Posted by Renaud Laplanche :: October 17, 2008 @ 5:24 pmWe were delighted to open our doors to lenders again on Tuesday this week and see hundreds of lenders signing up for the new program in just a few days. In addition to the federal filing with the SEC, we have made a coordinated "blue sky" filing in all 50 states, and state clearances have been trickling in all week, with four new states already added: Hawaii, Nevada, Utah and Wyoming.
Other states already cleared include Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Louisiana, Minnesota, Mississippi, Montana, New York, Rhode Island, South Dakota, West Virginia, and Wisconsin. We are hoping to keep adding a few states each week for the next few weeks as we get clearance from state authorities, and will post regular updates and notify members directly as the list grows longer.
Keep in mind that state limitations do not apply to the Note Trading Platform operated by FOLIOfn, and all lenders can buy or sell Notes among themselves irrespective of their state of residence.
The Notes are offered by Prospectus.
Happy investing, happy trading and have a great weekend!
4 Comments
[...] again at just the right time now that lending at Prosper is temporarily closed. According to the Lending Club blog, Utah, where I live, has already been added: We were delighted to open our doors to lenders again [...]
I appreciate the timing of Lending Club's coming back online. I stumbled upon Prosper early this year and until they went dark last week, had no reason to diversify. Now that I have found Lending Club, I have more opportunity to invest, even while Prosper is unavailable.
Thank you,
If someone applies to borrow from lendingclub.com and lives in a state that hasn't yet received clearance, is the prospective borrower and prospectus automatically turned down?
@ Chris W,
Most of the states are open to borrowers. As for those that aren't, there's a list in the FAQ.
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