Logo

How Long Does It Take to Get Approved for a Loan?

less than a minute read

Our process is fast—most members are approved within a few hours.1 The exact turnaround time you’ll see for your application will depend on your unique details. Once you submit your application, we start confirming the information you entered about your identity, employment, and income.

If we need any additional details or documents, we’ll let you know through your To-Do List, so check in on that regularly. You can also sign into your Member Center anytime to check your loan status.

For more details on the loan process as a whole, read How do I get a loan?

1. Between April 1, 2023 and June 30, 2023, Personal Loans issued by LendingClub Bank were approved within 2 hours, on average. 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. 

Keep more of what you earn and earn more on what you save.
Check your rate. It won’t impact your credit score.2
Privacy & Security

LendingClub Resources

Related Resource Center
Is personal loan interest tax deductible?
Taxes may not be the most exciting thing you'll ever do, but if you have a personal loan, knowing the potential tax implications can help when it comes time to file your return.
Personal Loan
Oct 8, 2024
6 min read
Are Personal Loans Tax Deductible?
13 DIY home repairs you can handle yourself
Pride of homeownership also means managing (and paying for) what can often feel like an insurmountable list of repairs and improvements. Sometimes it's difficult to know when to DIY a home repair project or find a handyman or other professional better equipped to handle it for you. Learn which common home improvement projects are simple enough to tackle on your own, and when to call in the experts.
Personal Loan
Sep 28, 2024
8 min read
DIY home repair
How much credit card debt is too much?
Too much credit card debt is when monthly payments exceed 30% of your income, leading to financial strain, difficulty covering essential expenses, and increased risk of defaulting.
Personal Loan
Sep 23, 2024
8 min read
11 Signs You Have Too Much Credit Card Debt [+4 Ways to Pay It Off]
8 different types of loans you should know about
Different types of loans include personal loans, mortgages, auto loans, student loans, and business loans. Each serves specific needs, with varying terms, interest rates, and eligibility requirements.
Personal Loan
Sep 21, 2024
7 min read
typeofloan
What are "quick loans" & how do they work?
When you’re in a pinch and looking for a quick loan, you may come face-to-face with a variety of lenders offering payday, auto title, and high interest rate installment loans hidden under a different name. Though their lax requirements and fast funding may be tempting, there are often better, more affordable options available that match your borrowing needs.
Personal Loan
Sep 19, 2024
8 min read
Two people sitting on ground next to ladder and paint buckets
Related Impact
Members Earn More Cash Back and Rewards With Stackit
From groceries and diapers to Halloween costumes for pets, nearly 60% of American consumers prefer to shop online for everyday items that make life more convenient, comfortable, and enjoyable. And with rising prices showing no signs of stopping anytime soon, we’re pleased to introduce StackitTM from LendingClub Bank—a new browser extension that automatically finds and rewards eligible members with coupons and cash back for extra savings at more than 15,000 favorite online retailers.
Company News
Nov 13, 2022
2 min read
blog header stackit 765x430 v1-1
LendingClub Rewards Checking Nationally Certified as Trusted, Affordable
Even in today’s low-yield, high-inflation environment, it’s essential to keep a certain amount of money in an easy-to-access checking or savings account for things like daily household and emergency expenses, or to meet short-term financial goals.
Company News
Oct 2, 2022
5 min read
LendingClub Rewards Checking Nationally Certified as Trusted, Afforda
LendingClub Surpasses 4 Million Members
Since 2007, LendingClub has been on a mission to deliver a world-class experience to all our members. This month we took a moment to reflect on the more than four million members who have chosen LendingClub as their partner to help them reach their financial goals.
Company News
Apr 19, 2022
2 min read
Illustration of large number 4 and letter M made up of colorful, tiny illustrations of ethnically diverse people
LendingClub Celebrates One Year as a Digital Marketplace Bank
In March 2022, we hosted our first quarterly webinar where we celebrated our one-year anniversary as a digital marketplace bank. 
Company News
Mar 6, 2022
less than a minute read
Blog-post
Changes to Our Business Model
LendingClub completed the acquisition of Radius Bank in February 2021. At that time, in addition to the direct-to-consumer deposit business, we inherited a fintech partner program, and several lending businesses. As we reach the one-year anniversary of the acquisition, and in conjunction with the conclusion of a strategic review of our business operations, we have made the decision to discontinue certain businesses that don’t fit our mission.  
Company News
Jan 2, 2022
2 min read
Man in blue button up shirt and glasses smiling
Related FAQ's
What Are the Rates, Fees, and Interest for Personal Loans?
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 6.34% to 35.89%.
Personal Loan FAQ
Jun 7, 2023
less than a minute read
What SCRA and MLA Benefits Are Available for Servicemembers?
The Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA) provide certain financial benefits and protections to eligible servicemembers when they enter active duty.
Personal Loan FAQ
Jun 7, 2023
2 min read
How Do I Qualify for a Personal Loan?
To qualify for a lending product with LendingClub Bank, you must...
Personal Loan FAQ
Jun 7, 2023
less than a minute read
Should I get a debt paydown loan?
Debt paydown loans are a great option to pay down or consolidate multiple debts, while cash loans may be a better fit for a single large expense.
Personal Loan FAQ
Jun 7, 2023
2 min read
How Much Can I Borrow?
LendingClub Bank offers loans up to $40,000.
Personal Loan FAQ
Jun 7, 2023
less than a minute read
Related Glossary
Revolving Credit
{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.
R Letter Term
Sep 6, 2023
4 min read
Annual Percentage Rate (APR)
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
A Letter Term
Mar 21, 2023
3 min read
Accrued Interest
{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. 
A Letter Term
Mar 21, 2023
4 min read
Charge-Off
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.
C Letter Term
Feb 7, 2023
3 min read
Fixed Interest Rate
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
F Letter Term
Feb 4, 2023
3 min read

WHAT WE OFFER

Personal LoansPersonal BankingAuto RefinancingPatient SolutionsBusiness LoansBusiness BankingCommercial BankingInstitutional InvestingLC NotesOther Types of LoansApply for a Personal LoanApply for a Bank Account

RESOURCES

Borrower ResourcesInvestor ResourcesPersonal Loan Rates & FeesCustomer ReviewsResource CenterGlossarySafety & Privacy

LEGAL

Terms of UsePrivacy PolicyData Collection and UseAccessibilitySEC FilingDisclosures and AgreementsLegal Requests

ABOUT US

CRA Public FileCompanyLeadershipCareersMedia CenterCorporate GovernanceInvestor RelationsContact

ACCOUNT

Sign InMobile AppHelpYour Privacy ChoicesYour Privacy Choices

Powered by the LCTM platform

LC Logo
Apple App Store IconGoogle Play Store Icon
LC logo

595 Market Street, Suite 200

San Francisco, California 94105

If you have special access needs and are having problems accessing this website, please call 888-596-3157.
Equal Housing Lender
accredited-business
verify-sign

  1. Between April 1, 2023 and June 30, 2023, Personal Loans issued by LendingClub Bank were approved within 2 hours, on average. 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. 

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.

© 2024 LendingClub Bank. All rights reserved.