Prosper is an online peer-to-peer (p2p) lending platform that offers loans to individuals at a fairly low-interest rate. Established in 2006, Prosper became the first firm to enter the p2p lending market. It provides loans to individuals with average to excellent credit score. Any individual with a minimum of 640 credit score is considered eligible for a Prosper loan.

How Does Prosper Work?

It must be usual for people to wonder, how Prosper manages to lend money at an interest rate far lower than the industry. The answer is simple. Unlike banks & other financial institution, Prosper doesn't have branches, operating online helps Prosper saves on the expenses other financial institutes have to bear. These savings help provide relief to their customers as low interest rates.

When an individual applies for a loan on Prosper’s website, they request necessary information of the applicant after which Prosper makes a soft credit check of the borrower’s credit history. This soft credit inquiry doesn’t affect the credit score as it doesn’t reflect on the public credit report. This soft credit check helps Prosper determines whether the individual is eligible for a Prosper loan. Once the applicant has succeeded in the soft credit check, Prosper makes a hard credit check to confirm his eligibility for the loan. This hard credit check reflects on the credit report for the next two years. Get detailed information on hard and soft credit check here. When the applicant’s credit history seems satisfactory, he/she is provided an eligibility confirmation for a Prosper Loan.

On completion of credit check, the applicant receives a confirmation noting the loan has been processed and that the amount will be transferred in 1-4 business days (to eligible applicants). The applicant gets the amount in their provided bank account within the said duration.

What are the charges of Prosper?

Please note that the amount received will not be equivalent to the loan amount applied for, as an origination fee ranging from 2.4% to 5% will be deducted from the amount borrowed. An origination fee is a fee charged by Prosper to process the loan. The origination fee rate depends on the applicant’s credit score, individuals with the excellent score being charged 2.4% while an average scorer would be charged 5%. The better the credit score one has, the lesser the origination fee he has to pay. If you are in need of a particular amount, be sure to calculate the origination fee in advance and add it to the borrowing amount to get the desired amount. For example, if you are in need of $2,000 be sure to request a loan of $2105, as 5% of $2105 is $105, which will give an amount of $2000 after the deduction of origination fee.

How to Apply for a Prosper Loan?

Prosper loan applications are quick and easy. The entire process is done online on Prosper’s official website. Follow the below mentioned steps to apply for a Prosper Loan:

• Log in to Prosper’s official website.
• Prosper requests some of your personal information - name, address, date of birth, monthly housing expenses and loan requirements as a part of the loan application.
• Once you have filled these details, you will be asked to create a password for your account with Prosper.
• Prosper will run a soft inquiry of your credit report & provide you with a confirmation of whether or not you are considered eligible for a loan on the next screen. Here, it will display the rate of interest you will be charged for the loan. Along with the rate of interest, it will show the ARP. ARP or Annual Percentage Rate is more important than the interest rate as it is a sum of origination fee and interest rate.
• Prosper offers you a fixed payback term of 3 or 5 years, which will be shown along with their respective interest rate. It will also display the maximum amount you can borrow from Prosper, i.e., if you want to borrow a bigger amount than what you initially applied for, you can make the changes here.
• Once you have selected the amount and the payback term, you will be taken to the next screen, where, additional details about the applicant is requested.

Details requested would be:

• Personal Phone Number
• Employment Details
• Social Security Number

Since sensitive information like Social Security Number is requested on their site, Prosper has secured their website with encryption to process information securely.

• Once you have filled in the additional personal details, the next screen would display all the loan terms, i.e., ARP, Origination Fees, Loan Amount, Total Payments, etc. Make sure you read everything carefully to be well informed of the loan terms before borrowing from Prosper.

• Once you have accepted terms of the loan, you can complete your application with Prosper by doing the following:
  • Add Bank Account Details: There are two ways to provide your bank account details to prosper, the first and the quickest way to do this, is to provide your bank account login and password to prosper so that they can verify your bank details the fastest. If you are not comfortable sharing your bank login, you could opt for the second way, i.e., provide your bank account number and routing number, which Prosper will use to verify with your bank by depositing a small amount, usually less than 10¢. This second method is a long process and might take some time for the verification to be completed.
  • Upload / Fax Additional Documents: Prosper might want you to upload few supporting documents like a bank statement or tax document in PDF format or fax it to them. These documents are used to verify your information before processing the loan.

