Get Short-Term Loans With No Prepayment Penalties

Sometimes a short-term loan is exactly what you need—a loan you can pay back in three years or five years. A longer-term loan won't work when you're looking for a relatively small loan amount, no prepayment penalties, and a quick and easy application process. And, of course, you want all of this at a good rate.

Loans at Prosper are ideal short-term loans for many reasons. There are never any prepayment penalties at Prosper, which means the loans can be paid off as quickly as you're able. You create your entire listing online, any time of day. And the loan rates are competitive.

Get a Short Term Loan

A Pro-Consumer Short-Term Loan Online

In the competitive world of finance, a person needs to be careful to choose a loan with the best terms. In recent years, payday loans and title loans have become wildly popular, offering convenient short-term loans to the public. There's just one problem—they're usually offered at insanely high rates, gouging the borrower who might not even realize how much they're ultimately paying for their loan.

A Prosper loan is not a payday loan; it's an unsecured personal loan, available at a competitive rate. Rates depend on a borrower’s credit history and other information, and lenders choose loans to invest in based on your personal stories. At the same time, we always protect your privacy, and never divulge your identity.

Prosper is here for the benefit of our lenders and borrowers. Loan proceeds are automatically sent to your bank account when the loan is granted, and loan payments can be automatically withdrawn each month. Prosper makes it easy and convenient to pay off your loan in a timeframe that meets your needs.

You're A Real Person at Prosper

When you apply for a short-term loan at Prosper, you create a loan listing. This online loan listing helps you explain to Prosper lenders a bit more about yourself and why you need this short-term loan. This gives Prosper lenders a well-rounded idea of who you are, and more reasons why they should invest in you.

You can also, if you choose, get loans from your friends and family. They can invest in small amounts of your loan, supporting you without a large outlay of cash. And if your listing is endorsed by your friends and family, that helps to show other lenders that your friends trust you to pay them back, which may encourage other people to invest in your loan.

Prosper lenders are real people — just like you—looking to invest their money for a better return. When you pay the interest on your short-term loan, the profit goes to the people who supported your loan, and not a big faceless bank.

Create a Listing for a Short-Term Loan Today

So don't delay — get the loan you need and make your dreams a reality. Create your listing in just minutes..

Get a Short Term Loan

Does my credit score affect my loan?

Yes. Most lenders will look at your credit history, and Prosper lenders are no exception. If you are sure you have bad credit, you may want to consider improving it before you apply. If you are not sure of your credit score, we can help you find out now, for free, with no obligation.

The Prosper community does not require "perfect credit." If you have an average to an above average credit rating, one way to expedite your loan funding is to ask another Prosper member (especially a lender) to endorse you. Don’t know any other Prosper members personally? Invite a friend to join.


APR starting at

for best borrowers**
Rates from 5.99% to 36.00% APR

Loan Types

* Based on one year personal loans made to first time borrowers with an AA Prosper Rating. To qualify for an AA Prosper Rating, applicants must have excellent credit and meet other conditions. APRs by Prosper Rating range from 5.99% (AA) to 36.00% (HR) for first time borrowers. The average APR for borrowers during the period May 1, 2014 through October 31, 2014 was 17.87%.  Rate offered is based on Prosper Rating and other factors, and your actual rate may differ. Eligibility for a loan is not guaranteed and requires that a sufficient number of investors commit to fund your loan. Refer to Borrower Registration Agreement for all terms and conditions. All loans made by WebBank, an FDIC-insured, Utah-chartered Industrial Bank.