Prosper Review
A fixed-rate loan from $2,000 to $50,000 with no prepayment penalty, APRs from 8.99%, and an origination fee of up to 9.99% that comes out of the loan.
By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked October 20, 2026.
Our verdict
Prosper lends from $2,000 at fixed APRs from 8.99%, with no prepayment penalty and funding in about one business day. Its origination fee runs to 9.99% and comes out of the loan, and a check payment fee, late fee and insufficient funds fee also apply. Its own example shows a $10,000 loan at an 8.99% fee leaves $9,101 to spend.
Skip it if your score is under 640, since Prosper says that is the minimum to accept an offer, or if you cannot absorb the origination fee.
About Prosper
A fixed-rate loan from $2,000 to $50,000 with no prepayment penalty, APRs from 8.99%, and an origination fee of up to 9.99% that comes out of the loan. Prosper is offered by Prosper. Loans made by WebBank, Member FDIC. We could not find a published customer rating for it on Trustpilot or the Better Business Bureau, so none is shown.
Best for: Borrowers who want a smaller fixed loan with no prepayment penalty and can absorb the origination fee.
Editorial grade: B- (composite score 67/100).
Highlights
- APR 8.99% to 35.99%, with terms of 2 to 6 years, as published by Prosper
- Origination fee 1% to 9.99%, deducted from the loan proceeds
- $2,000 to $50,000, funded as soon as one business day after acceptance
- Never a prepayment penalty
What we like
- Fixed payments that do not change for the life of the loan
- Loans start at $2,000, below most bank minimums
- Checking your rate does not affect your credit score, and an offer code is accepted
Where it falls short
- The origination fee reaches 9.99%. On a $10,000 loan at an 8.99% fee, Prosper's own example leaves $9,101 to spend
- A check payment fee, a late fee and an insufficient funds fee also apply
- Prosper says a credit score of 640 or higher is needed to accept an offer, and that under 600 may not qualify
Fees, minimums, and rates
Monthly fee: Origination 1%–9.99%. Check payment, late and insufficient funds fees apply. Minimum to open: $2,000 minimum loan. Rates and fees last checked on October 20, 2026.
How we reviewed it
This is a desk review: we have not opened an account with Prosper. Loans made by WebBank, Member FDIC. It is built from Prosper. Loans made by WebBank, Member FDIC's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Personal Loans shortlist. The rubric is the same for every brand.
Similar products to compare
Read our full editorial methodology for how we review products.