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Compare sites like Prosper

This peer-to-peer lender could get you up to $40,000 to consolidate your debt, start a business, improve your home and more.

Prosper is a peer-to-peer (P2P) platform that offers investor-funded loans from $2,000 to $40,000. Its rates are low compared to other peer-to-peer providers, running from 7.95% to 35.99%. And it accepts credit scores starting at 640 .

But because it’s a P2P platform, it relies on an origination fee of 2.4% to 5% for revenue — the interest goes to the investors who fund your loan. It also only offers a choice between two loan terms of 36 or 60 months.

Typically it takes Up to five business days to get your loan. Other online lenders might offer better deals or have more relaxed requirements.

What’s changed for 2022?

We removed Peerform from our list of alternatives. This lender is no longer accepting loan applications as of July 2022. We added Avant to the list because it accepts self-employment income and has a low credit score requirement, making them a decent alternative to Prosper.

5 top alternatives to Prosper personal loans

  • If you have excellent credit:SoFi
  • If you have good credit:LendingClub
  • If you’re building your credit after college:Upstart
  • If you have fair credit:Upgrade
  • If you’re self-employed:Avant

Alternative for excellent credit

SoFi personal loans

4.45 / 5

SoFi is an online lender that offers some of the lowest rates out there starting at 7.99% APR. It started as a P2P platform like Prosper, but now it funds its own loans, which range from $5,000 to $100,000. Because it's no longer a P2P platform, it doesn't rely on origination fees to make money. In fact, there are no fees at all. If you qualify, you can also take advantage of member perks like career coaching and financial advice. But you'll need to meet its strict requirements, which include a 680 minimum credit score.

  • Not available in: Mississippi
  • Low fixed and variable rates
  • No fees, not even late fees
  • Member perks
  • High minimum loan amount of $5,000
  • Higher minimum credit score than Prosper
  • Turnaround up to 30 days
Loan Amount$5,000 to $100,000
APR7.99% to 23.43%
Interest Rate TypeFixed
Min. Credit Score680
Turnaround TimeAs soon as the same day
Maximum Loan Term7 years
Minimum Loan Term2 years

Alternative for good credit

LendingClub personal loans

3.6 / 5

LendingClub might be the closest alternative to Prosper. It's a P2P platform that offers a slightly wider range of loans, from $1,000 to $40,000 with the same credit score requirements. But rates start higher, at 6.34%. And while LendingClub's origination fee of starts lower than Prosper, it ends higher. But unless you can qualify for the lowest rates available, these providers are similar enough that it may be worth prequalifying with both before you make a decision.

  • Not available in: Idaho, Iowa
  • Loans start at $1,000
  • Origination fees start at 1%
  • Close alternative to Prosper
  • Higher max origination fee than Prosper
  • Turnaround of at least four days
Loan Amount$1,000 to $40,000
APR6.34% to 35.89%
Interest Rate TypeFixed
Min. Credit Score600
Turnaround Time2 business days
Maximum Loan Term5 years
Minimum Loan Term3 years

Alternative for people building credit after college

Upstart personal loans

4.15 / 5

Upstart is an online lender that specializes in funding fair-credit borrowers who haven't had a chance to build a strong credit profile. It considers factors like your level of education and career to help you qualify for a loan, and may be a good alternative to Prosper if you're new to the workforce. You only need a 300 credit score to qualify. Its rates are similar to Prosper, running from 5.6% to 35.99% — and you can borrow between $1,000 and $50,000. But origination fees range from and it also only offers two loan terms of three or five years. Upstart also only considers individual income when you apply, not household income.

  • Not available in: West Virginia
  • Lower minimum credit score than Prosper
  • Similar APR to Prosper
  • Rates factor in education and career
  • Potentially high origination fee
  • Also only offers two loan terms
  • Only considers individual income
Loan Amount$1,000 to $50,000
APR5.6% to 35.99%
Interest Rate TypeFixed
Min. Credit Score300
Turnaround Time1 to 3 business days
Maximum Loan Term5 years
Minimum Loan Term3 years

Alternative for people fair credit

Upgrade personal loans

4 / 5

Upgrade is an online lender that focuses on cash flow instead of your personal credit score, making it a good option if you have few debt payments and monthly bills. While you can qualify with a credit score as low as 600, you need to have at least $1,000 in income after bills each month. Rates start slightly lower than Prosper, ranging from 7.46% to 35.97% APR. But it also charges a higher origination fee, which runs from and only has the option of three- and five-year loan terms.

  • Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia
  • Considers cash flow over credit score
  • Accepts fair credit
  • Accepts coapplicants
  • Requires $1,000 in monthly cash flow
  • Only offers two loan terms
  • Higher origination fee than Prosper
Loan Amount$1,000 to $50,000
APR7.46% to 35.97%
Interest Rate TypeFixed
Min. Credit Score600
Turnaround Time1 to 4 business days
Maximum Loan Term7 years
Minimum Loan Term2 years

Alternative if you’re self-employed

Avant personal loans

3.45 / 5

Unlike many other lenders, Avant accepts self-employment income, and also less-than-perfect credit. To qualify, you need a credit score of at least 580, whereas most other lenders require upwards of 600 to 670 minimum. While Avant is more flexible with credit scores and employment history, it has high rates between 9.95% to 35.99% — so if you have a higher credit score, you may be able to find lower rates elsewhere.

  • Not available in: Colorado, Hawaii, Iowa, Nevada, New York, Vermont, West Virginia
  • Accepts self-employment
  • Low credit score requirement
  • Soft credit pull for preapproval
  • BBB accredited and A+ rating
  • High volume of BBB complaints
  • High rates
  • Max loan amount of $35,000
Loan Amount$2,000 to $35,000
APR9.95% to 35.99%
Interest Rate TypeFixed
Min. Credit Score580
Turnaround TimeAs soon as the next business day
Maximum Loan Term5 years
Minimum Loan Term1 year

How does Prosper compare?

Here’s an overview of the benefits and drawbacks of a Prosper personal loan. For more details on how this P2P platform works, read our full Prosper review.


  • Low origination fees compared to other P2P platforms
  • Low origination fee for P2P platform 2.4% to 5%
  • Accepts fair credit scores of 640


  • Loans capped at $40,000
  • Only offers two loan terms
  • More expensive than a loan from a direct lender
  • Doesn’t accept all fair credit borrowers

Visit our guide to the best personal loans to see how other top providers compare.

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