Best Peer-to-Peer Lenders of February 2024

Last Update: September 25, 2023 Loan Reviews Loans

Peer-to-peer (P2P) lenders source funds from investors and use the proceeds to issue loans, while traditional lenders rely on consumer deposits to provide financing. Therefore, P2P lenders are middlemen between you and the institution or individual providing the loan.

Most P2P lenders require a credit score of around 600. However, Upstart’s AI-driven algorithm approves borrowers with credit scores of at least 300. As a result, new technology has streamlined lenders’ underwriting practices, increasing your chances of obtaining a loan. Furthermore, the P2P lenders on our list provide upwards of $250,000., with max APRs of 35.99%.

However, if your credit score is exemplary, we reviewed more than 20 good credit personal lenders that may offer cheaper financing. Similarly, several options are available for borrowers with poor credit. We reviewed more than 20 bad credit personal lenders with 35.99% or less APRs, and some don’t charge loan origination fees.

Our marketplace also has many options for borrowers with very bad, bad, fair, good, and excellent credit. Moreover, applying does not require a commitment and won’t impact your credit score. Therefore, submitting multiple applications should increase your chances of landing the best deal.

Best Peer-to-Peer Lenders of February 2024

P2P lenders make it easier to obtain financing since outside investors fund loans. And companies like Prosper, LendingClub, and Upstart won’t worry about solvency. As a result, they can match investors’ risk tolerances with borrowers’ credit scores to create the perfect combination. You can see a quick overview of P2P lenders’ terms below. For more information, please read the reviews that follow.

Lender:Loan Amount:APR:Min. Credit Score:Type:Best For:
SuperMoney$600 – $100,0004.99% – 35.99%600Connects to peer-to-peer lendersComparing multiple offers
Upstart $1,000 – $50,0004.6% – 35.99%300Peer-to-peer lenderLow credit scores, high DTI ratios
PersonalLoans$1,000 – $35,0005.99% – 35.99%580Connects to peer-to-peer lendersShort and long-term personal loans
Prosper$2,000 – $40,0007.95% – 35.99%640Peer-to-peer lenderObtaining multiple personal loans
LendingClub$1,000 – $40,0007.04% – 35.89%600Peer-to-peer lenderFair credit scores, low DTI ratios
Peerform$4,000 – $25,0005.99% – 29.99%600Peer-to-peer lenderFair credit scores, low DTI ratios
Happy Money$5,000 – $40,0005.99% – 24.99%550Peer-to-peer lenderA stable credit history
LendingTree$1,000 – $50,0002.49% – 35.99%600Connects to peer-to-peer lendersObtaining a low APR


Loan Amount:$600 – $100,000
APR:4.99% – 35.99%
Min. Credit Score:600
Approval:1 – 7 Days
Terms:1 – 7 Years
  • Loan origination fee of 1% – 8%
  • Late payment fees vary by lender
  • Most lenders don’t charge prepayment fees
Qualification Criteria:
  • Be at least 18 years of age
  • Have a credit score of at least 600
  • Have a DTI ratio that doesn’t exceed 40%
  • Have recurring employment income or government benefits
  • Fill out your information through SuperMoney’s online portal
Average Borrower Profile:
  • SuperMoney connects borrowers with personalized financial product offers from banks and other lenders
  • If you have fair, good, or excellent credit, financing options are available
Best For:Comparing multiple offers
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