How to Borrow Money on Prosper
About Prosper:
Prosper is an online marketplace for person-to-person lending and borrowing. Borrowing money through the Prosper community is fast and easy, and the auction process means that interest rates may be lower than you'd expect!
About Prosper loans:
All Prosper loans are unsecured 3-year fully amortized personal loans. The interest rate is fixed for the life of the loan and won't change for any reason, even in the event of late payment. Monthly payments are fixed, and may be automatically deducted from the borrower's bank account. If you finalize a loan, there's a one-time closing fee. Borrowers can pay the loan in full early with no penalty.
Here's how it works
- Join Prosper to begin borrowing the smart way!
Joining is quick, easy, and free.
- Create your loan listing
Tell us how much you want to borrow and set your maximum interest rate. Check out these tips on creating a successful listing.
- Watch the bidding
Lenders can start bidding immediately to fund your loan. Watch your interest rate fall as the competition heats up!
- You win!
After a few days, when the listing closes successfully, the money for your loan will be deposited directly into your bank account.
- Easy monthly payments
Fixed monthly payments are automatically withdrawn from your bank account. No hidden fees and no pre-payment penalties.
Get a Loan
