What could affect the final amount of cash funds I receive?

When applying for a TopUp™ Loan, you will be provided with an estimate of the Cash Deposited to You. The additional cash you will receive is shown as an estimate. It’s important to note that there are several individual circumstances that could impact the final amount of cash you will receive.

Example #1: How long it takes to issue your loan?

Your payoff amount assumes 15 days of accrued interest. Depending on how long you take to accept your loan and complete the requirements for issuing the loan, LendingClub may owe you a refund or you may have a few extra days of accrued interest that will be adjusted from the additional cash.

Example #2: You’ve made a loan payment since accepting your offer.

We’ll refund any overpayment back to your account in the same way you’ve been making payments to LendingClub on your existing personal loan. For example, if you have been paying by electronic withdrawals from your bank account, LendingClub will then electronically deposit any refunds owed to you.

Example #3: If you are a resident of the State of Florida

If you are a resident of the State of Florida at the time of issuing your TopUp Loan, an additional Florida Stamp Tax fee will apply and will be deducted.

Example #4: You have unpaid late fees or outstanding payments on your previous loan.

If you have a current payment due, it’s important for you to continue making payments on your existing loan until your new TopUp Loan is issued. However, if you owe any late fees or outstanding payments on your previous loan, we’ll subtract that amount from your additional cash amount to cover the difference.

If we cannot disburse any loan proceeds to pay off your existing LendingClub Loan for any reason, we may cancel your request.

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