Author Topic: Peer to Peer Investing in Maryland  (Read 4097 times)

masch1

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Peer to Peer Investing in Maryland
« on: November 16, 2014, 09:56:23 PM »
Hi all,

I am really interested in peer-to-peer lending options like Prosper or Lending Club, but unfortunately, neither of those is available in MD. Does anyone know of other ways of investing that are similarly innovative/have had similarly good results (such as what MMM showed for his Lending Club investments) for those of us in states where peer-to-peer lending isn't available? I'm really disappointed that I can't start with these at the moment, but I was hoping to hear ideas from others who might be in places with similar restrictions.

Thanks!

Mighty-Dollar

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Re: Peer to Peer Investing in Maryland
« Reply #1 on: November 20, 2014, 02:09:09 AM »
Stick with the time-tested, regulated bread and butter investments that have been working for over a hundred years: Stocks and bonds. Invest in index ETF's that replicate stocks and bonds.

The Mobile Mustachian

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Re: Peer to Peer Investing in Maryland
« Reply #2 on: November 20, 2014, 03:14:26 AM »
Masch1, does MD allow the purchasing of notes on Lending Club's FolioFN trading platform? That would be one avenue to purchase notes.

The Mobile Mustachian

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Re: Peer to Peer Investing in Maryland
« Reply #3 on: November 20, 2014, 03:17:09 AM »
Also, one thing to keep in mind: Lending Club has filed for an IPO. In the coming months once it is (hopefully) approved by the SEC, this will make the LC platform available in every state.

WisconsinFI

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Re: Peer to Peer Investing in Maryland
« Reply #4 on: November 20, 2014, 07:24:06 AM »
Also, one thing to keep in mind: Lending Club has filed for an IPO. In the coming months once it is (hopefully) approved by the SEC, this will make the LC platform available in every state.

Yes, and you can read more about it here (see: Will Lending Club Become Available to Investors in All 50 States?):


http://www.lendacademy.com/lending-club-ipo-legal-drama/


Secondary market is not an option for Maryland. From the LC website:

In addition, applicants from District of Columbia, Kansas, Maryland, Ohio, and Oregon are not eligible to become trading members with FOLIOfn.