Prosper FAQs

A Home Equity Line of Credit (HELOC) is a line of credit you can access for a variety of things: debt consolidation, home improvements, major purchases (appliances, cars, RVs, boats, etc.), and many other expenses.

It works much like a credit card. But, becauseits secured by your house,you may be able to accessmore moneyatlower interest ratesthan with a credit card or personal loan.

HELOCsalsogive you flexibility in your monthly payments. You can even make interest-only payments during the draw period (up to thefirst 10 years of your HELOC).

During the repayment period, you can no longer draw on your line, and you must start paying back any outstanding balance plus interest. Your repayment period may last up to 15 years.

Please note that paying the minimum monthly amount may not fully repay the outstanding principal on your HELOC. Once the repayment period ends, any unpaid balance, interest, and fees must be paid in one final balloon payment.

HELOCs typically involve a time-consuming application and verification processincluding a hard credit pull that impacts your credit score just to see your offer.

Weve streamlined and securely digitized thatprocess, empowering you to get a HELOC in only a few weeks! Better yet, you can see your instant, personalized offer without affecting your creditscore.

You can use your HELOC for a variety of things including home improvements, debt consolidation, major purchases (appliances, cars, RVs, boats, etc.), and even miscellaneous expenses.

Home equity is calculated by subtracting the amount of money you still owe on your house from the total value of your home. For example, if your home is valued at $300,000 and you owe $200,000 on your mortgage, your current equity is $100,000.

Most lenders will require you to have 10-20% of your home value remaining after you get your HELOC. So, in this example (depending on your creditworthiness and debt-to-income ratio) you could qualify for a HELOC of $40,000 with 20% of your home value remaining.

$100,000 (current equity) - $40,000 (HELOC amount) = $60,000 (20% of property value).

Your APR will depend on a number of factors, including your credit history. The Variable APR includes only interest and does not reflect closing costs or other fees that may apply. This APRcan change over time and is based on The Wall Street Journal US Prime Rate plus a margin as identified in your credit agreement.

A HELOC through Prosper has a variable rate, meaning the interest you pay could increase or decrease. Changes to this rate are calculated by adding the margin identified in your credit agreement to the current prime rate ( https://www.wsj.com/market-data/bonds ).

During the draw period, you can make interest-only monthly payments with a minimum payment of $75. Paying more than the interest you owe will enable you to borrow additional money during the draw period. If you prefer a fixed rate option, during your draw period you can choose to lock in your rate up to threetimes.

During the repayment period you'll pay down what you owe by making a monthly payment calculated using the interest rate in effect at the start of your repayment period. When rates decrease, less interest is due, so more of your monthly payment repays the principal balance. When rates increase, more interest is due, so less of your monthly payment repays the principal balance. In this case, you may needto make a single balloon payment to cover your unpaid balance in full at the end of your repayment period. For Texas HELOCS,different rules apply: if the interest rate increases during your repayment period, then your monthly payment will also increase in order to repay your balance by the end of the repayment period.

Ifyou'vereceived both a Personal Loan and a HELOC offer, your estimated maximum line of credit isbased on your requested personal loan amount.

Otherwise, thecreditlimitormaximum line amount on your HELOC is based on the amount of equity you have in your home, your creditworthiness, yourdebt-to-income ratio, and other factors.

A mortgage won't deter your eligibility to apply for a HELOC,provided thatyouve had your mortgage for at least 1-2 years and have built up enough equity in your home to borrow against.

Yes, you can apply for a HELOC on our platform if you have an FHA loan.

Your maximum line amount is based on the amount of equity you have in your home, your creditworthiness, your debt-to-income ratio, and other factors. Typically, HELOCs have a20-25 yearterm with two distinct phases: 1) the initial draw period which can last upto10 years,and 2) the repayment period which can last 10-15 years.

TERM: HELOCs usually have a20-25 yearterm, which is the total duration of your draw period + your repayment period.

DRAW PERIOD: Duringthe drawperiod, you can use up to your maximum line amount, and you may also make interest-only payments, which can result in a lower monthly payment. Your draw period maylast up to 10 years. Please note that paying the minimum monthly amount may not fully repay the outstanding principal on your HELOC. Once the repayment period ends, any unpaid balance, interest, and fees must be paid in one final balloon payment.

