peer-to-peer lending space
- Now a chartered bank, offering more stability and product breadth
- Large volume of loans originated
Unique Value: Provides a streamlined online platform for borrowers to access affordable credit and for investors to earn returns by funding those loans.
🎯 Use Cases (4)
✅ Best For
- Facilitated billions of dollars in loans since its inception.
💡 Check With Vendor
Verify these considerations match your specific requirements:
- Equity or reward-based fundraising
🏆 Alternatives
As a bank, LendingClub can now hold loans on its own balance sheet, potentially offering more competitive rates and a more integrated financial experience than pure marketplace lenders.
💻 Platforms
🛟 Support Options
- ✓ Email Support
- ✓ Phone Support
🔒 Compliance & Security
💰 Pricing
Free tier: Free to apply for a loan. Borrowers pay an origination fee.
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