Borrower Story: Raquel’s Wedding Loan

Raquel borrowed $20,000 from Upstart for her upcoming wedding
She liked the option to pay the loan off quickly without a repayment fee
The online application process, which was “smooth and fast” was completed on her phone

Sometimes, the best laid out plans don’t end up working out. Bride-to-be, Raquel, experienced just that when she realized her October wedding was quickly approaching. “Even though we saved, saved, saved, we knew we weren’t going to have enough to cover our wedding.”

With the average wedding now costing around $33,000 and only a few months left before the big day, Raquel and her partner decided to apply for a wedding loan.

“[At the time,] I didn’t know about Upstart. My first thought was to just call my bank and see what they could do for me.”

She decided to first apply for a $20,000 loan at her bank, Navy Federal Credit Union. However, due to a blemish on her partner’s credit, they were not approved.

A 20-minute approval from Upstart: ‘I was like, wow.’

Raquel discovered Upstart through a recommendation she saw from her Credit Karma account.

After checking Upstart’s website, she saw there is no penalty for paying the loan off early. She immediately had a payoff plan in mind. “We’re moving to North Carolina in January so our house is for sale. It has good equity and once it sells, I’ll be able to pay off the loan.”

That was enough to sway her to sign up, so she applied online using her phone. “The whole process was so fast. After I applied, I literally got a phone call 20 minutes later letting me know I got approved. I was so happy.”

Raquel believes Millennials are behind on building their credit but “Upstart gives you a chance”

As a Millennial with good credit, Raquel knows she is lucky. She has a healthy mix of credit from her mortgage, auto loan, and credit cards but recognizes it’s an uphill battle for her fellow Millennials and new grads.

“Millennials aren’t as established, and even if you are, your credit score may not necessarily reflect that. For college grads, their student loan debt might make it tough to qualify for a loan. Companies like Upstart are recognizing these issues and taking other factors into consideration. Upstart gives people a chance.”

Rather than focusing only on a credit score and credit history, Upstart looks at your education, job, and life factors that come into play. They look at your real life situation and the impact it has on your ability to repay the loan.

Military life, an upcoming wedding, and a happily ever after

Six years into her 12-year career in the navy as a medic, she met the love of her life, Yuslic.

What started off as friendship, evolved into something deeper. Yuslic gushed, “We realized there was something there, and so we decided to give it a shot.” Now, with Upstart’s help, they’re busy preparing for their vows in a ceremony in Los Angeles.

Raquel, still in the navy, now works as a supervisor and truly enjoys mentoring others. She’s thankful for the different experiences and connections she’s made over the years and looks forward to her new life with Yuslic in North Carolina.

You have more options outside of your bank

“People naturally gravitate towards their bank, but they don’t realize there are other companies [like Upstart] that are out there to help them.”

She admits that borrowing money can feel “nerve wracking because you get asked a lot of personal questions. But with Upstart, it was so smooth and customer service was really great. I was amazed at how quick it was. I already started making payments!”

Do you have an upcoming expense to pay for? Or maybe you’re ready to consolidate high interest credit cards. Give Upstart a shot and see if you qualify. It only takes a few minutes and won’t affect your credit score.

Disclosures:

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. Loans are not available in West Virginia or Iowa.

If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day.

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.

Upstart Borrower Story: Raquel’s Wedding Loan