6 sites like LendingClub

LendingClub was one of the best-known peer-to-peer (P2P) platforms out there. But it stopped offering peer-funded loans when it became a bank. As it stands, LendingClub may not be the best option for an online loan, especially one that requires a 600 credit score.

Its APRs range is slightly higher than average, ranging from 9.57% to 35.99%, and it charges an origination fee from 3% to 6%. Its track record isn’t squeaky clean either — LendingClub has run into trouble with regulators in the past. If you’re not sold, consider these sites like LendingClub instead.

6 top sites like LendingClub

• For peer-funded loans: Prosper
• For new borrowers: Upstart
• For young professionals: SoFi
• For fair credit: Upgrade
• For low rates: LightStream
• For bad credit: OneMain Financial

Alternative for peer-funded loans

Prosper personal loans

3.4 / 5 ★★★★★

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• Overview
• Pros & Cons
• More Details

Founded just after LendingClub, Prosper is a peer-to-peer platform that offers personal loans. Unlike LendingClub, it's still a P2P marketplace, which has historically charged slightly lower interest rates and origination fees than you'll find at LendingClub. But it could take a day longer to get your funds. It also doesn't offer loans under $2,000.

• Not available in: Iowa, North Dakota, West Virginia

Pros

• P2P lender
• Lower starting APR than LendingClub
• Accepts fair credit
• Works with DTI as high as 50%

Cons

• Turnaround as long as five business days
• Higher starting origination fee than direct providers

Loan amount	$2,000 to $50,000
APR	6.99% to 35.99%
Interest Rate Type	Fixed
Min. credit score	640
Turnaround Time	Up to 14 business days
Maximum Loan Term	5 years
Minimum Loan Term	3 years

APR	6.99% to 35.99%
Min. credit score	640
Loan amount	$2,000 to $50,000

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Alternative for new borrowers

Upstart personal loans

4.2 / 5 ★★★★★

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• Overview
• Pros & Cons
• More Details

Upstart is a direct lender that got its start as peer-to-peer platform. Aside from offering lower interest rates than LendingClub, it also may be easier to qualify for if you've just started building your credit. This lender looks at your education and career in addition to your credit score. But its origination fees can be some of the highest out there.

• Not available in: West Virginia

Pros

• Lower starting APR than LendingClub
• Accepts 580 or 600 credit scores
• Get funds in one to three days

Cons

• Origination fee as high as 12%
• APR is still higher than average

Loan amount	$1,000 to $50,000
APR	6.40% to 35.99%
Interest Rate Type	Fixed
Min. credit score	300
Turnaround Time	As soon as one business day
Maximum Loan Term	5 years
Minimum Loan Term	3 years

APR	6.40% to 35.99%
Min. credit score	300
Loan amount	$1,000 to $50,000

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Alternative for young professionals

SoFi personal loans

4.4 / 5 ★★★★★

• Overview
• Pros & Cons
• More Details

This direct lender also started as a P2P platform — and is now in the process of becoming a bank. In addition to offering low-cost loans, it offers a wide range of perks for borrowers, like free financial advice and career coaching. But skip this one if you struggled to meet LendingClub's requirements — it's even harder to qualify.

• Available in all states

Pros

• Member perks like career coaching
• APRs from 8.99% to 25.81%

Cons

• Requires 680 credit score or higher
• No loans under $5,000
• Can take 30 days to get your funds

Loan amount	$5,000 to $100,000
APR	8.99% to 25.81%
Interest Rate Type	Fixed
Min. credit score	680
Turnaround Time	Up to 3 business days
Maximum Loan Term	7 years
Minimum Loan Term	2 years

APR	8.99% to 25.81%
Min. credit score	680
Loan amount	$5,000 to $100,000

Alternative for fair credit

Upgrade personal loans

4 / 5 ★★★★★

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• Overview
• Pros & Cons
• More Details

Upgrade is an online direct lender that prioritizes your cash flow over your credit score. It offers slightly higher loans than LendingClub, with a slightly lower starting interest rate — 8.49%. But its origination fees are higher than even some P2P lenders charge. And it can take as long as five days to get your funds.

• Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia

Partner terms and conditions

Personal loans made through Upgrade feature APRs of 5.94%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/.

Pros

• Accepts 620 credit score
• Loans up to $50,000
• APR starts at 8.49%

Cons

• Origination fee up to 9.99%
• Up to five-day turnaround
• Must have $1,000 left after monthly expenses

Loan amount	$1,000 to $50,000
APR	8.49% to 35.99%
Interest Rate Type	Fixed
Min. credit score	620
Turnaround Time	1 to 4 business days
Maximum Loan Term	7 years
Minimum Loan Term	2 years

APR	8.49% to 35.99%
Min. credit score	620
Loan amount	$1,000 to $50,000

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Alternative for low rates

LightStream personal loans

4.8 / 5 ★★★★★

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• Overview
• Pros & Cons
• More Details

LightStream offers some of the lowest rates on personal loans available online. There are also no required fees, including late fees and prepayment penalties. However, it's one of the most difficult loans to qualify for — and you can't check your rate without affecting your credit. Save this one for when you've already prequalified for other similar options, like SoFi, and have excellent credit.

