Upstart is designed for borrowers with less-than-perfect credit scores, offering a chance to secure personal loans even if your score is low or nonexistent. Their rates start at 6.70% APR, with a maximum of 35.99%, and amounts from $1,000 to $75,000 are available. You can choose repayment terms spanning from 3 to 5 years, allowing flexibility based on your financial situation. There is no minimum credit score required, and the application process utilizes a soft credit check, so your credit won’t be impacted when you check your eligibility.

Step-by-Step: How to Apply

• Begin by checking your rate online with a soft credit inquiry.
• Fill in basic information, including desired loan amount and purpose.
• If you pre-qualify, upload necessary documents (e.g., proof of income).
• Review loan terms and sign your agreement electronically.
• Receive funds as soon as the same or next business day after approval.

Pros of Upstart

Upstart stands out for its acceptance of all credit histories and fast funding—most borrowers receive their money within one day. The wide loan amounts make Upstart ideal if you need either a small loan or a larger sum for more significant financial needs.

Another key advantage is the use of an AI-based approval system, which considers more than just your credit score. This can enhance your chance for approval if you have alternative indicators of creditworthiness.

Cons of Upstart

Keep in mind, Upstart charges an origination fee which may go up to 12% of your total loan amount, reducing the amount you receive.

Additionally, personal loans from Upstart come with only two available repayment terms, limiting flexibility if you want to customize your payoff schedule further.

Our Verdict

Upstart personal loans are an excellent option for borrowers with bad credit or limited credit history. The application is simple and won’t hurt your score, and funding is quick. While the origination fee and limited term options are a drawback, the overall flexibility and credit acceptance give Upstart a worthy place on your shortlist if you want fast, reliable funding up to $75,000.