Prosper review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.

Our verdict

Prosper is a US marketplace for fixed-rate personal loans, suited to borrowers with fair credit who want a $2,000 to $50,000 loan and a soft prequal credit check. The trade-off is an origination fee of 1% to 9.99% on top of rates that run to 8.99% to 35.99%.

Key facts

Best for
Borrowers with fair credit wanting fixed-rate loans of $2,000 to $50,000 and free early repayment.
APR
8.99% to 35.99% (Source, checked September 26, 2026)
Loan amount
$2,000 to $50,000 (Source, checked September 26, 2026)
Term
24 to 72 months (Source, checked September 26, 2026)
Arrangement fee
1% to 9.99% (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Funding time
As soon as 1 business day (Source, checked September 26, 2026)
Representative example
a three-year $10,000 personal loan with an interest rate of 17.29% and an 8.99% origination fee results in a 24.19% APR (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Marketplace (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
Credit score of 640 or higher to qualify; a score under 600 might not qualify (Source, checked September 26, 2026)
Origination fee (%)
1% to 9.99% (Source, checked September 26, 2026)
Loan types
Personal, Debt-consolidation, Car, Business, Student (Source, checked September 26, 2026)
Credit needed
Fair (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
Prosper Marketplace, Inc. (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Founded
2005 (Source, checked September 26, 2026)
Support channels
Email, Phone, Help-centre (Source, checked September 26, 2026)
Pricing model
Fixed rate
Official website
prosper.com

Apps and profiles

Get the app
Google Play
Elsewhere
WikidataWikipediaXTrustpilotLinkedInyoutube.com

Pros and cons

Pros

  • Checking rates runs on a soft prequal credit check rather than a hard one.
  • Early repayment is free, so clearing the balance early costs nothing extra.
  • Funds can arrive As soon as 1 business day once the loan is committed.
  • personal, debt consolidation and car loans sit under one marketplace, so a consolidation and a car purchase can both be funded.

Cons

  • An origination fee of 1% to 9.99% is charged on top of the interest rate, so the APR sits above it.
  • The rate range reaches 8.99% to 35.99%, higher than the 10% to 23% band at Monzo Flex.
  • As a marketplace, the price is set by whichever lender backs the application rather than by one published rate inside 8.99% to 35.99%.
Prosper

Ready to try Prosper?

Scored 8.9 / 10 by BorrowCue.

See alternatives

Who it suits

  • Borrowers with fair credit who want fixed-rate terms rather than a revolving line.
  • Anyone tidying several balances into one payment, as personal, debt consolidation and car includes debt consolidation.
  • Households paying for home improvement work who are comfortable clearing the balance early.

Who should look elsewhere

  • Borrowers who would rather see rates of 10% to 23% may prefer Monzo Flex.
  • Anyone wanting a headline cost of 0% in another currency may prefer Cashspace ES.
  • Readers looking at a market where the APR reads PHP 12 to PHP 36 rather than a US dollar range would start with Cashspace.

Safety and regulation

Prosper is a marketplace, so the rate and the fee come from the lender who funds the loan rather than from one house price. Its representative example shows a personal loan where an origination fee lifts the APR above the interest rate, which is the figure worth comparing on. The platform is licensed by the Colorado Division of Real Estate, the California Department of Financial Protection and Innovation and the Maryland Commissioner of Financial Regulation, under licence 22373.

Who runs it

Prosper Marketplace, Inc. is the operating company, based in the US and founded in 2005. Support runs on email, phone and help centre, so a borrower can phone, email or work through the help centre. The same company appears in the licensing registers of the Colorado Division of Real Estate, the California Department of Financial Protection and Innovation and the Maryland Commissioner of Financial Regulation.

How Prosper compares

Where Prosper is available

Available
United States
Licence in United States
Colorado Division of Real Estate (111473), checked September 26, 2026
Licence in United States
California Department of Financial Protection and Innovation (41DBO-121778), checked September 26, 2026
Licence in United States
Maryland Commissioner of Financial Regulation (22373), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does a Prosper loan cost?+

Prosper lends at rates of 8.99% to 35.99% on loans of $2,000 to $50,000 over terms of 24 to 72. The price is not the rate alone: an origination fee of 1% to 9.99% is added, so the APR quoted sits above the interest rate.

How quickly is a Prosper loan funded?+

Money can arrive As soon as 1 business day. Prosper runs as a marketplace, so the loan is funded by the investors who commit to the request, and the timing follows that commitment rather than a single lending decision.

Does checking with Prosper affect my credit score?+

Checking on Prosper uses a soft prequal rather than a hard check, and the platform asks for fair credit overall. Whether you qualify is the lender's call: its eligibility note says a lower score might not be accepted.

Who regulates Prosper?+

Prosper holds licences with the Colorado Division of Real Estate, the California Department of Financial Protection and Innovation and the Maryland Commissioner of Financial Regulation, the last under licence 41DBO-121778. Those licences cover the marketplace side of the business.

What can I borrow a Prosper loan for?+

Prosper offers personal, debt consolidation and car loans, with home improvement named as a use case. Consolidation, car and business borrowing sit alongside personal loans, so one fixed-rate product covers a planned purchase as well as tidying up balances.

Can I repay a Prosper loan early?+

Early repayment is free, so clearing the balance ahead of the 24 to 72 term adds no charge. The rate is fixed for the life of the loan, which makes the remaining cost easier to plan.

How do I reach Prosper for help?+

Support runs on email, phone and help centre, so a borrower can phone, email or work through the help centre. The company behind the marketplace is Prosper Marketplace, Inc. in the US, founded in 2005.

Sources

  • nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/111473 checked September 26, 2026

    Backs: Licences

  • prosper.com checked September 26, 2026

    Backs: Credit needed, Founded, Lender type

    “What's your credit score range? 601-660 range”

  • prosper.com/contact-us checked September 26, 2026

    Backs: Support channels

    “Email support@prosper.com Phone 866-615-6319”

  • prosper.com/legal/heloc-licensing-disclosures checked September 26, 2026

    Backs: Headquarters, Legal entity

    “Main Corporate Office: 221 Main Street, Suite 300 San Francisco, CA 94105”

  • prosper.com/personal-loans checked September 26, 2026

    Backs: Loan amount, APR, Credit check, Eligibility, Free early repayment, Funding time, Loan types, Pricing model, Arrangement fee, Origination fee (%), Rate type, Representative example, Term, Use cases

    “$2,000-$50,000 for what you need”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Prosper

Prosper

Borrowers with fair credit wanting fixed-rate loans of $2,000 to $50,000 and free early repayment.

8.9/10See alternatives

Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie policy
Cookie settings