Upstart Personal Loans

Information verified correct on June 5th, 2017

Upstart: Personal Loans | Debt Consolidation | Online Lending

Loans from $1,000 to $50,000. Check your rate in minutes for free without hurting your credit score. Consolidate your debt into 1 easy, low-rate payment.

Upstart is a platform that allows you to obtain unsecured, fixed rate personal loans. Upstart believes that you are more than your credit score. Our statistical model considers the school you attended, your area of study, academic performance, and employment history in addition to you credit history. This allows us to offer you the loan you’ve earned.

All Upstart loans offer a fixed rate, but individual rates are determined based on each person’s education, credentials, work experience, and credit history. The range of rates from 8.69% – 29.99% APR.

All loans are made by Cross River Bank, an FDIC insured New Jersey state chartered commercial bank.

Product NameUpstart Personal Loans
Min Loan Amount$1000
Max. Loan Amount$50000
Loan Term1095 - 1825 days
Turnaround Time business day(s)
Bad Credit LoansNo
Direct LenderNo
ProductsDebt Consolidation, Personal Loans
RatesThe range of rates from 8.69% - 29.99% APR.
Contacts Upstart Operations Dept. P.O. Box 1503 San Carlos, CA 94070
[email protected]
Social Accounts

Is Upstart Available In Your State?

Upstart is available in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, DC, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, 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, West Virginia, Wisconsin, Wyoming.

How to Apply for a Loan from Upstart

To qualify for a loan, all loan borrowers must: 1) be a U.S. citizen currently living in the U.S., or a permanent resident currently living in the U.S.; (unless military personnel on active duty, in which case it is not required that the applicant be currently living in the US.) 2) not be residing in West Virginia 3) be at least 18 years old (applicants from Alabama and Nebraska must be at least 19 years old); 4) have a valid email account; 5) have a verifiable name, date of birth and social security number; 6) have a full time job, a full time job offer starting in 6 months (except if accepted to a partner bootcamp and seeking employment after graduation), a regular part time job or another source of regular income; 7) have a personal banking account at a U.S. financial institution with a routing transit number; 8) meet our minimum credit requirements; and 9) If an existing borrower on the Upstart Loan Program, the borrower/applicant must have made on-time payments for your 6 previous consecutive payments, with no failed payments , have no more than one outstanding loan in the Upstart Loan Program at the time of application, and have no more than $50,000 of total principal outstanding at the time the loan originates. 10) wait for a period of at least 1 month after paying off a previous Upstart loan

Upstart Business Ratings

Upstart Network has received 4.01 out of 5 stars based on 2 Customer Reviews and a BBB Rating of A+.

BBB Accreditation
A BBB Accredited Business since 11/30/2015
BBB has determined that Upstart Network meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business's products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business's product quality or competency in performing services.

BBB File Opened: 11/04/2015
Business Started: 03/06/2012
Business Started Locally: 03/06/2012
Business Incorporated: 03/06/2012 in DE
Type of Entity: Corporation
Business Management: Mr. Dave Girouard, CEO
Business Category: Financial Services
Service Area: This company offers: 3 year fixed rate loans to qualified borrowers. This business service area covers: United States.

Upstart Company Information

Upstart is an online lending marketplace that provides personal loans using non-traditional variables, like education and employment, to predict creditworthiness.

Upstart first launched in April 2012 with an Income Share Agreement (ISA) product, which enabled individuals to raise money by contracting to share a percent of their future income. In May 2014, Upstart pivoted away from this product and toward the personal loan marketplace. With this pivot, Upstart began offering a traditional 3-year loan, and has since expanded to offer a 5-year loan product as well.

Upstart developed an income and default prediction model to determine creditworthiness of a potential borrower. This means that in addition to traditional underwriting criteria—FICO score, credit report, and income—the Upstart underwriting considers academic variables—colleges attended, area of study, GPA, and standardized test scores—and work history to develop a statistical model of the borrower’s financial capacity and personal propensity to repay.

Upstart raised a $1.75M seed round from First Round Capital, Kleiner Perkins Caufield & Byers, New Enterprise Associates, Google Ventures, Crunchfund and Mark Cuban. They subsequently raised a series A round of $5.9M which included new investors Eric Schmidt (Google Executive Chairman), Marc Benioff, Khosla Ventures, Founders Fund, and Collaborative Fund.[1] Jessica Jackley and Bob Kerrey serve as advisors to the company. Most recently, Upstart raised a series C round of $35M from Third Point Capital in June 2015.

Upstart Offices

Upstart Operations Dept., P.O. Box 1503, San Carlos, CA 94070

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