Why Wasn't My Loan Funded? (2024)

Credit scores are three-digit numbers ranging from 350 to 850 calculated from credit bureau-reported data that represent a snapshot of your credit health and history. A high credit score is an indicator to potential creditors there’s a higher probability you’ll repay your debt.

Using fixed, low-interest credit to refinance variable, high-interest credit card balances can be a smart financial move. This practice, known as debt consolidation, can simplify your monthly finances, make your payments more predictable, and save you money on the cost of borrowing.

An unsecured personal loan is a loan that doesn't require you to put up any form of collateral—like a car, personal savings, or house. Unsecured loans often provide quicker access to cash than secured loans. However, unsecured loans are considered greater risk by lenders, and may have higher interest rates or lower borrowing limits.

It's common to see the buy now, pay later (BNPL) payment option at online checkout — but should you use it? Learn what BNPL is, how it works, and alternatives for borrowing money.

There are many reasons to consider a joint personal loan, including sharing the payment obligations, securing better financing terms, and improving your odds of approval. So, if your credit history is holding you back from getting favorable interest rates and terms on your own, having a co-borrower could help you qualify for apersonal loan.

From groceries and diapers to Halloween costumes for pets, nearly 60% of American consumers prefer to shop online for everyday items that make life more convenient, comfortable, and enjoyable. And with rising prices showing no signs of stopping anytime soon, we’re pleased to introduce StackitTM from LendingClub Bank—a new browser extension that automatically finds and rewards eligible members with coupons and cash back for extra savings at more than 15,000 favorite online retailers.

Even in today’s low-yield, high-inflation environment, it’s essential to keep a certain amount of money in an easy-to-access checking or savings account for things like daily household and emergency expenses, or to meet short-term financial goals.

Since 2007, LendingClub has been on a mission to deliver a world-class experience to all our members. This month we took a moment to reflect on the more than four millionmembers who have chosen LendingClub as their partner to help them reach their financial goals.

In March 2022, we hosted our first quarterly webinar where we celebrated our one-year anniversary as a digital marketplace bank.

LendingClub completed the acquisition of Radius Bank in February 2021. At that time, in addition to the direct-to-consumerdepositbusiness, we inherited a fintech partner program,andseveral lendingbusinesses.As we reach the one-year anniversary of the acquisition, and in conjunction with the conclusion of a strategic review of our business operations, we have made the decision to discontinuecertain businesses that don’t fit our mission.

Taking out a loan can be a big decision, and the Truth in Lending disclosure is a standard form designed to help you understand your loan's specific terms, like how much you've borrowed, how many payments you'll make, and what your annual percentage rate (APR) is.

We offer several ways for you to make your monthly auto loan payment, so you can choose the method that works best for you. A statement will be mailed to you every month that shows the payment amount and due date.

LendingClub provides a year-endstatementthat summarizes your account activity, including how much interest you’ve earned and information regarding Notes tied to loans that have beencharged off.

Once you’ve submitted your application, we’ll try to confirm your information on our own. Sometimes, you may need to submit a few documents to confirm your identity, income, or vehicle ownership.

Once you submit your Auto Refinance application, we may ask you for additional paperwork to verify your information.

{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.

{noun} The total annual cost to borrow money, including fees, expressed as a percentage.

{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.

A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.

{noun} An interest rate that remains the same for a set time, usually for the life of the loan.