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1Fixed rates starting at 5.9% to 25.9% for loans, with an average rate of 13.44% for loans in the last 12 months ending May 15, 2016. Variable rates from 6.25% to 21.85% for lines of credit, with an average rate of 15.08% for lines of credit in the last 12 months ending May 15, 2016. Averages are based on a 1 year offer. Best interest rate available to borrowers with excellent credit and financial strength.
“I would recommend Lending Club to any business owner who is looking for a loan with competitive interest rates, streamlined process and speed.”
Bison Supply LLC
“LendingClub's customer service is unparalleled.”
GC Fasteners Inc
“I plan to come back to LendingClub for another loan to expand my business.”
Khodr-Private Car Wash
A loan you can trust
Compare how we stack up to the competition
|Typical business loan from
another leading online lender
|Repayment Term||1-5 years
(means lower monthly payments)
|Typically less than a year|
|Type of Rate||Fixed interest rate
simple and transparent
This is not an interest rate, and can make
expensive loans appear cheaper1
|Origination Fee||0.99% - 6.99%||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 - $1,000||$509 - $3,900 (Daily payments required)|
|Total Annualized Rate4||7.77% - 35.11%||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.