Prosper Extends Credit to 200K Near-Prime Clients with FICO Scores

Prosper was founded in 2005 as the first peer-to-peer lending marketplace in the United States. Borrowers apply online for a fixed-rate, fixed-term loan between $2,000 and $50,000.

When Prosper was gearing up for the Prosper® Card launch to serve the near-prime population in December 2021, a tool was needed to mitigate credit risk. Watch this video to learn how Prosper used FICO® scores and FICO's historical US consumer performance bands to build a comprehensive unit economic model.