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Incorrect Information in this thread
I would like to correct some misinformation in this thread. First, let me state that I am an active investor at LendingClub.com and I am a resident of New Jersey.
Lending Club does not allow investors to participate in the purchase new loans, if you are a resident of a state for which they are not yet registered. Lending Club does allow investors from all states in the U.S. (including New Jersey) to buy and sell existing loans on their trading platform (managed by FolioFn). So if you are not a resident of the states for which the are currently registered, you can still participate in this manner.
I personally buy loans for my IRA and regular account in this manner. I cannot comment intelligently on Prosper.com since I do not know as much about them.
I would like to correct some misinformation in this thread. First, let me state that I am an active investor at LendingClub.com and I am a resident of New Jersey.
Lending Club does not allow investors to participate in the purchase new loans, if you are a resident of a state for which they are not yet registered. Lending Club does allow investors from all states in the U.S. (including New Jersey) to buy and sell existing loans on their trading platform (managed by FolioFn). So if you are not a resident of the states for which the are currently registered, you can still participate in this manner.
I personally buy loans for my IRA and regular account in this manner. I cannot comment intelligently on Prosper.com since I do not know as much about them.
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