Learn About Loans on Prosper
About Prosper:
Prosper is an online community where people come together for person-to-person lending and borrowing money. Borrowing money through Prosper is fast and easy, and because other people can compete for your loan, the rates may be lower than you'd expect!
About Prosper loans:
All Prosper loans are unsecured 3-year fully amortized loans. The interest rate is fixed for the life of the loan and does not change in the event of late payment or for any other reason. Fixed monthly payments may be automatically deducted from the borrower's bank account. Borrowers may prepay any portion of the loan without 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 the Prosper tutorial to learn how to create a great 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Fixed monthly payments are automatically withdrawn from your bank account.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
