What customers are saying. How it works We're not a bank. LendingClub LendingClub screens borrowers, facilitates the transaction, and services the loans. Your loan is automatically deposited into your bank account. No, checking your rate won't affect your credit score. Headquartered in San Francisco, we operate fully online without any branch locations, which allows us to keep operating costs low and focus more resources on our customers. Will checking my rate affect my credit score?
Auto Refinancing Save money on your existing auto loan. Patient Solutions Work with your doctor or dentist to finance your care. Individuals Get started with an investment or retirement account. Personal Loans Borrow up to $40, and get a low, fixed rate. Business Loans Get $5,–$, for your business at a low, fixed rate. Auto Refinancing Save money on your existing auto loan. Patient Solutions Work with your doctor or dentist to finance your care. Individuals Get started with an investment or retirement account/5(K). The more money you can afford to pay as a down payment up front, the more money you will save on interest charges over the life of your loan. Plus, if you can afford a large enough down payment, you may be able to waive mortgage insurance, which could save you thousands more over the life of your loan.
Checking your rate generates a soft credit inquiry, which is visible only to you. A hard credit inquiry that may affect your credit score only appears when your loan is issued. Investors should review the risks and uncertainties described in the prospectus carefully prior to investing. Historical performance is not a guarantee of future results and investors may lose some or all of the principal invested.
LendingClub does not provide investment, tax, or legal advice. While returns are dependent upon borrower payments of principal and interest, Note holders do not have a security interest in the corresponding loans or loan proceeds. Notes are unsecured obligations of LendingClub. Returns may be impacted by, among other things, the number and attributes of Notes owned, as well as macroeconomic and other conditions.
Respond to a mail offer. It won't impact your credit score. What's the money for? How it works We're not a bank. Investors In exchange for competitive returns, investors purchase Notes, which correspond to fractions of loans. LendingClub LendingClub screens borrowers, facilitates the transaction, and services the loans. Won't affect your credit score. Borrow up to 40, How can we help? How quickly can I get a loan? The entire process typically takes about 7 days.
In some cases, it may take a little longer, depending on what we need from you. You can complete the entire process from the comfort of your home, or even on your phone! You can keep things moving by checking your To-Do List to make sure we have all the information and documents we need.
Once your loan is approved and backed by investors, your money is automatically deposited directly into your bank account. Depending on your bank, this step can take a few more days. Will checking my rate affect my credit score? No, checking your rate won't affect your credit score. Applying for a loan through LendingClub generates a soft credit inquiry, which we use to understand your creditworthiness. This is visible only to you, not to creditors or other users of your credit report.
What happens after I check my rate? After you check your rate, here's what's next: You'll receive multiple loan offers if you qualify. Each one shows the loan amount, interest rate, APR, monthly payment, and loan term either 36 or 60 months. Complete the application and verify your information. We ask for your Social Security number, as well as information about your income and employment.
If we need any additional documents, we'll let you know in your To-Do List. Then, hold tight while we review your application.
Once your loan is approved and backed by investors, your money will be automatically deposited into your bank account. In some cases, it may take a little longer, particularly if you need to send us additional information or documents. Visit Our Help Center. Business Financing Options Choose the loan that best fits your financing needs.