Both individuals and entities can be investors at LendingClub.
State and Financial Suitability
Our investment offerings are not currently available to all investors in all states. Investors may invest in loans facilitated by LendingClub only if they reside in one of the states listed here and also meet that state’s Financial Suitability conditions.
Identification and Verification
Individual investors must be at least 18 years old, have a valid social security number, and have their identity successfully verified by LendingClub.
Family trusts, companies and other organizations will need to contact us at 1-888-596-3159 or firstname.lastname@example.org for identity verification purposes in order to become investors.
Account and Investment Minimums
There is a required initial deposit of at least $1,000. Once an account is funded, there is a $25 minimum investment per Note.
Different Account Types
LendingClub offers a variety of account types to meet your investing needs. We offer individual accounts, joint accounts, trust accounts, corporate accounts, and custodial/minor accounts. Open an account today.
We also offer 401(k) rollover and retirement accounts, including Traditional IRAs, Roth IRAs, SEP IRAs, and Simple IRAs with our custodian Self Directed IRA Services, Inc.** Learn more about retirement accounts at LendingClub.
Flexible Investing Styles
LendingClub’s platform supports a wide range of investing styles. Some investors prefer an active approach – they can log into their account regularly, browse the loans listed on the platform, and place orders manually. Some investors even download the loan details and perform their own analysis before placing an order.
On the other hand, some investors prefer to select their investment criteria and let our Automated Investing service execute their investment strategy for them. This option saves investors’ time while keeping them in control of their investment strategy.
Whether you want to individually hand-pick every Note or you want to set your investment criteria and let Automated Investing put your cash to work, LendingClub provides the information and the tools to help you do so. ***
Investors should be prepared to hold their investment to maturity. Currently, loans facilitated by LendingClub have 36- or 60-month terms at origination. ***
** LendingClub’s preferred IRA custodian is Self Directed IRA Services, Inc., a subsidiary of Horizon Bank. Self Directed IRA Services, Inc. charges an annual account fee of $100 at account opening and then annually on the anniversary of account opening.
LendingClub will pay the $100 annual account fee due at account opening on your behalf if your account has an initial minimum balance of $5,000 or more invested in LendingClub Notes and maintains this minimum invested balance for the following 12 months. For every subsequent year in which your account maintains a minimum balance of $10,000 or more invested in LendingClub Notes, LendingClub will pay the annual account fee of $100 on your behalf on the anniversary of account opening.
All account balances are determined as of the last business day immediately prior to the anniversary date of the opening of your account. You will be responsible for the annual account fee of $100 if your account does not meet the above requirements. LendingClub reserves the right to modify or discontinue this offer at any time. See the Self Directed IRA Services, Inc. IRA Fee Schedule.