in Marketplace Investing

Claimed Visit Site



in Marketplace Investing

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote
Cast your vote

Would you recommend Prosper to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend


Prosper, one of the largest peer-to-peer lending marketplaces in the United States, provides customers who have good credit with a fast way to borrow money at low fixed interest rates. The company is based in San Francisco, California, has more than 2.2 million members and has furnished over $2 billion in loans.

How Does It Work?

As a peer-to-peer lending platform, it uses crowdsourcing to connect borrowers with individual investors who have access to the credit scores, ratings and histories of borrowers. Investors may also decide who to lend money to based on the profile descriptions of borrowers, community affiliations and endorsements from friends.

What Are The Interest Rates and Fees?

The P2P business model reduces transaction costs and interest rates, as well as allowing loans to get processed at speeds traditional banks can't even begin to match. Prosper generates income by charging borrowers a one-time fee for every loan and an annual loan fee to investors.

What About Documents & Process?

Prosper loans do not require any type of collateral and you can use the money for practically any purpose: including debt consolidation, an auto loan or a short term bridge loan. There are no prepayment penalties so the sooner you pay off the loan the less interest you will pay. If you provide all the required information and documentation you can expect to receive a reply to your application within two to four days.

What Are The Eligibility Criteria?

If your credit score is above 640, you can apply for loans ranging from $2,000 to $35,000. However, borrowers with lower credit scores may only qualify for smaller loans and will pay higher interest rates. Borrowers may request loan terms of up to 5 years, but the longer the loan terms the higher interest.

Prosper as an Investment

If you are interested in becoming a peer-to-peer lender, Prosper is a particularly good choice. Depending on your risk tolerance, you can make anything from 5% to 10% interest on your savings, which is considerably higher than the 4% to 5% offered by Lending Club.

Is Prosper Personal Loans Better Than Others?

Prosper provides borrowers with an attractive alternative to conventional banks and credit cards. The interest rates are competitive, the approval rates are fast and the money is directly deposited in your account. Interest is based on the current loan balance, so there is no penalty for paying the loan early.

SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


  • Headquarters
  •   221 Main Street, Suite 300
    San Francisco, CA 94105 USA
  •   Visit Site

Other Services by Prosper

Feature Breakdown

Investor Fees 1%
Minimum Investment $25
Average ARR 9.33%
U.S. Investors  

Be the first to rate


Would you recommend Prosper to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

Other Marketplace Investing