Working Of Loan

There is a credit card issued by Prosper Funding LLC that you can apply to. If you have been wondering if the Prosper credit card is the right card for you, read on. This review will give you all the details you need to make a good choice.


Prosper offers unsecured personal loans through WebBank (FDIC Member). In order to get an unsecure personal loan, you will not be required to put down any collateral like a house or car in order to get it. A personal loan can be used for a variety of purposes, depending on what you are trying to accomplish.

You can get a loan for three or five years. Most Prosper Credit Card loans are approved within a day, and depending on the bank, it can take one to three business days for the money to arrive in your bank account.

However, in order for you to get your money, a Prosper investor must choose to finance your loan. Prosper is a peer-to-peer lending company that brings together borrowers and investors.

On the company’s website, investors generally agree to offer funds before the approval process is complete (in three days or less). But they have up to two weeks to invest in their loans. If your loan is not funded by at least 70% after 14 days, the company will reject your application.

A Prosper loan allows you to pay various types of fees, including processing fees, pay-by-check fees, late payment fees, and insufficient funds fees. However, you do not have to pay a prepayment penalty if you prepay your loan.

Our customer service is available from Monday to Friday from 9 am to 5 pm. continuously until 8:00 pm Eastern Standard Time and Saturdays from 9:00 am to 5:00 pm continuously until 5:30 pm Eastern Standard Time. If you would like to send another form of communication besides a letter or an email, you can also send a paper letter.