When you place an order for a set of Notes, it is likely that one or more of those Notes will not ultimately issue because the loans associated with the Notes will not issue. Historically, about 30% of the loans listed on the LendingClub platform are not issued. A loan might not issue for a variety of reasons.
- Borrowers may decide to cancel the loan request;
- Borrowers may fail to provide all of the information we need to verify a loan application; or
- Borrowers may fail an income verification screen.
If a loan does not issue, the cash you committed to that loan will become available to you to commit to other loans. For real-time updates on your orders, please view your order history.
To learn more about the Note review process, click here.