LendingClub Platform
Marketplace lending platform offering small business loans up to $250K through partner network.
Overview
LendingClub Platform provides small business loans ranging from $5,000 to $250,000 with fixed monthly payments and terms of 1 to 3 years. The platform operates through a partnership with Accion Opportunity Fund, which facilitates access to a network of lenders and loan options tailored for various business purposes including debt consolidation, inventory purchase, equipment purchase, and working capital.
The application process is completed online, allowing businesses to apply in minutes, select loan offers, confirm details, and receive funds directly deposited into their bank accounts. LendingClub Platform offers dedicated client advisors to guide borrowers through the loan process and supports English and Spanish languages. Eligibility criteria include at least 12 months in business, minimum annual sales of $50,000, U.S. based company, and ownership of at least 20% of the business.
Key Features
- + Loans from $5K to $250K
- + Fixed monthly payments
- + 1-3 year loan terms
- + No prepayment penalties
- + Online application and loan management
- + Dedicated client advisor support
- + Multi-purpose business loan options
- + Bilingual customer support (English and Spanish)