REPAYMENT PERIOD: During the repayment period, you can no longer draw on your line, and you must start paying back any outstanding balance plus interest. Your repayment period may last up to 15 years.

HELOCs usually have a20-25 yearterm, which is the total duration of your draw period plus your repayment period.

During the draw period, you can use up to your maximum line amount, and you may also make interest-only payments, which can result in a lower monthly payment. Your draw period maylast up to 10 years. Please note that paying the minimum monthly amount may not fully repay the outstanding principal on your HELOC. Once the repayment period ends, any unpaid balance, interest, and fees must be paid in one final balloon payment.

Yes, you can pay off a HELOC early. However, there are concerns to be aware of. There are two payment periods in a HELOC agreement: the draw period and the repayment period. The draw period is set by your lender and usually lasts about10 years.This is the time frame in which you are actively borrowing. Typically, you are only required to pay off the interest on your HELOC during the draw period.

You can always pay off your entire outstanding balance at any time- however,keep in mind that if you pay off the full amount within the first two years, you may have to repay any bank-paid closing costs (not applicable in Texas).

Payments are calculated based on the outstanding line balance each month. And, you can always pay off your outstanding balance at any time(however,keep in mind that if you pay off the full amount within the first two years, you may have to repay any bank-paid closing costs (not applicable in Texas).

HELOCs are lines of credit, and monthly payment amounts are not usually fixed. During the draw period (up to 10 years), you will be required to make monthly payments of accrued interest, plus any principal balance in excess of your credit limit, with a minimum payment of $75.00. Please note that if you only pay accrued interest during the draw period, your monthly payment during the repayment period may increase substantially. During the repayment period, your minimum monthly payment will be an amount necessary to repay the outstanding balance over the repayment period, based on the APR in effect at the start of this period. If rates increase after the repayment period begins, your monthly payment will increase so that the balance is fully repaid at maturity.

The repayment period is the time during which you must repay any outstanding principal and interest on your HELOC. The length of your repayment period will depend on your outstanding HELOC balance at the start of the repayment period. If your outstanding balance is less than $20,000, the repayment period will be 10 years. If your outstanding balance is $20,000 or greater, the repayment period will be 15 years.

You can make your monthly payments a variety of ways: by enrolling in AutoPay, by signing into your account online, by contacting Customer Service, or by mailing a check.

Do keep in mind that if you have a joint loan, you can only make payments with the bank account thatyou'veadded within your individual online Prosper account.

In other words, you cannot use your co-borrowers bank account to make payments unless youre an authorized user on the bank account and have added it to your own online Prosper account.

Here are more details about the different ways you can make your payments:

AutoPay (recommended)

AutoPay is a service that automatically schedules and deducts your monthly payment from your bank account on your due date. AutoPay is the preferred option for our borrowers because it offers convenience and reliability; it is the easiest way to avoid late payment fees and make monthly payments on time. If youd like to turn AutoPay on or off, you can switch at least 3 business days prior to your due date. You can enroll in AutoPay during the application process, by visiting your account online, or by giving us a call. If you want to activate AutoPay, but would prefer a different payment date, see if you can change your due date.

Pay online

You can make additional payments online by signing in to your account and authorizing a one-time payment from a bank account thatyou'veadded to your Prosper account. If you use the online payment method to manually make your monthly loan payment, it is your responsibility to make all payments on time. Payments received before 5:30pm PT will process same-day.

Call Us

One of our Customer Support specialists can schedule a payment for you giving us a call during our business hours. Be sure to have your bank account information ready if you want to use a new bank account. If you call us to manually make your monthly loan payment, it is your responsibility to make all payments on time. Payments received before 5:30pm PT will process same-day.

Pay by check

You can pay by check, but this option is not recommended.Check payments are applied on the date the check is received and not on the date the check is placed in the mail. This can lead to late fees if the check is not received in a timely manner.

If you select pay by check during the application process, your first payment will still be automatically deducted from your bank account.

If your loan originated on or after August 1st, 2017, and you make your payment by check, you will incur a payment processing charge which you must add to your payment amount. This fee is the lesser of 5% of your payment or $5 (if your payment is greater than $100, you should always add $5).

For all check payments, include the loan ID in the memo section of the check (required). If the check is coming from a third party, please also include the name of the loan holder in the memo.

