Prosper Review > Debt Consolidation

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Prosper Review

What is Prosper & how does it work?

Prosper was founded in 2005 as the first peer-to-peer lending marketplace in the United States. Since then, Prosper has facilitated more than $13 billion in loans to more than 830,000 people.

Through Prosper, people can invest in each other in a way that is financially and socially rewarding. Borrowers apply online for a fixed-rate, fixed-term loan between $2,000 and $40,000. Individuals and institutions can invest in the loans and earn attractive returns. Prosper handles all loan servicing on behalf of the matched borrowers and investors.

Prosper Marketplace is backed by leading investors including Sequoia Capital, Francisco Partners, Institutional Venture Partners, and Credit Suisse NEXT Fund.

​Prosper Fees & Features
Prosper Fees
2.4% - 5% Origination Fee
Credit Inquiry
Soft pull, does not hurt credit to see if you are pre-approved. Hard inquiry when you apply.
​Loan Amounts
​$2,000 - $40,000
Prosper range from 5.99% APR (AA) to 36.00% APR (HR) for first-time borrowers, with the lowest rates for the most creditworthy borrowers. 
Loan Terms
36 to 60 Months
Prosper Summary
With debt consolidation the benefits can be immediate and positive. Whether your looking to increase your monthly cash flow, consolidate high interest debts, make a large purchase, or to make a major home improvement Prosper is good place to check your rate without it affecting your credit score.

Prosper Benefits:
  • Low interest rates
  • Fixed terms—3 or 5 years*
  • Single monthly payment
  • No prepayment penalties
Ready to Prosper? Join the thousands who have achieved their financial goals.
Prosperment Recommended
Prosper Debt Consolidation Loans