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We welcome LendingClub, a juggernaut in the online lending industry, in our business lenders ranking. Furthermore, we welcome this company as our FIRST choice for business loans together with OnDeck due to its well known business trajectory and ethics as well as its high approval rate for small business loans. As proof of LendingClub success, its stocks are trading successfully in Wall Street under LC even though the company is relatively young since it was funded in 2007.

What does LendingClub offer? This lender’s brand awareness great success is supported by its low interest rates from 5.99% and business loans and lines of credit for small businesses in all United States up to $300,000. Lending Club big advantage as a lender – besides the above mentioned – is its business model using peer-to-peer lending (like Prosper). It means that all business loan requests are canned, filed and listed right away (if successfully pre-qualified) in its internal network where hundreds or even thousands of private investors can fund the requests. By private investors, I don’t mean banks or financial entities, but real people like you and me. Because of that, LendingClub has loaned more than $11 billion as of today.

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Lending Club Availability

LendingClub offers its online business lending services throughout all the United States with the exception of Puerto Rico and Virgin Islands.

LendingClub Small Business Loans Services

Besides offering lines of credit for small businesses throughout United States, Lending Club offers fixed rates business loans with friendly terms from 1 up to 5 years, loan amounts up to $300,000 and low fixed interest rates starting at 5.99% for those who meet the criteria. Their loan origination fees are the lowest in the market starting at 0.99% which has been well received for most consumers. Once you apply for a business loan online through LendingClub main website, you will receive quotes and offers in literally less than 5 minutes.

  • Small business loans
  • Loan amounts up to $300,000
  • Lines of credit up to $100,000
  • Terms from 1 to 5 years
  • No pre-payment penalties
  • Pre-approval in less than 5 minutes
  • Interest rates starting at 5.99%
  • Funds deposited in a few days

To apply for a loan through the platform, consider the following:

  • At least 2 years in business
  • Annual gross sales of $75,000
  • Fair or better credit score
  • No recent bankruptcies or tax liens
  • Tax ID, social security and ID
  • Own at least 20% of the business
  • 4 months of bank statements
  • 4 months of credit card processor statements (if applicable)

LendingClub business loans terms are very consumer friendly. Depending of the loan offered, the terms run from 1 to 5 years (way higher than the industry average). Furthermore, Lending Club offers low annual fixed interest rates starting at 5.99% without pre-payment penalties or hidden fees.
LendingClub customer service team is second to none. Their mission is to provide all their consumers with a personal advisor who will assist them with all their questions and requirements. You can access LendingClub customer service by phone or chat. Their headquarters are located in: 71 Stevenson Street, Suite 300 San Francisco, CA 94105, USA

LendingClub has been proudly advertising that 95% of all their customers are willing to recommend Lending Club lending services to a friend or a family member. The statistics above are a result of internal surveys made among LendingClub consumers when they are in the middle and after the loan process. Furthermore, this lending company has an A+ accreditation in BBB (Better Business Bureau) which is a visible sign of their customer-friendly approach and their real concern to solve any issues with unsatisfied consumers.

LendingClub is our favorite. It offers pre-approval in 5 minutes with business loans up to $300,000, terms from 1 to 5 years and low fixed rates from 5.99%
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A Renown Brand

Pre-approval in 5 minutes with business loans up to $300,000, terms from 1 to 5 years and low fixed rates from 5.99%

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Pre-approval in 5 minutes with business loans up to $300,000, terms from 1 to 5 years and low fixed rates from 5.99%

Up to $300,000

Editor's choice 2016

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