If you need to pay by check, here's what to do:

Write the check out to Prosper Funding, LLC in the amount youd like to pay (include any fees) and send it to the following address:

Prosper Marketplace Inc. P.O. Box 396081 San Francisco, CA 94139-6081

If youre using an expedited mailing service that needs a signature when its delivered, send it to this address instead: Prosper Marketplace, LLC. Dept. #36081 3440 Walnut Ave, Bldg. A, Window H Fremont, CA 94538

Send only loan payments to the above addresses. Do not send correspondence.

If you are trying to pay off your loan balance, sign in to your Prosper account, select the Pay off loan link and choose the date youd like to pay your loan off. The Payoff amount button will display the balance on your loan on the selected date.

Pleasedon'thesitate to reach out to customer service with any additional questions you may have about payments.

If you have any co-applicant or co-borrower related questions, please contact us at 866-615-6319.

As disclosed in the Prospectus, Prosper is obligated to use commercially reasonable efforts to service Borrower Loans. Proper has sole discretion to determine when and whether to refer loans to a collection agency, initiate legal action against delinquent borrowers, or sell loans to a third party debt buyer. As a result, if your investment portfolio contains any delinquent loans, it is possible that some of those loans have been sold to debt buyers while others have not.

You can pay by check, but this option is not recommended.Check payments are applied on the date the check is received and not on the date the check is placed in the mail. This can lead to late fees if the check is not received in a timely manner.

If you select pay by check during the application process your first payment will still be automatically deducted from your bank account. If your loan originated on or after August 1st, 2017, and you make your payment by check, you will incur a payment processing charge which you must add to your payment amount. This fee is the lesser of 5% of your payment or $5 (if your payment is greater than $100, you should always add $5).

If you need to submit a check by mail, here's what to do:

Make a check out to Prosper Funding, LLC in the amount of the payment you wish to make and send it to the appropriate address below:

If using Standard MailProsper Marketplace Inc.P.O. Box 396081San Francisco, CA 94139-6081

If using an Expedited Mail ServiceProsper Marketplace, LLC. Dept. #360813440 Walnut Ave, Bldg. A, Window HFremont, CA 94538

For all payments, include the loan ID in the memo section of the check (required). If the check is coming from a third party, please also include the name of the loan holder in the memo.

Send only loan payments, for example, a check, to the above address. Do not send correspondence.

If you are trying to pay off your loan balance, sign in to your Prosper account, select the Pay off loan link and choose the date youd like to pay your loan off. The Payoff amount button will display the balance on your loan on the selected date.Due to mail transit times, quite a few days can pass between the time the check is placed in the mail and when it is received and applied to your account. For any questions you can contact customer service.

If your loan becomes more than 120 days past due, your loan will be considered charged-off unless you are otherwise notified by Prosper. This does not mean your loan has been excused or forgiven. You are still obligated to make payments. When a loan is charged off, the entire balance is accelerated, meaning it is collectible in full as of the charge-off date.

Interest continues to accrue on the principal balance as usual. There are no changes to the interest rate or the way interest is accrued. Late fees are no longer assessed after charge-off.

If your loan is charged off, you will not be able to borrow through Prosper again, and your credit score may be negatively impacted.

A Verification Stage is a three-stage indicator of the progress on the loan, based on the status of verification of the borrowers identity, information and documentation. The further along in verification, the higher the Verification Stage rating and the more likely the loan will originate if it receives sufficient investor funding commitments.

You can transfer money to Prosper from the bank account you connected to your Prosper account when you opened your investor account. These funds will be added to your Prosper account cash balance. In addition, when a payment comes in for one of your Notes, that payment is added to your Prosper account cash balance.

By following this link, you can transfer funds now.

If you are experiencing this issue, it means you are signed in to your existing Prosper account. Please sign out, and then complete the application again.

No, a taxable account cannot be converted to a retirement account. You may withdraw your available cash in order to fund your new Prosper IRA account.

You can only cancel a funds transfer which has not yet been processed. If a transfer is marked as Scheduled, you can still cancel the transfer.

Select History from your Prosper account menu. Click on Bank Account Transfers, and then clickCancelnext to the transfer that you want to cancel. Change transfers now.

