Prosper Personal Loan Reviews

4.6 out of 5 stars
328 Reviews

From Borrowers in the last year


Application Process

4.5 out of 5 stars

Customer Service

4 out of 5 stars

4.5 5

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Most Helpful Positive Review

Jan 10, 2014
Prosper Loan Was A Smooth Process
bigring66 Borrower

After reading the reviews on CK, I was a bit apprehensive. It appears to be a love/hate feeling toward Prosper, but with some credit card debt at a high APR, I decided to submit my application.

Ultimately, I was approved for $20,000.00 @ 11.39%. Much lower APR than what was on some of my cards.

I started the process on Jan 3.

Submitting the required docs was easy. I just uploaded pdf's for the W-2, bank account and utility bill.

I was approved for funding on Jan 7. The funds were in my bank account on Jan 10.

Some of my details:

  • FICO = 721
  • DTI = 24%
  • Prosper Rating = A

So far, so good. And really happy to have a game plan to get out of debt and not to continue to pay the high APR on the cards.

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Most Helpful Negative Review

Jan 26, 2016
Just happened
ishmael62 Borrower

I had credit karma share my information to get some pre-approved numbers. I checked out prosper and unfortunately, I guess I did not read well enough. Entering my information and checking that I accept Prosper T&C as well as them checking my credit apparently means I accept the loan. No signature, no contracts, just a checkbox. In addition, I couldn't adjust the original request and everything just went and got processed without any further consent. I also called them up, because my FICO 8 was higher than what Credit Karma said, to see if we could get better rates or lower closing fees. I was told that it's all done by computers and algorithms and they could do absolutely nothing for me.

Maybe I should have read more about it first. But I got a good loan at a lower rate for my debt consolidation. Funds got to me within a week of "applying". We'll see how they treat me

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These reviews were written by current and former borrowers in the last year.

Jun 04, 2017
High interst credit cards paid!!
Ginny718 Borrower

I am saving about 17% interest going with Prosper. I had no end in sight with the credit cards. I have an end to the means now.

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Jun 01, 2017
There are loans out there with no fee
Anonymous Borrower

I have this loan and the process of getting the loan was very easy, but after I got it I realized that I could have gotten a loan at TD bank for 8.9% for 2500-50,000 and there is no origination fee!!! NO FEE!! They took there was a $500 + fee with this loan!!!

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Jun 01, 2017
Best loan site ever

I applied twice for a loan with prosper and I have to say how easy it was to get it . Low monthly payment with no hidden fees was great for me . I will be coming back to get another loan in the future. 

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May 17, 2017
Not Worth It
Anonymous Borrower

Very high interest. No hardship program if you loose your job. No re-finance options. 

It's supposed to be a soloution for those with economic hardship. I found it placed us in a situation that was more difficult to get out of than medical debt. 

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May 17, 2017
Penalized for Extra Payments
Anonymous Borrower

I paid extra during March 2017.  I was way ahead on my payments.  Then Prosper did not take the auto withdrawal for April 2017.  Then they reported me to the Credit Bureaus as being late.  Cost me 85-115 points on my credit score.

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May 14, 2017
Was an easy process.
Anonymous Borrower

I actually got a better rate that what is was offering me on Credit Karma!

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May 12, 2017
Fast and easy
ItsSteveMan Borrower

The apllication and approval was fast and I received my money in a week.

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May 08, 2017
Debt consolidation/ auto repair
Anonymous Borrower

Great service super fast , I went to wellsfargo and applied for the same amount and was denied came hhoome and tried here and next morning I woke up to an email saying funds will be available in 3 days. Don't try anythi by else for loans 10,000 or less

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May 04, 2017
Save me some money
Anonymous Borrower

The process it's the way they describe it.

easy, no impact just for getting the amount info you qualified for.

although it took about 2 weeks on getting the money in the bank, I really recommend this service.

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May 02, 2017
Easy loan to get
Anonymous Borrower

Applied with Sofi but ended up getting better rates thru Prosper.

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.