Prosper
Last updated July 2026 · Educational overview — not an endorsement
Relief Guardian is not a lender and does not recommend one lender over another. This page presents factual, publicly available information to help you evaluate Prosper against other options.
Company Overview
Prosper is one of the original peer-to-peer lending marketplaces, now offering unsecured personal installment loans — funded through its lending partner, WebBank — commonly used for debt consolidation.
Loan Products
- Unsecured personal installment loans
Typical Loan Amount
$2,000 – $50,000
Loan Term
24 to 72 months (2 to 6 years)
APR Range
Approximately 8.99% – 35.99% APR, per Prosper's published rate range
Funding Timeline
Prosper states funds can be available as soon as one business day after the loan offer is accepted and verification is complete.
Credit Review Process
Prosper states that checking your rate uses a soft credit check that does not affect your credit score; a hard inquiry occurs only if you proceed with a full application.
Credit profile: Fair to good credit generally considered; final approval depends on your full financial profile
Potential Benefits
- No prepayment penalty, per Prosper's disclosures
- Rate check does not affect your credit score
- More than 20 years of lending history
- Strong third-party ratings (Trustpilot 4.7/5 from 13,000+ reviews; Bankrate score of 4.5)
Potential Considerations
- Origination fee of approximately 1%–9.99% deducted from loan proceeds
- APR can run as high as 35.99% for lower-credit borrowers
- As a marketplace model, funding can depend on sufficient investor commitment to the loan
Frequently Asked Questions
Is Prosper a peer-to-peer lender?
Prosper was one of the original peer-to-peer lending marketplaces. Loans are now originated by WebBank and funded in part through investor commitments.
What is Prosper's origination fee?
Prosper charges an origination fee of approximately 1% to 9.99% of the loan amount, deducted from your loan proceeds.
Learn More Directly From Prosper
Always review current rates, fees, and terms on the lender's own website before applying.
Visit Website