We may alter the terms or make principal reductions on some borrower loans, which may include cases where a reduction in the initial interest rate is required by law. Where a borrower obtains a loan while not on active military duty and later enters active military duty, the Servicemembers Civil Relief Act (SCRA) permits that borrower to request a reduction in their interest rate to 6% while that borrower serves active military duty.

We subtract a servicing fee from every borrower loan payment received. The amount of the servicing fee with respect to a particular payment is calculated by (1) multiplying the applicable annual servicing fee rate by a fraction, the numerator of which is equal to the number of days since the borrower's last payment (or, in the case of the borrowers first payment, since the date on which the relevant borrower loan was funded) and the denominator of which is 365, and (2) multiplying the product obtained by the outstanding principal balance of the borrower loan prior to applying the current payment. The annual servicing fee rate is currently set at 1.0% per annum of the outstanding principal balance.

In the event that a borrower loan becomes past due, Prosper may assign a professional collection agency to collect the overdue amount. Each collection agency has its own fee structure, but will only collect a fee for their services if funds are recovered.

In the event that a borrower loan becomes past due, Prosper may collect on the loan directly or refer it to a third-party servicer or a collection agency. Our in-house collections department and any third-party servicer or collection agency will be compensated by keeping a portion of the payments collected based on a predetermined fee schedule. No fee will be collected if funds are not recovered.

Once you accept the terms of the loan there is no editing available. Your original loan request will need to be canceled prior to origination and a new, updated loan request re-submitted.

Customers with active loans can add a secondary bank account. This is useful for customers who want a secondary bank to use for making payments. To set up a secondary bank account, please call our customer service line at 1 (866) 615-6319.

Please send an email to [email protected]. Our application specialists will be happy to assist you.

There is no fee to sign up to be an investor on Prospers marketplace.

Investors pay an annual loan servicing fee, currently set at 1% per annum of the outstanding principal balance of the corresponding borrower loan prior to applying the borrowers current payment. The loan servicing fee accrues daily, the same way that regular interest accrues on the corresponding borrower loan. It is calculated by multiplying (a)the outstanding principal of the loan prior to applying the current payment, by (b) the annual loan servicing fee divided by 365, and then multiplied by the number of days since the borrowers last payment.

In the event that a borrower loan becomes past due, Prosper may collect on the loan directly or refer it to a third-party servicer or a collection agency. Our in-house collections department and any third-party servicer or collection agency will be compensated by keeping a portion of the payments collected based on a predetermined fee schedule. No fee will be collected if funds are not recovered.

Yes, you can schedule recurring transfers on a weekly or monthly basis, or you can schedule a single transfer for a specific day of the month.

A borrower loan is charged-off when it reaches 121 days past due unless the borrower is otherwise notified by Prosper. This means the borrower has missed at least the last five monthly payments. When a borrower loan is charged-off:

The borrowers entire loan balance is accelerated, meaning it is collectible in full as of the charge-off date.

From the borrowers perspective, interest continues to accrue on the principal balance just as it did before the charge-off. There are no changes to the interest rate or the way interest is accrued. Late fees are no longer charged.

From the investors perspective, the loans principal balance is labeled the 'charge-off balance.'

Charge-offs will remain in collections until some action is taken to end the loan. Possible loan-ending activities include payment in full, discharged bankruptcy, and sale to a debt buyer. Prosper can also end a loan with 'no value', meaning all efforts to collect on the loan, including debt sale, have been exhausted and the loan is deemed to have no value.

Payments made by the borrower post-charge-off are considered 'recoveries', and pay down the loans balance, but the loan stays charged-off. Depending on whether the loan is in collections with Prosper or an outside charge-off collection agency, recoveries may be subject to collection fees. Once charged-off, the borrower no longer has the opportunity to bring the loan current, only to pay it in full.

If the borrower is more than 15 days late on a borrower loan, the borrower will be charged a late fee. The late fee is divided up pro-rata among the investors in the corresponding notes, subject to deductions for collection fees and servicing fees. If the borrower loan is more than one day past due, we may collect on it directly or we may refer it to a third party servicer or to a collection agency. Borrower loans that become more than 120 days overdue will be charged-off unless Prosper notifies the borrower otherwise. Charge-offs are eligible for sale to a debt buyer. A borrower whose loan has charged-off will never be able to borrow again from Prosper, and since we report delinquencies to credit reporting agencies, the charge-off will adversely affect their credit report.

