Terms of Service — Prosper loan Marketplace Platform Agreement
Effective Date: January 1, 2025 | Last Updated: June 1, 2025 | Applies to: Prosper Loan
By accessing or using Prosper Loan, you agree to be bound by these Terms of Service ("Terms"). If you do not agree, please do not use this platform.
TILA Representative Rate Disclosure (Truth in Lending Act)
Annual Percentage Rates (APRs) available through our marketplace range from 6.99% to 35.99%. Loan amounts range from $2,000 to $50,000. Origination fees range from 1% to 5% of the principal amount. Repayment terms range from 24 to 60 months. All rates and terms are subject to individual creditworthiness and lender underwriting. Not all applicants will qualify. Representative example: A $10,000 personal loan at 14.99% APR for 36 months with a 2% origination fee results in a monthly payment of approximately $347 and a total repayment of $12,492.
1. Prosper loan Platform Description & Marketplace Disclaimer
ProsperLoansApp.com is an independent digital marketplace and matching service — NOT a bank, direct lender, depository institution, or credit union. We do not originate loans, make credit decisions, or fund borrower accounts. We connect consumers with third-party P2P lending platform partners who may make loan offers subject to their own terms and underwriting.
We are not affiliated with Prosper Marketplace, Inc. (NMLS #111473). Reference to "Prosper loan" on this platform refers to loan products available through the broader P2P marketplace ecosystem, not exclusively to Prosper Marketplace, Inc. products.
2. Eligibility to Use This Platform
- You must be a US citizen or permanent resident aged 18 or older (19 in Alabama, 21 in Mississippi)
- You must have a valid Social Security Number or ITIN
- You must provide accurate and complete information in all applications
- You must not use this platform for any unlawful purpose or in violation of any applicable regulation
3. Loan Application Process
By submitting a pre-qualification form, you authorize us to share your information with our marketplace lending partners for the purpose of generating loan offers. You authorize these partners to perform soft credit inquiries during pre-qualification. A hard credit inquiry may occur when you formally accept a lender's offer. We cannot guarantee that any lender will extend an offer or that any offer will meet your specific requirements.
4. User Obligations
- Provide accurate and truthful information in all loan applications
- Not submit applications on behalf of another person without their explicit authorization
- Not use automated tools, bots, or scripts to interact with the platform
- Report any suspected fraud or unauthorized use of your information immediately
5. Compensation Disclosure (FTC Compliance)
ProsperLoansApp.com receives compensation from lending partners when a consumer submits an application and/or receives funding through a partner lender. This compensation model may influence which products are featured but does not affect our obligation to disclose representative APRs accurately. We do not accept payment for editorial placement or to manipulate rate rankings.
6. Limitation of Liability
To the fullest extent permitted by applicable law, ProsperLoansApp.com and its officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of this platform, including but not limited to: loss of money, good will, data, or other intangible losses; loan denial or unavailability of offers; actions or omissions of third-party lending partners.
Our total aggregate liability for any claim related to your use of the platform shall not exceed $100 USD or the amount you paid to us in the preceding 12 months, whichever is greater.
7. Intellectual Property
All content on this platform — including text, graphics, logos, data, and software — is the property of ProsperLoansApp.com or its content suppliers and is protected by US and international copyright and trademark law. You may not reproduce, distribute, or create derivative works without prior written consent.
8. Privacy
Your use of this platform is also governed by our Privacy Policy, which is incorporated herein by reference.
9. Governing Law & Dispute Resolution
These Terms are governed by the laws of the State of Delaware, without regard to conflict of law principles. Any dispute arising from these Terms shall first be attempted to be resolved through good-faith negotiation. If unresolved within 30 days, disputes shall be submitted to binding arbitration under the American Arbitration Association's Consumer Arbitration Rules, conducted in English in Delaware.
Class action waiver: You agree to resolve disputes individually. You waive any right to participate in class action lawsuits or class-wide arbitration.
10. Changes to Terms
We reserve the right to modify these Terms at any time. Material changes will be communicated via prominent notice on our homepage with at least 14 days' prior notice. Continued use after the effective date constitutes acceptance.
11. Contact
Legal notices: [email protected] | Contact form
These Terms were reviewed by legal counsel and last updated June 2025. They are subject to change in accordance with Section 10.