Prosper Personal Loans

Prosper personal loans? More than once you will have asked yourself this question in an economic situationWell, the reality is that a Prosper personal loan is the best option for those who require money quickly and at low interest.

Prosper stands as one of the best alternatives to apply for loans quickly, at low repayment costs and without many requirements.

In advance, we point out that Prosper itself is not a lending company, but rather, it works as a contact platform between borrowers and applicants. This being the case, the company acts as a link between those who release the money and those who receive it. Let’s see more details about it below.

How to apply for a personal loan from Prosper?

To request one of Prosper’s personal loans you must carry out an online process, following the steps that we show you below:

  • Enter the official Prosper website and create a profile, so that the different personal loan options can be displayed to you. The generation of the profile within the web is free, it does not generate any cost.
  • Go to the main menu and select the option rates, which is equivalent to loans. A window will be displayed where you must indicate the amount of money you require.
  • A tab will open, where you must choose from the available options, the option for which you will allocate the funds received.
  • Indicate if you are making a particular personal loan application, or on the contrary, you are choosing to include a co-signer in your application.
  • If you are including a guarantee, you must complete the form that will be displayed with your personal and credit information.
  • Complete the form with the personal data that refers to you, indicate the approximate figure that corresponds to your annual earnings and the monthly expenses that you can present.

Requirements to obtain a personal loan from Prosper

To apply for a loan in Prosper you must enjoy the following features in your favor:

  • The amount of the loan that you have to request must be in a margin of less than 50% of the figure for expenses that you have in a year.
  • Having a financial liquidity of one (1) year old, this indicates that in the year prior to your application for personal loans, you have requested no other loan in your favor.
  • Have a minimum margin of 3 credit relations, within a pillar of banking operations. This means that in Prosper you are allowed up to a maximum of three contiguous credit operations.

What are Prosper’s interest rates and payment terms?

Generation rate, which can range between 2 and 5% of the total amount granted to the applicant as a result of the loan.

Interest rates can vary between 8% and 36% calculated based on the amount granted in the loan drawn. Interest rate for late paymentYou should know that this personal loan platform has a financial penalty in case you are late with the payment of the installments, being the same at a rate of 5%.

Regarding the amounts that this platform can issue you, there is an amount from 2,000 to 40,000 dollars. In the same way, it is to be considered that this can be paid within a period of 5 years as the maximum time granted.

Can I request an urgent loan and how long will it take to be approved?

As we indicated to you, Prosper is not a personal loan company in itself, but rather works as a communication interface between lenders and future applicants.

Taking into consideration that in this you can count on different criteria due to the credit behavior of each lender, so there may be credit situations in which the money is released after 48 hours, with respect to the rates Prosper establishes on a obligatory and general the same (already mentioned previously) to avoid all kinds of speculation.

As we pointed out to you previously, the loans can be requested freely, since each lender has its own conditions, without having to establish any limitation to additional requirements, beyond those generally stipulated by the Prosper platform. .

Advantages and disadvantages of applying for a loan at Prosper

Prosper Personal Loans

Carrying out an analysis of said company, we point out below, the most marked characteristics of it, which are:


  • It has the possibility of including a co-signer, that is, a person who assumes the loan at the same time, being able to pay it in the event of an insolvency of the main applicant.
  • The possibility of obtaining urgent credit depends on the lender, but there have been cases of release on the same platform within 48 hours.


  • The interest rates are varied and apply to all cases, in fact, they are one of the highest in the personal loan market.

As you will have appreciated, this is an ideal platform for applying for loans of large amounts. In addition, it allows you the possibility of having a guarantee for the payment of the loan.

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