You can pay by check, but this option is not recommended. Check payments are applied on the date the check is received and not on the date the check is placed in the mail. This can lead to late fees if the check is not received in a timely manner.
If you select pay by check during the application process your first payment will still be automatically deducted from your bank account. If your loan originated on or after August 1st, 2017, and you make your payment by check, you will incur a payment processing charge which you must add to your payment amount. This fee is the lesser of 5% of your payment or $5 (if your payment is greater than $100, you should always add $5).
If you need to submit a check by mail, here's what to do:
Make a check out to Prosper Funding, LLC in the amount of the payment you wish to make and send it to the following address:
Prosper Marketplace Inc.
P.O. Box 396081
San Francisco, CA 94139-6081
Do not send the check to Prosper’s physical mailing address.
For all payments, include the loan ID in the memo section of the check (required). If the check is coming from a third party, please also include the name of the loan holder in the memo.
If you are trying to pay off your loan balance, sign in to your Prosper account, select the “Pay off loan” link and choose the date you’d like to pay your loan off. The “Payoff amount” button will display the balance on your loan on the selected date. Due to mail transit times, quite a few days can pass between the time the check is placed in the mail and when it is received and applied to your account. For any questions you can contact customer service.