Posted by Renaud Laplanche :: October 24, 2008 @ 9:25 amWe are happy to report that our offering was cleared by the State of New Hampshire yesterday morning. Lenders who are New Hampshire residents can now buy notes from Lending Club. We have set up a big map in our office that shows weekly progress as state approvals trickle in - here is the smaller version of it:
Other states already cleared include Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Louisiana, Minnesota, Mississippi, Montana, Nevada, New York, Rhode Island, South Dakota, Utah, West Virginia, Wisconsin and Wyoming. 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.
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4 Comments
That's great news! It's awesome that you've survived the gov't
regulatory review and can continue to press on at the state-level.
Keep up the good work!
I live in the Nashville area and want to participate as a Lender
directly through the club. Are you working with the state of TN to
be cleared? If so, any idea when that might happen?
@ Paul, We are actively working on TN clearance. We'll post updates
here, and also send notifications via email to all who provide /
have provided their email address upon inquiry.
If you’re interested in hearing Renaud Laplanche speak and posing
questions directly to him, check out MIT/Stanford’s January 20th
VLAB event “Upside of the Downturn:What Business Models and Ideas
Work in Today’s Economic Environment?” at:
http://www.vlab.org/article.html?aid=251 Renaud and Lending Club
will be the feature speaker/company.
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