SuperMoney logo
SuperMoney logo

Prosper vs Upstart Comparison: Rates, Fees & Funding Speed

Ante Mazalin avatar image
Last updated 08/13/2025 by
Ante Mazalin
Edited by
Andrew Latham
Andrew Latham
Summary:
Deciding between Prosper’s peer-to-peer lending model and Upstart’s AI-driven underwriting can feel overwhelming—especially when you’re weighing rates, fees, and approval odds. In this “Prosper vs Upstart” comparison, we’ll break down loan amounts, APRs, origination fees, funding speed, and unique features so you can choose the right path for your next personal loan.

Get Competing Personal Loan Offers In Minutes

Compare rates from multiple vetted lenders. Discover your lowest eligible rate.
Get Personalized Rates
It's quick, free and won’t hurt your credit score

Side-by-Side comparison Prosper vs. Upstart

FeatureProsperUpstart
Loan Amounts$2,000 - $50,000$1,000 - $50,000
APR Range8.99% - 35.99%6.53% - 35.99%
Loan Terms24 months - 60 months36 months - 60 months
Minimum Credit Score600 - 850620 - 850
Origination Fees1% - 9.99%0% - 12%
Late Payment Fee$15$15
Prepayment FeeNoNo
Checking Account RequiredYesYes
Pre-Qualified Soft Credit InquiryYesYes
SuperMoney User Scoremostly recommendedstrongly not recommended

About Prosper

Prosper is a peer-to-peer lending marketplace that matches you with individual investors. You can borrow $2,000 - $50,000 with APRs from 8.99% - 35.99% over 24 months - 60 months terms. Origination fees range from 1% - 9.99%, and once approved, funding typically takes 3–5 business days.
Main Features
  • Loan amounts: $2,000 - $50,000
  • APR range: 8.99% - 35.99%
  • Terms: 24 months - 60 months
  • Origination fee: 1% - 9.99%
  • Prequalification: Soft pull
  • Funding speed: 3–5 business days
WEIGH THE RISKS AND BENEFITS
Here is a list of the benefits and drawbacks to consider.
Pros
  • Peer-to-peer model can offer competitive rates for solid profiles
  • No prepayment penalties
  • Option to rate-shop without impacting credit
  • Co-borrower option to boost approval odds
Cons
  • Funding can take up to 5 business days
  • Origination fees up to 9.99
  • Strict credit requirement (min score 600)
  • Only two term options (24 months - 60 months)

About Upstart

Upstart uses an AI-driven underwriting model that factors in education, employment history, and credit data. Loans range from $1,000 - $50,000 with APRs from 6.53% - 35.99% over 36 months - 60 months terms. There’s an origination fee between 0% - 12%, and funds often arrive by the next business day.
Main Features
  • Loan amounts: $1,000 - $50,000
  • APR range: 6.53% - 35.99%
  • Terms: 36 months - 60 months
  • Origination fee: 0% - 12%
  • Prequalification: Soft pull
  • Funding speed: Next business day
WEIGH THE RISKS AND BENEFITS
Here is a list of the benefits and drawbacks to consider.
Pros
  • AI model may approve borrowers with limited credit history
  • Rapid, next-day funding
  • Soft credit pull for prequalification
  • No early repayment penalties
Cons
  • Origination fees can reach 12
  • No cosigner or co-applicant option
  • Higher APRs for riskier profiles (up to 35.99)
  • Limited term flexibility (36 months - 60 months)

Key Differences

  • Underwriting Approach
    • Prosper: Uses a traditional peer-to-peer model, matching you with individual investors who review your FICO score, debt-to-income ratio, and overall credit history. This straightforward, credit-score-centric process provides predictable qualification criteria but may exclude those with limited credit files.
    • Upstart: Leverages a machine-learning algorithm that incorporates non-traditional factors—such as education level, area of study, work history, and income—to assess risk. This allows some borrowers with thin or no credit history to qualify, though it can lead to wider variability in APRs based on those additional data points.
  • APR Floor & Ceiling
    • Prosper: APRs start at around 8.99 for the most creditworthy applicants and cap at 35.99 for higher-risk profiles.
    • Upstart: Offers a lower minimum APR (around 6.53), rewarding borrowers whose non-credit attributes boost their risk score, with a max of 35.99.
  • Loan Amounts & Use Cases
    • Prosper: Loans range from to 50000, ideal for mid-sized needs like credit card consolidation, medical bills, or small home improvements.
    • Upstart: Extends from up to 50000, giving borrowers more flexibility for both smaller and larger financing needs.
  • Origination Fees
    • Prosper: Charges an origination fee between 1% and 9.99%, deducted from your loan proceeds.
    • Upstart: Fees range from 0% to 12%, depending on individual risk profile.
  • Funding Speed
    • Prosper: After accepting your offer, expect funds in 3–5 business days.
    • Upstart: Delivers funds as soon as the next business day, making it one of the fastest personal-loan options available.
  • Co-Borrower & Cosigner Options
    • Prosper: Allows a co-borrower to boost approval odds or secure better rates by combining credit profiles.
    • Upstart: Does not support co-borrowers or cosigners; all responsibility lies with the primary applicant.
  • Term Flexibility
    • Upstart: Offers only 36 months - 60 months terms, keeping repayment structured and predictable.
    • Prosper: Provides slightly more flexibility with 24 months - 60 months terms.
By understanding how these facets differ—particularly underwriting style, fee structure, and funding speed—you can match your personal circumstances to the lender whose model best aligns with your credit profile, timeline, and financing goals.

Prosper is Best for:

  • Credit-Established Borrowers: Those with credit scores of 600+ seeking moderate loan amounts.
  • Peer-to-Peer Enthusiasts: People who prefer investor-backed loans and competitive mid-range rates.
  • Co-Borrowers: Applicants who want to combine credit profiles for better approval odds.

Upstart is Best for:

  • Thin-File Applicants: Borrowers with limited credit history but strong education or employment credentials.
  • Urgent Cash Needs: Anyone who needs funds by the next business day.
  • Willing to Pay Fees: Those who accept origination fees between 0 and 12 in exchange for broader approval criteria.

SuperMoney Users’ Ratings & What They Like Most

  • Prosper Personal Loans Review
    • Community Score: mostly recommended
    • What Users Praise: Competitive mid-range rates, co-borrower options, transparent process
  • Upstart Personal Loans Review
    • Community Score: strongly not recommended
    • What Users Praise: Fast funding, AI-based approvals, no prepayment penalties

What Next

To broaden your research, explore these side-by-side lender comparisons:
Explore calculators & tools: Use the Personal Loan Calculator on our SuperMoney Personal Loans hub to estimate your monthly payments under different rates and terms—no hard pull required.
Get prequalified: Take advantage of soft-pull prequalification on both platforms to compare personalized rate offers without impacting your credit.
Finalize your choice: Once you know which lender suits you best, click through to complete your application and secure funding:
  • Apply with Prosper for peer-to-peer rates and co-borrower options.
  • Apply with Upstart for AI-driven approvals and next-day funding.

Key Takeaways

  • Prosper offers $2,000 - $50,000 loans with APRs from 8.99% - 35.99%, peer-to-peer funding, and co-borrower options.
  • Upstart provides $1,000 - $50,000 loans at APRs from 6.53% - 35.99% with AI underwriting and next-day funding.
  • Prosper suits established credit profiles and co-borrower teams; Upstart favors thin-file applicants and urgent cash needs.
  • Both use soft pulls for prequalification—shop rates without impacting your credit score.

Share this post:

Table of Contents