Upstart and Prosper are two of the most accessible personal loan lenders for borrowers with fair or poor credit. Both accept lower credit scores than traditional banks, both offer loan amounts up to $50,000, and both allow you to check your rate without a hard credit pull. The key differences are in minimum credit score, funding speed, and how they evaluate your application.
WiseIQ Verdict
Winner: Upstart for most borrowers; Prosper for peer-to-peer flexibility
Upstart wins on minimum credit score (300 vs 560), funding speed (1 day vs 3–5 days), and starting APR (7.80% vs 8.99%). Prosper's peer-to-peer model can occasionally offer better rates for mid-range credit scores, but Upstart is the stronger choice for most borrowers.
| Feature |  Upstart |  Prosper |
|---|---|---|
| Minimum Credit Score | 300 | 560 |
| APR Range | 7.80%–35.99% | 8.99%–35.99% |
| Loan Amount | $1,000–$50,000 | $2,000–$50,000 |
| Loan Terms | 36 or 60 months | 24, 36, 48, or 60 months |
| Origination Fee | 0%–12% | 1%–9.99% |
| Funding Speed | 1 business day | 3–5 business days |
| Prepayment Penalty | None | None |
| Joint Applications | No | No |
| Lending Model | AI-powered direct lender | Peer-to-peer marketplace |
Related Articles & Guides
Upstart — 300+ Credit Score Accepted
Prosper — Peer-to-Peer Lending Since 2005
Frequently Asked Questions
Is Upstart or Prosper better for bad credit?
Does Upstart or Prosper have lower rates?
Does Prosper charge an origination fee?
How fast does Upstart fund loans vs Prosper?
Which lender is better for debt consolidation?
Sources & Methodology
WiseIQ's editorial team researches and fact-checks all content using primary sources. Our recommendations are based on independent analysis and are not influenced by advertiser relationships.
- Consumer Financial Protection Bureau (CFPB)
- Federal Reserve — Consumer Credit Report (G.19)
- myFICO Credit Education
- Issuer and lender websites — rates, terms, and eligibility verified directly from source
Last reviewed: April 3, 2026 | How we rank products