Prosper Review

By: Cooper Haywood
Last Updated: April 07, 2020
Advertiser Disclosure



Prosper is still a formidable alternative. It appears even with the new underwriting process, Prosper loans are slightly risker. This isn’t necessarily a bad thing; it’s something to be aware of when picking loans.

Quick Facts

Minimum Credit Score
Maximum Loan Amount
Loan Duration
60 months
5.99% - 36.0%
Origination Fee
1.0% - 5.0%
Days to Close
30 days

Expert Walkthrough

Coming Soon!

About the Author

Cooper is a former equity research professional/finance analyst who holds an MBA in Financial Instruments and Markets from New York University's Stern School of Business. He left the investment banking world in 2015 to become a full-time investor. He contributed to InvestmentZen as an financial product analyst from 2016-2017.

Prosper Reviews

Credit Karma 2016-04-12

My overall experience with Prosper was great. I applied on Monday evening and the money was in my account by Friday morning. Prosper communicated to me the whole process. If they were missing anything I received an email stating what they needed, in which case I would get to them as soon as possible. I would definitely use them again.

Lending Memo 2016-03-18

Simple easy loans at low interest rates. Fees could be communicated better.

Super Money 2015-01-14

The application for Prosper is by far the easiest and most efficient that I've seen. The day I submitted my application, I also submitted a voided check using my smartphone. I wasn't quite sure what a peer to peer lender was, and was slightly skeptical, but decided to give it a try after a friend applied for a loan with this company. I received the loan straight to my bank account in two days, and it couldn't have been easier. So pleased.

Investorjunkie 2016-03-16

Overall Prosper is a decent P2P investment service, although it has limitations similar to Lending Club. The biggest limitation to their service is a smaller selection of investment notes.