Lend Academy Network Forum

Lending Club Discussion => Borrowers - LC => Topic started by: DiligentiaLLC on February 16, 2012, 06:11:24 PM

Title: Borrow from LC or Prosper using Federal Tax ID (actually borrow as a business)
Post by: DiligentiaLLC on February 16, 2012, 06:11:24 PM
Today I was asked a great question - one of which I have no idea what the answer is so I thought I would put it on the boards and see if anyone knows for certain. Does anybody know if a business can get a loan from prosper or lending club?  And when I say "business" I mean getting a loan using the actual business name and FEIN (Federal Tax Identification Number) versus borrowing as an individual and using his/her social security number.

Any ideas?
Title: Re: Borrow from LC or Prosper using Federal Tax ID (actually borrow as a business)
Post by: Peter on February 18, 2012, 05:28:23 PM
Chris,

You cannot get a business loan from Lending Club or Prosper. You must use your SSN and it must be a personal loan. No business tax numbers allowed.

Peter
Title: Re: Borrow from LC or Prosper using Federal Tax ID (actually borrow as a business)
Post by: DiligentiaLLC on February 18, 2012, 06:55:49 PM
Thank you sir.  I will pass this along.