This Privacy Policy describes how Prosper Marketplace, Inc. and its wholly owned subsidiary, Prosper Funding LLC (together, “Prosper”, “we,” “us” or “our”) collects, stores, uses, protects, and discloses your personal information when you use Prosper’s websites, services, and mobile applications. This Privacy Policy also explains your choices for managing information preferences, including opting out of certain uses of your personal information. By accessing or using Prosper’s websites, mobile applications or services, you consent to this Privacy Policy.
This policy applies to any consumer using Prosper’s websites, services, or mobile applications, including all current and former Prosper customers. Our websites, services, and mobile applications are intended for U.S. residents that are 18 years of age and older, and is not directed to children under 13. We do not knowingly collect personal information from children under 13. If you become aware that a child has provided us with personal information without parental consent, please contact us [email protected]. If we become aware that a child under 13 has provided us with personal information without parental consent, we take steps to remove such information and terminate the child’s account.
Information Provided by You
We collect personal information about you that you directly provide to us while you use Prosper websites, including but not limited to, www.prosper.com, www.prospercards.com, www.myprospercard.com, or www.prosperhealthcare.com or any associated websites, desktop or mobile applications (collectively, the “Prosper website” or “Prosper websites”). We collect this information when you apply for credit or register as a borrower or investor, or in connection with servicing your account. Additional information may be gathered during your subsequent use of the Prosper websites, or when we communicate with you via telephone, email or other means.
The following categories of personal information may be collected:
You may also provide your information to certain third-party financing platforms who will process your application for credit and may provide your information to us. The use of your information by that online financing platform is governed by that company’s privacy policy.
Prosper collects consent to send text messages to customers. If you provide your consent for Prosper to send you text messages, Prosper will not pass this consent to other parties. Prosper does not purchase consent to send text messages to customers.
Information Collected From Third Parties
When you check your rate or apply for credit through Prosper, we will collect information from credit bureaus and other third parties to facilitate determinations for credit eligibility, perform analyses, provide you with marketing offers and assess risks related to extending credit to you and any co-applicant and, if you are a personal loan applicant, to help investors determine whether to commit to your personal loan. If you obtain a personal loan or credit card through Prosper, we also collect information throughout the life of your financial obligation through Prosper from credit bureaus and other third parties in order to assess risks associated with your financial obligation, perform analyses, provide information to investors interested in buying or selling your financial obligation, and to provide you with marketing offers. If another company refers you to Prosper or assists you in any way in the application process, we may also collect your information from that company in order to process your application.
The following categories of information are generally collected for personal loan, home equity, and credit card applicants, and customers:
Information We May Collect Automatically
In order to provide services to you, improve our business and maintain records required by law, Prosper, our service providers, and our marketing partners may automatically collect, use, and retain information when you visit Prosper websites or mobile applications. This information may include:
With respect to individuals that have not created user accounts with Prosper, we do not associate the information that we collect with an identifiable consumer or household.
Cookies and Similar Technologies
Cookies. Prosper, our marketing partners and service providers, and third-party advertising providers may use technologies such as, but not limited to, cookies, pixel tags, web beacons, scripts and other similar technologies (collectively, “Cookies”), that gather information on our website. We use Cookies for a variety of purposes, including to help authenticate your account, detect fraud, administer the Prosper websites, gather statistical data, analyze trends, and to serve advertisements on Prosper’s websites or on other websites and mobile apps. We may receive reports on this activity on an individual or aggregated basis. Cookies are also used to gather other online activity data, including which webpages are frequently visited, navigation paths between pages or screens, information that is downloaded from the Prosper websites, and the address of websites visited immediately before or after coming to Prosper websites.
Cookie Opt-Outs. You can control the use of Cookies by managing your cookie consent preferences when visiting our websites or within your web browser. However, if you reject cookies, your ability to use some features or areas of Prosper websites may be limited. Note that due to technological limitations, if you visit our website from a different computer or device, or clear cookies on your browser that store your preferences, you will need to return to this screen to opt-out and/or rebroadcast the signal.
Site Analytics. Prosper may use various analytics services, including Google Analytics, a web analytics service provided by Google, Inc., on our online websites. These analytics services use Cookies or other tracking technologies to help us analyze how users interact with and use the websites, compile reports on activity, identify and address technical issues, and provide other services related to activity and usage. These technologies may collect information such as your IP address, time of visit, whether you are a return visitor and any referring website.
Session Replay Technologies. Prosper implements session replay technology that we use to better understand interactions with users of our websites. This session replay technology collects information about your interactions with our pages, including the duration of your visits to each page, the content you may have reviewed, the location of your clicks, and the way you navigate our websites.
Local Storage Technologies. Prosper also uses Local Storage, such as HTML5, to store content information and preferences. Various browsers may offer their own management tools for removing HTML5.
