A small loan from LendingClub Bank is a fixed-rate personal loan with a smaller loan amount that can help you get exactly what you need to pay down high-interest debt or cover your expenses now, while keeping your monthly payment manageable over time. A small personal loan can start as low as $1,000 and offers lower, competitive rates and fixed monthly payments. * When you need to borrow a small amount of money to cover unexpected expenses and don’t want to dip into savings, a personal loan is a smart alternative to high-interest credit cards or other expensive options like payday or auto title loans.
Small loans offer big flexibility, allowing you to cover nearly any expense with lower, fixed monthly payments.
With LendingClub, you can check your rate on a personal loan for small expenses or debt consolidation without obligation or impacting your credit score. Once you’ve found your best small loan option, you’ll complete the application process, including a hard pull of your credit report, and a review of your debt-to-income ratio, overall debt, and income. In many cases, you can complete the process entirely online. Once your loan is approved, money is deposited directly into your bank account typically within two days, so you can cover your expenses right away. You’ll then make fixed monthly payments for the duration of your repayment term. If at some point you decide to pay off your loan early, no prepayment fees will be applied.
When deciding which personal loan lender is right for you, you’ll want to compare: