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SMALL LOANS

Protect your savings with a small personal loan

Checking your rate won't impact your credit score1

What is a small loan?

A small loan from LendingClub Bank is a fixed-rate personal loan 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 the same for the duration of your repayment plan. A small personal loan can start as low as $1,000 and offers competitive rates.

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 5 million members

  • Borrow a small amount, only what you need

  • Quick and easy online application

  • Eligibility based on credit history

  • Receive money quickly, upon loan approval

  • No prepayment fees

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Why get a small loan?

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Get Cash Fast

Apply in minutes. Upon approval, receive money quickly.
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Protect Your Savings

Avoid dipping into savings or retirement funds and keep your finances on track.
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Lock in a Fixed Rate

With a fixed rate, your monthly payment will never increase.
Check Your Rate

Small loans offer big flexibility, allowing you to cover nearly any expense with 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 the best 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 be able to 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: 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: Application costs, origination fees, and prepayment penalties vary by lender and may impact your total cost. Compare APRs between different lenders to understand 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 cards

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 compared to credit cards2

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.3

—Dagney, a member from Maryland 


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How LendingClub personal loans work

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How LendingClub personal loans work

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San Francisco, California 94105

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  1. 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. 

  2. On average, Personal Loans from LendingClub Bank are offered at an APR of 14.81% with an origination fee of 6.00% and a principal amount of $19,169 for loans with term lengths of 36 months, based on current credit criteria and an analysis of historical borrower data between October 2023 and December 2023. For credit card purchases made in December 2023, the average APR was 22.70%, according to publicly available information published by TheBalance.com. If a borrower pays off a credit card balance of $18,019 with an APR of 22.70% over 36 equal monthly payments, the borrower will pay $6,990 in total finance charges. If the borrower obtains a Personal Loan with a term of 36 months and an amount financed of $18,019 (principal amount of $19,169 with an origination fee of $1,150 at 14.81% APR, the borrower’s monthly payment will be $623 and the borrower will pay $4,407 in total finance charges over the term of the loan, a savings of $2,583 as compared to the average credit card for borrowers with average credit scores.

  3. Any reviews presented are individual experiences and results may vary. Reviews are collected and authenticated by Bazaarvoice. Any average rating presented is based on these reviews. All reviews can be accessed at https://www.lendingclub.com/company/reviews.

A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $17,413 for a term of 36 months, with an interest rate of 12.49% and a 6.00% origination fee of $1,045 for an APR of 16.86%. In this example, the borrower will receive $16,369 and will make 36 monthly payments of $582. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 72 months. Some amounts, rates, and term lengths may be unavailable in certain states. 

For Personal Loans, APR ranges from 7.90% to 35.99% and origination fee ranges from 0.00% 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  Apr 22, 2025 and are subject to change without notice. 

© 2017-2025 and TM, NerdWallet, Inc. All Rights Reserved.

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,” the “LC” symbol, “TopUp,” and “DebtIQ” are trademarks of LendingClub Bank.

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