Terms of Service

These Terms of Service ("Terms") constitute a legally binding agreement between you ("Borrower," "you," or "your") and Lending Club Finance LLC ("Company," "we," "us," or "our"), a limited liability company organized under the laws of the State of California, with its principal office at 595 Market St #200, San Francisco, CA 94105.

By accessing our website at thelendingclub.online, submitting a loan application, or using any of our services, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, you must not use our services.

1. Eligibility Requirements

To be eligible to apply for a loan through Lending Club Finance LLC, you must meet all of the following requirements:

• Be at least 18 years of age (or the age of majority in your state of residence, whichever is greater)
• Be a United States citizen, permanent resident, or hold a valid visa with work authorization
• Have a valid Social Security Number (SSN)
• Have an active checking or savings account at a U.S. financial institution
• Have a verifiable source of regular income
• Have a valid email address and phone number
• Reside in a state where our lending services are available
• Not be involved in active bankruptcy proceedings

Meeting these eligibility requirements does not guarantee loan approval. All loan applications are subject to our underwriting criteria and credit evaluation process.

2. Our Services

Lending Club Finance LLC offers a range of consumer and commercial lending products, including but not limited to:

• Payday Loans: Short-term loans ranging from $500 to $1,500 with terms of 2 to 4 weeks
• Personal Loans: Unsecured loans from $1,000 to $25,000 with terms of 3 to 60 months
• Housing Finance: Home purchase, renovation, and refinancing loans from $10,000 to $50,000 with terms up to 30 years
• Auto Loans: Vehicle financing from $2,000 to $35,000 with terms of 12 to 72 months
• Business Loans: Working capital and expansion financing from $5,000 to $50,000 with terms of 6 to 60 months
• Education Loans: Student and education financing from $1,000 to $30,000 with terms of 12 to 120 months

Loan availability, amounts, terms, and rates may vary based on your state of residence, creditworthiness, and other factors. Not all loan products are available in all states.

3. Loan Application Process

The loan application process consists of the following steps:

1. Application Submission: You complete our online application form providing personal, financial, employment, and banking information. You authorize us to verify the information provided.
2. Review and Verification: Our team reviews your application, verifies your identity and income, and may perform a credit check. We may request additional documentation.
3. Loan Offer: If approved, we will present you with a loan offer detailing the amount, interest rate, term, monthly payment, and total cost of the loan.
4. Agreement Signing: You review and electronically sign the loan agreement. This process includes OTP (One-Time Password) verification and identity verification via selfie photograph.
5. Fund Disbursement: Upon successful signing, funds are disbursed to your designated bank account, typically within 1 to 3 business days.

4. Interest Rates, Fees, and APR

All interest rates and fees are disclosed to you before you sign any loan agreement, in compliance with the federal Truth in Lending Act (TILA) and Regulation Z.

• Annual Percentage Rate (APR): APR ranges from 5.99% to 35.99%, depending on your credit profile, loan amount, loan term, and other risk factors. Your specific APR will be disclosed in your loan agreement.
• Origination Fees: Some loans may include an origination fee, which will be clearly disclosed before you accept the loan. Origination fees, if applicable, are deducted from the loan proceeds.
• Late Payment Fees: If a payment is not received within 15 calendar days of the due date, a late fee may be assessed. The late fee amount will be specified in your loan agreement and will not exceed the maximum allowed by applicable state law.
• Returned Payment Fees: If a payment is returned due to insufficient funds, a returned payment fee may be charged as specified in your loan agreement.
• Prepayment: There are no prepayment penalties. You may pay off your loan in full or make additional principal payments at any time without incurring any additional charges.

