Prosper at a glance
- Population: 41,660 residents, the 85th-largest of 1,224 places in Texas (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 30,165 residents here (US Census Bureau).
- 2020 to 2023 change: about 38.1% more residents than the 2020 Census base (US Census Bureau).
- Rank among Texas places: the 85th-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 93% of Texas's places have fewer residents (US Census Bureau).
- Coordinates: 33.2413 latitude, -96.8124 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Celina, TX (6 mi); Frisco, TX (6 mi); Little Elm, TX (7 mi); McKinney, TX (9 mi); The Colony, TX (12 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Providence Village, TX (8 mi); Hackberry, TX (9 mi); Weston, TX (10 mi) — US Census Bureau populations.
What a personal loan costs in Prosper
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Texas lending rules that apply in Prosper
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 10% per year maximum; a greater rate is usurious unless otherwise provided by law (Tex. Fin. Code § 302.001) Source says: The maximum rate or amount of interest is 10 percent a year except as otherwise provided by law. | Texas Legislature (Texas Constitution and Statutes) as of 2026-09-16 |
| Payday lending status | Legal via licensed credit access businesses (payday/title-loan brokers); the third-party lender itself is not licensed (Tex. Fin. Code ch. 393) Source says: the credit access business that serves as the broker is the licensee in this regulated industry | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Small-loan / installment lender licensing | License required for non-depository lenders charging more than 10% interest; Chapter 342 governs consumer loans (Tex. Fin. Code § 342.051) Source says: Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| State lending regulator | Texas Office of Consumer Credit Commissioner (OCCC) Source says: The OCCC licenses and regulates non-depository lenders in the state of Texas. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
How to compare offers in Prosper
Here is a short checklist for comparing personal loans in Prosper:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.