What are the requirements to become an investor?
Both individuals and entities can be investors at LendingClub.
State and financial suitability
Our investment offerings are not currently available to all investors in all states. Investors may invest in loans facilitated by LendingClub only if they reside in one of the states listed here and also meet that state’s Financial Suitability conditions.
Identification and verification
Individual investors must be at least 18 years old, have a valid social security number, and have their identity successfully verified by LendingClub.
Family trusts, companies and other organizations will need to contact us at 1-888-596-3159 or firstname.lastname@example.org for identity verification purposes in order to become investors.
Account and investment minimums
There is a required initial deposit of at least $1,000. Once an account is funded, there is a $25 minimum investment per Note.
Different account types
LendingClub offers a variety of account types to meet your investing needs. We offer individual accounts, joint accounts, trust accounts, corporate accounts, and custodial/minor accounts. Open an account today.
We also offer 401(k) rollover and retirement accounts, including Traditional IRAs, Roth IRAs, SEP IRAs, and Simple IRAs with our custodian IRA Services Trust Company (ISTC).
Flexible investment styles
LendingClub’s platform supports a wide range of investment styles. Some investors prefer to actively check their accounts, taking a more manual approach where they log into their account regularly, browse the loans listed on the platform, and place orders manually. Some investors even download the loan details and perform their own analyses before placing an investment order.
On the other hand, some investors prefer to select their investment criteria once and let our automated investing service continuously execute their investment strategy for them. This option saves investors time while maintaining control of their investment strategy.
Whether you want to hand-pick every Note that you invest in, or you want to set your investment criteria and let automated investing put your cash to work, LendingClub provides the information and the tools to help you do so.
Investors should be prepared to hold their investment to maturity. Currently, loans facilitated by LendingClub have 36- or 60-month terms at origination.
LendingClub’s preferred IRA custodian is IRA Services Trust Company (ISTC). ISTC charges an annual account fee upon account funding, and annually on the anniversary of account funding. LendingClub will pay the annual account fee at account funding on your behalf if, within the first 12 months, you maintain a minimum balance of $5,500 or more invested in LendingClub Notes. As long as you maintain the minimum account balance requirement, LendingClub will continute to waive the annual account fee for subsequent years.
All account balances are determined on the last calendar day of the month preceding your anniversary date (e.g. if you fund an account on February 15, 2018, account balances will be determined on January 31, 2019). An annual account fee applies to accounts that don't meet these requirements. LendingClub reserves the right to modify or discontinue this offer at any time. For more information about ISTC's fees, please email email@example.com.