3.5  

About Prosper

Prosper is a peer-to-peer lending platform that sources personal loans for borrowers with credit scores over 600. In addition to credit score, borrowers are assigned a “Prosper score” that considers credit, debt-to-income ratio and other factors.

Most loans are funded within two weeks of application. In addition to unsecured personal and debt consolidation loans, Prosper has a home equity credit option for qualifying borrowers.

Overview

Interest rate: 7.95-35.99%
Loan terms: 36 or 50 months
Loan amounts: $2,000 to $40,000

Years in Business – Since 2005
BBB Rating – A+

Editorial Rating

3.5 Fair

“A peer-to-peer lending platform that provides secured and unsecured loans to borrowers with fair credit scores.”

Benefits and Features

Minimum credit score: 600
Soft credit check to pre-qualify
Get funding in 14 days

Payment date flexibility
Available in all 50 states
Online application and approval

Pros

  • Option to change your payment date
  • Offers joint loans
  • Offers a wide range of loan amounts

Cons

  • No rate discount for autopay
  • Funding time can be longer than many lenders
  • Charges origination and late fees
  • Borrowers can choose from only two repayment term options

TrustedCompanyReviews.com is not a provider of debt consolidation or resolution. Ratings that appear on this site are determined by our subjective opinion and are based on an analysis that aggregates a company’s reputation, services, general consumer interest, fees and features. Listings that appear on this site are not endorsements.

TrustedCompanyReviews.com is not a provider of debt consolidation or resolution. Ratings that appear on this site are determined by our subjective opinion and are based on an analysis that aggregates a company’s reputation, services, general consumer interest, fees and features. Listings that appear on this site are not endorsements.

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Advertising Disclosure

This site is a free online resource that offers helpful reviews and company comparisons to its visitors. The site operator may accept advertising compensation from some of the companies that appear on the site. This compensation may impact the location and order in which companies or their products are presented. Ratings that appear on this site are determined by our subjective opinion and are based on a brand or product’s market share, reputation, services, conversion rates, general consumer interest, fees and features. Company listings or rankings that appear on this site should not be construed as endorsements. Any relationship that you may form with the third parties that may be advertised or listed on this site is exclusively between you, as the consumer, and those third parties. All representations and warranties regarding the information presented on this site are disclaimed. The information, including pricing, which appears on this site is subject to change at any time. Not all companies, websites, products or services that may be available to you have been reviewed by this website.

Trusted Company Reviews may earn commission from qualifying purchases made as a result of our reviews and content.

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