Once you have completed the above mentioned steps, Prosper will display a confirmation stating -

[caption id="attachment_16661" align="aligncenter" width="623"] In Image: Prosper confirms application receipt. It also mentions that they are reviewing your application and will send you an email regarding your application in an hour.[/caption]

• After this, Prosper runs a hard inquiry that will remain on your public credit report for at least two years.

Benefits of Prosper Loans

Prosper is not only the quickest and easiest way to apply for a loan, but also have additional benefits:

• Individuals with a credit score as low as 640 are considered eligible for a Prosper Loan. This low score consideration is a great relief to people with a poor credit history.
• Prosper loan is processed in as low as one day in some cases. Their quick process helps in easy access to money during emergencies.
• Due to Prosper’s soft credit checks, there will be no effect on the credit report if you are only looking to check your interest rates.
• Prosper loans are lent on a fixed interest rate, irrespective of market changes or payment delays, Prosper loans’ interest rate stays unchanged throughout the repayment term.
• Prosper offers one of the lowest interest rates in the market. This low rate helps save on the extra interest you might have to pay with other personal loans.
• No extra fees or penalty is charged in case of early closure or payment of the extra amount.

Drawbacks of Prosper Loans

Although there don’t seem to be many drawbacks of Prosper loans, we have mentioned below a few things that might be inconvenient for some:

• Prosper’s hard credit inquiry might have a slight impact on your credit report for about six months, lowering your score faintly.
• If you are looking to borrow an amount that is anything lesser than $2000 or greater than $40000, Prosper might not be of great help as they have a borrowing scale of $2000-$40000.
• If you are looking for a long payback term to lower your monthly EMIs, Prosper might not be the right choice for you, as Prosper offers a maximum payback term of 5 years.
• If your loan goes unfunded for 14 days, you might have to reapply, which means a longer wait time.
• Prosper’s origination fee might be of major concern for some people as it could go up to 5% of the loan amount.
• Although a loan term of 60 months / 5 years is available with Prosper, the interest rates for five years repayment term is higher than that of 3 years. This might discourage most of the applicants from opting a 60 months term.
• Prosper is unavailable in a few states, namely, Maine, Iowa, and North Dakota. Making it impossible for the residents of these states to borrow via Prosper.
• If your credit score is anything below 640, you might not be able to borrow via Prosper Loans. In such cases, you might have to consider loans for poor credit score.
• If you do not have a job or a stable income, your loan might not be approved.
• Only individuals can apply for Prosper Loans. If you are looking to co-borrow a loan, you might have to look elsewhere as Prosper doesn't support co-borrowing.

The best situation will be not to have to borrow money or take any loan, in case you must, Prosper Loans are a good choice with low-interest rates and easy repayment options.

   

Purchasing a cooktop requires a significant amount of investment. Therefore you must be careful while shopping so that you pick the right one. Before getting this kitchen appliance ensure that you peruse through various cooktop reviews. While checking the cooktop reviews ensure that they also talk about the following mentioned points.

• If you are planning to bring a gas cooktop home, make sure that there are enough ventilation outlets in the kitchen. You can opt for either of the two options namely a downward system which has ducts and vents below from where the gas cooktop sucks air and the hood system which is the traditional mode of driving smoke out of the kitchen.
• Get a cabinet designed according to the design of the cooktop to accommodate the structural aspects. Also, ensure that the appliance is installed at home by a professional especially in the case of gas cooktops. Certain latest cooktops do not fit into the traditional gas pipelines or electric wiring systems, and therefore, slight modifications might become necessary.
• Buying the appliance itself does not put an end to the costs associated with it. The latest cooktops bring with them other additional costs such as plumbing, etc. Therefore, you should be prepared to shell more money apart from the basic price of the cooktop. However, ensure that you compare cooktop prices before making a final purchase.
• Electric cooktops are preferred highly by customers as compared to gasoline-powered cooktops since gas cooktops require additional efforts. Before investing in a gas cooktop, keep that in mind that might cause cleanliness issues
• The latest cooktops boast of the latest range of features to suit all sized kitchens as well as cooking requirements. While electric cooktops work best for homeowners who do not wish to experiment much with food, gas cooktops are an absolute delight for chefs and culinary experts since they encompass massive heating capacity and also come in unique designs.

