Unsecured Personal Loans

Taking in mind that there is no possibility of obtaining a "free" federal grant for personal use, what are some viable alternatives? Maybe you need to consolidate your debts, make repairs your home, finance a new business idea, or simply get by until the next paycheck. One such alternative available to the general public is an unsecured personal loan from Prosper.

What is an Unsecured Personal Loan?

An unsecured personal loan is a way to borrow money without putting up collateral such as a home, car, or investments. Instead of offering collateral in the case that you default, this type of loan is supported only by your creditworthiness. If you have bad credit, this type of loan will be tougher to get and will be offered at a higher interest rate.

Top 10 Ways to Use Unsecured Personal Loan Money

1. Pay bills that are due, such as rent, utilities, and health care.
2. Consolidate your debt by paying it off with a lower interest rate loan.
3. Repair or remodel your house or apartment.
4. Pay for everyday expenses such as food and clothing.
5. Finance a profitable small business venture.
6. Buy the equipment needed to expand an existing business.
7. Save money in the long run with energy-efficent upgrades to your home.
8. Get the funds needed for a new car, boat, motorcycle, or RV.
9. Afford to pay for your dream wedding or other event.
10. Splurge on that vacation, new TV, or other pricey purchase.

What is Prosper?

Prosper is the leading provider of unsecured personal loans. Prosper will present your loan to investors who wish to get a better return on their money than with a bank or investing account. These investors bid on your loan and those who offer the lowest rate win. This method cuts out the middleman (banks) which results in low rates for borrowers.

How to Apply

Visit Prosper and first select the loan amount you desire, how you will use your new personal loan, and current credit rating. If you do not know your exact credit rating, just provide your best estimation. The next step will ask for your contact info and details such as your birthdate, employment status, and email address. Choose a password and security question for your account and Prosper will figure out the rate on your loan. Post your loan listing, which includes info about you and how you will use the money, and you are on your way at getting the funds you need! Click here to start your application.