SimilarSiteSearch SimilarSiteSearch

Top Alternatives to Prosper for Peer-to-Peer Lending

By Gregor K. published about 2022-12-29 03:17:04

Are you looking for a Prosper alternative? Prosper is a great website that allows users to borrow and lend money securely, however, there are plenty of other similar websites out there with their own unique benefits. In this article, we will be taking a look at some of the top Prosper alternatives, so you can find the best fit for your financial needs. We'll be exploring the features, fees, and other important details of these websites, so you can make an informed decision when selecting a Prosper alternative.

Prosper is a personal loan company that provides access to secured and unsecured personal loans. Borrowers can choose loan amounts between $2,000 and $35,000 and can get their loan funded in as few as three days.

Features

  • Quick and easy application process
  • Low interest rates
  • Flexible repayment terms
  • High loan amounts up to $35,000

Prosper Alternatives

LendingClub

LendingClub is the nation's largest online credit marketplace, connecting borrowers and investors. They offer fast, convenient access to personal loans and investing opportunities. With LendingClub, you can get the funds you need to consolidate debt, cover unexpected expenses, or pay for a major purchase.

Both are peer-to-peer (P2P) lending platforms that match borrowers and lenders for personal loans.

LendingClub has a minimum loan amount of $1,000 and Prosper has a minimum loan amount of $2,000.

Is LendingClub a good alternative?
|

Upstart

Upstart is an online lending platform that helps you get smarter about your finances. We offer personal loans with competitive rates, fast funding, and no hidden fees. Our goal is to make borrowing smarter, more affordable, and more accessible.

Upstart is another P2P lending platform that matches borrowers with lenders for personal loans.

Upstart considers education and job history when assessing borrowers, while Prosper does not.

Is Upstart a good alternative?
|

SoFi

SoFi is a financial services company that provides a range of services to help people manage their finances. It offers a variety of products and services, including student loan refinancing, personal loans, investing advice, and more.

SoFi is another P2P lending platform that offers personal loans.

SoFi has a minimum loan amount of $5,000 and offers loans for up to $100,000, while Prosper has a minimum loan amount of $2,000 and offers loans up to $40,000.

Is SoFi a good alternative?
|

Avant

Avant is a leading online lender offering personal loans and credit lines to borrowers of all credit levels. With our easy application process and fast funding, you can access the cash you need to cover unexpected expenses, pay off high-interest debt, and more.

Avant is another P2P lending platform that offers personal loans.

Avant requires no minimum credit score, while Prosper requires a minimum credit score of 640.

Is Avant a good alternative?
|

Best Egg

Best Egg is a lending platform that offers low interest loans for debt consolidation, home improvement projects and other personal needs. Our simple and secure online application process makes it easy to get the funds you need fast – without any hidden fees.

Best Egg is another P2P lending platform that offers personal loans.

Best Egg has a minimum loan amount of $2,000 and offers loans up to $35,000, while Prosper has a minimum loan amount of $2,000 and offers loans up to $40,000.

Is Best Egg a good alternative?
|

Payoff

Payoff is a financial services company that helps people pay off their debt and achieve financial freedom. With Payoff, you can consolidate your credit card debt into one manageable payment, with a lower interest rate and no hidden fees.

Payoff is another P2P lending platform that offers personal loans.

Payoff has a minimum loan amount of $5,000 and offers loan terms of up to five years, while Prosper has a minimum loan amount of $2,000 and offers loan terms of up to three years.

Is Payoff a good alternative?
|

CareCredit

CareCredit is a healthcare financing and payment plan solution for medical and dental procedures. With CareCredit, you can get the care you need and pay for it over time with low monthly payments.

Both Prosper and CareCredit enable users to access financial services such as personal loans and lines of credit.

Prosper is a peer-to-peer lending platform while CareCredit is a healthcare financing program.

Is CareCredit a good alternative?
|

Flourish

Flourish is a data visualization platform that enables anyone to quickly and easily create beautiful, interactive data visualizations for presentations, websites, and more. Flourish has a library of templates, data capabilities, and sharing tools to help you create stunning visualizations with ease.

Both Prosper and Flourish are websites designed to help individuals reach their financial goals.

Prosper is a peer-to-peer lending marketplace while Flourish is an online platform offering budgeting tools and savings advice.