Under no circumstances should you attempt collection on a late payment yourself. You should not contact delinquent borrowers directly. Prosper has a detailed delinquency schedule for borrowers, and any additional contact you have with a borrower may expose you to civil or criminal penalties for unlicensed debt collection. Prosper suspends investors who engage in this sort of activity.

Prosper is currently available only to investors who reside in the following states:

Alaska CaliforniaColorado Connecticut Delaware District of Columbia FloridaGeorgiaHawaiiIdahoIllinoisIndianaLouisianaMaineMichiganMinnesotaMississippiMissouriMontanaNevadaNew HampshireNew YorkOregonRhode IslandSouth CarolinaSouth DakotaUtahVirginiaWashingtonWisconsinWyoming

The Prosper platform is not available to investors residing outside the United States of America.

Sure! You can change your monthly due date in most situations. Reach out to us at 866-615-6319 and we can discuss your options.

You can find our customer support hours on the Contact Us page.

You provide some basic information in an easy online application or over the phone, and based on the information received, Prosper will provide pre-approved loan options to eligible applicants.

Apply now

Individual investors must be United States residents who are 18 years of age or older, with a valid Social Security number and checking or savings account. Institutional investors who wish to purchase notes on the fractional marketplace must be based in the United States with a valid Taxpayer Identification Number. It may be possible for institutional investors from outside the US to purchase whole loans. Please contact [email protected] for more information.

Individual investors may also be required to meet suitability requirements established by their state of residence.

Individual investors who are residents of Alaska, Idaho, Missouri, Nevada, New Hampshire, Oregon, Virginia or Washington must meet one or more of the following suitability requirements: (1) have an annual gross income of at least $80,000 and a net worth (exclusive of home, home furnishings, and automobiles) of at least $80,000 or (2) have a net worth (determined with the same exclusions) of at least $280,000. In addition, no investor located in these states may purchase Notes in an amount in excess of 10% of the investors determined net worth, exclusive of home, home furnishings, and automobiles.

Individual investors who are residents of California must meet one or more of the following requirements: (1) have had an annual gross income of at least $85,000 during the last tax year and have (based on a good faith belief) an annual gross income of at least $85,000 for the current tax year; (2) have a net worth of at least $200,000 (or $300,000 together with the investors spouse); or (3) purchase $2,500 or less in Notes. In each case, the total amount of Notes purchased by an investor who is a resident of California cannot exceed 10% of the investors net worth.

For individual investors who are residents of Maine, Missouri, or Oregon, the Maine Office of Securities recommends, and each of the Office of the Missouri Secretary of State, Securities Division and the Oregon Division of Finance and Corporate Securities requires, as applicable, that an investor's aggregate investment in this offering and similar offerings by Prosper and Prosper's affiliates not exceed 10% of the investor's liquid net worth. For this purpose, "liquid net worth" is defined as that portion of net worth that consists of cash, cash equivalents and readily marketable securities.

For purposes of these suitability requirements, an investor and his or her spouse are considered to be a single person. In addition, the following definitions apply:

Annual gross income means the total amount of money you earn each year, before deducting any amounts for taxes, insurance, retirement contributions, or any other payment or expenses.

Net worth means the total value of all your assets, minus the total value of all your liabilities. The value of an asset is equal to the price at which you could reasonably expect to sell it. In calculating net worth, an investor should only include assets that are liquid, meaning assets that consist of cash or something that could be quickly and easily converted into cash, such as a publicly-traded stock. An investor shouldnt include any illiquid assets, such as homes, home furnishings, or cars.

Net investmentmeans the principal amount of Notes purchased, minus principal payments received on the Notes.

Please refer to the Prospectus for additional information.

Yes, please contact us at [email protected].

Prosper has several data sources for investors to analyze historical loan performance on the platform. Any user with a valid Prosper Account is able to set up an API username and password to access and download loan performance and credit attribute data at the loan level.

Investors who wish to analyze loan performance on a monthtomonth basis can receive the Loan Level Monthly file upon request after signing a Data License Agreement. This file requires a largetext viewing format and advanced statistical analysis software to download and open. Please contact us at [email protected] to request the data license agreement.

