Prosper Partners with BBVA on New HELOC Product

Prosper Marketplace, a leading marketplace lending platform, has launched a Home Equity Line of Credit (HELOC) product in partnership with BBVA.

According to a blog post, the HELOC is currently available in Texas, Florida, Arizona and Alabama.

Prosper said the two companies are bringing together the strengths in Fintech and digital banking to improve the experience for homeowners.

BBVA expects to soon offer the HELOC to a selected group of its own customers via a BBVA branded version of the platform.

David Kimball, CEO of Prosper Marketplace, said they are thrilled to partner with BBVA:

“Working closely with BBVA, we’re excited to be able to offer our customers the opportunity to quickly and easily apply for a HELOC online, which can be a smart and affordable financing option for things like home improvement and debt consolidation. We look forward to expanding this product offering to more states and continuously improving the experience.”

Çağri Süzer, BBVA USA Head of Retail Banking, described the HELOC as “reflective of the type of transformation we think will carry us into the future.”

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