Prosper Review


Prosper is a personal loan service that offers a unique alternative to traditional loans and investing options. Prosper connects people searching for personal loans with those who have money to invest. Lenders are asked to create a lending profile that contains basic information such as loan amount, financial rating and purpose of loan to name a few. The likelihood of getting their loan approved is based on how peers consider the attractiveness of their loan application.  



Peer-to-peer lending

*** All personal loans are made by WebBank, a Utah-chartered Industrial Bank, member FDIC. All Proper personal loans are unsecured, fully amortized personal loans.


Loan Details

Unsecured personal loans


Minimum loan amount


Maximum loan amount


Minimum loan period

3 years

Maximum loan period

5 years

Loan rates

Starts at 5.99% APR for best borrowers

Direct deposit




Online application time

Few minutes

Response times

Response times to your personal loan request are based on the attractiveness of your loan profile


Loan rates are set by proper and based on factors including:

  • Prosper rating, which is an indicator of loss rates
  • Loan term
  • Economic environment
  • Competitive environment

Information Used

Credit Score

Prosper Rating

History of delinquencies


Revolving credit balance

Debt/ income ratio

Length of employment


Prosper Summary

Good credit scores and financial history are the key to getting your personal loans approved by peers. This is because lenders aka lenders are individuals who would wish to safeguard their investment (loan) by choosing only those individuals labeled as low risk. A good option for those with good or excellent credit ratings searching for an alternative to traditional loans.