Residents of Mississippi are now able to post their loans on Lending Club, according to Partner Marketing Manager Mozelle Romero.
This reduces the number states whose residents are not able to post on the popular peer-to-peer lending site to five – Iowa, Idaho, North Dakota, Maine and Nebraska.
ICYMI, Lending Club’s deets: “By allowing our members to directly invest in and borrow from each other, we avoid the cost and complexity of the banking system and pass the savings on to you. Both sides can win: better rates to borrowers and better returns to investors. It’s that simple.”
If you wish to invest in Lending Club loans, you are a bit more restricted.
According to Lending Club’s website only residents of the following 28 states may invest:
- New Hampshire
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
If you live in Idaho or Nebraska, worry not for you can post your loan over at Prosper. If your are from Iowa, North Dakota or Maine, sorry, I don’t know what to tell you.
If you wish to invest it is a bit more complicated. Residents of all of the above states may invest at Prosper as well, save for those from Kentucky.
Residents of several states can invest at Prosper but not Lending Club – Alaska, District of Columbia, Michigan, New York, and Oregon.