Prosper Personal Loans

in Personal Loans from Prosper Funding LLC

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Prosper Personal Loans


in Personal Loans from Prosper Funding LLC

SuperMoney Net Recommendation Score -20% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Mostly not recommended

6 users recommend
4 users are unsure
10 users don't recommend
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Community Rating Mostly not recommended
Loan Amount $2,000 - $40,000
APR  (Fixed APR) 6.95% - 35.99%
Loan Term 36 - 60 months
Number of Reviews 20

Prosper Personal Loans Review

Prosper Personal Loans is a personal loan offering by Prosper Funding LLC, a marketplace lender based in San Francisco, CA. Founded in 2005, Prosper Funding LLC offers access to personal loans in 48 states (and Washington, DC).

What rates and terms does Prosper Personal Loans offer?

What personal loan APRs does Prosper Personal Loans offer?

Prosper Personal Loans offers a fixed APR personal loan product that ranges from 6.95% APR up to 35.99% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Prosper Personal Loans?

Loan amounts start at $2,000 and go up to $40,000.

What can a personal loan from Prosper Personal Loans be used for?

Personal loans from Prosper Personal Loans are typically used for special purchases, debt consolidation, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.

What is the maximum loan term you can get with Prosper Personal Loans?

Prosper Personal Loans offers personal loans with terms ranging from 36 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Prosper Personal Loans Rates & Terms
Loan Amount $2000 - $40000
Loan Term 36 - 60 months
APR 6.95% - 35.99%

What fees does Prosper Personal Loans charge?

Does Prosper Personal Loans charge an origination fee?

Prosper Personal Loans charges a loan origination fee of 2.4% to 5% of the loan amount. Prosper Personal Loans deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does Prosper Personal Loans charge a late fee?

Yes, Prosper Personal Loans may charge borrowers a late payment fee, which is triggered if you're 15 days late.

Does Prosper Personal Loans charge prepayment fees?

No, Prosper Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

Prosper Personal Loans Fees
Origination Fee 2.4% - 5%
Prepayment Fee? No
Late Payment Fee N/A

What do you need to qualify for a loan with Prosper Personal Loans?

Applicants with a credit score of at least 640 can apply for a loan via Prosper Personal Loans . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

To qualify for a Prosper Personal Loans loan, applicants need a minimum annual income of $60,000 or higher. Prosper Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay the loan requested.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via Prosper Personal Loans. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income
Prosper Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Joint Applications Accepted? Yes
Credit Score 640 - 850

What is the estimated funding time for a personal loan via Prosper Personal Loans?

Prosper Personal Loans will typically approve (or deny) a loan application within 168 hours and fund personal loans within 7 business days of approval.

Does Prosper Personal Loans report loan payments to credit bureaus?

Prosper Personal Loans may report credit data to the following credit reporting agencies:

  • Transunion
PROSPER PERSONAL LOANS Disclosure: For example, a three-year $10,000 loan with a Prosper Rating of AA would have an interest rate of 5.31% and a 2.41% origination fee for an annual percentage rate (APR) of 6.95% APR. You would receive $9,759 and make 36 scheduled monthly payments of $301.10. A five-year $10,000 loan with a Prosper Rating of A would have an interest rate of 8.39% and a 5.00% origination fee with a 10.59% APR. You would receive $9,500 and make 60 scheduled monthly payments of $204.64. Origination fees vary between 2.41%-5%. APRs through Prosper range from 6.95% (AA) to 35.99% (HR) for first-time borrowers, with the lowest rates for the most creditworthy borrowers. Eligibility for loans up to $40,000 depends on the information provided by the applicant in the application form. Eligibility is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All loans made by WebBank, member FDIC.
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  • Headquarters
  •   221 Main Street, Suite 300
    San Francisco, CA 94105 USA
  •   Visit Site

Message from Prosper Funding LLC

Prosper was founded in 2005 as the first peer-to-peer lending marketplace in the United States.

Other Services by Prosper Funding LLC


Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 48 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee  
Late Fee After (number of days) 15
Origination Fee 2.4% - 5%
Minimum Age 18
Credit Score Range 640 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income $60,000
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Individual Applications
Verification Documents Required
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount $2K - $40K
Loan Term 36 - 60 months
APR (Fixed APR) 6.95% - 35.99%

Prosper Personal Loans Community Reviews


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