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Lending Club Approval??

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LCD328
Valued Member

Lending Club Approval??

On Sept. 21st, my husband applied for a Lending Club personal loan. Tonight when I checked, this was what it says,

Great News! Your loan is approved and your funds will be sent to your bank account and to your creditors. Please note it may take up to 4 additional business days for your bank and your creditors to receive your funds.

 

I have done alot of research on Lending Club concerning what they require for approval. Some people have said that they were able to see the funding when they were approved. It doesn't show anything about funding on his account. So my question is, is it funded yet or not. 

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1 REPLY 1
Anonymous
Not applicable

Re: Lending Club Approval??

I have no personal experience with a LC loan but, as I understand the process, you have two stages: Underwriting (which has been passed) & Funding (not yet). A more traditional loan passes quickly from stage 1 to 2 because the banks' money is being used whereas LC is using investor's.

Message 2 of 2
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