Upstart offers fast and accessible personal loans for borrowers who may have limited or imperfect credit. With interest rates starting as low as 6.7% APR and loan amounts ranging from $1,000 to $75,000, this lender caters to those needing flexible funding quickly. Borrowers can choose either 36 or 60-month terms, and there is no early payoff penalty. Origination fees range from 0% to 12% of the loan amount, and most loans are funded within one business day of approval.

How to Apply for Upstart Personal Loan

The application process with Upstart is conducted entirely online. First, fill out the application form, providing your personal details such as income, address, and Social Security number. After submitting, you’ll receive a preliminary approval decision, sometimes without needing documentation. If approved, sign the loan agreement electronically and complete any required verification steps. Once everything is finalized, Upstart disburses the funds—most applicants have the money in their bank account by the next business day.

Pros

One major advantage is Upstart’s openness to applicants with limited credit or even no credit history. Additionally, there are no penalties for paying off your loan early, and funding is typically fast, enabling you to address urgent expenses quickly.

Cons

On the downside, Upstart’s origination fees can be significant—up to 12% for some applicants, automatically deducted from your loan. Late payment fees are also relatively high, and a Social Security number is required. Applicants should review their documentation carefully to ensure all requirements are met to avoid delays.

Our Verdict

Upstart stands out for its accessibility to less traditional borrowers and its fast funding process. While the fees can add up, this lender is a strong choice if you need funds quickly and your credit history isn’t perfect. Ensure you understand all terms and costs before signing up. Borrowers seeking urgent funding with flexible requirements should consider Upstart as a leading option.