With LendingClub, you can borrow as low as $1,000 to cover most situations you wantвЂ”car repairs, debt consolidating, and more. For those who have less-than-perfect credit and need to shop among lenders, LendingClub will probably be worth a look. However, itвЂ™s important to know that LendingClub does not currently offer loans to residents of Iowa or U.S. territories. Money typically comes in 2вЂ“4 days, but it can take longer in some circumstances.
LendingClub charges an origination fee that ranges from 3% to 6% of the loan amount. That fee comes out of the total loan balance and reduces the quantity that goes into your bank account, so make sure to borrow enough to cover the fee but still have enough for whatever you need the loan for. Rates start around 8.05% to 35.89% APR. Among the perks the company offers is delaying payments with no additional interest charge if you’ve been impacted by a disaster that is natural.