Overall Satisfaction Rating
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Based on 27 ratings

Need a personal loan company?


    ConsumerAffairs Unaccredited Brand

    This company is not yet accredited. To learn more, see reviews below or submit your own.

    Be in the know

    Get trending consumer news and recalls


    Keep an eye on your inbox, the lastest consumer news is on it's way!

    Need a personal loan company?

      Are you this business? Learn more

      Prosper Reviews

      Sort: Top reviews
      Filter by: Any

      A link has directed you to this review. Its location on this page may change next time you visit.

      Page 1 Reviews 1 - 10
      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: Sept. 18, 2019

      I've taken 3 loans from Prosper over the last 5 years and have had a perfect experience every time. The first time I was buying my first car and was not interested in buying from a dealership at inflated prices, and I was also afraid of the risk of losing my means of transport if I lost my job or something else happened (sorry, grew up in the hood and saw it happen constantly). I was willing to pay a premium to be able to pay cash in hand and buy whatever I wanted from a private seller. The next time I had credit card debt and wanted to refinance it and buy a new car after my first one flooded while I was at work. No hiccups. Perfect process.

      My last loan was a simple measure or refinancing all the old stuff. My credit score is finally over 800 and sure enough, the 6.59% APR Prosper offered me reflected this. 5 years of business and payments. No hiccups whatsoever. Extremely fast loan funding and disbursal every time (last time, I was funded within like 2 hours). Understand your interest rates, service fees, and timelines, and opt out of autopay (sorry, not doing it unless you give me a discount on my APR), and you should have no problems! (Reading through some of these reviews) Instead of being insulted by the APRs they offer you, work on fixing the reasons behind those APRs. No institution is obligated to give you a loan.

      View more
      3 people found this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: June 27, 2019

      I have had two loans with Prosper and I have had no issues. The first time when my credit wasn't all that great and I got an APR of 15.9. I set up auto payments and was able to make additional payments as I could. Before I paid off the first loan I took out a second loan and since my credit has now improved I received an APR of 11.5%. I have since paid off both accounts. There are no prepayment penalties and all the information you need on your loan is available thru their website. I will probably use them again in the future.

      9 people found this review helpful
      Not sure how to choose?

      Get expert buying tips about Personal Loans delivered to your inbox.

      Thank you, you have successfully subscribed to our newsletter!Enjoy reading our tips and recommendations.
      We value your privacy. Unsubscribe easily.
      Rated with 5 stars
      Verified Reviewer
      Original review: Dec. 1, 2018

      Wow, I am reading all of the complaints on this site. And I have never experienced any of it. I currently have a loan with Prosper which started in 2016. They never asked me for any pay stubs. All they needed was proof that I had a business. They ran my credit, verified that my bank had been open for more than 3 months by me calling with them on the phone and bammm the money was in my account 3 days later! I received a 15,000 loan. Interest is kinda stiff but my tenants pay for that. Since, I've never received a call from them, they didn't harass me during or after the transaction was complete. I've never gotten a call from any Asians or anyone for that matter. I dealt with English speaking people during the deal. I didn't feel pressure, it was like a normal transaction. It seems like someone is scamming and pretending to be Prosper, maybe there's a fake website out there.

      People overseas are doing the all they can to scam people in the US. I tried calling HP about a printer and got the number offline where I was speaking to Asian speaking people who tried to con me and get personal information, they then tried to remote hack my computer. I immediately hung up and disconnected my wifi. WOW is all I can say. I will be doing another loan with Prosper when this one is done this year. I'm praying that I don't run into the problems that i'm reading about next time around.

      View more
      17 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer Verified Buyer
      Original review: Oct. 17, 2019

      I have called Prosper every week for a month and a half now trying to get my investment funds transferred to my checking account. Each time they have a different story and different date to when the funds will arrive, but they never do. I have been using them since 2012 and they have done nothing but go downhill. They are most likely about to shutdown. You should not borrow or invest with them. They may sound polite when you call them, but they are absolute liars. AVOID Prosper! Do not invest and do not borrow. They are the devil.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 5, 2019

      Invested $10K with Prosper in 8/2017. Set up balanced profile of auto investments at $100 each with mostly high-end rated loans. Average rate 13+%. 130 loans of $100 each, 7 of which defaulted. That $700 investment resulted in $2300 of write-offs (losses). Huh? And on two 1099 interest statements over the last 2 years I paid $600 in taxes on "interest" of $1500 I never received or could see reflected on my account. Now 2+ years later my account is $10,200 (I stopped investing in new loans), a -.42% return by their calculation, but closer to -1%. I can get a better return on my checking account.

      What's with this average 5-10% return with Prosper? Based on my experience, seems like it might be a scam. Helpful customer service agent couldn't answer my questions, and was unable to access historical data. Hmm. But sent me a pdf of thousands of numbers apparently listing all the info. Not willing or able to spend the time to decipher it. Not that many reviews online about Prosper, but I would be VERY VERY WARY. Sincerely, Tom **

      View more
      Be the first one to find this review helpful
      How do I know I can trust these reviews about Prosper?
      • 2,055,116 reviews on ConsumerAffairs are verified.
      • We require contact information to ensure our reviewers are real.
      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.

