About Borrowing
Need Money? Lending Club is a social lending network where you can borrow money at better interest rates because these online loans are direct loans—they're being funded by other people like you or organizations, including Lending Club itself, that do not have the administrative costs of banks.
Here you can get an unsecured personal loan to help start a business, aid debt settlement with credit cards or students loans, or for any other purpose, directly from other members. Whatever the reason, if you're thinking "I need money" today, join Lending Club to enjoy the kind of low interest rate only possible through social lending!
Lending Club is open to US residents. In order to qualify for funding, you will need a FICO score of at least 640 with a debt-to-income ratio (excluding mortgage) below 30%. In addition, you should have no current delinquencies and at least 12 months of credit history.
Get a low interest rate
Banks incur significant costs by collecting deposits from the public on the one hand and extending loans or issuing credit cards on the other hand. Lending Club eliminates most of these costs by creating a place where people can transact direct loans among themselves. Because these online loans are being funded by individuals like you, you can borrow money at a low interest rate—one that's lower than what you would get from a bank. Learn more about rates and fees.
Online loan application
Lending Club makes getting an unsecured personal loan easy and convenient. The entire process happens online. You can choose how much money you would like to borrow (between $1,000 and $7,500), instantly receive feedback as to the interest rate you qualify for, and then confirm the amount or pick a different amount at a different rate—all in real time, online and with no hidden costs or charges.
Privacy
Lending Club employs strict procedures and the latest technology for safeguarding your personal and financial information. Further, we protect your privacy and that of your fellow members by ensuring that private lenders and borrowers are identified only by their chosen screen names. When you borrow money, you can share as much or as little information about yourself as you deem necessary to secure funding. Read our privacy policy for more information.
Flexible, easy financing conditions
All loans have a 3-year term, but if during that period your circumstances change, there are no penalties or charges if you decide to repay your installment loan early.
Predictable payments
Many members borrow through Lending Club at 9% to pay off their credit card balance carrying interest at 15%. In addition to getting a lower interest rate, you can better manage your budget by making predictable monthly installment loan payments instead of being subject to revolving credit card balances.
