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The main aspects of Prosper personal loans to take into account
Being a peer-to-peer marketplace, the platform is responsible only for servicing of borrowers and investors, but not for direct lending of funds. Due to that, the company offers different categories of advance payments to satisfy borrowers’ financial needs, such as:- Consolidation of debts.
- Home renovations.
- Business or start-ups needs.
- Special events.
- Medical services.
The most significant pros and cons of the services
While planning to get temporary financial assistance, the potential borrower is recommended to bear in mind the benefits and weak points of the company, he is going to cooperate with. Here are the key positive and negative aspects of Prosper loans. Pros:- variable options;
- flexible repayment terms;
- easy-to-use website;
- convenient mobile app;
- ability to invest money;
- no prepayment fees;
- fast turnaround time.
- charges for late payments;
- high income and credit score required;
- application fees.