Upstart Loans – Requirements And How to Apply

One of the reputable and well-known online lenders that enables you to apply for personal loans even with a bad credit score and get approved the next business day is Upstart. It offers a wide range of features, and its application process is fast and easy.

Upstart Loans - Requirements And How to Apply

Unlike other lenders, Upstart uses artificial intelligence and nontraditional data such as job history, residence, and college education. In addition, Upstart Loan is flexible, and there is no hard credit check. Meaning that you don’t need to worry about your credit score before applying or getting approved by the company.

According to research and reviews from past and current customers, Upstart provides you with a stress-free application process and is certainly a great choice for everyone. You can easily apply for loans with the company directly from their official website and get approved within minutes.

However, you will need to meet Upstart Personal Loan requirements to get approved and get access to funds. Some of these requirements will be later discussed in this article. It is worthwhile to note that Upstart Loans are suitable for people seeking personal loans with no co-signer. You can check out the next outline for an overview of the company.

Upstart Loan Reviews

Upstart is one of the best lenders that offer unsecured loans even if you do not have a good or excellent credit score. It was first founded in the year 2012 with the aim of enabling borrowers to get access to loans with a poor or bad credit score. Also, the company provides its technology to financial institutions such as banks and credit unions.

Borrowers can apply for a personal loan of $1,000 to $50,000 within a term length of about 36 to 60 months. However, this depends on your state, which means getting loans from this company varies from state to state. For instance, in Massachusetts, borrowers can apply for personal loans of $7,000, while in Ohio, you can apply for loans of about $6,000. This provides you with the opportunity to apply for loans based on your needs.

In addition, their payment option is flexible compared to their competitors, plus there are no prepayment penalties. The downside of using Upstart is the fact that you will need to pay an origination fee, a late fee, have no discounts, and lastly, have no co-signers. Its origination fee falls between the range of 0% to 8%, depending on your creditworthiness. 

While its late fee is $15, or 5% for each missed payment, nonetheless, you have the opportunity to use your personal loan for different purposes, such as paying off credit cards or student loans, education-related costs, medical bills, and home improvement projects, and much more.

Upstart Loan Requirements

Before applying for loans with, you will need to be aware of their requirements. In this section of the article, we will be discussing some of the requirements needed to successfully get a personal loan from the company. Some of the necessary requirements to qualify for an Upstart Loan include;

  • There is no minimum credit score or credit history required.
  • You must have at least a gross income of $12,000.
  • Details about the job, such as whether it is full-time or part-time.
  • You must have a U.S. residential address and must be 18 years of age or older.
  • Active email address and phone number.
  • Personal Bank Account.
  • Your Social Security Number.

With the above-listed requirements, you are ready to apply for loans with Upstart. It should be noted that you might be required to provide other information so as to get approved and access funds

Upstart Loan Application

The loan application process is easy and fast and can be done online by visiting the official website of the company. You don’t need to worry about your credit history or score, but you will need to check out your estimated interest rate to know your chances of approval. Here are the steps and guidelines to follow:

  • Visit the official website of Upstart using your device’s web browser.
  • On the official website, locate the application icon and click on it.
  • First, you will need to find out what rate you might receive by entering your personal information.
  • Enter your full name, correct address, social security number, and current income.
  •  Now, you will need to select your loan term. You can select a repayment term of 36 to 60 months.
  • You will immediately be provided with an initial rate. If you are suitable with the rate, tap on “accept” to submit your full application.

Lastly, Upstart might require you to submit additional documents, which might delay your application. However, once your loans have been approved, funds will be sent to your bank account the next business day after approval.

Upstart Login

If you have already applied for loans with Upstart, you can log in to your account via their official website to check out the status of your loan and payments. Here are the steps and guidelines you will need to follow:

  • Go to the official website of Upstart.
  • On the homepage, locate the Login icon and click on it.
  • Enter your Upstart username and password.
  • Tap on the Login icon to complete the process.

If your login details and credentials are correct, you will automatically be logged in to your Upstart Loan account where you will be able to view your account and loan status. For help and general inquiries, you can reach Upstart Loan by calling 1-855-438-8778 for help and general inquiries about their services and your account.