Guides / Lender matchup
Prosper vs Happen Bank: Personal Loan Rates, Terms and Fees (2026)
Short answer: Happen Bank, formerly LendingClub Bank, starts lower at 5.96% APR, lends up to $60,000 over up to 84 months, and can pay up to 12 creditors directly. Prosper lends $2,000 to $50,000 over 24 to 72 months. Happen Bank's origination fee tops out at 8%, Prosper's at 9.99%.
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| Prosper | Happen Bank | |
|---|---|---|
| APR | 8.99% to 35.99% | 5.96% to 35.99% |
| Loan amounts | $2,000 to $50,000 | $1,000 to $60,000 |
| Terms | 24 to 72 months | 24 to 84 months |
| Origination fee | 1% to 9.99% | 0% to 8% |
| Funding time | As soon as 1 business day | As soon as 24 hours after approval |
| Minimum credit score | Not published | Not published |
| Late fee | Greater of $15 or 5% of the payment | Greater of $15 or 5% of the amount due, after 15 days |
| Availability | Not available in Iowa or West Virginia | All 50 states and D.C. |
Choose Prosper if
- You want terms up to 6 years with a $2,000 minimum
- Happen Bank doesn't make you an offer
- You prefer a lender with no rebrand in progress
Choose Happen Bank if
- You're consolidating several debts and want the lender to pay them directly
- You need more than $50,000
- You want a lower maximum origination fee
Can I check both at once?
Yes. One CLO application with a soft pull can return offers from both lenders, along with others in our network. Compare the full cost in our comparison tool before you choose.
Checking your rate uses a soft credit pull. Accepting an offer and finishing a lender's application may lead to a hard inquiry.
Prosper vs Happen Bank: common questions
Is Happen Bank the same as LendingClub?
Yes. LendingClub Bank renamed itself Happen Bank in June 2026. Its personal loans continue under the new name.
Which has lower fees?
Happen Bank's origination fee runs 0% to 8%. Prosper's runs 1% to 9.99%. Your fee depends on your credit.
Can I apply with someone else?
Both allow a co-borrower or joint application. Neither allows a co-signer.