SuperMoney

Upstart

Claimed

in Personal Loans

SuperMoney Net Recommendation Score -67% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly not recommended

4 users recommend
2 users are unsure
24 users don't recommend
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Overview

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:

  • Equifax
  • Experian
  • Transunion

UPSTART Disclosure: This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Duplicate offers received as a result of multiple injuries by the same person are void. This offer may be accepted only by the person identified in this offer and legally able to enter into a contract for the extension of credit and a U.S. citizen or permanent resident and currently a resident in the US. You may be eligible for loan amounts from $1,000 to $50,000, subject to final loan approval. The minimum loan amount is $6,000 for borrowers in Ohio and $7,000 for borrowers in Massachusetts. APRs range from 6.00% - 29.99%. Not all applicants will qualify. Loan approval, APR and loan amount will be determined based on your credit, income and other information provided in the application. Closing your loan is contingent upon you meeting our eligibility requirements, our verification of your information and your agreement to all of the terms and conditions on the www.upstart.com website. If you accept your loan by 5 PM ET (except weekends and holidays) you will receive your funds the next business day. Education-related loans are subject to a mandatory 3 business day waiting period, following the applicant’s acceptance of the loan terms.
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Available in 49 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Late Fee Amount
$15
Origination Fee
0% - 8%
Minimum Age
18
Credit Score Range
620 - 850
850 300 620
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income
$12,000
Bank Account Required?
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Only Individual Applications
Verification Documents Required
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount
$1K - $50K
$100 $100K+
Loan Term (Months)
36 - 60
1 180
APR
6% - 29.99%
4% 100%+

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