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The reviews mentioned in this article will cover the advantages and disadvantages of using We also include reviews of Lending Club, as one is a landing page and portal to the other.

For people who need a loan, going through banks can seem daunting and time-consuming.

Online lending services such as Lending Club's and competitor Prosper Marketplace are gaining popularity, especially for lenders who can offer larger loans for lower interest rates compared to high-interest, low-dollar loans.

Lending Club Reviews: What is Review is the landing page and portal for Lending Club, an online peer-to-peer lending network that connects borrowers with investors.

They offer a lower general fixed rate than payday loans and offer larger amounts up to $40,000 to qualified applicants.

Despite the advertised annual percentage rate of 5.99% (which review found to be the lowest), you could actually pay as low as 35.89% APR.

The loans are underwritten by WebBank (a Utah-chartered industrial bank, Member FDIC), which operates peer-to-peer loans. Your rate will depend on your loan amount, credit score, loan term, credit utilization and history.

Also noted in this Myinstantoffer review, they make no interest rate or approval guarantees.

In addition to the annual interest rate, you will also pay the loan commission. According to other Prosper Market reviews, the competition may have lower loan fees (sometimes called loan origination fees) if you have a high credit score.

However, other reviews agree that Lending Club's portal still offers a lower APR.

In our review of, we found that the most popular loans on are used for:


Pay off high interest credit cards

home improvement

pool or rest

buying a car

Advance for buying a house

Pay for education

medical expenses

Other great buys

There are a number of reasons why the loan is in the future. If you need funds between $1,000 and $40,000, you'd better consider Club.

See also: NetCredit Reviews - Get all the facts before using

Lending Club Reviews: Is Club Right For You?

If you are looking for lenders, it is important to evaluate the right lenders for you.

In our reviews of, we found that their process with Lending Club makes legitimate. Most of the points covered below are clearly outlined throughout the process.

However, you may want to do your own reviews on Lending Club to make sure you get the best loan for your unique needs.

Here are some things to look for as you weigh the pros and cons of lenders, such as Club ratings and Prosper Marketplace reviews: Loan Terms

Be sure to clearly disclose the terms and conditions of the loan, such as borrowing levels, repayment term options and payment methods.

As part of the loan terms, list the dollar amount of any listed fees plus the annual percentage rate (APR) for the loans, which all lenders must disclose. Reviews

Lending Club reviews processing time

Find the processing time for each specific lender. If you need funds within 24 hours, you'll need to identify lenders through an easy application and approval process.

If you don't have time with Lending Club for loans, you'll also want to make sure there's a quick turnaround to get the money you need once it's approved.

Compare Lending Club Reviews

While you're comparing reviews, Prosper Market reviews, and other online lender reviews, be sure to check out all of our Lending Club reviews.

Check out all the reviews, consumer ratings and approved sites like the Better Business Bureau for each lender to help you make an informed decision.

Don't Miss: Avant Reviews - Get all the facts before you get an Avant loan

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Lending Club Reviews: What does it take to qualify for a Lending Club loan?