PROSPER MARKETPLACE, INC: debt financing — Prosper Marketplace secures $75M senior unsecured term loan, repays $68M prior facility

PROSPER MARKETPLACE, INC

Borrowed $75M under new Credit Agreement with Platform Loan Holdings LLC; matures Nov 14, 2030.
Interest rate: Daily Simple SOFR (floor 1.50%) + 7.00%; no scheduled amortization.
Proceeds used to repay ~$68M outstanding prior term loan; prior credit agreement terminated.
Covenants: min tangible net worth, min liquidity, max debt/tangible net worth ratio.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PROSPER MARKETPLACE, INC incurred term loan of $75 million with Platform Loan Holdings LLC at Daily Simple SOFR (subject to a floor of 1.50%), plus 7.00% maturing November 14, 2030.

Instrument: term loan
Principal: $75 million
Counterparty: Platform Loan Holdings LLC
Rate: Daily Simple SOFR (subject to a floor of 1.50%), plus 7.00%
Maturity: November 14, 2030
Event: incurrence

Exact text from the filing

On November 14, 2025, Prosper Marketplace, Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”) with the Company, as borrower and Platform Loan Holdings LLC, as lender, pursuant to which the Company borrowed $75 million of senior unsecured term loans (the “Loans”). The Loans bear interest at an amount payable in cash equal to the Daily Simple SOFR (subject to a floor of 1.50%), plus 7.00%. The Loans are scheduled to mature on November 14, 2030, and are not subject to amortization.

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Source: SEC EDGAR

accession 0001552781-25-000425

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