The Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA) provide certain financial benefits and protections to eligible servicemembers when they enter active duty. We take the services we provide to LendingClub members seriously, including our country’s military personnel and the important mission they serve.
Servicemembers who meet the requirements under SCRA are eligible to receive an interest rate of no more than 6% per year for debt incurred before entering active duty or, for reservists, debt incurred before receiving notice of active duty.
Eligible servicemembers may include:
- Active duty members of the Army, Navy, Air Force, Marine Corps, or Coast Guard
- Reservists serving on active duty in the Army, Navy, Air Force, Marine Corps, or Coast Guard
- Commissioned officers of the National Oceanic and Atmospheric Administration (NOAA) and Public Health Service on active service
- Other servicemembers who may qualify under certain state laws
Applying for SCRA benefits
If you believe you qualify SCRA benefits, send the following information to email@example.com or call us at 1-888-596-3157:
- Your full name
- Your loan number or member ID
- The best way to contact you about your request
- A copy of your active duty orders OR
- A letter from your executive or commanding officer on official letterhead that includes:
- Your name
- Active duty start date
- Branch of service
- Last four digits of your social security number
The Military Lending Act (MLA) limits the Annual Percentage Rate (APR) to 36% for many types of consumer loans and credit. It also protects your spouse and certain dependents of military personnel.
When you apply for a loan through LendingClub, we check to see if you qualify for MLA benefits and adjust your loan offer as needed.
If you have questions about how the MLA applies to you, give us a call at 1-844-538-6754.