Pre-payment Fee

There is never a fee for making prepayments or paying your loan off early

Origination Fee

The Origination Fee (also called a Pre-paid Finance Charge) is a one-time, non-refundable fee to process your loan that is automatically deducted from your loan proceeds before your money is transferred to you.This means that the amount of money that you receive will be the amount you requested minus the Origination Fee.If you need a specific amount of money to pay off a credit card balance or to make a purchase, make sure you ask for enough to cover both the specific amount you need and the Origination Fee

The amount you will be charged for the Origination Fee is calculated as a percentage of the amount you borrow (2.4%-5%, depending on Prosper Rating). Your APR (Annual Percentage Rate) already includes the Origination Fee

Check Fee

If your loan originated on or after August 1st, 2017, you will incur a check processing charge, which you must add to your payment amount when you make your monthly payment by check. This fee is the lesser of 5% of your payment or $5 (if your payment is greater than $100, you should always add $5). If you don't include the extra amount for the check processing charge with your payment it will not be delinquent, but you will pay down that much less of principal on your loan for that month, which may result in greater accrued interest over the term of your loan and a higher final payment. Check payments are applied on the date the check is received and not on the date the check is placed in the mail. This can lead to late fees if the check is not received in a timely manner

Late Fee

Your account will be considered delinquent if you do not pay the full amount of your monthly payment on or before your due date. If you have not paid the full amount of your monthly payment within fifteen (15) calendar days after your due date, you will be charged a late fee of $15.00 or 5% of the unpaid monthly payment amount, whichever is greater. You will only be charged one late fee per late payment.

If you are charged a late fee and make your regular monthly payment afterwards, you will be current on your loan, but you will have paid off less principal for that month. This may result in greater accrued interest over the term of your loan, and a higher final payment

Insufficient Funds Fee

If you attempt to make a payment and it fails because there are insufficient funds in your account or because your account cannot be accessed, you will be charged a fee of $15 for each returned or failed payment. If you are charged an insufficient funds fee and successfully make your full monthly payment afterwards, you will be current on your loan, but you will have paid off less principal for that month. This may result in greater accrued interest over the term of your loan, and a higher final payment.

Please note: if you fail to successfully make your full monthly payment within 15 calendar days after your due date you may also incur a late fee.

Please refer to your Borrower Registration Agreement and Promissory Note (stored in your online account) for more details about fees

It's easy to change the bank account for your loan payments.Just go to your Settings page (you can find the link in the menu below your name), and click Add an Account.

Enter your bank information to add your account. You can also choose to turn on AutoPay from your new bank account at this time.

If you don't see the Add an Account link on your Settings page, give Prosper Customer Support a call and an agent will be happy to help you out!

How do you Calculate Historical Returns?

Historical Returns are based on actual payments (other than principal) received by the investor net of fees and losses (including from charged-off loans). To be included in the Historical Return calculation, the loan must have originated (a) on or after July 1, 2009, and (b) at least 12 months prior to the calculation date.1

We calculate the Historical Return for loans originated through Prosper as follows. First, loans are separated into distinct Groups based on the specific month and year in which they were originated and their Prosper Rating or mix of Prosper Ratings (as applicable) at origination.

For each Group, we calculate: (a) the sum of the Interest Paid, plus Late Fees, minus Servicing Fees, minus Collection Fees, in each case on active loans2, plus Net Recoveries on charged-off or defaulted loans, plus Net Debt Sale Proceeds on sold loans, minus Gross Principal Losses; divided by (b) the sum of the Principal Balances Outstanding on active loans2 at the end of each day since origination.1 We then annualize the result to get the Historical Return for the Group.*

The Historical Return for any Group can be expressed with the following formula, where i is time in daily increments starting from the first day of the applicable origination month (i=1) until the last day of the most recently completed month (i=N).

Release Notes

Historical Return for the Platform*

Once the above calculation is performed for every Group, we compute the cumulative-outstanding-principal-dollar-weighted average of their Historical Returns. This gives us the weighted average Historical Return for loans originated through Prosper. 1

Historical Return Range for Range for Single or Multiple Prosper Ratings*

Once the above calculation is performed for every Group, we compute the 10th and 90th cumulative-outstanding-principal-dollar-weighted percentiles of the Historical Returns of the Groups within each Prosper Rating or mix of Prosper Ratings (as applicable) to get the Historical Return Range of the relevant Prosper Rating or mix of Prosper Ratings. 1

1 The Historical Return calculation excludes the impact of servicing related corrective non-cash adjustments that may modify the outstanding balance or status of a borrower loan.

