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What are the minimum criteria to borrow on Prosper?

After a borrower submits a loan application, Prosper first obtains a credit report from TransUnion to evaluate whether the applicant meets the underwriting criteria Prosper has established in conjunction with WebBank. As of December 23, 2016, applicants are subject to the following minimum eligibility criteria:

  • Minimum FICO credit score of 640 (TransUnion FICO 08 score)
  • Debt‐to‐income ratio below 50%
  • Stated income greater than $0
  • No bankruptcies filed within the last 12 months
  • Fewer than seven credit bureau inquiries within the last 6 months
  • Minimum of three open trades reported on their credit report

Repeat borrowers must meet several additional criteria:

  • No previous loans on the Prosper platform which have been charged‐off
  • Must not have been declined for a loan through Prosper within the last four months due to delinquency or returned payments on a previous loan through Prosper
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