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LLC to get around state restrictions?

Started by Peter, April 01, 2019, 11:00:00 PM

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mark78

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 https://forum.lendacademy.com/index.php/topic,2434.msg20843.html#msg20843" class="bbc_link" target="_blank">way back in 2014.

https://help.lendingclub.com/hc/en-us/articles/216093497-What-are-LendingClub-s-investment-account-options-" class="bbc_link" target="_blank">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 [email protected]


Fred93

I think probably yes.  I suggest you make sure you understand taxation of corporations before you do it. 

NEW LOANS:   | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | remoraid.eth 0.299 Ξ | ALL