LendingClub vs Upstart

The short version

LendingClub, now Happen Bank, and Upstart both lend $1,000 to $75,000 to borrowers with fair-to-good credit — and, at Upstart, thinner files too — without publishing a hard minimum credit score. LendingClub says approval depends on your credit score, creditworthiness, and ability to repay, and lets you apply with a coborrower; Upstart says it has approved applicants with scores as low as 300 because its model also weighs education, employment history, and even a confirmed job offer starting within six months. Checking your rate at either lender is a soft pull that leaves your score untouched.

APRs, as of September 2026, run 5.96% to 35.96% at LendingClub and 6.30% to 35.99% at Upstart. LendingClub’s origination fee runs 0% to 8% of the loan amount; Upstart doesn’t publish a fee range at all — the one figure it states publicly is the 8.15% fee in its own representative example. Terms differ too: LendingClub spans 24 to 84 months, while Upstart only writes 36- or 60-month loans.

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, no fee during a 15-day grace period on a late payment (the fee that applies after that grace period isn’t published), and no prepayment penalty. Upstart’s published range is 6.30% to 35.99% APR; it deducts an origination fee from your proceeds too, but doesn’t publish the range that fee can span — the only figure it discloses is 8.15% in its own representative example.

Take a $10,000 loan over 36 months at the midpoint of each lender’s published APR 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.

Upstart, 21.15% APR (midpoint of 6.30%-35.99%), using the 8.15% fee from its own published representative example (Upstart doesn’t publish a fee range). The fee is $815.00, so you’d receive about $9,185.00 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 $346.75 a month, total payments of about $12,483.00, and a total cost of roughly $3,298.00. These are our own amortization figures, not a lender quote. Upstart’s own representative example uses a different combination — a $10,000 loan over 60 months at a 19.08% interest rate with the same 8.15% fee, for a 23.37% APR — 60 payments of $261, totaling about $15,660.

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.

Upstart’s published requirements are being at least 18 (19 in Alabama, Nebraska, and Puerto Rico), a US citizen or permanent resident, a valid bank account, and verifiable income or a job offer starting within six months. Upstart doesn’t publish a hard minimum credit score — it states it has approved applicants with scores as low as 300 — and doesn’t describe a coborrower option on the pages we checked. It isn’t available to residents of Iowa or West Virginia; LendingClub accepts applications from all 50 states and DC, though it notes some amounts, rates, and terms may be unavailable in certain states.

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. Upstart says most borrowers who accept an offer receive funds within one business day; loans used for education or tuition expenses are held three business days instead, a wait Upstart attributes to federal Truth in Lending rules rather than its own process.

Where each one wins

• LendingClub — a lower APR floor (5.96% versus Upstart’s 6.30%) as of September 2026.
• LendingClub — joint applications with a coborrower, which can help you qualify or borrow more, an option Upstart doesn’t describe on the pages we checked.
• LendingClub — a published origination fee range (0%-8%), where Upstart discloses only a single representative-example figure.
• Upstart — no fixed minimum credit score; it says it has approved applicants with scores as low as 300.
• Upstart — considers education, employment history, and a job offer starting within six months alongside credit and income.

Bottom line

If a coborrower would help you qualify, or you’d rather see a published fee range before you apply, LendingClub is the one to check first. If your credit is thin or your history is short — a recent graduate, or someone with a job offer instead of pay stubs — Upstart’s underwriting model is built to look past exactly that gap. What credit score do you need for a personal loan? is worth reading before you apply to either. Read the full LendingClub review and Upstart review, then start a loan request to see what you might actually qualify for.