Is Flourish a good alternative?
|

OneMain Financial

OneMain Financial provides personal loans to help consumers manage their financial needs. Our loan solutions are tailored to meet the needs of individual borrowers, so you can get the funds you need when you need them.

Both Prosper and OneMain Financial offer personal loan options to customers.

Prosper is an online-only lender, while OneMain Financial operates both in store and online.

Is OneMain Financial a good alternative?
|

Fundrise

Fundrise is a real estate investing platform that allows anyone to invest in residential and commercial real estate investments across the United States. They offer a variety of investment options, including eREITs, eFunds, and private market real estate investments.

Both Prosper and Fundrise are websites offering peer-to-peer lending platforms.

Prosper offers fixed rate loans while Fundrise specializes in real estate investments.

Is Fundrise a good alternative?
|

Kiva

Kiva is an international nonprofit that allows people to lend money to low-income entrepreneurs and students in over 80 countries.

Both Prosper and Kiva are peer-to-peer lending platforms that connect lenders with borrowers.

Prosper is focused on consumer loans and Kiva focuses on microloans to entrepreneurs in developing countries.

Is Kiva a good alternative?
|

LightStream

LightStream is a division of SunTrust Bank, offering a variety of personal loan products to help you finance purchases or consolidate debt. With competitive rates, a simple online application process, and friendly customer service, LightStream helps you make the most of your money.

Both Prosper and LightStream offer unsecured personal loans.

LightStream offers larger loan amounts up to $100,000 while Prosper offers loans up to $35,000.

Is LightStream a good alternative?
|

Happy Money

Happy Money is a financial services company that helps people maximize the value of their money. We provide tools and resources to help people make better decisions about their spending, saving, and investing.

Both Prosper and Happy Money are websites that provide personal loans.

Prosper provides a marketplace for peer-to-peer lending whereas Happy Money focuses on providing low interest rate loans.

Is Happy Money a good alternative?
|

LendingTree

LendingTree is an online lending marketplace that connects borrowers with multiple lenders to offer competitive loan offers.

Both websites offer access to various types of personal loans.

Prosper is a direct lending platform, whereas LendingTree connects borrowers with multiple lenders.

Is LendingTree a good alternative?
|

Prosper Head-To-Head

With the increasing popularity of online lending platforms, it can be difficult to determine which one is right for you. To help make this process easier, we’ve compared Prosper with other leading sites in the online lending space. In this head-to-head comparison, we’ll look at key factors such as loan terms, fees, and customer service to give a comprehensive overview of how Prosper stacks up against its rivals. Whether you're looking for a lower interest rate or better customer service options, this guide will provide all the information you need to make an informed decision.

Prosper
vs.
Avant

Prosper and Avant both offer personal loan services to consumers. Prosper is an online market platform that connects borrowers with investors while Avant is a direct lender. Prosper's website offers more features than Avant and has a more comprehensive selection of loan products. Prosper provides a wide range of loan amounts, from $2,000 to $40,000, with repayment terms of 3 or 5 years. They also offer fixed or variable interest rates and payment options that include weekly, biweekly, semi-monthly and monthly payments. Avant's website offers fewer features than Prosper and their loan amounts are limited to between $2,000 and $35,000 with repayment terms of 2 to 5 years. Their interest rates are higher than Prosper’s but they do offer the option of autopay for recurring payments. Both sites have helpful resources such as educational articles on personal finance topics which can help borrowers make informed decisions about their loans. However, Prosper's website also provides financial tools such as budgeting calculators while Avant does not.

Prosper
vs.
Best Egg

Prosper and Best Egg are both online lending marketplaces that offer personal loans to qualified borrowers. Prosper offers loans of up to $40,000 with a fixed APR from 5.99% to 35.99%. The loan terms range from 3 years to 5 years for unsecured loans, and the minimum credit score required is 640. Best Egg loans start at $2,000 and go up to $35,000, with an APR ranging from 5.99% to 29.99%. Loan terms also range from 3 years to 5 years and the minimum credit score is 640. Both companies have fast loan approval times, with funds available as soon as 1-3 business days after approval. Both sites also offer customer service support through email or phone. However, Best Egg has a dedicated team of loan advisors who can help customers with their loan application process if needed. Additionally, Best Egg allows borrowers to make additional payments without any penalties or fees while Prosper charges a fee for early repayment of the loan amount.

