Lending Club Introduces Self-Directed IRA to Enable Investments in P2P Lending

P2P lending service Lending Club, today announced the availability of the first Self-Directed Individual Retirement Account to enable investments in peer lending. EntrustCAMA, part of the Entrust Group,  serves as the administrator for these accounts.

This new Self-Directed IRA investment choice gives individuals the ability to build a portfolio of Lending Club notes and hold that portfolio in a tax-free or tax-deferred account. To meet the Federal deadline for this tax season, applications must be completed online, printed and postmarked before April 15, 2009. The account application is available at https://www.lendingclub.com/sdIRA/registerIRA.action

Key benefits stated:

  1. Potential for high returns. Choose from a diversified group of hundreds of qualified borrowers.
  2. Tax advantages. Investments in a Self-Directed IRA can grow tax deferred until retirement age.
  3. Flexibility.
    Select the type of IRA which is right for you:
    Individuals: Traditional or Roth
    Small businesses: SIMPLE or SEP
    Fund the IRA directly with a check or an existing account (IRA or 401K) to transfer or rollover.
  4. A Diversified Retirement Portfolio. This Self-Directed IRA gives your portfolio access to Lending Club Notes, going beyond traditional stocks, bonds and mutual funds.


  • No account opening fees
  • One flat 250 US$ annual account maintenance fee starting in 2010 when you open an account before April 15, 2009
  • No other fees
  • Low minimum starting contribution of 5,000 US$

Sources: press release, Lending Club website