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LendingClub Business Loans Review | U.S. News

LendingClub serves small companies, providing fixed-rate time period loans of as much as $300,000 with phrases of as much as 5 years.

  • Phrases of as much as 5 years can be found.
  • On-line prequalification is obtainable.
  • There aren’t any prepayment penalties.

  • Startup companies don’t qualify.
  • A lien is required for loans better than $100,000.

Time period loans can be found from LendingClub.

Mortgage quantities vary from $5,000 to $300,000, with mortgage phrases of 1 yr to 5 years. There’s an origination price of 1.99 to eight.99 %, however there aren’t any prepayment penalties.

LendingClub requires a minimal FICO credit score rating of 600. Companies should be established for not less than one yr, with a minimal of $50,000 in annual income. A UCC-1 lien is required for loans better than $100,000. Prequalification is obtainable, so you possibly can confirm whether or not you’re more likely to be authorized earlier than you submit a proper utility.

LendingClub can approve loans in as quick as a couple of enterprise days and has an estimated one- to two-business day disbursement time.

LendingClub has a B ranking with the Higher Enterprise Bureau and a poor ranking with Trustpilot.

  • Companies established not less than one yr, with a minimal of $50,000 in annual income.
  • Companies that wish to prequalify for a mortgage.
  • Companies that need as much as 5 years to repay loans.


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