Prosper
vs.
LendingClub

Prosper and LendingClub are two of the leading peer-to-peer (P2P) lending platforms in the United States. Both offer borrowers a wide range of loan options with competitive interest rates. Prosper offers fixed-rate loans up to $40,000 while LendingClub has the ability to provide larger loans up to $100,000 with either fixed or variable rate options. Additionally, both P2P lenders have built-in credit analysis tools that allow potential borrowers to get prequalified for a loan without impacting their credit score. Additionally, both lenders provide helpful online resources such as educational articles and videos to assist borrowers in making informed decisions about borrowing money through P2P lending. One major difference between the two sites is that LendingClub requires potential investors to be accredited before investing whereas Prosper does not have this requirement. Lastly, Prosper has a more robust mobile app compared to LendingClub which has yet to launch an official app for its services.

Prosper
vs.
CareCredit

Prosper and CareCredit are both popular websites that provide financial services to individuals who need credit. Both offer a variety of options for financing purchases, such as personal loans, credit lines and healthcare financing. However, there are some key differences between the two. Prosper is best known for its personal loan service, which allows borrowers to borrow up to $40,000 with fixed rates and flexible payment terms. Additionally, Prosper offers an online marketplace for investors to purchase fractional shares of loans in order to fund them. CareCredit is a healthcare-specific credit card that can be used to finance medical procedures or products at participating providers. It offers low interest rates and no annual fees, making it an attractive option for those looking to finance medical expenses or treatments. Additionally, CareCredit has a wide network of providers and partners that makes it easy for customers to find a lender that works with their needs. Overall, both Prosper and CareCredit offer useful financial services for individuals who need credit. Ultimately, the choice between the two depends on the specific needs of the individual borrower.

Prosper
vs.
Flourish

Prosper and Flourish are both personal finance websites that offer users the ability to manage their money and reach important financial goals. Prosper is a peer-to-peer lending platform where users can borrow money from others, while Flourish offers traditional banking services such as checking accounts, debit cards, and loans. Both sites provide ways for users to track their spending, set up automatic savings plans, budget more efficiently, and get an overall view of their financial health. However, Prosper focuses more on investing by providing access to individual stocks and bonds as well as ETFs and mutual funds. On the other hand, Flourish provides educational resources such as calculators, podcasts, blogs and articles to help people learn about investing basics. Ultimately, Prosper is best suited for those looking for a quick loan or investment advice while Flourish is better for those who need help with budgeting and financial planning.

Prosper
vs.
OneMain Financial

Prosper and OneMain Financial are both online loan providers that offer personal loans with competitive interest rates. Both websites have streamlined application processes, allowing borrowers to apply for a loan quickly and easily. However, Prosper has a more comprehensive range of loan features than OneMain Financial. It allows borrowers to customize their repayment plans and choose from different types of loans depending on their needs, such as secured or unsecured loans. In addition, Prosper also offers tools to help borrowers manage their loan repayments by providing insights into their credit score and allowing them to set up automated payments. On the other hand, OneMain Financial does not provide any additional services such as these. As a result, Prosper is the better option for those who want greater flexibility when it comes to their loan repayment plans and credit management tools.

Prosper
vs.
Fundrise

Prosper and Fundrise are two popular peer-to-peer lending companies that allow investors to lend money directly to borrowers. While both offer a unique opportunity for investors to diversify their portfolio and receive a higher return on investment than traditional banking, there are several differences between the two sites. Prosper offers automated investing with its Easy Invest feature, which allows investors to quickly invest in pre-selected loan listings with one click. Its loans range from $2,000 to $40,000 and target borrowers with good credit scores. Prosper also provides investor education resources such as webinars and online courses. Fundrise is more of a real estate investment platform than Prosper, allowing investors to buy into eREITs (real estate investment trusts) or eFUNDs (funds of real estate investments). These investments range in size from $500 up to millions of dollars. Additionally, Fundrise has a personalized approach to investing by offering advice from their team of experts and customized portfolios tailored to each investor’s specific risk tolerance and goals.