Buy the latest cooktop that not only provides a great cooking experience but also gels well with the design of your kitchen. Brands have released different versions of gas cooktops that support varying gasoline combinations such as natural gas or liquefied petroleum gas. Latest cooktops are a fusion of electricity as well as gasoline. While gas powers them, the ignition of the appliance takes place using electricity. Similarly, you will also find a variety of cooktop sizes such as 30-inch, 36-inch, 45-inch-60-inch, etc. to fit different types of kitchens. Also, check if the cooktop you are planning to buy has safety features such as light heat indicator. It may cost a bit higher but is worth your money. 

A personal loan is truly the loan for any reason. From consolidating your debt to redecorating your home, taking a vacation, there are many reasons for which one might apply for a personal loan. A personal loan allows the borrower to borrow a certain amount of money without requiring any collateral, and pay it back through monthly installments. The lender's requirement for offering a personal loan is very simple. Most financial institutions ask for: Social security number Current employer information Previous employer information Gross income Purpose of the loan Co-applicant information, if applicable Apart from traditional lenders, major credit card companies also offer personal loans. To avail this, you must be a pre-approved card holder. Your creditworthiness and other factors are taken into consideration to decide the APR and loan amount. Even though this process seems simpler and easy, not all customers might be pre-approved to procure a higher loan amount or a low APR. Major card companies offering personal loans also allow you to set up automatic payments, thus simplifying the monthly payment process. It is imperative to have a good FICO score for being eligible for a personal loan from a traditional bank. Some borrowers perceive applying for a loan from a big nationalized bank as a hassle because of their many rules and paperwork. This leaves them with the option of applying to a credit union or a local back. Credit unions are usually smaller in size as compared to a nationalized bank and thus the attention a borrower gets is more personalized. It is recommended to open an account with a credit union and do some transactions with them for a continued period of time, thereby building a credit history. In the future, if the situation demands you seek a personal loan, your relationship with the credit union comes handy. Availing a personal line of credit can be another option to securing a personal loan. A personal line of credit gives you a maximum amount of money that you can use over a period of time, and you can borrow against that amount as and when a financial need arises. The repayments are made only for the amount of money borrowed, not the entire amount of line of credit. Good credit is a prerequisite. Lines of credit tend to have higher interest rates and smaller minimum payment amounts. They have an immediate and larger impact on the borrower's credit score. An easy personal loan helps you lead your life to the fullest.

Diabetes and pre-diabetes are two most pressing health problems in the world. According to the reports of the American Diabetes Association or ADA, a person who is diagnosed with diabetes at the age of 50 is at a risk of dying 6 years earlier than a person without diabetes. Also, the vast majority of people who are diagnosed with diabetes have type 2 diabetes. Researchers have also emphasized that besides taking the right medication in the proper dosage, lifestyle changes such as exercising regularly, dietary changes, weight loss and healthy food choices must be followed for receiving desired outcomes. Importance of medications in reducing the blood sugar levels Besides making the needful changes, it is also important to take the new and improved drugs which can lead to the desired outcomes for patients. According to the reports of Lancelet Diabetes and Endocrinology, the huge majority of people suffering from Type 2 diabetes are living healthier lives due to administering of better medications. High blood sugar levels can also hike the risk of serious complications including impairment of kidney, vision loss, infections which are not easily treatable, peripheral nerve damage, heart ailments, and impotence. Significant medications in the treatment of diabetes In response to the spread of diabetes at a fast pace, the U.S. Food and Drug Administration has approved new drugs for effective treatment of the epidemic. And this includes Farxiga Invokana diabetes treatments. Invokana Invokana or canagliflozin is a new class of Type 2 diabetes drugs approved by the FDA in March 2013. It is a type of Sodium-glucose co-transporter 2-inhibitor, which prevents the re-absorption of glucose or blood sugar by the kidney. It also improves the glucose excretion through urine. This is an oral diabetes treatment which helps in improving blood sugar control when exercised in conjunction with diet and workout in patients with severe Type 2 diabetes. In clinical trials constituting Invokana, a steady improvement of hemoglobin A1C and fasting blood sugar levels has been found in over 10,000 patients. Like all other medicines, invokana may have some side effects which include vomiting, nausea, pain in the abdominal area, tiredness and breathing problems. Farxiga Back in January 2014, the U.S. Food and Drug Administration had approved Farxiga tablets for those who wished to improve their glycemic control alongside dieting and workout, for adults suffering from Type 2 diabetes. The effectiveness of this particular medicine was shown in 16 clinical tests which involved 9,400 patients. This drug can be administered alone or with other medicines meant for reducing the levels of Type 2 diabetes. But this medicine also has some possible side effects, most common of which is urinary tract infections, genital yeast infections along with changes in the frequency of urination. These farxiga invokana diabetes treatments are presently considered as cutting-edge advancement in the management of diabetes. And your doctor might prescribe these for an effective cure as per your condition.

