10 Best Personal Loans of 2018
We compared the Best Personal Loan Lenders
Fast & Easy Online Applications

Prosper At A Glance

Loan Type Secured and unsecured personal loans
Loan Amount $2,000 to $40,000
Repayment Terms 36 - 60 months
Typical APR 6.95% - 35.99%
Origination fee 2.4% - 5%
Time to funding 1 to 3 business days
Soft credit check? Soft pull
Best for Borrowers with average credit score.Debt consolidation

Prosper Overview

Prosper was founded in 2005 as the first peer-to-peer lending marketplace in the United States. Since then, Prosper has facilitated more than $12 billion in loans to more than 770,000 people.Through Prosper, people can invest in each other in a way that is financially and socially rewarding. Borrowers apply online for a fixed-rate, fixed-term loan between $2,000 and $40,000. Individuals and institutions can invest in the loans and earn attractive returns. Prosper handles all loan servicing on behalf of the matched borrowers and investors.

Application Process

Prosper doesn’t fund loans with its own money like some online lenders do. The company underwrites applicants and matches investors with approved borrowers.Borrowers apply prosper personal loan should meet following criteria:

  • Minimum credit score: 640
  • Minimum credit history: Two years
  • Maximum debt-to-income ratio: 50%
  • Physical Address

    221 Main Street, Suite 300
    San Francisco,
    CA 94105