Gino Rodriguez, Writer
@gino_rodriguez
You will know if Prosper approved you for a loan because you will receive an application decision via email. Prosper may approve you as early as one business day after you apply, or within 26 days, on average, depending on the type of loan. You can check your loan status online in the meantime.
You should receive the funds up to 11 days after approval, depending on the type of loan. Just keep in mind that approval for a Prosper loan is never guaranteed.
People also ask
Does Prosper verify income for personal loan applications?
Yes, Prosper will verify your income when you apply for a personal loan. If you do not have any income, you can apply for a Prosper personal loan with a co-signer, and Prosper will verify that person's income instead.
Prosper may verify income by requesting financial information like pay stubs, bank statements, or W-2 forms. In other cases, they'll just use credit report information. Either way, you will also have to meet other Prosper...
read full answer by Grace Enfield, Content WriterIs it difficult to get a Prosper personal loan?
It is fairly difficult to get a personal loan from Prosper because you need a credit score of 640 or higher to qualify. You also have to meet other Prosper personal loan requirements like being at least 18 years old, having an SSN, and having enough income to afford monthly loan payments.
Prosper Personal Loan Requirements
- Minimum Credit Score: 640
- Age: 18+ years old
- Residency: U.S. citizen or permanent...
Does Prosper do a hard inquiry?
Yes, Prosper does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Prosper's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit...
read full answer by Rick Bormin, Personal Loans ModeratorDid we answer your question?
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