Lending is back at Lending Club, but there are some new restrictions that I noticed when trying to lend:

First,  you must satisfy the Financial Suitability Standards and Investment Limits.  Those terms are as follows:

“I confirm that I (a) have an annual gross income of at least $70,000 and a net worth (exclusive of home, home furnishings and automobile) of at least $70,000; or (b) have a net worth (determined with the same exclusions) of at least $250,000. In addition, I agree that I will not purchase notes in an amount in excess of 10% of my net worth, determined exclusive of my home, home furnishings and automobile.”

Second, you must satisfy the state condition by living in one of the fifteen approved states.  Those terms are as follows:

“The Notes are presently being offered and sold solely to residents of the states of Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Louisiana, Minnesota, Mississippi, Montana, New York, Rhode Island, South Dakota, West Virginia, and Wisconsin, and are not presently being offered or sold to residents of any other state, the District of Columbia, any other territory or possession of the United States, or any foreign country.”

I meet the first criteria, but the second one prevents me from Lending.  I suspect that more states will be added over time, much as they were when Lending Club first began.  Until I’m eligible to lend again, I’ll be monitoring the situation very closely.