5 Reasons to Apply for a Loan Through Upstart

It may seem frivolous to take out a personal loan, however, under certain circumstances, it can greatly benefit you when used and paid back properly. Personal loans are borrowed money that can be used to do things such as, consolidating debt, financing weddings, emergency home repairs and medical expenses.

Upstart is great for people who may have shorter credit histories, but have promising financial futures. We look at more than just your credit score to provide you the personal loan you deserve.

If you are in the market for a personal loan or have been denied elsewhere, here are a few reasons to consider Upstart:

1. We accept borrowers new to credit

If you have a thin credit profile, your options may be limited in lending options. Though it may be discouraging at first or even tempting to jump on a high interest rate payday loan, there are other options available.

Upstart can help those new to credit because we believe you are more than your credit score. On Upstart, your education² and experience can help you get the loan you deserve. Not everyone has had the chance to build their credit over a long period of time for any number of reasons, but that doesn’t mean they do not deserve a loan.

With a personal loan through Upstart you can pay off those high interest credit cards or make that long needed home improvement, while also building your credit.

2. Fast funding for peace of mind

Payday is a rewarding moment, and you deserve to be paid for your hard work! But what if you’re caught in a bind and the next check isn’t for another week or the end of the month?

Whether an unexpected expense occurs or you’re ready to pay off some high interest credit cards, it’s always nice to have the funds in your account sooner rather than later. While other companies may take anywhere from a few business days to a week to deposit funds, 99% of Upstart’s borrowers will have access to their funds as soon as next business day. †

So no need to wait around for another lender or that next payday, check out Upstart and get some peace of mind sooner!

3. Quick and easy to apply

Shopping for personal loans can be time consuming and overwhelming, but the application process shouldn’t be. Upstart’s application process can be done on a single page and you can check your rate in 5 minutes. The process is simple:

Input the loan amount and loan term you’d like
Fill in some basic personal information
Report your income
And be sure to include educational background(Any level of schooling can apply)

And that’s it! A soft credit check will be run on your credit report, but it will not impact your credit score.* At this point you’ll see what loan amount Upstart can offer you and what your monthly payment will be. If you decide not to continue, no problem. You can check your rates again at any time.

4. Convenient customer support

Customer support is important to us. We want you to feel confident that you’re getting the support you need throughout the loan process. That’s why we’re available from 6am – 5pm PST, 7 days a week (including most holidays).

Want to know a little more about Upstart and what we do? Have any questions about the application process or requested documents? Maybe you need help setting up your payment dashboard. Upstart’s support team is here to answer any questions and help you through the process. We are available through phone and email support, so relax and know we’re here for you.

5. Transparency throughout the process

At Upstart, it is our goal to be transparent with you. That means open communication about how the application process works, explaining any fees and how they’re applied, knowing what your rates and monthly payments are, as well as a customer service team available to answer any of your questions. We are also open about what documents we need and update you throughout the process.

Most of our loan information can be found at our help center here. We want to make sure that your personal loan is only processed once you’ve read over the terms and conditions and have agreed to them. This way you have all the information you need before accepting your loan and are aware of your payment schedule. There are no prepayment penalties and you will have access to schedule your payments to what best suits your needs.

Transparency is not only the right thing to do, but we also want you to think of us first if you or any of your loved ones ever need a loan.

Upstart your life

Read some of the reviews from borrowers here and see what people are saying. You can also learn more about us through our borrowers here.

† If you accept your loan by 5pm ET (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and in accordance with federal law.

Upstart Network, Inc. (NMLS #936133) is not a lender. All loans on its marketplace are made by regulated financial institutions.

All mortgage lending is conducted by Upstart Mortgage, LLC dba Upstart Home Lending. (NMLS #2443873). Equal Housing Opportunity.

Checking your rate won’t affect your credit score: When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
Upstart’s model considers education: Neither Upstart nor its lending partners have a minimum educational attainment requirement in order to be eligible for a loan.
41% more approvals and 33% lower rates than a traditional model: As of publication in April 2026, and based on a comparison between the Upstart model and a hypothetical traditional model using Upstart data from Jan – Dec 2025. For more information on the methodology behind this study, please see Upstart’s Annual Access to Credit results here.
Unsecured Loans: While most loans through Upstart are unsecured, certain lenders may place a lien on other accounts you hold with the same institution. There may be an option to secure your personal loan through Upstart with your vehicle, which will require a lien to be placed on the vehicle. It is important to review your promissory note for these details before accepting your loan.
Loan amounts from $1,000 -$75,000: Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state: GA ($3,100), HI ($1,500), MA ($7,000). Maximum loan amounts may vary by state.
Closing and funding timeline: In April 2026, 10% of funded HELOCs achieved a closing timeline of 2 days or less and a funding timeline of 7 days or less. This timeline assumes consumers close with our remote online notary, provide supporting documentation promptly, and ensure the information provided is accurate and consistent with our verification process. Delays, discrepancies, and other unforeseen factors may impact the closing timeline. MBA’s 2025 Home Lending Study reports an average industry closing time of 37 days.
APRs from 6.2% – 35.99%, with 3 or 5 year terms: The full range of available rates varies by state. The lowest rates are only available to the most qualified applicants. A representative example of payment terms for an unsecured Personal Loan is as follows: a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 17.50% and a 7.25% origination fee of $725, for an APR of 21.23%. In this example, the borrower will receive $9275 and will make 60 monthly payments of $252. APR is calculated based on 5-year rates offered in March 2026. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
Instant deposits: To receive instant funding, your bank account must support instant transfers. If your account does not support instant transfers, funds will be available to you depending on your bank’s transaction processing time and policies.
Always On Commitment: We are committed to maintaining your credit limit as long as you continue to meet program eligibility and account requirements. To ensure the safety and security of all our members, we reserve the right to adjust or close lines in specific circumstances, including account default or late payments, suspected fraud, violation of our terms of service (including abusive behavior), or when necessitated by legal or regulatory requirements.
Cash Line draws: You may request a draw at any time. Only one draw may be outstanding at a time; after it is fully repaid, you may request another.
HELOC APRs as low as 6.52%: Terms shown here are subject to change without notice. APRs for initial advances range from 6.52% to 18.00% based on rates offered as of April 2026. The lowest rate is only available to consumers willing to become a member of a credit union and to those who meet a minimum FICO score of 780, CLTV under 70%, and DTI under 45%. Your actual rate will depend on many factors such as your credit history, combined loan-to-value ratio (CLTV), line amount, loan term, lien position, and property state. Origination fee to open an account is between 0% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.00%. Property insurance is required.
No annual fee, prepayment penalty, or fees to redraw: Terms shown here are subject to change without notice. Origination fee to open an account is between 0% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.00%. Property insurance is required.
2,500+ Variables:As of 3/31/2026. “Variables,” often also referred to as “features,” refers to raw variables and combined variables considered in our AI models. A “raw” variable is a non-combined, conceptually distinct unit of data, such as “applicant-reported savings.” A “combined” variable is data that has been transformed, combined, or otherwise engineered from a raw variable or set of raw variables, such as “applicant-reported savings” divided by “loan amount.
Fully automated loans: In Q2 2026. Percentage of Loans Fully Automated, which is defined as the total number of loans in a given period originated end-to-end (from initial rate request to final funding for personal loans and small dollar loans, and from initial rate request to signing of the loan agreement for auto loans) with no human involvement required by the Company divided by the Transaction Volume, Number of Loans in the same period.