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Smart, simple tools for borrowing, saving & earning
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Discover a credit card, personal loans, HELOCs and HELoans, investing opportunities, and financial knowledge-focused educational content—all designed to help you consolidate debt, finance home improvements, cover healthcare costs, and, above all, advance your financial well-being.
Find answers to our community’s questions below, or visit our Help Center to learn more.
This might seem like an unusual question, but when it comes to trusting financial institutions with personal finances—especially online—many people are understandably cautious. Is this safe? How do I apply? Am I making the right decision? These are important concerns, and we’re here to help you find satisfactory answers. We believe your trust is ours to earn and keep.
Here are the brass tacks: Prosper was founded in 2005 as the first peer-to-peer lending marketplace in the United States. In almost 20 years, Prosper has facilitated more than $21 billion in loans to over 1.3 million people. We now provide a variety of simple, fast, fair, and personalized financial tools and resources that support people’s lives.
Prosper uses significant safeguards, including physical, technical, and operational controls to protect personal information. If you have any questions about the security of your information, you can always write us at [email protected].
You can also visit our Prospectus page to view Prosper’s latest SEC filings.
Prosper has an A+ rating from the Better Business Bureau. The company serves on the Board of Directors for the American Fintech Council, an organization that promotes a transparent, inclusive, and customer-centric financial system and fosters responsible innovation in financial technology.
You can learn more about Prosper’s story, our values, and our team by visiting our About Us page.
Prosper offers a variety of resources people can use to try and improve their financial health, regardless of their financial situation.
Whether you’re just starting out and trying to establish your credit and financial profile, or you’re a financial expert looking for a new investment vehicle, Prosper can help you improve your financial wellbeing.
Users can get started with their credit using the Prosper® Card, they can consolidate debt, improve their home, or finance healthcare costs with personal loans. For individuals who own their home, Prosper can facilitate a fast and easy home equity line of credit. Investors who may be looking for new opportunities to diversify their portfolio can invest in personal loans.
Individuals who aren’t ready for any of what’s mentioned above but are interested in learning more about ways to improve their financial knowledge can spend some time reading the Prosper blog and can sign up for monthly newsletters.
Your security is our highest priority.
Prosper uses 256-bit encryption to keep your information safe.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
1 Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank.
2 You may receive your funds one business day after your acceptance of the loan offer, completion of all necessary verification steps and final approval. One business day funding is also dependent on your bank’s ability to quickly process the transaction.
3 Eligibility for a home equity loan or HELOC up to the maximum amount shown depends on the information provided in the home equity application. Depending on the lender, loans above $250,000 may require an in-home appraisal and title insurance. Depending on the lender, HELOC borrowers must take an initial draw of $50,000 at closing; subsequent HELOC draws are prohibited during the first 90 days following closing; after the first 90 days following closing, subsequent HELOC draws must be $1,000, or more, except in Texas, where the minimum subsequent draw amount is $4,000.
Home equity products through Prosper may not be available in all states.
All home equity products are underwritten and issued by Prosper’s Lending Partners. Please see your agreement for details.
4 Weighted average historical return for loans originated through Prosper as of May 31 2023 (the “Calculation Date”). To be included in the historical return (“Historical Return”) calculation, the loan must have originated (a) on or after July 1, 2009, and (b) at least 12 months prior to the Calculation Date. Historical Returns are based on actual payments (other than principal) received by the investor net of fees and losses (including from charged-off loans) on loans originated through the Prosper platform.
We calculate the Historical Return for loans originated through Prosper as follows. First, loans are separated into distinct “Groups” based on the specific month and year in which they were originated and their Prosper Rating at origination. For each Group, we calculate: (a) the sum of the interest paid, plus late fees, minus servicing fees, minus collection fees, in each case on active loans, plus net recoveries on charged-off or defaulted loans, plus net debt sale proceeds on sold loans, minus gross principal losses; divided by (b) the sum of the principal balances outstanding on active loans at the end of each day since origination. We then annualize the result to get the “Historical Return” for the Group. Once this calculation is performed for every Group, we compute the cumulative-outstanding-principal-dollar-weighted average of their Historical Returns. This gives us the “weighted average Historical Return” for loans originated through Prosper. For purposes of this calculation, “active” means loans that are either (i) current in payments or (ii) delinquent, provided that delinquent loans that have charged-off or are in default are not considered active. Loans that have paid off are also not considered active.
The Historical Return calculation (a) is updated monthly; and (b) excludes the impact of servicing-related corrective non-cash adjustments that may modify the outstanding balance or status of a borrower loan. The actual return on any Note depends on the prepayment and delinquency pattern of the loan underlying each Note, which is highly uncertain. Individual results may vary. Historical performance is no guarantee of future results and the information presented is not intended to be investment advice or a guarantee about the performance of any Note.
The Prosper Credit Card is an unsecured credit card issued by Coastal Community Bank, member FDIC, pursuant to license by Mastercard® International.
All personal loans made by WebBank.
Prosper and its lending partners take your privacy seriously. Please see Prosper’s Privacy Policy, WebBank’s Privacy Policy, Coastal Community Bank’s Privacy Policy, and Spring EQ’s Privacy Policy for more details.
Prosper Marketplace, Inc. NMLS#111473 (https://www.nmlsconsumeraccess.org)
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