HFD vs LendingClub Patient Financing
How HFD compares with LendingClub Patient Solutions, now offered by Happen Bank.
Updated September 20Checked against HFD's published terms
LendingClub has rebranded as Happen Bank, and its patient financing now runs under the Happen Bank name. Happen Bank lists up to $65,000 over terms as long as 144 months at 0% to 30.99% APR, with a soft check to see rates and a hard inquiry when a loan is issued. HFD uses a soft check only, reports a 99%+ approval rate, and lists up to $35,000 over up to 84 months.
Key facts
- LendingClub has announced its rebrand to Happen Bank.
- LendingClub's patient financing page now redirects to Happen Bank.
- Happen Bank lists amounts up to $65,000 and terms up to 144 months.
- Happen Bank runs a hard inquiry when a loan is issued; HFD never does.
- HFD reports approving more than 99% of applicants.
HFD vs LendingClub (Happen Bank) side by side
Happen Bank offers bigger amounts and longer terms, while HFD is easier to qualify for with no hard inquiry.
| HFD | Happen Bank (formerly LendingClub) | |
|---|---|---|
| Amount | Up to $35,000 (dental program) | $500 or $1,000 up to $65,000, depending on the page |
| Term | Up to 84 months (dental program) | 6 or 24 months up to 144 months, depending on the page |
| APR | 0% options for every credit tier, per HFD | 0% to 30.99% |
| Credit check | Soft only, including at funding | Soft to check rates; hard when a loan is issued |
| Published approval | 99%+ | Not published |
| Lender | Bank loan program issued by Hatch Bank | Happen Bank, N.A. |
| Prepayment penalty | None | None |
What changed with LendingClub
LendingClub now operates under the Happen Bank name.
LendingClub has announced that it is rebranding as Happen Bank, with the change rolling out over the summer. Its patient financing page now redirects to Happen Bank's health and wellness financing. If your provider still says "LendingClub," they mean the same program.
The hard inquiry difference
Happen Bank runs a hard inquiry when your loan is issued, while HFD does not.
A hard inquiry can lower your score by a few points and stays on your report for up to two years. If you plan to apply for a mortgage or car loan soon, HFD's soft-only process avoids that. See does HFD do a hard credit check.
Which one fits you?
Your credit and treatment cost decide the better fit.
- HFD suits fair or poor credit and anyone avoiding a hard inquiry.
- Happen Bank suits strong credit and large treatments above $35,000, or anyone who wants terms beyond 84 months.
Bottom line
Check HFD first if your provider offers both, since it won't touch your credit score.
Then compare the APR and total cost of each offer. Happen Bank's published amounts and terms differ between its pages, so confirm the exact terms in your offer.
Common questions
Is LendingClub Patient Solutions still available?
LendingClub has rebranded as Happen Bank, and its patient financing page now redirects to Happen Bank.
Does LendingClub (Happen Bank) do a hard credit check?
Checking your rate uses a soft inquiry. A hard inquiry happens when a loan is issued.
Which is easier to get, HFD or Happen Bank?
HFD reports approving more than 99% of applicants. Happen Bank doesn't publish an approval rate.
Which offers longer terms?
Happen Bank lists terms up to 144 months. HFD's dental program lists up to 84 months.
Sources
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