Prosper Personal Loan Reviews

4.6 out of 5 stars
330 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

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

Jun 30, 2017
Easy to do very helpful
mrbeck21 Borrower

The process was pretty straightforward. I had to submit some documentation on income. I was notified about a day later that my loan for $8,000 was fully funded, and about a week after I applied I had the funds in my bank account. Would do it again.

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Most Helpful Negative Review

Mar 13, 2017
There are better options!
egueits1 Borrower

With most loans, you can pay the balance of your prinipal owed if you are able to come up with the cash all at once. For example if you owed around 11k and had about 45 payments left, then you could pay about 8 or 9k and the loan is paid off.  Prosper does not allow this and you would still owe 11k, meaning there is no benefit to paying early other than total payments that you owe on the back end would would drop by your cash infusion but you still pay interest as if you borrowed the money for the full term.  Go look at Lending Club or others becuase there are much better options!

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

Jun 30, 2017
Easy to do very helpful
mrbeck21 Borrower

The process was pretty straightforward. I had to submit some documentation on income. I was notified about a day later that my loan for $8,000 was fully funded, and about a week after I applied I had the funds in my bank account. Would do it again.

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Jun 22, 2017
Easy and Quick if done properly
Anonymous Borrower

Great site, very easy process. Would give 5 stars if wasn’t for the fact that I had to call to get the process finished fast. I called 2 times and the first time I called the verification process was done within the hour the second time I called to ask if they needed anything I got a email 30 minutes later that the funds will be in my account within 4 business days. Over all it’s a great service if you need to use it

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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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1 Reply
Jul 02, 2017

What was your credit score when you applied for this loan?

 
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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**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.