Prosper
vs.
Kiva

Prosper and Kiva are both peer-to-peer lending websites that provide individuals with a platform to lend money to others. Prosper is an online marketplace for personal loans, while Kiva is a non-profit organization that specializes in microloans for entrepreneurs in developing countries. Both platforms offer the ability for investors to customize their loan portfolio according to risk tolerance and return expectations. Prosper provides more flexibility for borrowers by allowing them to borrow up to $40,000 and choose from various repayment terms ranging from 3 years to 5 years. Kiva does not directly provide loans, but instead supports local field partners who administer the microloans. Borrowers on Kiva are typically asked to repay within 12 months at a fixed interest rate determined by the field partner. Prosper offers borrowers access to a variety of credit scores, including Experian and TransUnion, while Kiva utilizes an alternative credit scoring system based on data like whether or not a borrower has repaid similar loans in the past. Prosper also offers an automated loan recommendation engine which suggests potential loans tailored specifically to each investor's individual risk profile. Both Prosper and Kiva have stringent requirements for lenders and borrowers, but they differ in terms of qualification criteria and minimum investment amounts. On Prosper, investors must be accredited and must commit at least $25 per note while on Kiva lenders can qualify with as little as $25 per loan note with no accreditation required.

Prosper
vs.
LightStream

Prosper and LightStream are both online lending companies that provide access to personal loans for consumers. Both companies offer loans from $2,000 to $40,000 with fixed interest rates and repayment terms of 36 or 60 months. However, there are some differences between the two websites. LightStream offers refinancing options for existing debt and charges no application or origination fees. It also has a “Rate Beat Program” which promises to beat any competitor’s rate by 0.10%. In addition, LightStream offers a payment deferment option which allows borrowers to delay their first payment up to 12 months after loan funding if they meet certain eligibility requirements. Prosper does not currently offer refinancing options or a Rate Beat Program, but they do have an AutoPay discount of 0.50% when payments are set up on autopay and can be used in combination with other promotional offers. Additionally, Prosper has a “Prosper Rating” system that assigns each borrower a risk score (based on creditworthiness) which helps them determine the interest rate they will receive on their loan.

Prosper
vs.
Upstart

Prosper and Upstart are two peer-to-peer lending websites that provide borrowers with access to funds from a network of individual lenders. Both Prosper and Upstart offer competitive interest rates and affordable fixed payments. With Prosper, borrowers can apply for loans up to $40,000 with repayment terms from 3 to 5 years, while the maximum loan amount offered by Upstart is $50,000 with repayment terms from 3 to 7 years. Both sites have similar requirements for approval and require detailed financial information from applicants including debt-to-income ratio, credit score, employment history and income verification. They also both offer a variety of loan types such as personal loans, debt consolidation loans, home improvement loans and more. The main difference between the two sites is in their approach to borrower approval: Prosper uses its own algorithm to determine risk factors associated with each borrower, while Upstart takes into account additional criteria such as educational attainment and job history when making decisions on loan approval.

Prosper
vs.
Happy Money

Prosper and Happy Money are both personal loan websites with similar features, such as online application and loan funding. Both offer fixed-rate loans with repayment terms between 3 to 5 years. Prosper is a peer-to-peer lending platform that allows borrowers to receive funds from individual investors, while Happy Money is an online lender that provides access to the funds it has on hand. Both platforms provide access to funds quickly, though Prosper’s loans take a few days longer due to its peer-to-peer requirement. Borrowers can also expect competitive interest rates from either platform depending on their creditworthiness. Both Prosper and Happy Money also require an origination fee when taking out a loan, which can range from 0.99% up to 8%. Lastly, both sites allow borrowers to check their eligibility without impacting their credit score.

Prosper
vs.
Payoff

Prosper and Payoff are both online personal loan services tailored to people with good credit. Both websites offer the convenience of applying and managing an account online, as well as the ability to contact customer service through a variety of methods. The main difference between Prosper and Payoff is their approach to loans. Prosper offers fixed-rate loans for up to $40,000, and borrowers can choose from varying loan terms ranging from 3-5 years. In contrast, Payoff has a more holistic approach offering debt consolidation loans designed mainly to pay off credit cards. Borrowers can take out a single loan up to a maximum of $35,000 with terms ranging from 2-5 years. Additionally, Payoff provides customers with free access to financial coaching services. Both Prosper and Payoff have similar eligibility requirements, but each have different credit score requirements. To be eligible for a loan on Prosper, customers must have a minimum FICO score of 640 or higher; however, on Payoff customers must have at least 660 or higher FICO score in order to qualify for one of their products. In summary, Prosper and Payoff offer competitive services designed for people with good credit that differ slightly in their approach.