• Available in all states

Partner terms and conditions

*Payment example: Monthly payments for a $10,000 loan at 5.95% APR with a term of 3 years would result in 36 monthly payments of $303.99.

Truist Bank is an Equal Housing Lender. © 2020 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Pros

• P2P lender
• Lower starting APR than LendingClub
• Accepts fair credit
• Works with DTI as high as 50%

Cons

• Turnaround as long as five business days
• Higher starting origination fee than direct providers

Loan amount	$5,000 to $100,000
APR	7.49% to 25.49%
Interest Rate Type	Fixed
Min. credit score	Good to excellent credit
Turnaround Time	As soon as same day
Maximum Loan Term	12 years
Minimum Loan Term	2 years

APR	7.49% to 25.49%
Min. credit score	Good to excellent credit
Loan amount	$5,000 to $100,000

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Alternative for bad credit

OneMain Financial personal loans

3.4 / 5 ★★★★★

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• Overview
• Pros & Cons
• More Details

OneMain Financial may have higher fees than LendingClub, but it may be a good alternative if your credit score is getting in the way of your borrowing opportunities. OneMain Financial's credit score requirement varies, though it generally accepts poor credit. It also offers both secured and unsecured loans, so you can back your loan with collateral for a lower rate. While it has more flexibility in credit score requirements, APRs are between 18% to 35.99% and an origination fee of up to 10%.

If you can't qualify for a loan elsewhere, OneMain Financial could be the solution, but check other lenders first because the fees and interest can be steep.

• Not available in: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont

Partner terms and conditions

<sub>* OneMain Disclosures:

Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.

Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.

Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.</sub>

Pros

• Poor and fair credit considered
• Same-day turnaround available
• Coapplicants accepted
• Can return funds within seven days

Cons

• High APRs
• High origination fee

Loan amount	$1,500 to $20,000
APR	18% to 35.99%
Interest Rate Type	Fixed
Min. credit score	Varies
Turnaround Time	1 to 2 business days
Maximum Loan Term	5 years
Minimum Loan Term	2 years

APR	18% to 35.99%
Min. credit score	Varies
Loan amount	$1,500 to $20,000

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Name	Product	Filter Values	APR	Min. credit score	Loan amount
Best Egg personal loans Finder Rating: 3.8 / 5: ★★★★★ Best Egg personal loans Finder Rating: 3.8 / 5: ★★★★★			8.99% to 35.99%	640	$2,000 to $50,000	Fast and easy personal loan application process. See options first without affecting your credit score.	Go to site View details	Compare	loading Fetching your data...
LightStream personal loans Finder Rating: 4.8 / 5: ★★★★★ LightStream personal loans Finder Rating: 4.8 / 5: ★★★★★			7.49% to 25.49%	Good to excellent credit	$5,000 to $100,000	Borrow up to $100,000 with low rates and no fees.	Go to site View details	Compare	loading Fetching your data...
PenFed Credit Union personal loans Finder Rating: 3.6 / 5: ★★★★★ PenFed Credit Union personal loans Finder Rating: 3.6 / 5: ★★★★★			7.99% to 17.99%	580	$600 to $50,000	With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.	Go to site View details	Compare	loading Fetching your data...
Upstart personal loans Finder Rating: 4.2 / 5: ★★★★★ Upstart personal loans Finder Rating: 4.2 / 5: ★★★★★			6.40% to 35.99%	300	$1,000 to $50,000	This service looks beyond your credit score to get you a competitive-rate personal loan.	Go to site View details	Compare	loading Fetching your data...
Credible personal loans Finder Rating: 4.3 / 5: ★★★★★ Credible personal loans Finder Rating: 4.3 / 5: ★★★★★			4.60% to 35.99%	Fair to excellent credit	$600 to $100,000	Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.	Go to site View details	Compare	loading Fetching your data...
First Premier Lending Not rated yet First Premier Lending Not rated yet			5.99% to 35.99%	All credit types	$100 to $20,000	Short-Term Loans to Fit Your Needs	Go to site View details	Compare	loading Fetching your data...

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How does LendingClub compare?

LendingClub may be best suited for a borrower with a less-than-perfect credit history — its minimum credit score requirement is 600. It offers a minimum loan amount of $1,000 and caps out at $40,000. The origination fee can be from 3% to 6%, which isn’t the highest or the lowest we’ve seen.

LendingClub is available in all 50 states — a major plus — but the Federal Trade Commission (FTC) sued LendingClub in 2018 for false promises. Overall, you may be better off with one of the alternatives we’ve listed for reputation, rates and fees. You can read our LendingClub review to learn more about how it works or weigh the main pros and cons.

See how other top providers compare to different lenders by checking out our A-to-Z directory.