Lending Club

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Contents
folder Investing Introduction
folder Eligibility
document What are the requirements to become an investor?
document What are the current “State and Financial Suitability” conditions?
document What if I don’t meet the “State and Financial Suitability” conditions?
document I do not qualify, but I already invested by mistake. What can I do?
document Can I be both an investor and a borrower?
folder How It Works
document Is there a limit to how much I can invest?
document How are loans listed and approved for investing?
document What is the default rate on Lending Club loans?
document How do I start investing? What’s the process?
document What am I actually investing in?
document Am I “investing” or am I “lending?”
document What are the terms of the loans?
document Who are the borrowers and what do they need the money for?
document Why do borrowers with great credit need Lending Club?
document Is my money insured?
document Do I pay taxes on my Lending Club earnings?
document Is my investment liquid?
document Can I be both an investor and a borrower?
document Do I need to keep investment tied for 5 years?
folder More Help
document One of the loans I funded is “In Review.” What does this mean?
document How do I verify my bank account?
document How do I change my password?
document I placed a security freeze on my credit file to prevent ID theft. Can I still become an investor?
document How do I close my account?
folder General
folder About Lending Club
document How can Lending Club offer better rates to borrowers?
document How can Lending Club deliver better returns to investors?
document How does Lending Club make money?
document What happens if Lending Club goes out of business?
document What is Lending Club?
document What exactly is Lending Club offering investors?
document Who is servicing the loans?
document What’s the evidence that the model works?
document How long has Lending Club been in business?
folder Rates and Fees
document Does it cost anything to join Lending Club?
document What fees do borrowers pay?
document What fees does Lending Club charge investors?
document Are the loan rates and investor returns posted on your website “net” of Lending Club’s fees?
folder Regulation and Compliance
document How is Lending Club regulated?
document Is my money insured through the FDIC?
document Where can I read your latest sales reports and SEC filings?
folder Privacy and Security
document How does Lending Club protect my identity?
document Do you share my personal information with other parties?
document Are lenders and borrowers allowed to know each other’s identities?
document How is my personal/financial information protected?
document How does identity verification work?
document How does Lending Club prevent identity theft?
document When I close my account is all my information deleted?
folder Start Investing
folder Open an Account
document What is the process for opening an account?
document Can I open more than one type of account?
document Do you pull my credit file when I open an account?
document What is the minimum investment amount to open my account?
document How do I transfer money to or from my account?
folder Funding Your Account
document Why can’t I transfer funds to my linked bank account?
document How do I transfer money to or from my account?
folder Account Types
document What are my account options?
document Who is eligible to open an IRA account?
document What’s the advantage of a Lending Club IRA?
document Are my IRA funds secure if Lending Club goes out of business?
document Who qualifies for a corporate account?
document How do I open the non-regular types of accounts?
document Can I transfer money from my regular investing account to my IRA account?
document Can I change the type of account I hold?
folder Build a Portfolio
document How do I select which loans I want to fund?
document How do I ensure I don’t invest in Notes more than once?
document Can I invest in a preset portfolio?
document How do I control the level of risk in my portfolio?
document How can I diversify my portfolio?
document How do I receive my monthly repayments?
document Why does the service fee show as 0.7% if there is a 1% charge on each payment?
document How do 5-year Notes compare to the existing 3-year Notes?
folder Earn a Higher Return
document How do I track my overall rate of return?
document Will I receive a summary of my annual earnings?
document How will I receive reports and forms?
document Is the rate posted on your website net of the default rate?
document More About Net Annualized Return (NAR)
folder Bonuses
document I signed up for a Lending Club account and applied for a bonus. When will I receive the bonus?
document Is Lending Club offering any bonuses to existing investors?
document If I received a bonus to try Lending Club, can I withdraw the funds?
folder Downloadable Data
document Browse Notes Downloadable File - Version History
document Data Glossary - Browse Notes and Loan Data Downloadable Files
folder Monitor My Investments
folder Payments
document How do I receive borrower payments?
document How long does it take for a borrower payment to show up in my account?
document How is the service fee charged?
document Why is there a “pending withdrawal” in my account?
document What is accrued interest and when do I get it?
document What happens if a loan is repaid early?
document More About Net Annualized Return (NAR)
document How We Use Rounding
folder Collections
document What happens if a borrower is delinquent?
document What to expect when a loan is late?
document Can I contact a borrower if they are late?
document How do I know what collection activities are going on about a late loan?
document What is a payment plan and how do I track it?
document What happens if a borrower dies or becomes disabled?
document What tools does Lending Club have to deal with delinquent borrowers?
document How does a loan go from default to charged-off?
document What happens in case of identity theft?
folder Taxes
document Do I pay taxes on my earnings from Lending Club?
document What tax documents can I expect from Lending Club? Will I be getting a 1099?
document When will my tax documents be available?
document Where are charge-offs reported?
document What if I have questions?
folder Borrowing Introduction
folder Eligibility
document What are the basic requirements for borrowers?
document How do you verify that borrowers meet these criteria?
document Can I be both a borrower and an investor?
folder How It Works
document How can Lending Club offer better rates to borrowers?
document How do I borrow money? What’s the process?
document How much can I apply for?
document How does Lending Club set interest rates?
document What are the terms of the loan?
document Are there any restrictions on how I use the money?
document What is a FICO score?
document Can investors see my personal information?
document What rates and fees will I pay?
document Can I apply for multiple loans?
folder More Help
document What if my loan isn’t fully funded when my listing ends?
document If my loan request is declined, can you provide a copy of my credit report?
document How can I correct errors in my credit report or credit score?
document How do I verify my bank account?
document How do I change my password?
document I didn't receive the email to complete the registration process—what should I do?
document How do I close my account?
document How long does it take to get my loan?
document Do you have any tips for getting funded faster?
document What if my loan does not get fully funded?
document Where do I find the bank verification debit amount?
document How do I verify my bank account?
document How long does it take to verify my bank account?
folder Borrowing Money
folder Apply for a Loan
document What is involved in the application process?
document Can I apply for more than one loan at a time?
document Do you report my loan and repayment activities to credit bureaus?
document Do you send me a copy of my credit report and credit score?
folder Qualify for a Low Rate
document Do I need to verify my income?
document How long does it take to get listed and approved?
document What if my loan request is approved but the rate is higher than I expected?
document How and when do I receive the money?
document How do I move funds to my bank account once the loan is funded?
folder Repay the Loan
document How do I make the loan payments? Can I pay online?
document Can I repay early with no penalties?
document Can I make additional loan payments? How?
document How do I withdraw my application?
document What if I’m late in making a payment?
document What if I’m laid off or become disabled and can’t pay?
document Do you report borrowers’ accounts to the credit bureaus?
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Borrowers hurt by the credit squeeze and investors looking to boost their returns are increasingly turning to the same place: peer-to-peer lending.

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Featured Borrower

Sarah
  • Sarah
  • Newfield, NJ
  • Pay off Credit Cards
  • $15,000 loan at 9.79%APR

"As an accountant, I am very conservative about money. My daughter's credit card jumped her interest rate... I found Lending Club and got a loan to pay off her credit card."

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