Prosper
vs.
SoFi

Prosper and SoFi are two online lending platforms that provide access to personal loans. Both offer a streamlined application process, quick decision times and flexible loan options. Prosper offers loans of up to $40,000 while SoFi provides loans up to $100,000. Additionally, Prosper allows borrowers to choose from three- or five-year term lengths while SoFi offers flexible repayment terms ranging from one to seven years. Both websites also have borrower education materials such as budgeting tools and financial calculators. However, one key difference between the two is that Prosper does not accept co-signers for its loans while SoFi does. This may be beneficial for those who do not have high enough credit scores or income levels on their own but have a friend or family member willing to co-sign the loan with them. Ultimately, both Prosper and SoFi are reliable resources for personal loan needs with different features depending on the individual’s situation.

Prosper
vs.
LendingTree

Prosper and LendingTree are both online loan marketplaces that provide borrowers with competitive interest rates. Prosper is a peer-to-peer lending platform, allowing investors to fund loans. It offers personal loans of up to $40,000 with terms ranging from 3-5 years and fixed or variable interest rates. Borrowers can get their funds as soon as the next business day after approval. Prosper also has an educational component to help borrowers understand the loan process and make informed decisions. LendingTree is an online loan marketplace that connects borrowers with lenders offering personal, home equity, auto, student and business loans up to $1 million with terms from 36 months up to 180 months. It also provides tools like calculators and comparison shopping for potential borrowers to determine their best options and compare costs between different lenders. Additionally, LendingTree offers customer service representatives available to assist both borrowers and lenders during the application process.

Prosper
vs.
Upgrade

Prosper and Upgrade are both peer-to-peer lending websites that offer personal loans to help borrowers meet their financial needs. Both websites provide customers with access to funds for a variety of purposes, such as debt consolidation, home improvement, medical expenses, and more. However, there are some key differences between the two sites. Prosper is a fully automated platform that offers loans up to $40,000 with loan terms ranging from 36 to 60 months. Borrowers have the option to choose fixed or variable interest rates. The website also provides an online marketplace where lenders can bid on loans. Upgrade offers larger loan amounts of up to $50,000 with repayment terms up to 84 months. It also has a more flexible application process that allows borrowers to get preapproved without impacting their credit score and without providing detailed documentation. In addition, Upgrade allows users to make additional payments without penalty or fees.


History of Prosper

Prosper is a website that was founded in 2006 and is one of the first peer-to-peer (P2P) lending marketplaces. It enables individuals to invest in each other in a way that is more affordable, convenient and transparent than traditional banking options. Prosper allows borrowers to access loans from a range of investors, and for investors to select from various loans that fit their risk profile and financial goals. The website grew rapidly and has since become one of the largest online lending marketplaces in the US.


Prosper Status

The Prosper website on online and reachable (last checked on 2024-04-22 01:00:45).

Online
Last checked 2024-04-22 01:00:45.
Uptime overview of the past three days.
Do you have problems accessing Prosper's website? .
Check Prosper's Twitter for recent updates.

Comments

  • I'm wishing for a "Not-so-Prosper" website!

    2023-03-19 16:46:48 ·
  • I'm not sure if I should be worried or happy about there being so many Prosper-like websites!

    2023-04-17 13:25:44 ·
  • I'm starting to think I should be investing in these Prosper-like websites!

    2023-05-14 14:23:13 ·
  • If you can't find what you're looking for on Prosper, you can always check out one of these other sites!

    2023-09-07 03:33:02 ·
  • At least the competition means that Prosper has to stay on top of their game!

    2023-11-07 08:52:02 ·
  • I'm sure it's only a matter of time before there's an even better Prosper-like website!

    2024-02-15 00:46:40 ·
  • What a great way to Prosper-ize your life without having to leave the comfort of your own home!

    2024-02-29 08:17:05 ·
  • Now I know where to go if I ever need to Prosper-ize my life!

    2024-04-05 03:44:49 ·
  • If this list is any indication, it looks like Prosper is the new trend!

    2024-04-12 18:05:24 ·