TopConsumerReviews.com is a world-leading consumer product review site. We provide detailed reviews and ratings for thousands of products and services.

 

Prosper vs Better Loans Mutual

We recommend

 

Disclosure: We are not compensated by companies for their reviews, but we may be compensated for links and advertisements on our website. Click here for details.

 

PROSPER

Prosper launched in 2006 and, as of late, has had over $300 million loans funded from private investors. This California based company currently holds a decent Better Business Bureau rating of B+.

Prosper is also a social lending network that brings together those that need a loan and those willing to lend money. The loan size must be between $2,000 and $25,000.

The current loan rates at Prosper range from 5.99 to 36%. The website is easy to navigate through the application process. The loan application process consists of the following steps:

  • Enter the amount you want to borrow, the purpose of the loan, and your credit score range
  • Input your name, address, income, and date of birth and social security
  • Prosper will verify your identify and pull your credit score. Prosper will also assign a loan rate based on your creditworthiness
  • Investors will begin funding your loan which you may view online
  • Once fully funded, Prosper will do a final verification of your identity
  • Funds are deposited into your bank account direct

Most loans are funded within an average of 8 business days. Prosper does charge a fee to facilitate the lending process. A fee between .5 and 4.95% is taken from the loan upfront before you receive payment.

Prosper provides a simple lending process and a website that's easy to navigate. Loan rates can range a little higher at Prosper but the associated loan fees, to cover credit checks and administrative costs, are slightly lower. If you are in the market for a loan from $2,000 to $25,000, Prosper is worth your consideration.

Visit Site >

BETTER LOANS MUTUAL

Better Loans Mutual does not make personal loans directly. Rather, they connect borrowers with providers of auto loans. Most of the lenders who partner with Better Loans Mutual require that you:

  • Be employed (at least 90 days in your current position)
  • Be at least 18 years old
  • Be a US citizen or permanent resident
  • Have a post-tax income of at least $1,000 per month
  • Have a valid email address, home phone number, and work phone number

The total amount of your loan can be no higher than $5,000, the smallest amount of any of the sources of personal loans in our review.

When we tried calling the provided toll-free number, the message said, "Thank you for calling the Cash Request Center", not Better Loans Mutual. After entering our zip code, we were asked to enter a four-digit number representing our year. No matter what we entered, with or without the pound sign, it would not accept our information and terminated the call.

We similarly found no customer reviews of Better Loans Mutual, and no evidence that the referral service they provide is useful or even trustworthy. You'll be more likely to get the cash you need through another personal loan service, so we suggest you consider one of the more reputable, established lenders in our review.

Visit Site >


Personal Loans

To help you find the Best Personal Loans, TopConsumerReviews.com provides you with an in-depth comparison of Prosper and Better Loans Mutual.

Are you in need of some cash? Historically, borrowers have had limited options for a personal loan. You could ask a family member, a friend, or find a personal finance company that offered fixed-rate loans, typically at exobrtantly high interest rates.

Today, however, finding a personal loan brings several more options to the table. While you can still ask a family member, or get a high-rate loan from a finance company, you can also consider using a social lending network. These networks, also called peer-to-peer loans, generally have much lower overhead and as a result can offer much lower interest rates. They're facilitated by professional companies familiar with this type of lending, to simplify things for all parties.

No matter where you borrow money from, before you get your next personal loan you should consider the following:

  • BBB rating. Does the lending company have a solid history of doing good business with its customers?
  • Loan size and rate. How much will the lending company offer? What interest rate do they charge their customers?
  • Loan application process. When applying for your personal loan, can it be completed online? Is the lending process easy and straightforward?

TopConsumerReviews.com has reviewed and ranked the best online personal loan providers available today. We hope this information helps you find the best loan at an affordable rate that meets your needs!



Personal Loans In The News

7 ways to spot personal loan scams

When you're dealing with medical bills not covered by your insurance or car repairs not covered by your warranty, sometimes a personal loan) has you covered. You could even use a personal loan for a n...

Published:  Mon, 13 Aug 2018 16:06:00 GMT



Your Own Personal Loan Shark

Imagine paying outrageous amounts of interest to a greedy finance company and loving every minute of it. Or making off-the-record back-alley deals with a loan shark so you can skip all the credit chec...

Published:  Mon, 13 Aug 2018 21:26:00 GMT



Susan Tompor: Refinancing your car loan could save you this much money a month

Auto loan refinance information is hard to find Many times ... ABOUT THE WRITER Susan Tompor is the personal finance columnist for the Detroit Free Press. She can be reached at stompor@freepress.com.

Published:  Mon, 13 Aug 2018 08:12:00 GMT



5 Reasons to Get a Personal Loan

Though it would be nice to have an endless supply of funds, we all know that this is not always loan, you can choose the repayment schedule that will fit your budget. 2. Pay credit card debts Credit c...

Published:  Mon, 13 Aug 2018 13:58:00 GMT



How to Apply Online for Personal Loans

Why an instant approval personal loan might be the ideal choice for you In this article, we'll discuss how instant personal loans are always an option if you find yourself in need of some quick cash. ...

Published:  Sat, 21 Jul 2018 13:47:00 GMT



Personal loans surge to a record high

Heather Turner and her husband needed a few thousand dollars to jump-start the adoption of a teenager from Ukraine, and their timing was good: Lenders led by online firms have opened the spigot for pe...

Published:  Tue, 03 Jul 2018 21:30:00 GMT



LendingTree Study: Comparison Shopping for Personal Loans Can Save Consumers 35 Percent on Interest

CHARLOTTE, N.C., June 27, 2018 /PRNewswire/ -- LendingTreeĀ®, the nation's leading online loan marketplace, today released a new analysis of personal loan offers to LendingTree users that found shoppin...

Published:  Wed, 27 Jun 2018 18:13:00 GMT



Personal loans surge to a record as fintech firms lead the way

Heather Turner and her husband needed a few thousand dollars to jump-start the adoption of a teenager from Ukraine, and their timing was good: Lenders led by online firms have opened the spigot for pe...

Published:  Wed, 04 Jul 2018 05:27:00 GMT



Tanzania: Personal Loans Up - BoT

Dar es Salaam - Personal loans grew by 56 per cent during the third quarter of this year ended in March from a contraction of 4.9 per cent during the first quarter of last year ended in March. This si...

Published:  Wed, 13 Jun 2018 05:06:00 GMT




We recommend

 

- View Full Site -