Lending Club Small Business Loans Review

Lending Club is a reliable lending company that has been engaged in business advancement since 2007.

From the very beginning of its existence, the main goal was to connect the person requiring a loan with a possible investor.

However, with the course of time the focus shifted, and you will be able to trace it in this Lending Club small business loans review.

About Lending Club

Currently, being a well-known and reputable lender, Lending Club strives to create the most preferable crediting conditions, especially for the owners and representatives of small businesses. Such loans are more affordable and accessible, compared to other companies.

Lending Club Small Business Loans Review

Business credits are available in diverse sums, varying from $15,000 to $100,000, while the terms also range from 1 to 4 years.

The service allows receiving business funding just in a few days after the application.

Despite a quick process, you’ll be deducted an origination fee, and it’s the only fee required.

A number of other payments are applied in case of emergency services necessary or some other credit violations.

Other possible fees include late payments, fees for insufficient funds and processing fees.

You will have to pay extra cost in case you’ve selected to change the payment method from the direct bank account debit to the paper check.

Nevertheless, you will not be charged with any payment penalty if you pay off your loan earlier.

Requirements One Should Meet to Receive a Loan

Small business loans offered by Lending Club are definitely beneficial, though to get them one should undergo an application procedure and meet definite requirements.

First of all, it is inevitable to fill in a simple online form.

After this, based on the information mentioned, such as business and personal credit history, duration of business existence, financial strength of your company, length of the loan and a range of other factors, Lending Club will give you a definite interest rate.

The company is surely more interested in borrowers with a perfect credit record, and they should possess the credit score bigger than 660 to receive a loan here.

However, there is also an opportunity for people with bad credit history to be approved for a loan, but the requirements will be a bit different and the process – a little tedious. Besides, an interest rate will be higher in this case.

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Benefits of Small Business Loans with Lending Club

Consumers with both good and bad credit history will see definite advantages taking a loan in Lending Club, though the former will undoubtedly like the conditions of the credit more.

Being an unsecured small business loan it does not require collateral.

Another advantage is the chance to communicate and cooperate with a client advisor directly, thus, deal with all the issues at once.

Hopefully, after reading this Lending Club small business loans review you will get an additional option to consider.

4 Comments
  1. Anna-Maria says

    Taking a loan by filling in an online form and getting the money the same day – all this sounded like a fairy tale. However, when applying for Lending Club small business loans became a necessity, the whole procedure turned out to be quite fast and beneficial. No lines, no worries. I got the funds needed for my business almost instantly and don’t regret my choice.

  2. Sofia says

    I was among those who applied for Lending Club loans for bad credit. Repaying a loan was really hard for me, so bad credit became something that followed me every day of my life for the past few years. However, instead of paying big interest in other banks and private lenders, I decided to turn to Lending Club, which terms and conditions suited me greatly. And I’m really happy with what I received.

  3. Evan says

    I was very satisfied with the service at Lending Club. Not only was their staff very friendly and eager to help, but they also seemed to be more professional than staff in many other similar companies and patiently answered all my questions. And I had many. As for the loan terms, they were good and fair enough, and I had no problems with repaying my loan.

  4. Evan says

    I was very satisfied with the service at Lending Club. Not only was their staff very friendly and eager to help, but they also seemed to be more professional than the staff in many other similar companies and patiently answered all my questions. And I had many. As for loan terms, they were good and fair enough, and I had no problems with repaying my loan.

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