Top PROSPER Alternatives

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.