Get a quote in minutes.
Won't impact your credit score!
Get all your capital up front, 1-5 year terms.
Fixed monthly payments, no prepayment penalties.
Get matched with low cost small business lenders.
Businesses love LendingClub.
Transparency and friendly service.
See what our customers have to say.
95% of clients would recommend to a friend or family.3
You'll have your own, dedicated US-based Client Advisor at 855-846-0153 M-F between 6:30am-5pm PT.
4.99% for best borrowers.4
No prepayment penalties.
Apply in under 5 minutes and receive multiple quotes.
Benefits of a small business loan through LendingClub
Get a decision in minutes. You'll get money in your account and enjoy predictability with fixed, low monthly payments that will build your business credit.
“I would recommend LendingClub to any business owner who is looking for a loan with competitive interest rates, streamlined process and speed.”
“LendingClub's customer service is unparalleled.”
“I plan to come back to LendingClub for another loan to expand my business.”
| Typical business loan from a leading online lender |
||
|---|---|---|
| Repayment Term |
6 months - 5 years (means lower monthly payments) |
Typically less than a year |
| Type of Rate |
Fixed interest rate simple and transparent |
Factor rate This is not an interest rate and can make expensive loans appear cheaper1 |
| Origination Fee | 3.49% - 7.99% | 2.5% |
| Early Pay Off | $0. You can eliminate interest costs by paying off any time | You're charged interest for the entire loan - even if you pay off early2 |
| Monthly payment per $10,000 borrowed3 | $227 - $1,781 | $509 - $3,900 (Daily payments required) |
| Total Annualized Rate4 | 9.77% - 35.98% | 35% - 99% |
1 Factor rate is the financing cost divided by the loan amount - but that’s not how traditional interest rates work. For example, if you pay 30 cents for a one-year loan of one dollar, your factor rate is 30% but is equivalent to a 55% interest rate! Factor rates can make short-term loans appear less expensive than a traditional interest rate would.
2 These loans require you to repay a fixed amount of interest, so paying off early won't save you any money. In fact, it can increase your effective interest rate to 200% or more.
3 Payments calculated based on range of interest rates and repayment terms offered, assuming a loan amount of $10,000.
4 Total Annualized Rate shows all costs for one year in a single equivalent interest rate so that you can make apples-to-apples comparisons.
LendingClub is America’s #1 credit marketplace, transforming banking to make it more efficient, transparent and consumer friendly. We operate fully online with no branch infrastructure and use technology to lower cost and deliver an amazing experience.