Prosper Personal Loan Review

Finding a proper loan with moderate interest rates and preferable conditions is quite a difficult task for a vast majority of people.

However, if you have an excellent credit score, borrowing money for personal expenses will take a few minutes.

The main trick is to browse an easy-to-use website and apply for the loan with Prosper.

The online peer-to-peer lending platform provides incredible opportunities for those, who have a high credit score.

About Prosper

Prosper personal loan helps match qualified borrowers with investors to negotiate reasonable rates and conditions that would satisfy both parties.

Considering the loan with Prosper, you can expect a beneficial rate, user-friendly design, convenient conditions and rather simple application process.

You can be sure it will not take more time than a usual application.

Prosper Personal Loan Review

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Just browse the website, enter your personal information, including the place of living and work, amount of money you want to get, goal of the loan and similar details into Prosper service and wait to get loan quotes.

Then the borrower can choose the best suiting quote and get a necessary loan.


The process of getting a loan is clear and easy. After you have applied for Prosper loan and filled in all the required details, your application gets transferred to Prosper Marketplace, where the investor may react to it offering certain interest rates, conditions and other specifications.

Next, individual investors can fund your loan in different amounts, starting with $25 and till the moment it is completely funded.

Occasionally, borrowers may have numerous investors competing in their requests that leads to a decreased interest rate, which is definitely more beneficial for a borrower.

The overall time your application will stay on the marketplace is 14 days. During this time you can get your loan fully funded.

Simultaneously, Prosper collects extra information about the user, especially proofs of his/her identity, income and other features.

Finally, you just need to select the lender and receive the necessary sum of money.


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Conditions, Rates and Fees of Prosper

Since Prosper strives to keep its integrity, the platform offers proper personal loans for clients and high safety level for lenders.

There are certain limitations and standards for the borrower, lender and the loan itself. Thus, the minimum credit score the borrower should have to apply equals to 640 points. The interest rate may vary from 5.99% to 36% APR.

The total sum of money available also ranges from $2,000 to $35,000. Instant approval is another impressive feature of this loan type, even though funding may take up to two weeks.

The overall loan term is 3-5 years.


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Clear conditions, rates and fees are undoubtedly peculiar features of Prosper platform that differentiate it from others.

Apart from all the payments and fees, there may appear certain penalties and extra fees, including:

  • Origination fee that ranges from 1% up to 5% depending on the score within Prosper;
  • Late payments will cost you 5% or 15% of the amount due.

Additionally, keep in mind that only active borrowers with proper credit history may apply for Prosper personal loan and take the advantage of its conditions, services and offers.

1 Comment
  1. Andrew says

    While other companies promise long-term loans with diverse interest rates, Prosper is the lender, which attracted me with simplicity and ease of the application and loan use. The platform does not offer durable options, as the term ranges from 3 to 5 years. It was the thing I needed, so I borrowed over $5,000 for 3 years. As my credit history was almost perfect, I got an extra discount, so the interest rate was reasonable.

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