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When faced with medical costs, whether planned or unexpected, your top priority should be your health. You shouldn’t have to stress about how to pay for these expenses. That’s why we provide access to loans through Prosper, with flexible terms, fixed monthly payments3, and no prepayment penalties. This way, you can concentrate on what matters most–your health and well-being.
Checking your rate won’t affect your credit score
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Find answers to our community’s questions below, or visit our Help Center to learn more.
A medical loan is a type of personal loan designed to help people finance medical expenses. Some people use medical loans when their treatment is not fully covered by insurance or if they have high out-of-pocket expenses. Like with most personal loans, you borrow money from a lender and pay it back in fixed monthly payments over a set period, such as 2–5 years. Medical loans through Prosper are unsecured, meaning they do not require collateral. All personal loans made by WebBank.
You can check your offer for a medical loan through Prosper online in just a few minutes. Whether or not you get an offer for a medical loan can vary depending on several factors, including your credit worthiness, income, and the lender’s requirements. If you have trouble getting a medical loan on your own, consider applying with a co-applicant.
Yes. Borrowers can use the funds from a medical loan to pay for a wide range of medical costs, such as surgeries, treatments, medications, hospital stays, dental work, or other healthcare-related services. Healthcare financing through a medical loan is a good option for many people.
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 Personal loans through Prosper have an annual percentage rate (“APR”) of 8.99% to 35.99%, terms between two and five years, and an origination fee from 1% to 9.99%. For example, a three-year $10,000 personal loan with an interest rate of 9.38% and a 9.99% origination fee results in a 16.74% APR. You would receive $9,001.00 and make 36 scheduled monthly payments of $319.77. A five-year $10,000 personal loan with an interest rate of 11.14% and a 9.99% origination fee results in a 15.84% APR. You would receive $9,001.00 and make 60 scheduled monthly payments of $218.12. Whether you are eligible for a specific APR or loan term will depend on a number of factors, including (but not limited to) your current credit rating and information you provide in your application. The lowest rates are for the most creditworthy applicants. Your actual rate may differ. The average APR for loans with a 3-year term funded between January 1, 2024, and July 31, 2024, was 24.79%.
2 You may receive your funds one business day following 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 transaction processing speed.
3 Your monthly payment amount may be different in the final month of your loan.
4 Eligibility for personal loans up to $50,000 depends on a number of factors, including (but not limited to) your financial history, credit score, monthly income, and monthly expenses. Eligibility for personal loans is not guaranteed, and requires sufficient investor commitments to fund. All personal loans made by WebBank.
All personal loans made by WebBank. Prosper and WebBank take your privacy seriously. Please see Prosper’s Privacy Policy and WebBank’s Privacy Policy for more details.
