In 2023, the Consumer Financial Protection Bureau received 56 personal loan-related complaints about Prosper. Getting the loan and problems making payments were the most common complaints.

Companies like Prosper and LendingClub act as the middlemen between the two. The industry sprang up during the financial crisis and gave millions of consumers an alternative to high-cost credit ...

Jerry Brown is a personal finance writer based in Baton Rouge ... affect our editors' opinions or evaluations. LendingClub and Prosper are both peer-to-peer lenders that offer fixed-rate personal ...