Is LendingClub Going Out Of Business?
In October 2020, the company ceased all new loan accounts on their website as part of restructuring into a neobank after the acquisition of Radius Bank. As of December 31, 2020, Lending Club will no longer operate as a peer-to-peer lender.
Lending Club is legit for both investors and borrowers. This Lending Club review, unlike some others, will review the service from both sides of the deal. Make sure to read about my experience below before you invest or borrow with Lending Club.
Lending Club Reviews for Investors and Borrowers - Is it Right for You?
Can you take your money out of LendingClub?
You may withdraw available cash from your account at any time. However, know that funds must be sent back to the same source from which they originated except in limited circumstances consistent with anti-money laundering policies.
How is a transfer of money to or from my account initiated? - LendingClub
If you do not pay it, then your debt will be sent or sold to collections. ... This is why you need to be aware of your rights regarding how debt collectors may treat you. Finally, you will be sued. LendingClub loans are unsecured, which means they will need a court judgment to get their funds from you.
How to Beat a Lending Club Charge Off | SoloSuit Blog
In Q3, LendingClub reported record revenue of $246.2 million, up 190% sequentially, and record net income of $27.2 million, up 190% sequentially.
Lending Club's Impressive Earnings Lure Savvy Investors - TheStreet