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Where does Upstart do business?
Upstart is a marketplace lender based in San Carlos, CA. Founded in 2012, Upstart offers access to personal loans in 49 states (and Washington, DC).
What are the APRs offered via Upstart?
Upstart has a variable APR that ranges from 6% up to 29.99%.
Does Upstart charge an origination fee?
Yes, Upstart charges a loan origination fee of 0% to 8% of the loan amount. Upstart deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does Upstart charge a late fee?
Yes, Upstart may charge borrowers a late payment fee of up to $15
Does Upstart charge prepayment fees?
No, Upstart does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow via Upstart?
Loan amounts start at $1,000 and go up to $50,000.
What is the maximum loan term you can get with Upstart?
Upstart offers personal loans with terms ranging from 36 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Upstart?
Applicants with a credit score of at least 620 can apply for a loan via Upstart . The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
To qualify for a Upstart loan, applicants need a minimum annual income of $12,000 or higher. Upstart only considers borrowers who are employed and meet the minimum income requirement.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via Upstart. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Applicants must have an active and valid checking account
- Proof of citizenship or residence permit
- Recent pay stubs
- Proof of income
What is the estimated funding time for a personal loan via Upstart?
Upstart will typically approve (or deny) a loan application within 24 hours and fund personal loans within 7 business days of approval.
Does Upstart report loan payments to credit bureaus?
Upstart may report credit data to the following credit reporting agencies:
2 Circle Star Way
San Carlos, CA 94070 USA
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Other Services by Upstart
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- Active Duty Military
- Military Dependent
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Only Individual Applications
- Proof of Income
- Recent Pay Stubs
- Driver License (or other photo ID)
- Proof of citizenship/residence (Green Card)