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How and when do I receive the money?

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Once your loan application's been approved and funded, your loan proceeds will be electronically transferred to the bank account you've provided. Depending on your bank, this can take several days. The approval and funding process is typically around 7 days (although it can take a bit longer if you're submitting additional documentation to us). You can always view the status of your application on the account summary page.

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Financial Innovation

Borrowers hurt by the credit squeeze and investors looking to boost their returns are increasingly turning to the same place: peer-to-peer lending.

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Andy

"The interest rate on my loan through Lending Club is a third less than what I was paying before, and it’s very satisfying to know that there is an end date for being done with my debt."