LendingClub vs LendingPoint

The short version

LendingClub, now Happen Bank, and LendingPoint both lend to borrowers with fair-to-good credit, both let you check your rate with a soft pull that leaves your score untouched, and neither publishes a minimum credit score. LendingClub is a national bank; LendingPoint’s loans are funded through banks including FinWise Bank and Coastal Community Bank, or directly by LendingPoint where it holds its own license. Where they diverge most is loan ceiling: LendingClub can lend up to $75,000, more than double LendingPoint’s $36,500 cap.

APRs, as of September 2026, run 5.96% to 35.96% at LendingClub and 7.99% to 35.99% at LendingPoint. LendingClub’s origination fee runs 0% to 8% of the loan amount; LendingPoint’s runs 0% to 10%. Both lenders deduct the fee from your proceeds rather than billing it separately, so the APR already reflects it — compare offers by APR, not by the interest rate printed above it.

Rates and fees

LendingClub’s published range is 5.96% to 35.96% APR, with an origination fee of 0% to 8% of the loan amount deducted from your proceeds. It also charges no fee during a 15-day grace period on a late payment, though the fee that applies after that grace period isn’t published, and there’s no prepayment penalty. LendingPoint’s published range is 7.99% to 35.99% APR, with an origination fee of 0% to 10% also deducted from proceeds, and no prepayment penalty; LendingPoint doesn’t publish a late-fee amount on the pages we checked.

Take a $10,000 loan over 36 months at the midpoint of each lender’s published APR range and fee range, to compare the two on equal footing.

LendingClub, 20.96% APR (midpoint of 5.96%-35.96%), using the midpoint of its 0%-8% fee range (4%). The fee is $400.00, so you’d receive about $9,600.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $361.48 a month, total payments of about $13,013.28, and a total cost of roughly $3,413.28. These are our own amortization figures, not a lender quote.

LendingPoint, 21.99% APR (midpoint of 7.99%-35.99%), using the midpoint of its 0%-10% fee range (5%). The fee is $500.00, so you’d receive about $9,500.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $362.76 a month, total payments of about $13,059.36, and a total cost of roughly $3,559.36. These are our own amortization figures, not a lender quote. The LendingPoint review’s own illustration (our math, not a LendingPoint quote), at 29.99% APR with a 6% fee over 60 months, put the payment at about $304.06 a month and total payments at about $18,244.

Who qualifies

LendingClub, now Happen Bank, lists four requirements: at least 18 years old, a US citizen or resident living in one of the 50 states or DC (not a US territory), a verifiable bank account, and a Social Security number provided at the loan confirmation step. It also accepts joint applications with a coborrower, which it says can help you qualify or borrow more. LendingPoint asks for verifiable annual income of at least $35,000, an active US bank account, and an age of at least 18; it doesn’t publish a hard minimum credit score, though third-party analyses put the practical floor around 640. It isn’t available in Connecticut, Iowa, Maryland, Maine, Nebraska, Nevada, Vermont, West Virginia, or DC, while LendingClub doesn’t publish an excluded-state list beyond US territories on the pages we checked.

Speed and funding

LendingClub, now Happen Bank, says funds can arrive in as little as 24 hours once your loan is approved for funding, and it reports that 64% of loans approved for funding from January to March 2026 were disbursed within 24 hours. LendingPoint says decisions are often available within minutes to hours of completing an application, with funds typically sent by ACH as soon as the next business day after you e-sign the final loan agreement.

Where each one wins

• LendingClub — a higher loan ceiling ($75,000 versus LendingPoint’s $36,500) for a larger need.
• LendingClub — joint applications with a coborrower, which can help you qualify or borrow more.
• LendingClub — a lower APR floor (5.96% versus LendingPoint’s 7.99%) as of September 2026.
• LendingPoint — decisions often available within minutes to hours of applying, a speed LendingClub doesn’t quote on the pages we checked.
• LendingPoint — a known practical credit-score floor, around 640 per third-party analyses, where LendingClub publishes no minimum score at all.

Bottom line

If you need more than $36,500, or a coborrower would help you qualify, LendingClub’s higher ceiling and joint-application option make it the one to check first. If you want a rough sense of your odds before applying, or a faster read on your decision, LendingPoint’s known practical credit floor and quick decision turnaround are worth comparing against it. Debt consolidation loans, explained is worth reading before you decide whether a personal loan is the right tool at all. Read the full LendingClub review and LendingPoint review, then start a loan request to see what you might actually qualify for.