Reviews
Prosper Personal Loan review: how does it work and is it good?
Prosper's fast funding and large borrowing amount make them a good choice for those needing quick cash. Learn more about it in this Prosper Personal Loan review. Read on!
Advertisement
Prosper Personal Loan: Perfect for bad and good credit
Are you looking for a personal loan to cover a big expense? If so, you may have come across Prosper as an option. In this Prosper personal loan review, we’ll closely examine what this lender has to offer.
How to apply for Prosper Personal Loan
Find out how to apply for the Prosper Personal Loan and quickly get the money you need. Read on!
We’ll also look at this loan’s advantages and drawbacks to help you decide if Prosper is the right choice for you. Read on!
- APR: From 6.99% to 35.99% variable APR;
- Loan Purpose: Debt consolidation, home improvement, medical bills, financing a car, going on vacation, etc.;
- Loan Amounts: From $2,000 to $50,000;
- Credit Needed: 560 or higher;
- Origination Fee: The origination fee ranges between 1% and 5%;
- Late Fee: The late fee will be 5% of the monthly payment amount or $15, whichever is greater;
- Early Payoff Penalty: It doesn’t charge an early payoff fee.
What is the Prosper Personal Loan?
Prosper is an online platform that offers personal loans for fair or good credit borrowers.
It considers the debt-to-income ratio and credit score when determining loan options for its applicants.
Also, Prosper Personal Loans offers joint loan options to add co-borrowers to the loan.
Then if you include a strong credit borrower, you might increase the chances of approval.
Prosper Personal Loan is available for various purposes, including debt consolidation, home improvement, and large purchases.
In addition, this platform promises fast funding in less than a business day after the deal is accepted. So, you’ll get the money you need to start your projects.
Finally, you can borrow from Prosper Personal Loan an amount between $2,000 to $50,000. That will depend on your financial circumstances.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Is the Prosper Personal Loan good?
Prosper Personal Loan can be interesting depending on your goals.
To help you decide if Prosper Personal Loan is good for you, check out its advantages and drawbacks below.
Pros
- Instant Approval: Get the money you need in as little as 24 hours;
- Flexible Payment Dates: Choose a date that works best for you;
- Joint Loan Option: Apply with a friend or family member and share the responsibility;
- Wide Range of Loan Amounts: Get the loan amount that fits your needs, from $2,000 to $50,000.
Cons
- There are origination and late fees;
- There aren’t options to make direct payments for debt consolidation loans.
Does the Prosper Personal Loan check credit scores?
Yes, it does. Prosper Personal Loan will do a hard credit check, so your score might temporarily decrease.
Want to get the Prosper Personal Loan? We will help you!
We hope the Prosper Personal Loan review has clarified your mind about how it works. Keep learning about it and how to apply for Prosper Personal Loan below.
How to apply for Prosper Personal Loan
Find out how to apply for the Prosper Personal Loan and quickly get the money you need. Read on!
Trending Topics
9 of the easiest credit cards to apply for: get approved fast!
No credit score? No problem! These are the easiest to get approved credit cards. You can get one of these to build a strong credit score.
Keep ReadingLearn to apply easily for Sallie Mae Student Loan
Are you looking to apply for the Sallie Mae Student Loan but don’t know where to start? We are going to help you get your loan today!
Keep ReadingNational School Lunch Program: see how to apply
Learn how to apply to the National School Lunch Program and get your children nutritious meals. Learn more now!
Keep ReadingYou may also like
Chase Sapphire Reserve® review: Free airport lounge access worldwide
Read our Chase Sapphire Reserve® review. This rich travel card makes your adventures even brighter. Earn points. Check out our full post!
Keep ReadingEnjoy $0 annual fee: Apply for Marshland Visa® Credit Card
Learn how to apply for Marshland Visa® Credit Card and get 1 point per $1 spent on all your purchases. Read on and find out the steps.
Keep ReadingHow to make $5000 a month: 10 simple strategies anyone can use
Discover how to make $5000 a month with these simple strategies and secrets that anyone can use. Keep reading!
Keep Reading