Skip to main content

Author Topic: LLC to get around state restrictions?

m
  • Posts: 19
LLC to get around state restrictions?
OP: April 01, 2019, 11:00:00 PM
I've been receiving emails from LC about their "Additional Account Types", e.g. corporate accounts. Couldn't an investor living in a restricted state set up an LLC in a permitted state and invest that way? And I assume that would apply to the secondary market as well as new loans?

The last discussion of this on the forum was way back in 2014.

This page says:

Corporate account
---------------------
An account opened in the name of a corporation or LLC. This type of account can be controlled by an authorized representative of the corporation. If you would like to open an account in the name of a corporation, please contact Investor Services at 1-888-596-3159 or investing@lendingclub.com

  • IP logged

  • *****
  • Hero Member
  • Posts: 604
LLC to get around state restrictions?
#1: December 31, 1969, 07:00:00 PM
I think probably yes.  I suggest you make sure you understand taxation of corporations before you do it. 
  • IP logged