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

 

Prosper vs NetCredit

We recommend

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

 

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 >

NETCREDIT

NetCredit is new to the personal loan business. This Chicago based company opened doors in 2012 and currently hold a strong A- Better Business Bureau rating. NetCredit offers unsecured personal loans between $1,000 and $10,000 to customers of all credit scores. The process of applying and obtaining a loan is completely online. There's no need to make an appointment and take time away from work just to fill out a loan application.

NetCredit provides the funds for all of the personal loans issued from this company. The process is very simple:

  • Customers identify how much they'd like to borrow and for what purpose
  • Complete a quick and easy application that allows NetCredit to identify your name, your contact details, work history and more
  • Applicants can expect an immediate response upon submission of their application with the maximum loan amount and terms
  • The customer then identifies how much they would like to borrow and accepts the terms of the agreement
  • Loans are typically sent via direct deposit by the next business day unless documentation is required or questions still exist.

Interest rates are dependent on the loan size and your credit worthiness. Because of this, NetCredit does not publish their loan interest rates online. Loan payments back to NetCredit can be drawn automatically from your bank account and occur over time, based on the terms of the loan. Outside of interest, there are no associated fees with obtaining a loan at NetCredit. For those attempting to build back their credit, NetCredit does report payment history and activity to both Experian and TransUnion.

The only downside to working with NetCredit, at this time, is that they currently provide loans in only 13 states. While we believe they will be adding to the list over time, customers in states not supported by NetCredit will not be able to work with them until further expansion. However, if you are in a state that NetCredit does operate in, they offer a fast loan application and quick approval process. NetCredit is worth your consideration.

Visit Site >


Personal Loans

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

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

How to Get Pre-Approved for a Personal Loan in 4 Steps

Meta Description: The personal loan process is rather quick and painless these days. Here's what you need to know. Promo: If you're in the market for a personal loan, here's the best ...

Published:  Mon, 17 Dec 2018 05:00:00 GMT



Need Money Here's How You Can Use Social Security as a Loan

Well, guess what: There is a way to use Social Security as a loan of sorts. You just need to go about it ... be a lifetime of higher benefits in retirement. Maurie Backman is personal finance writer w...

Published:  Tue, 18 Dec 2018 02:36:00 GMT



Should I Get a Payday Loan for the Holidays

Other types of loans also have significantly lower interest rates-whether a personal loan or an online loan. Read how payday loans compare to personal loans. Payday loans are also often limited ...

Published:  Tue, 18 Dec 2018 09:34:00 GMT



Can personal loans be included in bankruptcy

Personal loans from friends, family and employers fall under common categories of debt that can be discharged in the case of bankruptcy. A discharge releases individual borrowers from the legal obliga...

Published:  Fri, 14 Dec 2018 19:28:00 GMT



The 5 Cs of Credit and How They Affect Your Self-Storage Loan Application

Most credit analyses use five categories, known as the five Cs, to evaluate loan risk: character, capital, conditions, collateral and cash flow. Documents such as personal tax returns, personal financ...

Published:  Mon, 17 Dec 2018 13:29:00 GMT



Personal loans: how they can hurt you financially in the long run

Ahead of the holiday season, some shoppers may be tempted to take out a personal loan to pay off some of their debt. However a recent report spells out the risks with these types of loans. The report ...

Published:  Fri, 30 Nov 2018 13:09:00 GMT



Home Equity Loan vs. Home Equity Line of Credit

You benefit from gaining access to cash, and the interest rate on both types of loans tends to be lower than the rates on personal loans or credit cards because the loan is secured. In both cases ...

Published:  Mon, 17 Dec 2018 05:28:00 GMT



How to Get Tax Exemptions on Personal Loans

But there are ways you can get tax exemptions on personal loans that depend on the purpose that you avail the loan for. 1) For investing in business If the personal loan taken out is invested into a b...

Published:  Mon, 26 Nov 2018 12:38:00 GMT




We recommend

 

- View Full Site -