Program Overview

  • Simple installment loans with fixed rates and payments.
  • Loan sizes from $2,000 to $35,000
  • Three and five year terms*
  • Annual Percentage Rates range from 5.99% to 36.00%*

*Annual percentage rates through Prosper range from 5.99% to 36.00% for first-time borrowers, with the lowest rates for the most creditworthy borrowers. For example, a three year $10,000 loan with a rate of 5.99% APR would have 36 scheduled monthly payments of $302. A five year $10,000 loan with a rate of 9.68% APR would have 60 scheduled monthly payments of $201. Actual rate depends on credit history, income, and other factors. Eligibility is not guaranteed, and requires that a sufficient number of investors commit funds to borrower’s account and that borrower meet credit and other conditions. Refer to Borrower Registration Agreement for details. All loans made by WebBank, a Utah-chartered industrial bank, member FDIC.

Key Benefits

  • Easy online application – get qualified in minutes
  • Fixed loan rates
  • Loans are unsecured — no collateral required
  • Easy fixed monthly payments
  • No prepayment penalties
  • No cost to referring association members

How It Works

Step 1

Applicants visit to begin the loan application process

Step 2

Applicants choose a loan amount and fill out an initial application to check eligibility & rate.

Step 3

Applicants receive notification on eligibility decision.

Step 4

Qualified applicants receive an offer based on application information.

Step 5

Qualified applicants select an offer.

Step 6

Qualified applicants are then asked to provide additional information to finalize and verify their application.

Step 7

Finalized applications will generate a request for a loan

Step 8

Once the listing is active on Prosper, investors can commit funds to applicants' loan.

Step 9

When applicant's loan is funded and verified, the funds will be deposited in their bank account.

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