Lending Club and Prosper allow for tax efficient investing on their platforms through an IRA; Lend Academy provides details on opening an IRA with Lending Club or Prosper and explains why investing in P2P lending is best done through an IRA. Source
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Scott first looks back at 2016, how Lending Club was able to overcome adversity and highlights some of the leading lenders in the space like SoFi and OnDeck; he makes the comparison that online lending is a lot like online retail and there are many lessons to be learned; just like customers in retail the customers in banking do not want to go to the local branch to get a loan, they want to have a seamless digital experience like they already have with the likes of Amazon; Scott offers three ideas to define the next decade for a stronger industry, evolve the customer experience, unleash the platform's potential and amplify the core innovations that serve customers; he finishes up with a few questions from audience members. Source
Scott Sanborn provided the opening keynote presentation at LendIt USA 2017; the appointment of Sanborn has been a critical success factor for Lending Club and the marketplace lending industry; in his presentation he discusses the challenges of 2016 and the significant growth opportunity that still remains ahead; compares the market's potential to the growth of Amazon; provides insight on important factors for growth over the next ten years.
Lend Academy provides details on the tax documents you will receive as an investor in Lending Club or Prosper loans; most investors will receive a 1099-OID which details taxable interest income from investing; other forms may also include a 1099-MISC or a 1099-B; income earned from P2P loan investing is taxed as ordinary income; Lend Academy also outlines details on capital losses and capital loss carryovers which can vary by state. Source