Is Prosper Personal Loans the right fit for you?
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, Prosper Funding LLC will send the money in as little as 24 hours.
- 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.
- Coborrower applications accepted. Applying for Prosper Personal Loans with a coborrower who has better credit than you could improve your chances of approval and may help you qualify for lower interest rates.
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. Note that borrowers can add a co-borrower to either meet eligibility requirements or qualify for lower interest rates.
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 |
| Application Types Accepted |
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| 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.
SuperMoney Disclosure: SuperMoney.com 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...
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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Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed
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SuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +17, or 3.3 on a 5-point rating scale.
+17
-1000+100
No one recommends
Everyone recommends
Prosper Personal Loans Community Reviews
Would you recommend Prosper Personal Loans to your friends?
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
I would reccomend people try because this service isnt bad at all.
CH
Chaster H.
Oct 24, 2022
May or may not recommend
Personal loans are for desperate times! If you need a personal loan here is a company that can help you find a loan that will work for you.
RL
Rin L.
Sep 3, 2022
May or may not recommend
I would reccomend people try because this service isnt bad at all.
JN
Joel N.
Dec 21, 2021
May or may not recommend
I wouldn't recommend this company to anyone looking for a personal loan. I had a personal loan with them. Horrible. That's all I can say. Stay away!
Andrew H.
Aug 11, 2021
May or may not recommend
Good for small loans that banks won't touch. Can be a bit pricey for riskier borrowers.
KK
Kathleen K.
Mar 7, 2021
May or may not recommend
Prosper has been a life-saving resource for me. I needed money to make a deposit on a apartment by my new job, and I did not have the money at the time. A friend told me about Prosper. They approved me for 3,000 dollars. I love my new apartment
Justina G.
Feb 24, 2021
May or may not recommend
Always great service with the loans I took out. Quick and painless. Interest rate was way better than my credit cards and liked the advantage of having the option of choosing my loans term length.
HO
Hayden O.
Jan 11, 2021
May or may not recommend
It is very hard to "Recommend" services like Prosper as I view these as options that are only good when you are in a tight spot. The main benefit of a Prosper Personal Loan is to space out high interest debt into manageable monthly chunks. If you are in a tight spot and need quick cash this may be one of your only options.
While they do have high APR products, ...Show More
EK
Edwin K.
Jan 2, 2021
May or may not recommend
Personally what made me get a prosper personal loan is that they have longer terms to payback the loan,this made it affordable for me to keep up with the monthly payments.With prosper personal loans you can even borrow larger loans without the fear of keeping up with the payments.The downside is that they have higher interest rates compared to other money lending companies.
JA
Jacob A.
Dec 23, 2020
May or may not recommend
To be completely honest from the reviews, I very hesitant to use this service, but due to my credit, choices were limited. If anyone is in the same boat, then you understand. In the end, my requirements were met. It was a little bit more pricey but best suited me.
CF
Christopher F.
Oct 28, 2020
May or may not recommend
Prosper Personal Loans charges origination fee. For me, that is a turnoff. However, they offer flexible payment deadlines plus no repayment fees, which made borrowing very easy for me to consider while contemplating. I think this is enough for me, tho. Generally, I think Prosper Personal Loans is 7.5/10. I recommend
JB
Jenni B.
Oct 26, 2020
May or may not recommend
Prosper Personal did not qualify me due to have a score below 650.
OD
Olayemi D.
Oct 18, 2020
May or may not recommend
Prosper personal loans offer free and easy access to cash. They provide pre-qualified rates and require low registeration fee.
The Prosper personal loan is a very good loan. It solved my financial problems. It is an highly recommendable loan body.
SC
Steven C.
Oct 18, 2019
May or may not recommend
kept sending preapproved offers and when applying was denied. just kept flooding my email with preapproved offers.
MF
Michael F.
May 14, 2018
May or may not recommend
MOST OF US APPLYING FOR A PERSONAL LOAN WITH PROSPER, IS IN A FINANCIAL BIND, AT LEAST . STRETCHING FROM ILLNESS, JOB LOSS OR WORK SLOW DOWN, AMONG OTHER PROBLEMS. WHO IN THERE RIGHT MIND WOULD PERUSE A LOAN FOR 35%, IF THEY WERE NOT IN A REAL BIND. THE SITUATION WE FIND OURSELVES NEVER HELPS OUR CREDIT RATINGS. BUT YOU USE IT AS AN AX. I REALIZE THERE ARE ...Show More
CS
Carl S.
Nov 7, 2017
May or may not recommend
Terrible site.
Looking to consolidate higher credit card rates.
Interest rates provided by this site were higher than my current credit card rates!
I would not recommend!
Brett J.
Dec 1, 2016
May or may not recommend
I don't want to sound like I am gushing but... Prosper is the easiest company *by far* that I have ever dealt with when trying to obtain a personal loan. It was easy to get approved & funded and all of my payments have been properly processed. Interest rates are very fair too. Highest recommendation!
U
Anonymous
May 27, 2016
May or may not recommend
I've not used them before, this is my first time. So far , so good.
Martin S.
Jan 8, 2015
May or may not recommend
Having read some negative reviews about Prosper at other review sites, I had my doubts about their service. first off, my credit rating is prtty good - a 730 credit rating and I am 60 years old, I own my own home, have been employed by a Fortune 50 Company for 2 years, have plenty of income, and only 2 credit cards which I wanted to consolidate to pay ...Show More
Matt S.
Jan 6, 2015
May or may not recommend
I was sanctioned for a credit however can't get on to acknowledge. I reached client benefit 4 times. I've utilized 3 diverse pc's 2 programs and 2 wifi' without any result. In the event that I can't overcome to acknowledge the advance on the grounds that it keeps on looking and the best way to acknowledge is on the web. (They won't do it over email or fax or sweep) ...Show More
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