Upstart: Helping Americans acess affordable credit from $1,000 to $50,000

Upstart is a US digital lending app and platform providing quick online loans from $1,000 to $50,000 from several lending partners. Upstart says it’s different from others who only look at your credit score and credit history — their evaluation process also looks at your education, major, and job history.

In addition to your credit, Upstart digital lender will consider your education and job history to determine creditworthiness — which means you might qualify even if you have little to no credit history.

Upstart: Helping Americans acess affordable credit from $1,000 to $50,000

The lending platform uses artificial intelligence (AI) to improve access to affordable credit while reducing the risk and costs of lending for their bank partners. By leveraging Upstart’s AI platform, Upstart-powered banks can offer higher approval rates and experience lower loss rates*, while simultaneously delivering the exceptional digital-first lending experience their customers demand.


  • Might be able to qualify with little to no credit history
  • Accepts poor and fair credit
  • No prepayment penalty


  • Origination fees from 0% to 8%
  • Charges late and returned check fees
  • Not available in Iowa or West Virginia

Upstart quick loans are best if:

  • Your education and job history demonstrate your potential
  • You want the option to pay your loan off early

Upstart loan details

Upstart-powered lenders offer quick loans from $1,000 to $50,000 with fixed interest rates and repayment terms of 3 to 5 years. Loans through Upstart may be used for many purposes like debt consolidation, moving, weddings, and medical bills.

Loan amount

$1,000 to $50,000

Loan terms

3 to 5 years

Min. credit score

580 (in most states)

Time to get funds

As fast as 1 business day6


  • Origination and other fees from 0% to 8%
  • No prepayment penalty
  • Late fee of 5% of the past due balance or $15, whichever is greater
  • $15 for Check Refund Fee


  • Must be a U.S. citizen or permanent resident
  • Available in all 50 states

Loan use

Any quick expense or purchase

Key benefits

  • Available to borrowers with no credit score, or credit scores as low as 580 (in most states)
  • Streamlined approval and application process
  • No prepayment penalty

Best for

  • Below average or no credit
  • Borrowers with strong education, work history

Upstart quick loans review

Upstart uses machine learning to “price credit,” allowing you to get a lower rate if your education and job history demonstrate potential that’s not reflected in your credit score.

If you have “thin credit” — meaning there’s not enough information about you to generate a credit score — you may still be eligible with Upstart.

How to qualify

There are three major criteria you need to meet in order to qualify for a quick loan through Upstart:

  • Credit score: If you don’t have enough information in your credit history to generate a credit score in the first place, you might still be eligible. However, if you do have a credit score, eligibility requirements include a credit score of at least 580 (in most states).
  • Employment: You’ll need a regular source of income or be able to demonstrate that you have a job offer starting within the next 6 months.
  • Residency: You need to be a U.S. citizen or U.S. resident, and you can’t live in West Virginia or Iowa (where loans on Upstart aren’t available).

Loan amounts and interest rates

If you’re a go-getter with a thin credit file or less-than-perfect credit looking to borrow between $1,000 and $50,000, Upstart could be a good option for you. But if you need to borrow more than $50,000, there are some lenders who offer quick loans up to $100,000.

If you have thin credit or less-than-perfect credit, you can expect to pay relatively high rates. Upstart reports that the average APR on a three-year loan offered through its platform is 21%.


Like many lenders who offer quick loans, Upstart charges an origination fee of anywhere from 0% to 8% of the loan balance, depending on your credit report and state of residence, and other fees. Fees charged by any lender will be reflected in your annual percentage rate (APR).

The good news is that Upstart does not charge prepayment penalties. So if you want to repay your entire loan balance ahead of time, you won’t have to pay any extra fees.

Fast loan approval

Once you accept your loan, Upstart says it can put the money right in your bank account as soon as the next business day after approval6.


You can make your monthly payments electronically, either by authorizing automatic withdrawals from a bank account or by making electronic payments manually. You can also send checks by mail.

How to take out a quick loan through Upstart

When taking out a quick loan, it’s always smart to compare rates from multiple lenders to find a loan that fits your budget. Remember to factor in any fees, and keep in mind that the repayment term will also affect your monthly payment. The shorter the repayment term, the lower the rate offered by most lenders — but the higher the monthly payment.

Credible allows you to compare prequalified quick loan rates, repayment terms and monthly payments available to you from multiple lenders including Upstart.

You can apply for a Upstart Loan from HERE

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