Top Three Borrower Questions

Can I change my payment due date?
No. Unfortunately, it’s not possible to change your payment due date at this time.

I’ve completed my loan application, when do I get my money?
If you’ve created a borrower listing, you’ve created a request for a loan which lenders can invest in. First, enough lenders will need to invest in the listing for it to be 100% funded. At that point, you can either let the auction continue for its full 14 days, or you can end it early. Prosper must complete the loan review process before Prosper can transfer loan proceeds to your account. The loan review process itself will last no longer than seven business days. Loan proceeds should be available to you one to three business days after your listing is approved for funding.

Can I pay extra on my monthly loan payment?
The automatic monthly ACH payment is always for the same amount. You can make an extra manual payment to pay down your loan or pay off your loan in full. There is never a fee for doing this.

Top Two Investor Questions

Why do transfers take so long?
Bank transfers are done through an ACH transfer. Funds from ACH transfers take two to four business days before they become available in the destination account. When a transfer runs over a weekday or bank holiday, it may take longer than you anticipated.

Can I cancel a transfer I have already initiated?
No. Unfortunately, you can only cancel a funds transfer which is not yet processing (that is, a status of “Scheduled”).