If you live in Kansas or North Carolina and want to take out a person-to-person (P2P) loan, then you’re in luck… Residents of both states are now eligible to borrow via Lending Club.
That brings to the number of states eligible for borrowing through Lending Club to 42. Only Idaho, North Dakota, Nebraska, Iowa, Illinois, Tennessee, Mississippi, and Maine residents are unable to borrow using the Lending Club platform.
While I’ve only been an investor with Lending Club, and have never borrowed, former FCN staff writer Matt Jabs used them to consolidate his high interest credit card debt and had a great experience.
I actually invested in Matt’s loan to the tune of $500 and earned a nice 9.32% return until he paid it off early. While writing this post, I shot Matt a quick IM to ask if he’d use Lending Club if he had to do it over.
Here’s his response:
“In hindsight, borrowing from Lending Club turned out to be the best decision we could have made. If I had to do it over again, I wouldn’t hesitate to borrow through them.”