Lending Club Enables Social Lending Via Retirement Accounts

Just a week after announcing a $12 million series B venture capital round, social lending company Lending Club has announced a new partnership with EntrustCAMA. The new partnership will allow lenders to use monies from their IRA retirement accounts as funding sources for loans made on Lending Club.

Renaud Laplanche, CEO and Founder of Lending Club said regarding the launch, "Now investors have more choice for their retirement accounts beyond traditional asset classes."

EntrustCAMA will serve as the administrator for the accounts. Check out the full press release which includes links about the program. Clearly there are a lot of pros and cons about using your retirement account in this manner and the best advice I could give you is to speak to someone who fully understands the retirement account market and can guide you and your monies.