Happen Bank Review (formerly LendingClub): Legit Personal Loans (2026)
- Max. Loan Amount
- $60,000
- APR
- 5.96% APR to 35.96%
- Min. credit score
- 600
Our verdict
Loans up to $60,000 for a variety of credit types — but you’ll have to pay an origination fee.
Happen Bank is an award-winning lender that offers loans from $1,000 to $60,000. It doesn’t state a minimum credit score requirement, but it appears to consider a range of credit scores and accepts joint applicants. It also has a mobile banking app that allows you to make payments or change your due date, among other features. However, it charges an origination fee between 0% to 8%, which it deducts from your loan amount. Some competitors offer lower rates than Happen Bank and don’t charge origination fees.
Best for: Borrowers with fair credit who don’t qualify for loans with lower rates and no origination fees.
Pros
-
Smaller loans available from $1,000
-
Option to pay creditors directly
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Co-borrower option available
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Origination fee can be 0% for well-qualified borrowers
Cons
-
Origination fee of up to 8% applies for many borrowers
-
Maximum loan $60,000
Is Happen Bank legit?
Happen Bank is a legitimate company that launched in 2007 and went public in 2014. It is listed on the New York Stock Exchange (NYSE) under the stock symbol LC. It won numerous awards, including Best Online Bank of 2024 by GOBankingRates and one of America’s Most Loved Workplaces in 2022 by Newsweek. It also has an A+ rating on the Better Business Bureau (BBB) and has been accredited since 2008.
Happen Bank uses safeguards to protect its customers’ personal and financial information. It follows security measures that comply with federal law and aims to meet or exceed industry standards for financial institutions. Its website is secured and encrypted with Secure Sockets Layer/Transport Layer Security (SSL/TLS). It’s also FDIC-insured and registered with the Securities and Exchange Commission (SEC).
In 2018, the Federal Trade Commission (FTC) filed a complaint against Happen Bank over its “no hidden fee” promise, claiming that it had charged hidden upfront fees on several of its loans. Happen Bank denied any wrongdoing and maintained that its website stated that loans come with origination fees. However, it still agreed to pay $18 million to settle the charges.
What makes Happen Bank shine?
Happen Bank is a solid choice for borrowers who struggle to qualify for a personal loan elsewhere due to a lower credit score or a lack of credit history. While it doesn’t specify a minimum credit score requirement, it appears to consider people with lower credit scores. It also offers joint loans, making it easier for all types of borrowers to potentially qualify for a loan.
Additionally, Happen Bank offers to pay up to 12 of your creditors directly if you’re taking out a balance transfer loan, which saves you the time and hassle of doing it yourself. There’s also no application fee, and you can move your payment due date at least once — earlier or later by 15 days — making it easier to choose a date that makes more sense.
Borrowers may also appreciate the wide variety of ways that Happen Bank accepts loan payments. The easiest and most convenient way to never make a late payment is to set up its automatic payments (autopay) feature. But if that doesn’t work for you — no problem. You can also pay by phone, check, debit card, Google Pay, Apple Pay or wire transfer. You can even pay with cash at participating retail locations.
Where Happen Bank falls short
One of the main drawbacks of Happen Bank is the practice of charging origination fees, which can add anywhere from 0% to 8% to the loan’s cost. Plus, some competitors don’t charge origination fees, so borrowers — particularly those with good credit — might be better off searching for loans like Happen Bank that don’t add these fees.
Happen Bank’s interest rates are also a tad high, comparatively speaking — although vastly better than payday loans or other high-interest lending — with current rates ranging from 5.96% APR to 35.96%. For comparison, Lightstream, another personal loan lender like Happen Bank, has rates that start at only 6.99% and cap out at 25.99% — significantly better than Happen Bank’s at either end of the spectrum.
Happen Bank loan details
| Minimum credit score/credit range | Not stated (600 according to outside sources) |
| APR | 5.96% APR to 35.96% |
| Loan amounts | $1,000 to $60,000 |
| Terms | 24–72 months |
| Approval turnaround | As little as 24 hours after approval |
| Availability | Available in all states |
| Fees |
|
| Other fees | Not stated |
Happen Bank contact info
| Phone number | 888-596-3157 |
| Customer service hours | 5 a.m. to 5 p.m. PT, weekdays 8 a.m. to 5 p.m. PT, Saturday |
| support@happen.com | |
| X (formerly Twitter) | @HappenBank |
| @HappenBank |
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How to qualify for Happen Bank
You’ll need to meet the following requirements to qualify for Happen Bank personal loans:
- Be at least 18 years old
- Be a US citizen or current resident
- Have a verifiable bank account
You may also need to provide proof of income and identity. Additional documents may include business tax returns, utility bills, lease agreements or others, depending on your situation.
