Author Topic: LLC to get around state restrictions?  (Read 1013 times)

mark78

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LLC to get around state restrictions?
« on: April 02, 2019, 11:03:14 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
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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


Fred93

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Re: LLC to get around state restrictions?
« Reply #1 on: April 03, 2019, 10:06:18 AM »
I think probably yes.  I suggest you make sure you understand taxation of corporations before you do it.