Financing – The Lending Club
Last year, Lending Club issued over $717 million in loans and thanks to you $6.6 million (almost 10%) of those dollars were issued for the purpose of a new pool or spa! This year, we expect to issue $1.5 billion in loans to borrowers and want pool loans to be a big part of that growth. Now that pool season is starting to ramp up, we wanted to reach out and make sure you have the information and tools you need to make this season even better than last year!
We’ve made some improvements to our policy since last season to help you buy more pools and spas:
- Increased Approval Rates: We increased our maximum Debt-to-Income ratio to 35% (last season it was set at 20% for most applicants)
- Improved pricing for larger loans! We’ve revised our pricing model to generally offer better rates on the larger loan sizes that pool buyers often request.
- Open in more States: We are now accepting applications in Indiana and Tennessee which has us open in 44 states.
How Lending Club Works:
Instead of paying interest on a credit card or a traditional bank loan, you get your loan through ordinary people like you who want to invest in your success. Lending Club makes things easy – you apply in minutes and receive your money in as few as five days. Get a great low rate with no hidden fees or prepayment penalties.
– Borrow up to $35,000
– Low Fixed Rates and Payments
– Flexible Terms
– No Pre-Payment Penalties
– No Hidden Fees
– It’s Simple and Secure
– Check Your Rate without hurting your Credit
– Get your money in as few as 5 days