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Personal Loans


Surety Bank has partnered with Prosper to offer access to fixed, low-rate personal loans to fit your financial needs. Consolidate debt, make home improvements, or take a dream vacation with a personal loan through Prosper.

BORROW FROM $2,000-$35,000

Fixed rates that never go up.
Rates from 5.99% to 36.00% APR*

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No commitment required–your real rates are shown upfront in less than 2 minutes, without affecting your credit score.

What is Prosper?

Prosper is America’s first peer-to-peer lending marketplace, and is a market lender with over 2 million members and $5 billion in funded loans

We provide a transparent and low-cost alternative to traditional loans – Prosper connects people who need money with investors…so everyone prospers!

Prosper is headquartered in San Francisco, CA, and was founded in 2006.

How does the application and funding process through Prosper work?

Borrowers come to the Prosper website, fill out their application, choose a loan amount, and loan purpose. They then receive an eligibility decision and offer based on that information. Borrowers who receive and accept an offer will then generate a “listing” – which is a request for a loan. Some borrowers may be subject to additional verification of their application information.

Once the listing is active on Prosper, investors will be able to view and invest in the listing. The listing will stay active until it is fully funded or the 14-day listing period ends. If the listing is not fully funded within the 14-day period, no loan will be made.

Once a listing is fully funded, it then becomes a loan, and borrowers will make fixed monthly payments and investors will receive a portion of those payments directly to their Prosper account until the end of the loan.

What are the loan amounts and terms available?

Prosper provides access to fixed rate, unsecured loans from $2,000 to $35,000 with loan terms of 3 and 5 years. Loan APRs range from 5.99% to 36.00%, depending on loan amount and creditworthiness.*

These loans are offered with no penalty for paying early or making partial pre-payments.

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"Prosper helped me purchase my first motorcycle, a restore of the 1978 Honda. Soon enough, it will shine once more.” — Joseph C.

“We decided to convert our garage into a living space. We came to Prosper and were quickly approved and received our funds. Construction is underway!” — Kelli T.

How does a borrower apply for a loan?
Creating a loan listing on Prosper is easy and only takes a few minutes. We simply require the following to complete an application:
• First and last name;
• Complete home address;
• Employment status;
• Individual yearly income;
• Date of Birth;
• Email address;
• Social security number; and
• A bank account

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Who is eligible for a loan through Prosper?
A new Prosper borrower must at a minimum be / have:
• A U.S. citizen and/or legal resident over the age of 18;
• A credit score of at least 640;
• No bankruptcies within the last 12 months

What is the verification process?
Some borrowers may be required to submit additional documentation or proof of income such as a W-2 or 1099 in order for Prosper to verify their income and eligibility.

How soon do borrowers receive their money?
Loan proceeds should be available 1-3 business days after a borrower’s listing is verified and funded.

Are there any fees?
Yes. Borrowers pay an “origination fee” which is a percentage of the amount borrowed, and varies by creditworthiness. The origination fee is typically between 1% and 5% of the loan amount, and is assessed before the loan is funded into a borrower’s bank account. If borrowers make any payments with paper checks, manual check fees may apply.

Prosper also charges special circumstance fee of $15 for failed automatic monthly payments, and returned checks. Only one of these fees will be charged per monthly payment period. If a monthly payment is late, the borrower may be charged a late fee.

How do the monthly borrower payments work?

Prosper will make monthly automatic withdrawals via ACH from the borrower’s bank account in the amount of the agreed-upon monthly loan payment or, if the borrower elects, the borrower can make manual payments each month, either by check or one-time ACH transfers.

Can a borrower pay extra on a monthly loan payment?

If the borrower chooses, they may make an optional additional loan payment or pay off their loan early without penalty or fee.

Can borrower’s change their payment due date?

No. Unfortunately, it is not possible to change a payment due date at this time.

Is Prosper a bank?

Prosper is not a bank. All loans are funded by WebBank, which is an FDIC-Insured, Utah chartered Industrial Bank.

Does Prosper require any collateral for loans?

All loans through Prosper are unsecured- which means collateral is not required. Our customers do not need to put up their home or car to get a loan. Their credit history is the basis for qualification.

Does checking a rate affect a borrower’s credit score?

No it does not. After entering their basic application information to determine loan eligibility, Prosper conducts a “soft” credit pull to generate an initial offer, which does not affect a borrower’s credit score.

After receiving an offer, if a borrower at that point chooses to accept it and post a loan, at that point, Prosper would conduct a hard credit pull, which could potentially affect a borrower’s credit score.

*Annual percentage rates range from 5.99% to 36%. Rate offered is based on credit score and history, income and other factors. For example, a 60 month loan of $10,000 with an APR of 9.68% will require 60 monthly payments of $201. Eligibility is not guaranteed and requires that a sufficient number of investors commit funds to your loan. Refer to borrower’s registration agreement for full terms and conditions. All loans made by WebBank, a Utah-chartered industrial bank, member FDIC.

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