      For more information about reviews on please visit our FAQ.

      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 3, 2019

      Someone used my info to apply for a loan with Prosper. After confirming that this was a fraud - and me filing a case with FTC, Prosper would not tell me how much the loan was for?! I am trying to file a police report for heaven's sake! The rep was totally clueless and when I asked for a supervisor, he came back to say no one was available to provide me information. Whose side is this company on??! AVOID.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 6, 2019

      This is the worst company I’ve ever dealt with. They have rejected my online payments 7x now. I have emails and was told over the phone, "Your loan is PIF." Then it is pending for 10 days. They reject the payment and ask for a check that will take at least 10 days to process. They never told me they were rejecting the payments. I can see the payments taken out from my Wells Fargo acct then returned. Mind you they get to charge extra interest that way.

      I have now sent in 3 new emails to find out why the check I sent in on 8/20 has yet to be processed or any returned correspondence to say they did or didn’t get it. Why do the customer service agents tell people and send out emails things are paid off when they reject payments? Why don’t they accept the payment from my bank? They should be marked a scam since they don’t know how to respond to clients or accept payments. Every time they rejected my payment I got late fees since I could not make a payment since the account said PIF. No loan to pay... DON'T USE THIS COMPANY UNLESS YOU LIKE THROWING AWAY MONEY! Very unprofessional “company”.

      View more
      5 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 27, 2019

      I own a home and I inquired about a loan over 5 years ago and offered me a ridiculously high interest rate, over 20%. I declined. Ever since that day I haven't stopped getting junk mail since, 2-3 a week. They even followed me when I moved.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 7, 2019

      I called them today for a second loan. First time interest rate was 5.65%. Today, my credit is above 750 plus so I called them again. They approved an 18,000 dollar loan within minutes and quoted me an interest rate of 19.5%. They are nothing but loan sharks. Borrowers BEWARE!!!

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 5, 2019

      I've been an investor on the Prosper platform now for about 4 years, and I've got a bit over $25k invested. I never expected stellar results, but wanted to beat generic HYSAs, so it was good enough. I brushed aside the hidden smarmy fees, the high rate of defaults, and petty annoyances like dealing with the tax reporting, for a return of 3-6%, depending on the year.

      But. I'm taking all my money out now, because I'm livid about the absolute stupidity of their decision to gimp the investor website. They've removed the overview of account, showing previous years, and summing deposits, defaults, etc. Sure, the information's still there, and there's likely a way to use their API to display it yourself... if you want to spend the time doing it. And, if you have that time? Why not put that effort into something that's gonna make more --- and not hand out free money to people who realize there's no real penalty defaulting.

      This may seem like a petty reason to "take my money and leave", but the final straw is the exasperating rocket ship animation when you click on 'classic view', to be told it's been removed but, "Please leave feedback on what you'd like to see in the new interface we're working on!". That's right. They removed a perfectly working interface (ever used internally by Prosper reps, according to the ticket I opened about this!) that wasn't broken, without any replacement. That just makes me incredibly livid.

      From what I've gathered, the reasoning behind is they were caught 'fudging' the return numbers, and this way, since they no longer display those numbers, they're no longer liable. It's just --- no. I don't know if the other P2P lenders are this devious or unconcerned about their investors, but Prosper's lost my confidence. And my money.

      View more
      4 people found this review helpful
      Loading more reviews...

      Prosper expert review by Barbara Friedberg

      Prosper is the country's first peer-to-peer lending marketplace. The company has provided more than $2,000,000,000 in loans. Loan interest rates range from 5.99% for the most credit worthy borrowers to 36.00% APR for consumers with lower credit ratings.  Borrowers can obtain loans from $2,000 up to $35,000.

      • Financial and social rewards: As a peer-to-peer lending site, Prosper allows individuals and groups to lend money to their peers. Lenders reap both social and financial benefits from lending as well as greater returns than they would receive from a bank. This encourages people to fund loan requests. Borrowers understand that their loan is funded by other peers, not a traditional banking institution.

      • Easy rate retrieval: Customers quickly find out their loan interest rate by providing basic information online. Those borrowers with higher credit scores typically receive lower interest rates.

      • Simple funding process: Customers quickly find out their loan interest rate by providing basic information online. Those borrowers with higher credit scores typically receive lower interest rates.

      • No collateral required: Borrowers from Prosper don’t need collateral in order to qualify for a loan. Their funding is based on credit history as well as a few additional criteria.

      • Reputation: Prosper is Americas first peer-to-peer lending company and has a reputation for being a trustworthy and dependable personal loan company.

      • Best for: People looking to refinance debt, individuals starting a business, consumers facing financial hardship and those looking to finance a major life event.

      Profile picture of Barbara Friedberg
      Barbara Friedberg Personal Finance Contributing Editor

      Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

      Prosper Company Information

      Company Name:
      Year Founded:
      221 Main Street, Suite 300
      San Francisco
      Postal Code:
      United States
      (866) 615-6319
      Make the best choice, every time

      Join our community to stay up-to-date with the latest reviews, recall notices, and brand recommendations.

      Our community members are happier with their purchases than consumers who didn’t research before buying. To see why, sign up below!


      Keep an eye on your inbox, the latest consumer news is on its way!