Third-Party Advertising Technologies. As described in the “Cookies” section, Prosper’s third-party advertising providers may use Cookies to collect certain information about your interaction with the Prosper website, mobile app, and your activities across other websites. These third-party advertising providers may use that information to evaluate Prosper’s website performance, the success of Prosper’s marketing efforts, and to serve you interest-based advertisements across the web, in mobile apps, and through streaming and television platforms.
You can learn more about interest-based ads or opt out of having your web browsing information used for behavioral advertising purposes by companies that participate in the Digital Advertising Alliance, by visiting www.aboutads.info/choices or https://optout.networkadvertising.org. Please note that this does not opt you out of receiving all ads, and you may still encounter generic ads.
We use your personal information for the following purposes, or as otherwise described at the time of collection:
Processing Your Transaction
Optional Marketing Communications
Receipt of marketing communications via email is voluntary. If you do not wish to receive these communications, you may unsubscribe using the link in any marketing email that Prosper sends to you. Personal loan and investor customers may also sign in at www.prosper.com, select “Settings” from the drop-down menu, and disable unwanted communication types in the section titled “Communication Preferences.” All consumers may contact us at [email protected] and we will assist you in disabling optional communications. Please note that for personal loan applicants and borrowers, your opt-out choices will not apply to your co-borrower.
We will share your personal information with nonaffiliates (companies not related by common ownership or control) and among affiliates (companies related by common ownership or control, including but not limited to the companies covered by this policy) in the ways that are described in this Privacy Policy or as otherwise described at the time of collection. Prosper shares your information with third parties as permitted by law, including in the following specific ways:
How you can change your personal information
Personal loan applicants or registered borrowers: You may update your password, email, phone number, bank account information or mailing address at any time, though certain changes prior to loan origination may require you to submit a new loan application. You can access the personal information you have provided to us by logging in at www.prosper.com, and navigating to the “Settings” page of your account. To change your information, you may also contact us at [email protected]. We will respond to your request within a reasonable time.
Registered investors: As a registered investor, you can update your password, email, phone number, or home address at any time by logging in at www.prosper.com, and navigating to the “Settings” page of your account. To change your information, you may also contact us at [email protected]. We will respond to your request within a reasonable time.
Credit card applicants: You can change your contact information by calling our customer service at 1-800-851-0630.
Prosper Card account holders: You can change your contact information by calling our customer service at 1-800-903-4697.
Home equity applicants: You can access the contact information you have provided to us by logging in at www.prosper.com, and navigating to the “Settings” page of your account. To change application or other information, you may contact us at [email protected].
For all customers, we will retain your information for as long as needed to provide you services, comply with our legal obligations, resolve disputes, conduct analyses or audits, or to enforce our agreements or as otherwise permitted and/or required by law.
How Prosper Secures Your Information
Prosper uses significant safeguards, including physical, technical (electronic), and operational controls to protect your personal information, both during transmission and once received. If you have any questions about the security of your information, you can contact us at [email protected].
Prosper equips all servers with a Secure Socket Layer (SSL) certificate to ensure that when you connect to our websites, you can tell that you are on a Prosper website and that all data entered into the websites are transmitted to us in a secure encrypted channel. Once on our system, personal information can only be read or written through defined service access points, the use of which is password-protected. Data security is achieved through technical safeguards that include a combination of encryption, firewalls, intrusion prevention system, malware detection system, and data loss prevention systems. Prosper also conducts vulnerability scans of applications and systems regularly.
Access to the system is tightly controlled and limited to only those who have a need to access information. Administrative safeguards such as a security awareness program, background checks, and internal information use policy ensure that only trained and trusted staff are permitted to access personal information. Some additional features of our security program include:
Secure Data Center
We store all sensitive financial information in state-of-the-art, highly secure data centers that are audited per AICPA SOC for Service Organizations. Physical access to the data centers is strictly controlled and we use the latest threat prevention technologies such as network and web application firewalls, VPN, antivirus, Web filtering and antispam technologies.
Session Time-Outs
We employ session time-outs to protect your account or application. You will be logged out of the site automatically after a specified period of inactivity. This time-out feature reduces the risk of others being able to access your account or information if you leave your computer unattended.
Account Authentication
If you have an account, at a minimum, we require that you use a password or follow other secure steps we have instituted to allow you to access your account. If you create a password, you must use both numbers and letters in your password. We have also instituted secure steps by which you can regain access to your account should you forget your password. You should always choose a password that is difficult for others to guess and change your password frequently.
Additional Steps You Should Take to Ensure the Security of Your Information
Prosper sends important communications regarding your account or application via email. You should therefore take steps to secure and restrict access to your email account and change your email account password frequently. You should also be aware of fraudulent emails known as “phishing,” from companies claiming to be Prosper and requesting your login information or other account information. Prosper will never ask for your login information in an email.
