Author Topic: Borrow from LC or Prosper using Federal Tax ID (actually borrow as a business)  (Read 4072 times)

DiligentiaLLC

  • Newbie
  • *
  • Posts: 30
    • View Profile
    • Email
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?

Peter

  • Administrator
  • Hero Member
  • *****
  • Posts: 754
    • View Profile
    • Lend Academy
    • Email
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
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

DiligentiaLLC

  • Newbie
  • *
  • Posts: 30
    • View Profile
    • Email
Thank you sir.  I will pass this along.