ca3b0d7d_g_Beyond_The_Bank___NerdWallet__4
[0] Prosper [1] Yes — loans are made by WebBank, then financed by investor pool (retail and institutional). [2] Borrower pays a closing fee if their loan is funded. The closing fee is a percentage of the loan amount, varying by Prosper Rating. Investors pay an annual servicer fee, which is currently equal to 1% of the outstanding principal balance of the corresponding borrower loan. [3] Borrower and lender [5] Prosper loans are set up for monthly payments to be automatically deducted from a bank account on file. Prosper also sends an email reminder to the borrower one week before the scheduled payment is due. [6] Yes [7] Unsecured [8] Markets non-traditional loans, like adoption loans, engagement ring financing and loans for sustainable home improvement. [4] 
If a borrower loan request is funded, a credit inquiry will be posted to the borrower’s credit report
P2P Lending: Borrowing Beyond The Bank - NerdWallet
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