Speaking of Prosper Loan Marketplace, the very first U.S peer-to-peer lending platform “Prosper loans” came into establishment in 2005 in the United States Marketplace. Since its inception, Prosper has assisted over $20 billion in loans to more than one million people.
Prosper loan is a platform that enables individuals to invest amongst themselves in a way that is financially and socially rewarding. Persons who intend to borrow can apply online for a fixed-rate, fixed-term loan between $2,000 and $40,000.
Also, it is accessible to individuals and institutions to invest in loans and earn attractive returns. Prosper loans deals with loan servicing on behalf of the matched borrowers and investors. Leading investors in Prosper’s loan marketplace include Sequoia Capital, Francisco Partners, Institutional Venture Partners, and Credit Suisse NEXT Fund.
Prosper Loan Marketplace
In a nutshell, Prosper is a loaning platform that provides personal loans to its customers. Customers who desire to reap the best benefits of the prosper loan platform must have a fair and good credit borrower.
In this article, we are going to show you how to apply and log in to the Proper website www.prosper.com, keep reading to get the full information. Before then, let us look at some of the major features that make Prosper different from all other loaning platforms globally.
Features of Prosper Loans
Prosper loans can be used for different purposes, some of which are listed below;
- They’re used to for home improvement
- For Debt consolidation
- To Make large Purchases
- For medical and dental expenses
- Fixing and purchasing vehicles
- For funding household expenses
- Prosper loans can be used for funding special occasions
- It can be used for business start-up and funding a business
- Prosper loans can be used for tax payment
- For baby expenses
Note: The above-listed purposes can be embarked on using the Prosper loans, however, there is an exception, prosper loans can not be used for the purpose of paying for post-secondary education.
Other Features Of Prosper loans are;
- Prosper loan can facilitate your application for joint loans
- You get to check your credit rates without affecting your credit report
- Paying back your loans early exempts you from any prepayment penalty.
Requirements For Prosper loans
Unfortunately, not everyone can secure a loan from prosper. You must meet certain criteria to obtain a loan from prosper platform, the criteria are stated below:
- You must have a minimum credit score of 600, and the borrower’s average must be 722 and above.
- 2 years is usually the minimum credit history
- The borrowers average is $106, 000
- The maximum debt to income ratio must be 50%.
- Securing this loan simply means you’ve had no bankruptcies between the past year.
- Requirements of at least three open accounts on a credit report
- The minimum age to applying for Prosper loans18 years
- You will be required to provide a U.S bank account and a social security number.
Applying For Prosper Loans
It doesn’t take much to obtain Prosper loans as the application process is very easy and smooth. Follow the steps to obtain a loan from Prosper
- Visit the official webpage of Prosper loans at: prosper.com
- Once the page shows up, you will be required to fill in your desired loan amount, as well as the reason for the loan application
- Once you’re done with that, click on check your rate
- On the next page, you will be asked the amount you want to borrow, choose an amount, and click next
- Then, the next thing is for you to choose your plans to pay back your loan, choose any option of your choice, and click next
- Another page will pop up asking if it’s a joint loan or personal loan? Select your preferred and continue by clicking next
- Then you enter your personal information on the subsequent page and click next
After entering your personal and income information, the platform will then review your application which will take a few minutes
If you have a good credit history and score, then your chances of gaining approval will be high because the prosper loaning platform gives loans based on credit history and credit score.
How To login To Your Prosper Loan Account
Please note that only registered members with the website can secure the Prosper loans. To access your prosper account, follow the steps below;
- Visit prosper.com from your browser
- When it opens, click the three vertical lines at the right part of the top part of the page
- Then enter your email or password and click on the login
Forgotten Your Prosper Loans Password?
Is not a big deal if you forgot your password, simply select “Use your password instead” from the options on the Sign In page at: https://www.prosper.com/auth/signin-with-magic-link
Prosper loans FAQ – Prosper Loan Marketplace
Is the Prosper loan platform legit?
Yes! Proper loan platform is a legit platform with which you can get personal loans. It was created to provide help for you during times of need. Hence, it is not a scam website.
Can I sign in without a password?
Yes, you can sign in without a password, just enter your email address into prosper Sign In page at: https://www.prosper.com/auth/signin-with-magic-link and press Next, then check your inbox for a secure sign in email sent to you.
How do I find my loan details?
Simply log in at: https://www.prosper.com/auth/email-code to your Prosper account and Select “Borrowing” shown in the site header. You will find your loan details shown to you on the page you are directed to.