Upstart Review
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Upstart Reviews

Lauren Le-Hair


Lauren Le-Hair

Get Funding Within One Working Day
Get Funding Within One Working Day
About Upstart

Founded in 2012 by two former members of the Google management team, Upstart was the first lending company to utilize machine learning to automate and optimize the borrowing process. Their goal with Upstart was to process loan-making decisions using Artificial Intelligence (AI) using non-traditional variables. These include job prospects and education levels, which are generally not factored into loan decision-making.

One of Upstart’s main selling points is its rapid decision-making process regarding loans, which leads to swift loan payments. Upstart also offers loans to individuals with lower credit scores, although this comes with slightly higher APR rates as expected.









Upstart Personal Loans Review

Upstart is one of the pioneers of automated personal loans. Its AI and machine learning software used to approve or deny loans is cutting edge, with over 70% of Upstart’s loans being fully automated. Key terms associated with Upstart personal loans are shown below.

Upstart Personal Loans Highlights


$1,000 - $50,000


5.6% – 35.9




24 hours











Pros & Cons

  • A simple, streamlined application process
  • Very competitive APR rates
  • Upstart considers broader factors other than just credit rating
  • A wide range of loan options are available
  • Responsive customer service
  • Expensive origination fees of up to 8%
  • Shorter than the standard late payment grace period of just 10 days
  • Maximum loan term of 60 months

Loan Purpose

  • Credit Card Refinance
  • Debt Consolidation
  • Home Improvement
  • Major Purchase
  • Medical Expenses
  • Vacation
  • Wedding

Upstart Personal Loans Terms & Requirements

Upstart is very clear about what is required to obtain a personal loan.

Loan Requirements

  • A minimum credit score of 300.
  • A credit score must be maintained between loan acceptance and fund receipt.
  • No delinquent account
  • Less than six credit report enquiries in the past six months. This does not include inquiries relating to mortgages, student loans, or vehicle loans.

Loan Terms

  • Typical APR rates range from 5.6% – 35.99% (see Upstart’s homepage for the latest rates, subject to state restrictions)
  • A personal loan amount ranges from $1,000 – $50,000 (varies by state, see website for state-specific ranges)
  • No prepayment fees
  • Upstart has a late payment grace period of 15 days.
  • 0%-8% origination fees
  • Some states have a minimum loan amount. For example, GA is $3,100, and MA is $7,000.

Repayment Terms

  • 36 – 60 months

Qualification Requirements


Minimum credit score and credit history Credit score must be above 300

No bankruptcy in the prior 12 months

Debt-to-income ratio 45% or lower in Connecticut, Maryland, New York, and Vermont. 50% or lower in other states.
Citizenship Available for US citizens only
Age Minimum age of 18
Job Status Must have a full-time job or be able to provide proof of a full-time position starting within six months
Bank Account Proof of bank account is required during the onboarding process


Required Information

To start the process of getting a personal loan from Upstart, you need to provide the following items:

  • Name
  • Address
  • Date of birth
  • Social Security Number
  • Phone number
  • Email address
  • Monthly income details and proof of income (e.g. pay stub, W-2 form)
  • Employment history

Application Steps & Time Frames

If you have all documentation to hand during the application process you can have the loan amount in your bank account in 24 hours. The initial application process took us 15 minutes, and the process was very straightforward. Funding was in our account in a day, making Upstart one of the quickest loan providers in the market.

State Availability

Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming.

Not Available - Iowa, West Virginia.

Privacy & Security

As with all online loan providers, Upstart collects your personal information and shares this with necessary parties such as third-party financial companies, trustees, and credit bureaus. However, the company will not sell your personal data to third parties for marketing purposes.

Electronic and physical safeguards are in place to ensure that your data is secured correctly and in line with compliance law.

Customer Support

You can contact Upstart’s customer support team seven days a week via phone, email, or social media. Yet, your first port of call should be the handy FAQ page, which answers many commonly asked questions and queries.

When reaching out to Upstart via email, the team was quick to respond, helpful, and friendly. Ultimately, this can make the loan application process much more straightforward.

Phone Support
(855) 438-8778
Monday to Sunday
6:00 AM to 5:00 PM PST

In Conclusion

Upstart is a personal loan provider with a difference. The company’s AI loan decision-making, factored with its non-traditional methods, means that personal loan financing is opened up to a broader user base than many other loan providers.

The fact that loan funding can be in your bank account within 24 hours is another great benefit of using Upstart for all your personal loan needs. However, the APR applied to Upstart loans can be expensive, and the terms are less flexible than other private loan providers.


Can I take out an Upstart personal loan with a co-signer?
No, you must input your personal information when taking out a personal loan with Upstart, whether you have a co-signer or not.
How much can I borrow?
Upstart personal loans range from $1,000 in most states to $50,000.
Can I get an Upstart personal loan with no credit history?
Yes. Upstart may consider other factors, such as education and employment. Yet, this type of personal loan will likely incur a high APR.

Upstart Disclaimer

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. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5100. The minimum loan amount in GA is $3,100. The full range of available rates varies by state.

The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 15% and 36 monthly payments of $33 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. 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.

If you accept your loan by 5pm EST (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 funding under federal law.


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Lauren Le-Hair

As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.