5. Repayment Terms

By accepting a loan from Lending Club Finance LLC, you agree to the following repayment terms:

• Monthly payments are due on the same date each month as specified in your loan agreement
• Payments must be made in U.S. dollars
• Each payment is applied first to any outstanding fees, then to accrued interest, and finally to the principal balance
• You are responsible for ensuring that sufficient funds are available in your account on the payment due date
• If a payment due date falls on a weekend or federal holiday, the payment will be processed on the next business day
• You may make additional payments or pay off the entire balance at any time without penalty
• Partial payments may be accepted but do not satisfy the full monthly payment obligation

6. Automatic Payment Authorization

By signing a loan agreement with Lending Club Finance LLC, you authorize us to automatically debit your designated bank account or charge your card on file for the monthly payment amount on the scheduled due date each month until the loan is fully repaid.

• Auto-debit will occur on the day of the month specified in your loan agreement
• You must maintain sufficient funds in your account to cover each payment
• You may cancel automatic payments by providing written notice at least 5 business days before the next scheduled payment date
• Canceling auto-debit does not relieve you of your obligation to make timely payments
• If auto-debit is canceled, you are responsible for making manual payments by the due date
• We reserve the right to re-attempt a failed auto-debit transaction within 3 business days

7. Electronic Signatures and Agreements

By using our electronic signature process, you agree to the following:

• Your electronic signature has the same legal validity, enforceability, and effect as a handwritten signature, in accordance with the Electronic Signatures in Global and National Commerce Act (E-SIGN Act) and the Uniform Electronic Transactions Act (UETA)
• You consent to conducting transactions electronically, including receiving disclosures, notices, and documents in electronic form
• The identity verification process (OTP code and selfie photograph) constitutes part of the electronic signature and serves as evidence of your intent to sign
• Metadata captured during signing (IP address, geolocation, browser information, timestamp) is recorded and stored as part of the signed agreement record
• A signed copy of the agreement will be sent to your email address and will be available for download in PDF format
• You have the right to request a paper copy of any electronically signed document

8. Credit Reporting

You acknowledge and agree that:

• We may obtain your credit report from one or more credit reporting agencies as part of the application evaluation process
• An initial rate check may involve a soft credit inquiry that does not affect your credit score
• A full application review may involve a hard credit inquiry that could temporarily affect your credit score
• We may report your loan account information, including payment history, account balance, and account status, to one or more of the major credit bureaus (Equifax, Experian, TransUnion)
• Timely payments may positively impact your credit score, while late or missed payments may negatively impact your credit score
• Defaulting on your loan may result in negative reporting that can remain on your credit report for up to 7 years

9. Default and Collections

Your loan will be considered in default if any of the following occur:

• You fail to make a required payment within 30 days of the due date
• You provide false or misleading information in your application
• You file for bankruptcy
• You breach any other term of your loan agreement

In the event of default, we may take one or more of the following actions:

• Accelerate the full remaining balance of the loan, making the entire amount immediately due and payable
• Assess additional late fees and default interest as permitted by applicable law
• Report the default to credit reporting agencies
• Refer the account to a third-party collection agency
• Pursue legal remedies available under applicable law, including filing a lawsuit to recover the outstanding balance
• Offset amounts owed against any funds we may owe to you

We will make reasonable efforts to contact you and work out a resolution before taking collection action. If you are experiencing financial hardship, we encourage you to contact us as soon as possible to discuss potential options.

10. Your Representations and Warranties

By submitting a loan application and using our services, you represent and warrant that:

• All information you provide is true, accurate, complete, and not misleading
• You are legally authorized to enter into a binding agreement
• You are not using our services for any illegal or unauthorized purpose
• The bank account and/or card information you provide belongs to you
• You have the legal capacity and authority to authorize automatic payments from your account
• You will promptly notify us of any changes to your contact information, employment status, or financial situation that may affect your ability to repay the loan
• You are not currently in default on any other loan or financial obligation that would prevent you from fulfilling your obligations under this agreement

11. Prohibited Uses

You agree not to use our website or services to:

• Submit false, fraudulent, or misleading information
• Impersonate another person or entity
• Use another person's identity or financial information without authorization
• Attempt to gain unauthorized access to our systems, accounts, or data
• Interfere with or disrupt the operation of our website or services
• Use automated tools, bots, or scripts to access our website
• Engage in any activity that violates applicable federal, state, or local laws
• Use loan proceeds for illegal activities

12. Intellectual Property

All content on our website, including but not limited to text, graphics, logos, images, software, and design elements, is the property of Lending Club Finance LLC or its licensors and is protected by United States and international copyright, trademark, and other intellectual property laws. You may not reproduce, distribute, modify, or create derivative works from any content on our website without our prior written consent.

