Prosper vs LendingClub: Comparing Personal Loan Options

Side-by-Side Comparison

A Name Change to Know About

As of October 2026, lendingclub.com redirects to happen.com, where the loan page is titled "Happen Bank, formerly LendingClub." Trade coverage from April 2026 reported that the rename would not change existing products or services. We keep the LendingClub name here because many borrowers still search for it.

How Prosper and LendingClub Differ

Both started as online marketplaces and now serve borrowers through partner-bank or bank structures. On paper, LendingClub (Happen Bank) casts a wider net: a $1,000 to $75,000 range, 24 to 84 month terms and a 5.96% starting APR, with a fee that can be as low as 0%. Prosper lends $2,000 to $50,000 over two to six years, with an 8.99% starting APR and a fee of 1% to 9.99%.

The headline floors apply to the strongest applicants. Prosper publishes the average APR on funded 3-year loans, which was 24.19% for loans funded in the first quarter of 2026, and Happen Bank's representative example is an 18.40% APR on a 36-month loan with a 6% fee. Your own offer will determine what you pay.

Who Each May Fit

Prosper may be worth comparing if you want to apply with a co-applicant, since both of you share full responsibility, and you are comfortable with the lender stating a 640 minimum credit score. Funding depends on investor commitments, so timing can vary.

LendingClub (Happen Bank) may be worth comparing if you need a larger amount, a longer term or an origination fee that may be low. Confirm co-borrower, direct-pay and funding details with the lender, because third-party sources disagree. Neither lender guarantees approval.