LendingClub still makes personal loans. It just does it under a new name. Since June 2026 the company has been Happen Bank, and its loans run from $1,000 to $75,000 with terms of two to seven years.
Is LendingClub now Happen Bank?
Yes. LendingClub became Happen Bank on June 22, 2026, after announcing the change that April.
The bank is now Happen Bank, National Association (formerly LendingClub Bank), a Member FDIC. Its parent company is Happen, Inc. (formerly LendingClub Corporation). The parent's stock moved from the NYSE, where it traded as LC, to Nasdaq under the ticker HAPN. The website is now happen.com.
The company describes the change as a new name and look, with no change to its products or services.
I have a LendingClub loan. Do I need to do anything?
No. Happen Bank says existing accounts, products, login credentials and routing information are not affected by the rebrand. Your rate and loan terms stay the same, and you sign in with the same username and password as before.
One quick check is worthwhile. If you pay by autopay, look at your next statement to confirm the payment went through as usual.
How much can you borrow from LendingClub?
You can borrow between $1,000 and $75,000, repaid over 24 to 84 months. Loans are available in all 50 states and Washington, D.C.
The money can go toward almost anything, from paying off credit cards to medical bills or a home project. Debt consolidation is the most common reason people borrow. A few uses are not allowed:
post-secondary education costs
investing, including securities and cryptocurrency
illegal activities
What APR and fees does LendingClub charge?
LendingClub (Happen Bank) personal loans carry APRs from 5.96% to 35.99%, as of July 6, 2026. The lowest rates go to borrowers with excellent credit.
Most loans also come with an origination fee of 0% to 8% of the loan amount. The fee is taken out before the money reaches you, so you receive less than the amount you borrow. Happen Bank's own representative example shows how that works:
LendingClub Personal Loan Example (Scroll to view more →)
Example loan
Amount borrowed
$15,262
Term
36 months
Interest rate
13.99%
Origination fee (6%)
$916
Amount you receive
$14,346
APR
18.40%
Monthly payment
$522
Total of payments
about $18,792
The APR is the number to compare, because it includes the fee. Here the interest rate is 13.99%, but the true yearly cost is 18.40%.
If you need a specific amount in hand, borrow a little more to cover the fee. For example, to receive $14,346 in this case, you would borrow $15,262.
What credit score do you need for a LendingClub loan?
LendingClub doesn't publish a minimum credit score. Reviewers report figures from 600 to 660, and borrowers with scores closer to 700 tend to see better offers. Your debt-to-income ratio matters too. Reviewers generally put the limit at 40% for a single applicant.
To apply, you need to:
be at least 18
be a U.S. citizen or permanent resident
have a Social Security number and a government-issued ID
show proof of income, such as pay stubs, bank statements or, if you're self-employed, tax returns
have a U.S. bank account
There is no stated minimum income, but income is verified before the loan is funded.
Can you apply with a co-borrower?
Yes. You can apply jointly by choosing the "Two of Us" option when you check your rate. Both borrowers share the money and the responsibility for repaying it. Happen Bank doesn't accept co-signers, so the second person has to be a full co-borrower.
How does Direct Pay work for debt consolidation?
With Direct Pay, Happen Bank sends the loan money straight to your credit card companies or other creditors instead of to you. Anything left over goes to your bank account. Choosing Direct Pay may also qualify you for a lower rate. For people consolidating credit cards, it also removes the temptation to spend the money on something else first.
How do you apply for a LendingClub personal loan?
You apply online, and the process has five steps:
Check your rate. Enter your name, address, income and contact details. This uses a soft credit inquiry, which doesn't affect your score.
Pick an offer. Adjust the amount and term to see how the monthly payment changes.
Complete the application. Add your Social Security number and employment details, then upload income documents. Happen Bank may confirm your job through your work email.
Sign. Review the Truth in Lending disclosure and sign electronically.
Get funded. The money is sent by ACH to your bank account, or straight to your creditors if you chose Direct Pay.
Happen Bank runs a hard credit inquiry only when the loan is actually issued.
How fast does LendingClub fund a loan?
Eligible loans approved before 12:30 p.m. ET on a business day can be funded the same day. Between April and June 2026, 55% of approved loans were funded within 24 hours.
Most others arrive within a few business days. Your own bank's processing time can add a day.
What happens if you pay late or pay off early?
If a payment is more than 15 days late, you're charged a fee of $15 or 5% of the payment, whichever is greater. Paying the loan off early costs nothing, because there is no prepayment penalty.
You can also move your due date if your paycheck schedule changes. A permanent change can be made online, and a one-time change by phone.
What else does LendingClub offer?
Beyond personal loans, Happen Bank offers deposit accounts that tie into its loans:
LevelUp Checking pays cash back on essential purchases. If you pay your personal loan on time from this account, you also get 2% of each monthly payment back.
LevelUp Savings is a high-yield account. It pays its highest rate to members who deposit at least $250 a month.
It also offers CDs and business banking. Deposits are FDIC-insured up to $250,000 per depositor, per ownership category.
Is LendingClub legit?
Yes. LendingClub, now Happen Bank, is a federally chartered national bank, a Member FDIC, and registered under NMLS ID 167439. It has more than five million members.
The company began in 2006 as LendingClub, a peer-to-peer lending marketplace. It agreed to buy Radius Bank in 2020 and stopped peer-to-peer lending at the end of that year. Regulators approved the deal in early 2021, and LendingClub became a bank.
One caution: scammers have used the company's name to ask for upfront fees in exchange for a loan. Happen Bank does not charge an application fee. If you have questions about an offer or your account, call Happen Bank customer service at 888-596-3157.
Is a LendingClub personal loan worth it?
Happen Bank is LendingClub under a new name, and its personal loans work the same way. It offers large loan amounts, terms of up to seven years, joint applications and direct payment to creditors, and many loans fund within a day.
The main cost to watch is the origination fee of up to 8%. Check the APR on your offer, not just the interest rate, and decide whether the amount you'll actually receive covers what you need.
Transparency Notice:
MikeCredit.com is an independent comparison site, not a lender, and this review is not financial advice. APRs, fees, and terms are representative, may vary based on your credit profile and state, and can change without notice. Always verify current terms on the lender’s official website and review your loan agreement before signing.
