Prosper: Personal Loan Review
Updated: January 5, 2021
Personal Loans
Personal Loan ReviewsProsper
Updated: January 5, 2021
Estimated APR
Min. Credit Score
Max. DTI 
Debt to Income Ratio
Origination Fees
Late Penalties
Prepayment Fees
Prosper allows consumers to borrow smaller amounts of money and accepts joint applicants for those who don’t qualify independently, but the origination fee, potentially high rates, and limited term options could be a deterrent.
Apply Now
Fixed payments
Fixed rates
No prepayment penalty
Loan Amounts
Loan Terms
Time to Funding
Lender description Prosper is a peer-to-peer lending platform that offers a wide variety of loans and home equity lines of credit (HELOCs).
How to qualify You’ll need to be a U.S. resident in a state where Prosper loans are available with a personal bank account and Social Security number.
How to apply Apply online by providing your loan amount and purpose, basic personal information, and income and employment information.
COVID-19 resources Prosper has created a special contact email for customers affected by COVID-19.
Footprint Prosper loans are available in 48 states and Washington, D.C. Loans aren't available in Iowa and West Virginia.
Loan example A three-year, $10,000 personal loan would have an interest rate of 11.74% and a 5% origination fee for a 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.90. A five-year, $10,000 personal loan would have an interest rate of 11.99% and a 5% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39.