Some of the most common terms that you come across when searching for apartments are – Section 8 housing, low-income apartments, affordable housing, etc. While we have heard of these terms frequently, there is more to the meaning of affordable housing. Moreover, one has to meet some qualification parameters to get a low-income apartment. The primary term that one has to be aware of on their low-income housing search is AMI or Area Median Income. It is a measurement that determines the amount of rent that you can afford for an apartment. It is based on the location you live in and other local parameters. The HUD sends out an annual AMI determination report for each region in all counties. Once the median income is determined, all households that earn below 80% of the listed amount are considered as low-income households. Those families with less than 50% of that amount fall under the very low-income category, and those earning less than 30% fall under the extremely low-income category. Out of your whole income, your rent amount should not be more than 30% of it. Let's say the average income is around $80,000 in your area, and you make only $35000 annually; in such a case, you would qualify for low-income apartment rental schemes that will help you and ensure that your rental costs are covered within 30% of your income. However, there are more qualification parameters that one needs to consider. The income cannot be too low or too high above the line. Only people whose income is within the stated parameters will qualify for these schemes. One common fear for those who seek out low-income apartments is to how these affordable housing structures look like and what condition are they in. Every developer receives perks in the form of low-income housing tax credits that can help them save on their taxes by setting aside a small percentage of housing units exclusively for low-income families. The developers are required to ensure that the rent stays within the affordable limit at all times, failing which they will lose their tax credits. Some exclusive public housing structures only have low-income apartments for rent. A simple way to hunt down these types of houses is to inquire with the management offices of the different housing developers in your area. They are sure to provide you with the required help.

Getting your dose of entertainment does not always have to be expensive. A number of cable services offer their services at an affordable rate and include a number of popular channels as well. Opting for cheap cable TV services does not mean that the consumers need to compromise on the features they are getting. With due diligence, one can choose the best and cheapest cable TV services. Here are some tips to help you choose the best one for you without burning a hole in your pocket. Number of channels When looking at cable TV service plans, opt for the one that has all the channels you need and hardly any that you don’t watch. If the service provider offers you the option of ordering channels on an à la carte basis, then you may want to go with that. However, remember that more channels will cost you more money, so only buy the channels you need. Costs When looking at the costs, do not just include the price per channel but also the additional costs. There are costs of installation and for hardware like DVR that needs to be included. While assessing a particular brand or plan, consider the total to be inclusive of all the costs. Features and equipment When shopping around for cheap cable TV services, find out about any extra equipment that you may have to get. For example, some brands offer their services over the Internet. So if you do not have an Internet connection, you may want to get that and even include the costs for the same in your budget. The other thing is to compare the features of the DVR that each of these budget cable TV service providers offer. These differ in price based on features like the storage capacity, recording capacity etc. When it comes to the cheapest TV service, DISH is a winner. In the category of no contract cable TV services, the best plan you can get from is Sling TV. In the category of cheap and best sports channels category, DIRECTV is hands down the best option you could get. When shopping around for a cheap cable TV service, ensure that you find out about the costs and if they change after the first year. Assess your television watching needs also to zero in on the best plan.