When you are finished using Prosper websites, you should log out completely, then close the browser window and clear the browser’s cache files and saved passwords. This step is particularly important if you use a computer that is accessed by other people, such as in a public library or Internet café.
Changes to this Privacy Policy
Any updates to the Privacy Policy become effective when posted on Prosper websites. If we make any material changes, we will notify you by email or by providing the revised Privacy Policy in your account on www.prosper.com if you have one. Your continued use of our services following the update means that you accept Prosper’s updated Privacy Policy.
For additional information, or if you have any questions regarding this policy or the privacy practices at Prosper, please submit your questions or comments directly to [email protected].
Note: Prosper Marketplace, Inc. is the parent company of Prosper Funding LLC. Prosper Funding LLC owns the Prosper platform and website (www.prosper.com) and application as well as loans underlying all borrower payment dependent notes. Prosper Marketplace, Inc. operates the Prosper platform and provides administrative support to Prosper Funding LLC.
Effective date: February 28, 2025
This Notice applies to U.S. state privacy laws (like the California Consumer Privacy Act (“CCPA”)) that apply to personal identifiable information that Prosper collects about you. Please note that the state privacy laws, and this Notice, do not apply to personal identifiable information covered by other federal and state privacy laws, such as the federal Gramm-Leach-Bliley Act (“GLBA”), the California Financial Information Privacy Act (“CFIPA”), the Fair Credit Reporting Act, and certain other laws. As a result, most state privacy laws do not apply to most of the information that Prosper collects.
This Notice applies solely to residents with applicable state privacy laws and this Notice describes how Prosper collects, uses, and discloses the more limited personal information that Prosper collects that is subject to these state privacy laws.
The information on this page complements the notices and disclosures regarding your rights under federal laws and regulations (e.g., the Gramm-Leach-Bliley Act).
How Prosper Collects, Uses, and Discloses Your Personal Information
Below is a description of the categories of “personal information” that Prosper, our service providers and our third-party marketing partners may have collected about you and the specific pieces of “personal information,” that Prosper, our service providers and our third party marketing partners may have collected and disclosed, but did not store and cannot associate with you.
| Categories and Specific Pieces of Personal Information Collected | Sources from which information is collected | Business Purpose | Categories of third parties to whom the business discloses information |
|---|---|---|---|
Identifiers
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We collect and process this information in order to (i) help ensure the security and integrity of our websites; (ii) identify and fix errors that affect the functionality of our websites; (iii) conduct internal research and analysis; (iv) determine eligibility for products and services; and (v) improve our websites and services. We collect and process this information for marketing purposes in order to present you with promotions, advertisements and other marketing communications, and offers. |
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Internet or electronic network activity
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We collect and process this information in order to (i) help ensure the security and integrity of our websites; (ii) identify and fix errors that affect the functionality of our websites; (iii) conduct internal research and analysis; (iv) determine eligibility for products and services; and (v) improve our websites and services. We collect and process this information for marketing purposes in order to present you with promotions, advertisements and other marketing communications, and offers. |
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Prosper’s Retention Policy
It is our policy to not retain personal information for longer than is reasonably necessary to achieve the purpose for which it was collected. The criteria we use to determine the specific retention period include: the type of information collected, our business purposes for retaining the information, and the various legal and regulatory requirements.
Sharing or Selling Your Personal Information
Prosper may sell or share, as these terms are defined by the state privacy laws, your personal information with third party marketing partners for marketing purposes. The categories of personal information that we may sell or share are:
We do not sell or share the personal information of consumers we actually know are less than 16 years of age.
You may have the right to opt-out of this sharing. For more information on your personal information sell/share rights see Do Not Sell My Personal Information.
Your Rights Under State Privacy Laws
Residents of states with applicable state privacy laws, including California, Oregon, and Minnesota (starting July 31, 2025), have the following rights:
How You Can Exercise Your Rights
To exercise one or more of your rights, you or your authorized agent may submit a verifiable consumer request in one of the following ways:
Please note that if you contact us with your request via email we may request additional information from you or your authorized representative as needed to authenticate your request. You may only make a verifiable consumer request to know or request for access twice within a 12-month period.
The verifiable consumer request must do the following:
Upon receiving a request to know/request for access or a request for deletion, we will confirm receipt within 10 days. If we can verify your request, we will make our best effort to respond within forty-five (45) days of our receipt of your request. If we require more time (up to 45 additional days), we will inform you of the reason and extension period in writing. Additionally, in our response, we will specify the manner in which we have deleted your personal information, in accordance with the applicable state privacy law.
We will not disclose information to you or delete information if we cannot verify your identity.
