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Prosper

Prosper landed on our list as one of the best options for personal loans. Prosper offers unsecured personal loans with a fixed rate from $2,000 to $35,000 with loan terms available between 3 to 5 years depending on the borrower qualifications and the loan amount. Along with one of the most attractive market rates (APR from 5.99%), these loans are offered without pre-payment penalty in case you want to pay your loan early or to simply make partial advance payments. Prosper is a peer-to-peer lending platform which completely removes any broker or middle man out of the equation by providing a way to connect directly people who need money with those who have money to invest (not necessarily lenders), so that everyone prospers.

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Prosper Availability

Prosper.com offers its online lendng services through all the United States. Without a doubt, this is great news for most people looking for low APR loans.

If you are looking for a loan with a low interest rate and your credit score is at least 640, definitely Prosper is your best choice along with UpStart to get a personal loan with low interest rates. For people with at least 640 credit score, those two are our most recommended lenders. How does Prosper work? If you apply for a loan with Prosper, its platform basically creates a listing (after borrower’s requirements are met) with your credit information, the amount you need and why you need it. The platform gives you a score from AA to E base on you information and credit history.

The possibilities of getting a loan approval are higher than with a regular lender since your loan application in Prosper.com is seen by thousands of ordinary people like you and me that invest (from $25 up to thousands) and earn money from the accrued interest. You can receive funds not just from one person, but hundreds of people who may consider that you will repay the loan faultless not only because your rating as a borrower indicates so, but because they may feel related to your cause regarding your loan application. Prosper.com has brought a human face to the industry of online lending.

Prosper Reviews & Loans

Prosper.com is a marketplace that allows people to invest in other people in a way that is economically and socially rewarding for both parties. Through Prosper, borrowers – upon met requirements – list and describe their loan request from $2,000 to $35,000; and individual lenders can invest as little as $25 in each request. In addition to credit scores, income or employment history; investors can consider the borrowers personal stories or loans motives as a decision factor. Prosper handles the servicing of the loan on behalf of the matched borrowers and investors.

Prosper

Peer-to-peer loans up to $35,000 with fixed APR from 5.99% and terms up to 5 yrs for qualified borrowers with at least 640 credit score.

Up to $35,000

  • Peer to peer loans
  • Loans from $2,000 up to $35,000
  • Low APR from 5.99%
  • Terms up to 3-5 years

To apply for a loan through the Prosper.com platform, please consider the following:

  • Purpose of the loan
  • Minimum credit score of 640
  • Amount requested
  • Credit report
  • Proof of identity
  • Proof of residence
  • Proof of income
  • Employment status

The terms or loan repayment length obtained through Prosper.com basically are derived from the loan amount per se altough it can reach up to 3 to 5 years. Make sure to agree to the terms only if beneficial. The borrower can also apply for short-term loans if considered appropriate. Interest rates are directly related to the borrower qualification or classification received by Prosper algorithms based on your credit history and income.
Even though Prosper.com works as a platform 100% online, it has a trained team of customer service representatives exclusively dedicated to both borrowers and investors. Its opening hours are Monday to Friday from 8am to 9pm (EST). Prosper is registered frand of Prosper Funding LLC with its main headquarters in 221 Main Street, Suite 300 San Francisco, CA 94105

In conclusion, Prosper is very useful if you have a minimum credit score of 640 since you are a viable candidate for a loan through Prosper.com with a lower interest rate than the average lender. What we like the most about Prosper is that it has a very visible human side where people, like you and I, who invest in Prosper, can sympathize with your cause or story and help to fund the loan.

Prosper offers peer-to-peer loans up to $35,000 with fixed APR from 5.99% and terms up to 5 years for qualified borrowers with at least 640 credit score.
9.7 Total Score
Peer to Peer

Peer-to-peer loans up to $35,000 with fixed APR from 5.99% and terms up to 5 yrs for qualified borrowers with at least 640 credit score.

Ease of Use
9.5
Terms
10
Speed
9.5
Privacy
9.5
Support
10
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Prosper

Peer-to-peer loans up to $35,000 with fixed APR from 5.99% and terms up to 5 yrs for qualified borrowers with at least 640 credit score.

Up to $35,000

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