How to apply
Happen Bank offers prequalification with a soft credit check and has no application fee. To apply, you can head to Happen Bank’s site to start the process:
- Prequalify online.
- Review your offers if you’re preapproved.
- Select one, then formally apply with a hard credit check.
- Finalize the application and accept the loan terms.
- Follow the repayment plan.
Once you receive your finalized loan terms, Happen Bank typically deposits the funds into your account within one to two days. It could be longer, depending on how much information needs to be verified.
Overall, the application and funding process could possibly take up to a week or more from start to finish.
How Happen Bank compares to other lenders
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How we picked theseWhat is the Finder Score?
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
Happen Bank reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 4.06 out of 5 stars, based on 605 customer reviews |
| Trustpilot Score | 4.7 out of 5 stars, based on 14,300 customer reviews. |
| Customer reviews verified as of | 12 August 2026 |
Happen Bank has high marks on Trustpilot. Satisfied customers praise the easy application process, quick response time and speed of funding. But some borrowers said the process wasn’t as fast as they’d hoped, and in some cases, it took weeks to receive their loan proceeds. Others expressed dismay that Happen Bank charged an origination fee, which was deducted from their loan amount.
Many reviewers on the BBB commended the fast approval, quick funding and friendly and helpful customer service representatives. However, Happen Bank’s negative reviews included quite a few billing issues and complaints about unhelpful customer service reps over hardship needs.
There were also quite a few “complaints” about Happen Bank that turned out to be the result of various scams, where imposters pretended to be Happen Bank and asked potential customers for sensitive details or upfront fees. Happen Bank responded to each of these reviewers to inform them they were victims of a scam, with detailed information about what their next steps should be and how to avoid this type of fraud going forward.
What do people on Reddit say?
People on Reddit give almost all positive reviews of the loan process, although a few complain about the origination fees and interest rates that can sometimes be as high as credit cards.
“Some Redditors also mention an old ‘LendingClub scam’ from before the company was renamed to Happen Bank, in which fraudsters posed as LendingClub and asked for upfront fees — something the lender never does. Happen Bank has since issued warnings to help potential borrowers spot this type of fraud.
Happen Bank business loans
Happen Bank is also a preferred Small Business Administration (SBA) lender offering SBA 7(a) and 504 loans and SBA Express lines of credit. SBA loans start at $400,000 and can be used to cover almost any business expense, such as commercial real estate purchases, equipment financing or working capital loans.
In addition, Happen Bank offers small business loans through its funding partner, Accion Opportunity Fund. Loans range from $5,000 to $250,000 with terms of one to five years.
Frequently asked questions
Your reviews
Bethany Finder
Banking editor
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Jhezelyn Finder
November 14, 2018
Hello Lori,
Thank you for your comment.
If you want to refinance your current loan with LendingClub, you may need to reach them directly so they can let you know if you’re eligible to refinance. They’ll also update your income details.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
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Elvariste
April 10, 2018
Hi, there! As I’m a nonresident student, by the way, I’m living outside of US, after all I don’t work right now, for I don’t find job. can I find loans or grants to come study abroad and pay after? I’m looking forward to hearing you,soon. thanks!
Joshua Finder
April 10, 2018
Hi Elvariste,
Thanks for getting in touch with finder.
The first thing you need to do is find the school you want to enroll in. After that, you can then ask the school whether they know any student loan or financial institution that can help with your situation.
Moreover, it is worth noting that if you are going to apply for a student loan and you are a non-US resident, generally, a co-signer is required for most international student loan programs.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua
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Mildred
December 18, 2017
You asked for a birthday, is there an age limit in applying for a personal loan?
Harold Finder
December 19, 2017
Hi Mildred,
Thank you for your inquiry.
Generally, for LendingClub personal loan they require that the applicant must be at least 18 years old. Should you need to know more about the requirements and eligibility criteria for this loan. You may need to review the details provided above.
I hope this information has helped.
Cheers,
Harold
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Delene
August 28, 2017
How do I apply with my husband
Danielle
August 28, 2017
Hi Delene,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
To apply for a personal loan with Lending Club, you’ll need to meet general eligibility requirements.
– You must be a US citizen, a permanent resident or in the US on a valid long-term visa.
– You must be at least 18 years old.
– You must have a valid bank account.
You’ll need to gather the following information before applying:
– Your name, contact information and date of birth.
– How much you want to borrow and the purpose of the loan.
– Your credit score range.
– Your annual individual income.
If you are offered a loan, you can watch as investors offer you loans with varying APRs and repayment terms. Once approved, you’ll typically receive the funds directly into your account within seven days. You may proceed by clicking the green “Go to Site” button for more details.
I hope this helps.
Cheers,
Danielle
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Lori
November 12, 2018
I have a personal loan with Lending Club, would like to borrow an additional loan and add my income.