Unsecured Personal Loans for Good Credit
Unsecured personal loans for good credit are one of the best solutions for a variety of borrowing purposes, including small business loans, debt consolidation loans, vehicle loans, home improvement loans, and for making major purchases.
Prosper offers unsecured personal loans online, with some of the most competitive interest rates, and terms available for creditworthy borrowers in today’s marketplace. Providing unsecured personal loans with no collateral ever required from individuals with good credit up to $35,000 with fixed monthly installments up to 5 years. The rate and term remains the same for the life of the loan. There are never any prepayment penalties if you decide to pay the loan off early.
Who can qualify for a good credit personal loan with Prosper?
- Must be at least 18 years old
- Be a US Citizen or Permanent Resident
- Need a valid bank account
- Credit score of at least 640 or higher
- Prosper loans are not available to borrowers in Iowa, Maine or North Dakota
A Great Way to Get a Personal Loan With Good Credit is Through a Network Called Peer-to-Peer Lending
Peer-to-Peer Lending is a program that was set up by a bank to allow creditworthy borrowers and willing investors as a way of meeting one another (without actually meeting) to achieve some common goals for both parties involved. Investors want to get a better rate of return on their money than is possible in today’s money marketplace. And the borrower wants a loan at a good rate and terms to fit their financial needs.
The way peer-to-peer lending works is like this. The borrower applies for a loan with a lending company such as Prosper. They rate your creditworthiness based on your credit score and other credit criteria and assign you a credit rating. Then you just post your loan request on the Prosper website along with the reason you want the loan. The many lenders (or investors) within the network can view your request, and decide if they would like to help in funding your loan. All peer to peer loans are funded as unsecured personal loans, good credit is all that is required to apply.
Applying for Unsecured Personal Loans For Good Credit Has Never Been Easier
Getting a personal loan with a great rate, and terms that would actually fit into your budget may have been somewhat difficult in the past. But, Prosper makes it easy to apply for a unsecured personal loan through their peer-to-peer lending program.