Guide to Securing a Personal Loan with Lending Club

Learn how to easily obtain a personal loan from Lending Club with a simple application process, eligibility criteria, and quick funding options. Discover steps to qualify and what to expect during approval and funding stages for your financial needs.

Guide to Securing a Personal Loan with Lending Club

How to obtain a personal loan through Lending Club

When you need to borrow funds, a lending agreement is established after discussing specific terms. This contract specifies repayment deadlines and interest rates on the borrowed amount. It’s important that your loan is secured and sourced from a reputable lender.

Steps to apply for a loan

Applying for a personal loan via Lending Club is straightforward and quick. Visit lendingclub.com to check your rates with just a click, and see what loan options you're eligible for.

Once eligible, you will receive multiple loan offers. Choose the one that suits your needs. The application process requires providing details about your income, employment, address, and social security number. Your documents may be requested for verification. After your information is processed, your loan will be approved and funded. You can monitor your application status online.

Upon approval and verification, and with backing from investors, the loan amount is transferred to your bank account within four business days. The entire process from application to funding can take anywhere from a week up to 45 days in some cases.

Qualifying Criteria for a Personal Loan

To qualify for a Lending Club personal loan, you must be a U.S. citizen or permanent resident aged 18 or older with a verifiable bank account.

Approval depends on various factors, including your credit report, credit score, and payment history. The lender reviews the application details along with credit bureau data to assess your eligibility.