2 For purposes of the Historical Returns calculation, active means loans that are current in payments or delinquent less than 120 days; loans that have paid off, charged-off or are in default are not considered active.

* Historical Return data presented on the website is updated monthly. Historical performance is no guarantee of future results. This information is not intended to be investment advice or a guarantee about the performance of any Note. The actual return on any Note depends on the prepayment and delinquency pattern of the loan underlying each Note, which is highly uncertain. Individual results may vary.

How does this change what I see on the Prosper website and in my account?

As of 5 pm (PT) on August 8, 2018, estimated return information is no longer shown on prosper.com. Instead, historical ranges for each Prosper loan rating are shown. In addition, all loan listings show this new historical return range information.

How can I select the returns I want to search for?

Simply select the Prosper rating with historical return information that corresponds with the return that comes the closest to what you are looking for.

I have a recurring investment filter set up to automatically invest in loans based on estimated returns and estimated losses. Do I need to do anything? Will my filter continue to invest in loans?

If you have a recurring investment order that uses either estimated return or estimated loss filters, you will need to remove the filters and update your order. These filters will be disabled on the evening of August 1, 2018, and no new Recurring Invest orders will be processed which use these filters.

To ensure your recurring investment order continues without interruption, please remove the estimated return or estimated loss filters from your order before August 1, 2018.

To remove filters and update your recurring investment order:

Sign in to your Prosper investment account.

From your investments page, click Browse Listings.

Select your active recurring investment from your Filter set

Delete filters by clicking the X next to each filter you want to delete.

Click Update Settings, and youre done.

If you have any saved filter sets with estimated return or estimated loss filters selected, please remember to update them, as well.

I use the Prosper Investor APIs. Has anything changed in the APIs?

Yes, the estimated_return, estimated_loss_rate, and effective_yield elements will be removed from all listings that are created after August 8, 2018.

The listings API and the orders API will be modified to support the historical return data, which may impact your use of these APIs. To learn about the specific updates being made to Investor APIs, visit the Prosper for Developers page.

Thank you for choosing Prosper again. There is a minimum waiting period of nine complete months before you can apply for another loan. In addition, any outstanding loan through Prosper will be included as part of your $40,000 total loan limit.

Other requirements to be aware of when considering an additional loan through Prosper:

Your active loan must be current and in good standing.

No late payments can be on record within the last 60 days for any active loans.

You must not have a payment that was more than 15 days late on an active loan within the last year.

No more than 2 returned loan payments can be on record within the last 3 years.

A minimum number of nine complete months must have passed since your last loan was originated.

If you have more than one loan, each loan may have a different payment due date. Your loan payments cannot be combined.

Please note, meeting all of the requirements listed above does not guarantee that you will be approved for your additional loan request.

There are no upfront fees for applying for a loan through Prosper. A one-time fee is charged if your loan is funded and money is transferred to you.

This fee is called the Origination Fee and is a percentage of the amount borrowed (2.4%-5%, depending on Prosper Rating). It is taken from the loan immediately, before loan proceeds are transferred to your account. This means that if you apply for a loan and need an amount to purchase something specific or pay off a balance on a credit card, make sure you ask for enough to cover both the expense and the fee.

AutoPay is a service that automatically schedules and deducts your monthly payment from your bank account on your due date. Most borrowers who receive a loan through Prosper choose AutoPay because its the easiest way to always make monthly payments on time.

You can select AutoPay during the loan application. You can also turn AutoPay on at any time in your online account, or by contacting customer service. Please navigate to Prospers Contact Us page to find the relevant contact information and hours of operation.

A borrower must be a U.S. resident in a state where loans through Prosper are available, and must have the following:

a bank account

a Social Security number

Depending on qualifications, approved borrowers can request unsecured loans from $2,000 to $40,000.

Prosper offers access to fixed rate unsecured loans from $2,000 to $40,000, with loan terms of three and five years*.