Upstart Personal Loans provide a quick application experience, flexible options even for those with no credit history, and fast access to funds. The annual percentage rates (APR) range from 6.5% to 35.99%. You can borrow from $1,000 to $75,000 with terms of 36 or 60 months. Notably, Upstart often funds loans as soon as the next business day if you are approved early and submit all required documents promptly. The company also accepts applications from people with credit scores as low as 300, and sometimes no credit history is required.

How to Apply for Upstart Personal Loans

• Visit the application page and fill out your basic information.
• Check if you qualify, even without a hard credit pull at first.
• Submit supporting documents if requested.
• Once approved, review and electronically sign your loan agreement.
• Once completed, funds are typically disbursed by the next business day.

Pros of Upstart Personal Loans

Upstart stands out by accepting applicants with little to no credit history, making it easier for many to access needed funds. The process is quick, with most people seeing loan decisions instantly and funding following as soon as the next day. There are no penalties for paying off your loan early, plus you can easily manage everything online.

Cons of Upstart Personal Loans

While fast and flexible, Upstart can have higher late fees compared to some competitors: 5% of the past-due amount or $15, whichever is greater. Some borrowers may also encounter an origination fee of up to 12% of the loan amount, which can add to the overall cost. Additionally, paper copies of your agreement incur a $10 charge.

Our Verdict

For borrowers seeking a fast, streamlined process and flexibility around credit history, Upstart is a top choice. The same-day or next-day funding and fair approval process are balanced by some potential fees, but Upstart’s transparent approach makes it suitable for those who need money quickly and don’t want credit history to hold them back.