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LendingClub’s requirements for personal loan approval include being at least 18 years old, having a Social Security number and having a credit score of at least 660. Applicants also must be a U.S. citizen or permanent resident, or have a valid immigration visa. They will need a bank account, as well.… read full answer

In addition, LendingClub requires a debt-to-income ratio of less than 40%, but that does not include mortgages or the loan being requested from LendingClub. Applicants also should have at least 2 revolving credit accounts open, 5 or fewer credit report inquiries from the past 6 months, and at least 36 months of credit history overall.

LendingClub also offers auto refinancing loans and business loans in addition to their personal loans. Those loans come with their own sets of requirements, too.

LendingClub Loan Requirements:

• Requirements for all loans: 18+ years old, SSN, bank account, U.S. citizen/permanent resident/immigration-visa holder.
• Requirements for personal loans: Credit score of 660+. Debt-to-income ratio of less than 40% (excluding mortgage and LendingClub loan request). At least 2 revolving credit accounts open. No more than 5 credit inquiries in past 6 months. At least 36 months of credit history.
• Requirements for auto refinancing loans: Credit score of 510+. Car must be 10 years old or newer with under 120,000 miles and must be a personal-use car. Loan being refinanced must have been open at least 1 month, have at least 24 months of payments left, and have a balance between $5,000 and $55,000.
• Requirements for business loans: Fair or better personal credit. At least 12 months in business. At least $50,000 in annual sales. No recent bankruptcies or tax liens.

It’s important to note that you don’t necessarily need to meet every one of LendingClub’s requirements to be approved. For example, people may be approved with lower credit scores (as low as 600, reportedly) if they have a high income. But it’s probably best to apply only if you satisfy all of LendingClub’s qualifications.

If you’re not sure how well you meet LendingClub’s requirements, you can always use WalletHub’s personal loan pre-qualification tool to check your odds of approval for a loan (as well as your potential rates). You’ll be able to see your chances with both LendingClub and a number of other lenders.

In addition to getting a loan from LendingClub, you can also become an investor and fund loans yourself. To do so, you must be at least 18 years old with an SSN, and have your identity verified by LendingClub. You must also make an initial deposit of at least $1,000, and invest at least $25 at a time in the future.