Prosper vs Personal Loans
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Prosper vs Personal Loans
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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:
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.
Personal Loans works to connect their customers with a reputable, qualified lender that can help with their personal loan needs. Personal Loans provides access to peer to peer loans, personal installment loans, and personal bank loans for customers located in all U.S. States except North Dakota and Maine. For those seeking a loan between $1,000 and $35,000 this company provides a lot of flexibility to suit the needs of many. Unfortunately we were unable to verify the current Better Business Bureau score of Personal Loans.
Personal Loans does require all customers be at least 18 years old, have a social security number, and be a legal U.S. citizen or permanent resident. Additional requirements include full time employment, self-employment or the receipt of Social Security benefits and/or disability. Customers are more likely to be accepted for a personal loan if they have a credit score of at least 580 or greater and a decent payment history.
The current loan rates through Personal Loans are not publicized due to the varying types of loans and number of lenders that are utilized. Requesting a loan at Personal Loans is rather straightforward:
Personal Loans does not charge you, the customer, for the lender connecting process. Any related fees are accessed directly to their lender partners. The website is informative and easy to navigate with the option to email or call if questions occur.
The benefits of working with Personal Loans is the variety of loan options, the quick approval process and the payment turnaround. Despite finding several positive customer reviews online we would have liked to have validated their BBB rating and found more history on the company to feel more confident. However, if you're looking for a personal loan, Personal Loans may be worth looking into when flexibility and speed are important.
To help you find the Best Personal Loans, TopConsumerReviews.com provides you with an in-depth comparison of Prosper and Personal Loans.
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:
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
CashCall, headquartered in Orange, was an early player in offering high-cost consumer loans to bad-credit borrowers and famously used the late "Diff'rent Strokes" actor Gary Coleman in a series of TV ...
Published: Tue, 14 Aug 2018 19:50:00 GMT
SAN FRANCISCO (AP) - In a win for consumers, the California Supreme Court ruled that interest rates on some personal loans may be so high that they are illegal under state law. The court in its unanim...
Published: Tue, 14 Aug 2018 14:30:00 GMT
Sonora, CA - The California Supreme Court found that interest rates on some personal loans may be so high that they are illegal under state law - ruling on the side of consumers. However, Monday's dec...
Published: Tue, 14 Aug 2018 19:15:00 GMT
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
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
SAN FRANCISCO - In a win for consumers, the California Supreme Court ruled that interest rates on some personal loans may be so high that they are illegal under state law. The court in its unanimous d...
Published: Tue, 14 Aug 2018 22:14:00 GMT
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