PROSPER

PROSPER

By: Prosper Funding LLC

Prosper is a marketplace that provides person-to-person lending utilizing a listing and bidding process to get competitive rates for loans. It connects people who are looking to borrow money with people who are investors. They give low fixed rates without any of the hidden fees and red tape associated with other types of loans. The platform also allows people to invest in each other in a way that is financially and socially rewarding.

From: USA Web Visibility: 65.13%
Based on 1 Vote
Top PROSPER Alternatives
  • Credible
  • Lending Club
  • SoFi
  • Avant
  • Mintos
  • Driva
  • Earnest
  • UpStart
  • Zopa
  • Funding Circle
  • OnDeck
  • Fundbox
  • Iwoca
  • Fundation
  • SpringLeaf
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Top PROSPER Alternatives and Overview

1

Credible

Credible is the multi-place market lender that allows borrowers to receive competitive loan offers from its vetted partners.

By: Credible Labs Inc. From USA
Based on 14 Votes
2

Lending Club

Lending Club is the online credit marketplace, facilitating business loans, personal loans, and financing for elective medical procedures.

By: LendingClub Corporation From USA
3

SoFi

Sofi is a modern finance company that offers low rates for student loan refinancing, mortgages, and personal loans.

By: Social Finance, Inc. From USA
Based on 1 Vote
4

Avant

Avant is a platform that offers access to personal loans at competitive interest rates with a quick and transparent process that is entirely online.

By: Avant, Inc. From USA
5

Mintos

Mintos is a peer-to-peer lending marketplace that connects investors with borrowers of various loan originators.

By: Mintos Marketplace, AS From Latvia
6

Driva

With the hundreds or even thousands of lenders you can find today, it might get harder for you to pick the one that can provide the best rates for your vehicle loan.

By: Driva From Australia
7

Earnest

In order to give credit, they evaluate a person’s full education, employment, and financial...

By: Earnest Operations LLC From USA
8

UpStart

The platform offers lower interest rates, no prepayment penalty, quick and easy, and secure...

By: Upstart Network, Inc. From USA
Based on 2 Votes
9

Zopa

They offer borrowers competitive low rate loans by matching them to our lenders who get...

By: Zopa Limited From UK
10

Funding Circle

It aims to help businesses struggling to access mainstream sources of finance while providing individual...

By: Funding Circle Limited From USA
11

OnDeck

The platform uses data aggregation and electronic payment technology to analyze the financial health of...

By: On Deck Capital, Inc. From USA
Based on 1 Vote
12

Fundbox

For example, if you have outstanding invoices, it will advance 100% of your payment...

By: Fundbox ltd From USA
Based on 3 Votes
13

Iwoca

That includes restaurants, hotels, retailers, service providers, and mor1e...

By: iwoca Ltd From UK
14

Fundation

Their technology streamlines the small business loan application process by collecting third party data...

By: Fundation Group LLC From USA
15

SpringLeaf

It offers secured and unsecured personal loans...

By: Springleaf Finance, Inc. From USA

PROSPER Review and Overview

Prosper is a loaning solution for the current age. It utilizes a p2p (peer-to-peer) network in order to send loaned money from a loaner to the borrower directly and vice-versa, making the process of lending and borrowing fast and simple. It is also highly secure as several measures of identity verifications are taken before transferring the loan over extremely secure channels.

The loaning plans are customized according to the borrower’s history and credit scores, which are analyzed by Prosper to produce the best and the most suitable schemes, both for the borrower and the lender. Thus, Prosper is becoming one of the leading loaning platforms in this digital era.

Connecting the investing party and the borrower digitally

Prosper uses an extremely novel method of loaning by allowing people to invest their money as lenders and allowing borrowers to choose the best loan scheme that they can get. This means that the online platform behaves like an online store, with loans as its products, lenders as its sellers and borrowers as its buyers. This not only greatly simplifies the process, but also benefits every party involved due to its flexibility.

Building up the money to lend

Prosper does not directly lend money to the borrowers. It, instead, allows any interested party to act as a lender. These people are termed as “investors”, and they are the main source of loans for the platform. These investors can invest a certain amount of money for lending and can set up the schemes for payment of the debt. For this, the investor must simply make an account and verify their identity. Management of the schemes is made even easier through the Prosper Invest mobile app, which allows users to track their revenue, loaning statistics and change any scheme if required.

Borrowing smarts

Borrowers can get the best loan offers based on their credit scores through Prosper. They can get an idea of their worth in the crediting industry through an integrated tool in the Prosper platform. After verifying their identity, they can easily start getting loans and paying debts, all without any additional, hidden conditions.

Company Information

Company Name: Prosper Funding LLC

Company Address: 221 Main Street Suite 300, San Francisco, CA, USA

Founded in: 2005