LendingClub Business Loans Review 2021


LendingClub serves small businesses, offering fixed-rate term loans of up to $300,000 with terms of up to five years.

  • Terms of up to five years are available.
  • Online prequalification is available.
  • There are no prepayment penalties.

  • Startup businesses do not qualify.
  • A lien is required for loans greater than $100,000.

Term loans are available from LendingClub.

Loan amounts range from $5,000 to $300,000, with loan terms of one year to five years. There is an origination fee of 1.99 to 8.99 percent, but there are no prepayment penalties.

LendingClub requires a minimum FICO credit score of 600. Businesses must be established for at least one year, with a minimum of $50,000 in annual revenue. A UCC-1 lien is required for loans greater than $100,000. Prequalification is available, so you can verify whether you’re likely to be approved before you submit a formal application.

LendingClub can approve loans in as fast as a few business days has an estimated one- to two-business day disbursement time.

LendingClub has a B rating with the Better Business Bureau a poor rating with Trustpilot.

  • Businesses established at least one year, with a minimum of $50,000 in annual revenue.
  • Businesses that want to prequalify for a loan.
  • Businesses that want up to five years to pay off loans.



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