Lending Club Partnership

CoastalStates Bank has partnered with Lending Club to provide customers a lower-cost alternative to a traditional consumer loan. With a loan* through Lending Club, you can pay off high-rate credit cards and other debt faster or even fund a much-needed home improvement project.

Here are three important things to consider:

  1. Borrowers reduce their rates by an average of 24%! 1
  2. As soon as you consolidate your debt, instead of juggling multiple payments each month that never seem to go down, you’ll be making one easy payment.
  3. You can use your loan for other expenses, like a family vacation, or projects that will add value to your home.

Learn more by visiting FAQs or www.lendingclub.com/coastalstates today!

* All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 5.99% to 35.89%. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at time of application. The origination fee ranges from 1% to 6% and the average origination fee is 5.49% as of Q1 2017. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via Lending Club have a minimum repayment term of 36 months or longer.

1 Based on responses from 7,715 borrowers in a survey of 122,975 randomly selected borrowers conducted from 1/1/16 - 3/31/17. Borrowers who received a loan to consolidate existing debt or pay off their credit card balance reported that the interest rate on outstanding debt or credit cards was 20% and average interest rate on loans via Lending Club is 15.2%. The origination fee ranges from 1% to 6% and the average origination fee is 5.49% as of Q1 2017. Best APR is available to borrowers with excellent credit.