There’s no down payment or application fee. In fact, your first monthly payment won’t be due for three to four weeks after your financing has funded.
Is There a Down Payment?
Last Updated June 8, 2023less than a minute read
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Related FAQ's
There are two ways to check if your provider offers LendingClub financing.
We offer financing to cover a wide range of procedures and treatments—up to $50,000.
Any US citizen or resident over 18 years old can apply.
While our partner network is expanding, we currently offer closed-end, fixed-rate financing for these types of products and services:
Your annual percentage rate (APR) is the overall yearly cost of your loan, including fees and interest. The APR on LendingClub Bank loans ranges from 7.04% to 35.99%.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
