Personal loan review
Loans issued by WebBank
Prosper personal loans
Best for: Joint applications with fair credit
Prosper offers loans from $2,000 to $50,000 with terms of two to six years. Joint applications are accepted, and Prosper says checking your rate won't affect your credit score.
- Soft-pull rate check
- Joint applications
Terms last reviewed October 23, 2026
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Prosper at a glance
- APR range
- 8.99%–35.99%
- Loan amounts
- $2,000–$50,000
- Repayment terms
- 2–6 years
- Origination fee
- 1%–9.99%Deducted from loan proceeds
- AutoPay discount
- None advertised
- Credit needed
- Fair to goodProsper indicates 640+ for accepted loans; not a firm cutoff
- Time to funding
- As soon as one business day
- Soft-pull rate check
- Yes
- Joint applications
- Yes
- Pays creditors directly
- Check with lender
- Secured loan option
- No
Pros and cons
Pros
- Joint applications accepted
- Rate check doesn't affect your score
- Terms up to 6 years
Cons
- Origination fee on every loan
- Funding can take longer than advertised
What a $10,000 loan could cost
Your rate depends on your credit and finances. Here's the range of monthly payments at Prosper's lowest and highest advertised APRs, before any origination fee.
| Term | At 8.99% APR | At 35.99% APR |
|---|---|---|
| 36 months | $318/mo $1,446 total interest | $458/mo $6,487 total interest |
| 60 months | $208/mo $2,452 total interest | $361/mo $11,676 total interest |
Requirements
- Fair credit or better
- Verifiable income
- US resident, 18+
How to apply
- Check your credit report and score so you know which rates are realistic.
- Check your rate on Prosper's site — it's a soft pull, so it won't affect your score.
- Compare the offer with at least two other lenders on APR and total cost.
- Submit the full application with proof of income and identity.
- Review the final loan agreement, then sign and receive your funds — as soon as one business day.
Featured in
- Best Personal Loans for Fair Credit (2026) — Best joint application option
Frequently asked questions
Does Prosper do a hard credit check?
Checking your rate with Prosper uses a soft credit inquiry, which doesn't affect your score. A hard inquiry happens when you formally apply.
How fast does Prosper fund loans?
As soon as one business day, once your loan is approved and verified. Timing also depends on your bank.
What credit score do you need for Prosper?
Prosper indicates 640+ for accepted loans; not a firm cutoff. Lenders also look at your income, existing debts and credit history, so there's no guaranteed approval score.
Does Prosper charge an origination fee?
Yes — 1%–9.99% of the loan amount. Deducted from loan proceeds
How we compare lenders
Our methodology
We review each lender's published terms and compare them on the four things that matter most to borrowers. Rankings are editorial: partners can't pay for a better position, and any sponsored link is labelled. Lender terms change often, so we show the date each lender was last reviewed.
Cost
Published APR range, origination and other fees, and any AutoPay or Direct Pay discounts.
Flexibility
Loan amounts and term lengths, and whether secured or joint options are available.
Access
Which credit profiles a lender serves, and whether you can check your rate with a soft pull.
Speed & service
How quickly funds arrive after approval, and borrower-friendly features like paying creditors directly.
Rates, fees and terms are as published by Prosper and were last reviewed on October 23, 2026. They can change at any time, may vary by state, and your offer depends on your credit profile. Confirm current details with Prosper before applying. This review is general information, not financial advice.
Alternatives
Other lenders to compare
LightStream
Excellent credit and no fees
- APR
- 7.24%–24.89%
- Amount
- $5,000–$100,000
SoFi
Large loans and fast funding
- APR
- 6.99%–35.49%
- Amount
- $5,000–$100,000
PenFed Credit Union
Low maximum APR and small loans
- APR
- 6.74%–17.99%
- Amount
- $600–$50,000