Last Updated: 12/17/2025
SuperMoney User Recommendation Score +17
Mostly recommended23 total votes
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Highlights
Community Rating
Mostly recommended
APR (Fixed APR)
8.99% - 35.99%(Verified 08/07/2025)
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Amount Range
$2,000 - $50,000
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Loan Term (Months)
24 - 60
Number of Reviews
Prosper Personal Loans Review
Prosper Personal Loans is offered by Prosper Funding LLC, a marketplace lending platform founded in 2005 and based in San Francisco, CA. Prosper loans are available in 47 states and Washington, DC.
Key Takeaways
- APRs starting at 8.99%. Personal loan interest rates typically range between 9% and 36%. The starting rates for Prosper Personal Loans are on the lower end of the spectrum.
- Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
- Large loan amounts. You can apply for loan amounts of up to $50,000 with Prosper Personal Loans .
- Prequalified rate. You can check your prequalified rate at Prosper Funding LLC with a soft pull that will not affect your FICO or VantageScore.
- Origination fees of 1% to 9.99%. This is on the high end for lenders on SuperMoney's database. Don't forget that these fees are deducted from the loan amount, so take them into account when deciding how much money to borrow.
Prosper loans Pros & Cons
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Prosper loans FAQ
What interest rates and personal loan terms does Prosper loans offer?
What interest rates does Prosper loans offer?
Prosper loans offers a fixed APR personal loan product that ranges from 8.99% APR up to 35.99% APR.
How much can you borrow via Prosper loans?
Personal loan amounts start at $2,000 and go up to $50,000
What is the maximum loan term you can get with Prosper loans?
Prosper loans offers loans with terms of up to 60 months.
| Personal Loan Amount | $2000 - $50000 |
| Loan Term | 24 - 60 months |
| APR | 8.99% - 35.99% |
What fees does Prosper loans charge?
Does Prosper loans charge an origination fee?
Prosper loans may charge a personal loan origination fee of 1% to 9.99% of the personal loan amount . Prosper loans deducts the origination fee directly from your personal loan amount, so make sure you take this fee into account when deciding how much you need to borrow.
Does Prosper loans charge a late fee?
Yes, Prosper loans may charge a late payment fee if you miss one of the regularly scheduled payments of up to $15.
Does Prosper loans charge prepayment fees?
No, Prosper loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | 1% - 9.99% |
| Prepayment Fee | No |
| Late Payment Fee | $15 |
What do you need to qualify for Prosper Personal Loans?
Applicants with a credit score of at least 600 and up to 850 may be eligible for Prosper Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Prosper Personal Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Prosper Personal Loans.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking account
- Recent pay stubs
- Proof of income
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | Yes |
| Credit Score | 600 - 850 |
What is the estimated funding time for a personal loan via Prosper loans?
Prosper loans will typically fund loans within 1 to 5 business days of approval and clearing necessary verifications.
Does Prosper Personal Loans report your account activity to credit bureaus?
Yes, Prosper Personal Loans reports to the following credit bureau:
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Prosper Funding LLC perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Prosper loans allows you to check your rates with a soft credit pull.
Are Prosper Personal Loans legit?
Prosper Funding LLC was founded in 2005, it is a well-established company that has been in business for 21 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.
Prosper Personal Loans Disclosure: Terms presented, including APR and monthly payment amount, are estimated and created based on information entered by you and through analysis of historical data on loans through Prosper. Your eligibility for a loan and actual terms depend on the information you provide in your application, and other variables including, but not limited to, your credit score, Prosper Rating, loan amount, loan term, employment and income details, credit usage and history. Eligibility for personal loans up to $50,000 depends on a number of factors, including (but not limited to) your financial history, credit score, monthly income, and monthly expenses. Eligibility for personal loans is not guaranteed, and requires sufficient investor commitments to fund. Your monthly payment amount may be different in the final month of your loan.
Personal loans through Prosper have an annual percentage rate (“APR”) of 8.99% to 35.99%, terms between two and five years, and an origination fee from 1% to 9.99%. For example, a three-year $10,000 personal loan with an interest rate of 16.66% and a 8.99% origination fee results in a 23.53% APR. You would receive $9,101.00 and make 36 scheduled monthly payments of $354.84. A five-year $10,000 personal loan with an interest rate of 18.73% and a 8.99% origination fee results in a 23.26% APR. You would receive $9,101.00 and make 60 scheduled monthly payments of $257.92. The average APR for loans with a 3-year term funded between January 1, 2025, and June 30, 2025, was 23.53%.
Whether you are eligible for a specific APR or loan term will depend on a number of factors, including (but not limited to) your current credit rating and information you provide in your application. The lowest rates are for the most creditworthy applicants. Your actual rate may differ.
You may receive your funds one business day following your acceptance of the loan offer, completion of all necessary verification steps and final approval. One business day funding is also dependent on your bank’s transaction processing speed.
All personal loans made by WebBank.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from Prosper loans
Message from our editor
What we love about Prosper Personal Loans
Prosper operates a personal loan marketplace, which means that borrowers can get loans funded by other people just like them. Often, loans through Prosper are faster and easier to get than loans from a traditional bank or lender. Prosper allows borrowers to get loans for almost any reason, though consolidating high-interest debt into a lower interest personal loan is one of the more popular reasons.
Loans from Prosper have low minimums, meaning you can borrow even for small needs without having to take on more debt than necessary. You can also choose from multiple repayment terms to customize your monthly payment.
What could Prosper Personal Loans do better?
One drawback of Prosper is its credit requirements. Some peer-to-peer lenders are more flexible than Prosper. Based on Prosper’s requirements, most applicants who qualify would also be able to get loans from traditional lenders. Traditional personal lenders may offer better rates than Prosper can.
Prosper also has relatively low maximum loan amounts and high interest rates compared to much of the competition. If you need to borrow a very large amount, you may have to work with a bank or other personal lender. The company also doesn’t offer a secured loan option, which could help reduce interest rates or make qualifying easier.
Prosper Personal Loans’s backstory
Prosper was founded in 2005 as a peer-to-peer lending marketplace. The company helps match people who want to invest in consumer debt with borrowers who need loans. The company has helped fund over $5 billion in loans.
The Verdict
If you’re in need of a personal loan, Prosper is worth checking out, but you should still take the time to shop around. If your bank offers personal loans, there’s a good chance you can get a better deal, especially if your bank offers an existing customer discount or other benefits.
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