Protect Your Savings With a Small Personal Loan

How much do you need?

What Is a Small Loan?

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 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.

Join Over 4 Million Members Nationwide!

  • Borrow a small amount, only what you need

  • Quick and easy online application

  • Eligibility based on credit history

  • Receive money quickly, on loan approval

  • No prepayment fees

Why Get a Small Loan?

Get Cash Fast
On average, members receive funding within 30 hours of loan approval.1
Protect Your Savings
Avoid dipping into savings or retirement funds and keep your finances on track.
Lock in a Fixed Rate
With a fixed rate, your monthly payment will never increase.

Small loans offer big flexibility, allowing you to cover nearly any expense with lower, fixed monthly payments.

  • Debt consolidation

  • Car repairs

  • Home repairs and upgrades

  • Major appliance purchases

  • Electronics purchases

  • Veterinary bills

  • Medical expenses

  • Moving and relocation

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:

  • Loan amounts: Loan amounts vary by lender and eligibility criteria. Some lenders may set minimum loan amounts higher than you need.

  • Repayment terms: A longer loan term can lower your monthly payment, but a shorter term will cost you less overall.

  • Interest rate ranges: A Interest rates and APRs vary by lender. The lower your APR, the less your loan will cost overall.

  • Eligibility requirements: Loan approvals are typically based on your credit score, payment history, and income, among other factors.

  • Fees: pplication costs, origination fees, and prepayment penalties vary by lender and may impact your total cost. Compare APRs between different lenders to understand the the true cost of each loan offer

  • Joint applications: If you think you might not qualify on your own based on your credit history, work with a lender that accepts co-borrowers and apply together for a joint personal loan.

Personal Loans vs. Credit Card Comparison

Personal Loans

  1. Installment loans can help you pay down debt and take control of your budget
  2. Single, fixed rate monthly payment is easy to manage
  3. Fixed monthly payment and payoff date saves you money over time
  4. Lower average APRs

Credit Cards

  1. Revolving credit accounts can lead to overspending
  2. Managing multiple credit cards with variable due dates, limits, and terms is time consuming and stressful
  3. Low minimum monthly payments and revolving compound interest can trap you in a cycle of debt
  4. Higher average APRs are an expensive way to pay for large purchases

What Our Members Say

I applied for a small loan and was approved the next day. Within a day or two later, I had my loan. It could not have been easier. This is the second time I have used LendingClub and I am extremely satisfied.

—Dagney, a member from Maryland 2

Read More Reviews

How LendingClub Personal Loans Work

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How LendingClub Personal Loans Work

Check Your Rate
  1. Between April 1, 2023 and June 30, 2023, Personal Loans issued by LendingClub Bank were funded within 30 hours after loan approval, on average. 46% of Personal Loans issued by LendingClub Bank during the same period were funded within 24 hours after loan approval. Loan approval, and the time it takes to issue a credit decision, are not guaranteed and individual results vary based on creditworthiness and other factors, including but not limited to investor demand.

  2. This is one person's experience. Individual results may vary. Based on reviews collected and authenticated by Bazaarvoice. All such reviews can be accessed at

Savings are not guaranteed and depend upon various factors, including but not limited to interest rates, fees, term length, and making payments as agreed. 

A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $19,854 for a term of 36 months, with an interest rate of 10.29% and a 6.00% origination fee of $1,191, for an APR of 14.60%. In this example, the borrower will receive $18,663 and will make 36 monthly payments of $643. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 60 months. Some amounts, rates, and term lengths may be unavailable in certain states. 

For Personal Loans, APR ranges from 9.57% to 35.99% and origination fee ranges from 3.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of July 11, 2023 and are subject to change without notice. 

Checking a rate through us generates a soft credit inquiry on a person’s credit report, which is visible only to that person. A hard credit inquiry, which is visible to that person and others, and which may affect that person’s credit score, only appears on the person’s credit report if and when a loan is issued to the person. Credit eligibility is not guaranteed. APR and other credit terms depend upon credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and credit usage and history. 

Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

"LendingClub" and the "LC" symbol are trademarks of LendingClub Bank.

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