How can we help?

Popular Keyword Searches: Payment, Payoff, Documents, Credit, Application, Returns, Performance, Risk, Investing


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. Applicants are subject to the following minimum eligibility criteria:

  • Debt‐to‐income ratio below 50%
  • Stated income greater than $0
  • No bankruptcies filed within the last 12 months
  • Fewer than five 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
Was this article helpful?