Prosper: Personal Loans 1.4.14

The Prosper: Personal Loans App offers a streamlined platform for exploring new loan options or managing existing loans with a professional interface designed for user convenience.

For those new to Prosper, the app provides a quick, two-minute estimate of potential personal loan amounts, interest rates, and monthly payments—without requiring the sharing of your phone number or email address. If the initial estimates are favorable, users can submit an application directly within the app in less than five minutes, with the possibility of next-day funding if specific conditions are met.

The app features fixed-rate, low-interest personal loans ranging from $2,000 to $50,000. The process allows clients to select loan terms between two and five years. Notably:

• Estimated loan amounts and interest rates are available with just three taps and two minutes.
• Applicants can choose between a minimum 2-year or maximum 5-year term.
• The application process is fully mobile, taking only minutes to complete.
• The offered Annual Percentage Rate (APR) varies from 8.99% to 35.99%, with the most competitive rates reserved for highly creditworthy borrowers.
• If an application is interrupted, progress can be resumed seamlessly.
• Funding can be expedited to next-day disbursement, contingent upon meeting specified requirements.
• All loans are issued by WebBank.

Existing borrowers can manage their loans conveniently via the same app. Features include secure login through biometric authentication such as fingerprint or face recognition, allowing users to make payments, set up auto-payments, or monitor loan progress effortlessly—all from their mobile device.

Additional features include:

• Manual or automatic payment management accessible anytime and anywhere.

Please note the following example for clarity on loan specifics: A three-year $10,000 personal loan could feature an interest rate of 9.38%, with a 9.99% origination fee resulting in an APR of 16.74%. The borrower would receive approximately $9,001 and make 36 monthly payments of around $319.77 each. Conversely, a five-year $10,000 loan might have an interest rate of 11.14%, with the same origination fee and an APR of 15.84%, resulting in the same loan amount disbursed and monthly payments of approximately $218.12 over 60 months. Origination fees typically range from 1% to 9.99%, and APRs are dictated by creditworthiness and application details.

Eligibility for loans up to $50,000 depends on application information and investor funding commitments. Approval is not guaranteed and is subject to meeting credit and other specified criteria as detailed in the Borrower Registration Agreement. All personal loans are extended by WebBank.

Founded in 2005 as the first peer-to-peer lending marketplace in the United States, Prosper has facilitated over $19 billion in loans to more than one million individuals. The platform enables both borrowers to secure fixed-rate, fixed-term loans and investors—whether individuals or institutions—to fund these loans and earn competitive returns.