Lending Club Launches Business Loans

December 11, 2019

Today, Lending Club announced the launch of business loans to meet the needs of America’s small businesses, a topic that Lending Club CEO Renaud Laplanche discussed with members of the U.S. House of Representatives in December 2013. As our latest infographic shows, small businesses need access to capital to continue to be a driving force and foundation of the US economy.

This is a huge milestone for us. For the past seven years, Lending Club has been working hard to grow our first product. Today, we launched the first in what will be a series of new products, designed to address a variety of funding and credit needs in our quest to always be more useful to more people, and over time transform the banking industry to make it more transparent, cost efficient and customer friendly. With this new product, small business owners will have access to customer-friendly, transparent and affordable financing options similar to those Lending Club has been providing on the consumer side since 2007.

Lending Club business loans will range from $15,000 to $100,000 initially, with plans to increase to $300,000 in the future. The loans carry affordable fixed interest rates starting at 5.9% with terms of one to five years, no hidden fees and no prepayment penalties. The application process is simple and available online.

LendingClub_SmallBusiness_Infographic

How much do you need?

$
Enter up to $40,000

To Read Next

4 min read

10 Ways to Get Your Finances in Order After the Holidays

A recent LendingClub member survey revealed more than half of Americans (55%) will probably take debt accumulated over the…

READ MORE
6 min read

Financial Self-Care: Could It Transform Your Relationship with Money?

It goes without saying that wrangling the demands and priorities of our everyday, modern lives can be highly stressful.…

READ MORE
3 min read

Save Money on Your Health and Wellness: 10 Simple Tips

Every year, Americans spend over $28.6 billion on health club memberships, $30 billion on dietary supplements and more than…

READ MORE