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Your Right to Appeal Our Decision
Certain state privacy laws, including Oregon, provide the right to appeal our decision to refuse to take action on your request. If you are a resident with the right to appeal, this information will be included in your privacy request response. You may exercise your right to appeal by contacting us at [email protected] with a brief description of your appeal request. You may exercise your right to appeal up to 30 days after receiving our response to your initial request. Upon receiving your appeal request, we will respond within forty-five (45) days of our receipt of your request.
Designating an Authorized Representative
You may designate an authorized agent to exercise privacy rights on your behalf.
To appoint an authorized representative to submit requests on your behalf, please provide us with written instructions stating the identity of the authorized representative and your authorization to have the representative act on your behalf. Please send the written instructions appointing your authorized representative to [email protected]. We may also request additional information from you as needed to authenticate your request. If an authorized representative is acting on your behalf to make a request to know/request for access, request for deletion, or request to opt-out, your representative may also contact us at [email protected] with a brief description of the request. Please note that we may request additional information from your representative as needed to authenticate your request.
Your authorized agent may also exercise your right to opt-out of targeted advertising and stop the use of certain third-party tracking technologies that are not considered our service providers by managing your cookie consent preferences when visiting our websites or by clicking on “Do Not Sell My Personal Information” at the bottom of www.prosper.com.
Contact Us
If you have any questions or concerns regarding this Notice, please contact us at [email protected] or at (855) 755-1919.
Last updated February 28, 2025
Federal Privacy Notice Rev. 02/2025
Why?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
When you are no longer our customer, we continue to share your information as described in this notice
How?
All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Prosper chooses to share; and whether you can limit this sharing.
For our everyday business purposes —
such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus
Yes
No
For our marketing purposes—
to offer our products and services to you
Yes
No
For joint marketing with other financial companies
No
We don’t share
For our affiliates’ everyday business purposes—
information about your transactions and experiences
Yes
No
For our affiliates’ everyday business purposes—
Information about your creditworthiness
Yes
Yes
For our affiliates to market to you
Yes
Yes
For nonaffiliates to market to you
Yes
Yes
To limit our sharing
Please note:
If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice (except where we have received your affirmative consent to begin sharing information sooner, through our privacy policy or otherwise). When you are no longer our customer, we continue to share your information as described in this notice.
However, you can contact us at any time to limit our sharing.
Questions?
Email us at [email protected] or call us at 1-855-755-1919
Who is providing this notice?
Prosper Funding LLC
Prosper Marketplace, Inc.
How does Prosper protect my personal information?
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and building.
How does Prosper collect my personal information?
We collect your personal information, for example, when you
We also collect your information from others, such as credit bureaus, affiliates, or other companies.
Why can’t I limit all sharing?
Federal law gives you the right to limit only
State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
What happens when I limit sharing for an account I hold jointly with someone else?
Your choices will apply to everyone on your account.
Affiliates
Companies related by common ownership or control. They can be financial and nonfinancial companies:
Nonaffiliates
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
Joint marketing
A formal agreement between nonaffiliated financial companies that together market financial products or services to you
Telephone Communications: Prosper and its authorized agents, service providers, Lending Partners and partners may monitor and/or record all telephone communications in accordance with applicable law.
Vermont Residents: We will not disclose information about your creditworthiness to our affiliates and will not disclose your personal information, financial information, credit report, or health information to nonaffiliated third parties to market to you, other than as permitted by Vermont law, unless you authorize us to make those disclosures. Additional information concerning our privacy policies can be found at https://www.prosper.com/legal/privacy-policy or call 1-855-755-1919.
Nevada Residents: We are providing you this notice pursuant to state law. You may be placed on our internal Do Not Call List by calling 855-755-1919 or emailing [email protected]. Nevada law also requires us to provide you with the following to obtain additional information: Prosper Marketplace, Inc., 221 Main Street, Suite 300, San Francisco, CA 94105; Phone: 1-855-755-1919; E-mail: [email protected]; and Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington Street, Suite 3900, Las Vegas, NV 89101; Phone: 702.486.3132; Email: [email protected].
North Dakota Residents: We will not share information we collect about you with non-affiliated third parties, except as permitted by law, such as to process your transactions or to maintain your account.
Texas Residents: For questions or complaints about this loan, contact Prosper Marketplace Inc. at 855-755-1919 or [email protected]. The lender is licensed and examined under Texas law by the Office of Consumer Credit Commissioner (OCCC), a state agency. If a complaint or question cannot be resolved by contacting the lender, consumers can contact the OCCC to file a complaint or ask a general credit-related question. OCCC address: 2601 N. Lamar Blvd., Austin, Texas 78705. Phone: (800) 538-1579. Fax: (512) 936-7610. Website: occc.texas.gov. E-mail: [email protected].