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Lending Club Reviews

Overall rating:
of 5.0
Rates & Fees:
of 5.0
Customer Service:
of 5.0
Knowledge & Expertise:
of 5.0

About Lending Club

Lending Club is a peer-to-peer lender that matches borrowers and investors. If you have strong credit, you can often get loans from Lending Club that are competitive or lower than you can find through a bank or credit union. Investors choose the credit rating of the borrowers to whom they lend. Higher returns are available for lending to higher risk borrowers. Borrowers who otherwise may be turned down by a traditional lender, may qualify for a loan via Lending Club. Lending Club has an easy to use Web site. Privacy and risk disclosures are clear.

San Francisco, California
Website's Review Rating:
4.5 of 5

Lending Club is a peer-to-peer lender. It was founded in 2007 and at the time of this review ha funded over $1.2 billion of loans. Lending Club matches borrowers with investors. Creditworthy borrowers get loans at competitive rates and investors can make attractive returns. Loans are offered from $1,000 to $35,000. Interest rates for borrowers vary from 6.78% APR to 29.99%. The best APR is available to borrowers with excellent credit. Borrowers pay a one-time processing fee that ranges from 1.11% to 5.00% of the loan amount, depending on the loan term and how Lending Club grades the borrower. Lending Club has complaints, but not out of order relative to their size and scale.


Application process is simple for borrowers and it is easy to get set up as an investor. Web site is easy to use. Loans are available to borrowers who may not be able to get a loan elsewhere. Investors can earn a good rate of return.


High-risk borrowers will pay a high interest rate.

Customer Reviews (4)

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Terrible Service - High Interest Rates

by | February 5, 2016
I tried to find out what "great" rates I would get if I took a loan through this company. The interest rates were almost 2 times what I'm already paying. So why do I want to consolidate and pay a higher rate?? I have unsubscribed from this service

Happy Investor

by | June 5, 2013
I have been investing with Lending Club for about 18 months and am very satisfied with how things are going. The high return I am receiving is great.

Easy to use and good rates

by | May 14, 2013
I am happy with my experience at Lending Club. I found their website easy to use and got my loan processed quickly at a good interest rate.

Good experience

by | January 24, 2013
I like the convenience of the whole Lending Club process being online. My loan fully funded at what I consider a resonable rate.