Prosper Personal Loan

Prosper is a marketplace lender: loans are made by WebBank and funded by investors, so approval requires sufficient investor commitments to fund. It publishes APRs of 8.99% to 35.99% for loans of $2,000 to $50,000 over 2 to 6 years, with an origination fee of 1% to 9.99%. Funds can arrive as soon as 1 business day after you accept the offer and finish verification and final approval. Prosper is unusually direct about price. Its page states that the average APR on loans with a 3-year term funded between January 1 and March 31, 2026 was 24.19%, a better guide to what borrowers really pay than the 8.99% floor. Its example makes the fee visible: a three-year $10,000 loan at a 17.29% interest rate with an 8.99% origination fee carries a 24.19% APR, delivers $9,101 and costs $357.97 a month. Stretch a $10,000 loan to five years at a 15.63% interest rate with the same fee and the APR is 20.02%. Prosper states that borrowers must have a credit score of 640 or higher, which makes it one of only two lenders here that publish a minimum. There is never a prepayment penalty, checking your rate does not affect your credit score, and you can apply with a co-applicant. Prosper does not publish a late fee amount or list state restrictions.