Average Net Annual Returns on Self-Directed IRAs over 10%
Redwood City, CA—March 25, 2010—Lending Club, the lending network that brings together investors and creditworthy borrowers, offers a No-Fee, self-directed Individual Retirement Account. With EntrustCAMA, part of the Entrust Group, a leader in account administration for self-directed retirement plans, who serves as the administrator of these accounts.
These No-Fee IRAs can offer higher returns than other IRAs, as of March 24, 2010, these IRA's have averaged more than 10% net annualized returns. There is no fee on these IRAs with balances over $10,000, and accounts with lower balances incur a nominal annual fee. The IRA is entirely self-directed, so account owners can diversify their funds beyond stocks and mutual funds into other asset classes, such as gold, real estate and other investments.
To meet the Federal deadline for this tax season, contributions must be submitted by April 15, 2010. A Lending Club No-Fee IRA can be opened in minutes online at https://www.lendingclub.com/sdIRA/registerSDIRA.action, without visiting a bank branch or making a phone call.
“Savvy investors can turn IRAs into instant savings on their income taxes,” said Renaud Laplanche, CEO of Lending Club. “People who start a Lending Club IRA between now and April 15 can apply the contribution to last year's tax return.”
More information on Lending Club's No-Fee IRA and details and restrictions on opening an account are available at https://www.lendingclub.com/public/individual-retirement-accounts.action. Additional information about Lending Club is available in the prospectus for Lending Club's notes, which can be obtained on Lending Club's Web site at http://www.lendingclub.com/info/prospectus.action.
About Lending Club
Lending Club is a lending network bringing together investors and creditworthy borrowers. Lending Club eliminates the high cost and complexity of traditional bank lending to offer borrowers better rates and investors better returns. Lending Club won the Webby Award in 2008 for the "Best Banking Website" and has been nominated for "Top 100 Innovators" by The Industry Standard. It was recently recognized as one of the 20 "Breakthrough Ideas for 2009" by Harvard Business Review. Founded in 2006, Lending Club is headquartered in Redwood City, CA. More information is available at: http://www.lendingclub.com.
Lending Club Notes are only offered by a prospectus filed with the SEC which contains the risks and uncertainties related to any investment in the Notes. Currently only residents of the following states may invest in Lending Club notes: CA, CO, CT, DE, FL, GA, HI, ID, IL, KY (accredited investors), LA, ME, MN, MO, MS, MT, NH, NV, NY, RI, SC, SD, UT, VA, WA, WI, WV, or WY.
Loans are not issued in IA, ID, IN, KS, ME, MS, NC, ND, NE, or TN. Loans are issued by WebBank, an FDIC insured Utah chartered industrial bank located in Salt Lake City, Utah. Borrowers must be US citizens or permanent residents and at least 18 years old. Valid bank account and social security number are required. All loans are subject to credit approval.
About Entrust Administration, Inc.
Entrust Administration, Inc. is the premier provider of account administration services for self-directed retirement plans. For more than 27 years, Entrust has been an acknowledged authority in the field of self-directed retirement accounts. Entrust is committed to the classic American goal of financial independence, especially during retirement. As securing retirement becomes increasingly challenging, some investors want to learn about and take advantage of a wider range of investment opportunities to attain their goals. We are the leaders in self-directed plans, custodial services, and educational curriculum to build wealth with investments that clients know, understand and control.