13. Disclaimers and Limitations of Liability

a) Website Disclaimer

Our website and services are provided on an "as is" and "as available" basis without warranties of any kind, either express or implied. We disclaim all warranties, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not warrant that our website will be uninterrupted, error-free, or free of viruses or other harmful components.

b) Limitation of Liability

To the maximum extent permitted by applicable law, Lending Club Finance LLC, its officers, directors, employees, agents, and affiliates shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, use, goodwill, or other intangible losses, resulting from:

• Your use of or inability to use our services
• Any unauthorized access to or alteration of your data
• Any errors, inaccuracies, or omissions in our website content
• Any interruption or cessation of our services
• Any third-party conduct or content on our website

In no event shall our total liability to you exceed the total amount of fees you have paid to us in the 12 months preceding the claim.

c) No Financial Advice

The information provided on our website is for general informational purposes only and does not constitute financial, legal, or tax advice. We recommend that you consult with a qualified financial advisor before making any borrowing decisions.

14. Indemnification

You agree to indemnify, defend, and hold harmless Lending Club Finance LLC, its officers, directors, employees, agents, and affiliates from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:

• Your use of our services
• Your violation of these Terms
• Your violation of any applicable law or regulation
• Any false or misleading information you provide
• Your infringement of any third-party rights

15. Dispute Resolution and Arbitration

Any dispute, claim, or controversy arising out of or relating to these Terms, your loan agreement, or our services shall be resolved through binding arbitration, rather than in court, except that you may assert claims in small claims court if your claims qualify.

• Arbitration shall be conducted by the American Arbitration Association (AAA) under its Consumer Arbitration Rules
• Arbitration shall take place in San Francisco, California, unless otherwise agreed by the parties
• The arbitrator's decision shall be final and binding and may be entered as a judgment in any court of competent jurisdiction
• Each party shall bear its own costs and attorneys' fees, unless the arbitrator determines otherwise
• Class Action Waiver: You agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated, or representative action. You waive any right to participate in a class action lawsuit or class-wide arbitration.

You may opt out of this arbitration agreement by sending written notice to our address within 30 days of first accepting these Terms. The opt-out notice must include your name, address, and a clear statement that you wish to opt out of the arbitration provision.

16. Governing Law

These Terms and any disputes arising hereunder shall be governed by and construed in accordance with the laws of the State of California, without regard to its conflict of law provisions. To the extent that arbitration does not apply, you consent to the exclusive jurisdiction of the state and federal courts located in San Francisco County, California.

Notwithstanding the foregoing, your loan agreement may be subject to the laws of your state of residence to the extent required by applicable consumer protection statutes.

17. Modifications to These Terms

We reserve the right to modify these Terms at any time. When we make changes, we will update the "Last Updated" date at the top of this page and post the revised Terms on our website. Material changes will be communicated to you via email if you have an active account. Your continued use of our services after any modifications constitutes your acceptance of the updated Terms. If you do not agree to the modified Terms, you must stop using our services.

18. Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving the original intent of the parties.

19. Contact Information

If you have any questions about these Terms of Service, please contact us:

Lending Club Finance LLC
595 Market St #200
San Francisco, CA 94105

Phone: +1 (840) 242-7410
Email: info@thelendingclub.online

Business Hours: Monday - Friday, 9:00 AM - 6:00 PM (Pacific Time)

By using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service and our Privacy Policy.