Upstart is a peer-to-peer lending personal loan company that offers financial solutions primarily for recent college graduates and young professionals. Borrowers can obtain unsecured loans at fixed rates.

What separates Upstart from other personal loan online lenders is its unique approval process. For a recent college graduate, Upstart looks at other factors such as education and employment history instead of only credit history. Because this process is tailored to meet the individual applicant, Upstart states it is able to save its borrowers over 23 percent compared to high-interest credit card rates, and it does not require an excellent credit score. Read Upstart reviews below to see what consumers have to say about the online lending service.

The Good

  • High Likelihood of Approval
  • Flexible Options, Fast Disbursements 
  • Upstart Reviews
  • Upstart Loan Amount
  • Check Your Rate with No Credit Penalty
  • Three & Five Year Loans Terms

High Likelihood of Approval

Upstart is an excellent choice of lender for applicants who have little to no credit history and a quality education or a high-paying job. Upstart personal loans are tailored to meet the needs of the individual applicants. This is especially helpful for young professionals or recent college graduates. There is a minimum credit score requirement of 620, but there are no minimum lines of credit or years of credit required in order to borrow money. Factors that go into determining eligibility include:

  • Education 
  • Area of Study 
  • Job History 
  • Credit Score
  • Years of Credit 

Flexible Options, Fast Disbursement 

The loan application process is tailored to the needs of the applicant. This enables Upstart to pass on its savings directly to the borrower. This can be seen in its APR Range (lowest rate: 9.57 percent, highest rate: 29.99 percent), low fees, and competitive max loan terms (five years). 

The process is also incredibly fast. Most borrowers are able to receive their funds the day after they apply and are approved (it takes up to three days for education loans). It is at least a day faster than some top personal loan lenders.

Upstart Reviews

As of Early 2019, Upstart has a 4.5/5 star rating from consumers with hundreds of reviews. Upstart reviews highlight quick approval and fund transfer (money can be transferred to your bank account as soon as one business day after approval), quality customer service, and reasonable rates (9.57% - 29.99%).

Upstart Loan Amount

Upstart loans range from $1,000 to $50,000. Borrowers' qualified loan amounts are based on credit scores, income, and other determining factors provided on the loan application. Note that some states have minimum loan amounts that may affect your eligibility for smaller loans, depending on which state you are a permanent resident of. For example, Upstart states the minimum loan amount in Massachusetts is $7,000; the minimum loan amount in Ohio is $6,000; the minimum loan amount in New Mexico is $5,100; the minimum loan amount in Georgia is $3,100.

Check Your Rate with No Credit Penalty

To initially check your loan rate with Upstart, it will not affect your credit. Upstart checks your credit report with a soft inquiry, which does not negatively affect your credit as a hard inquiry does. Then, if you choose to accept the rate offer and continue through the loan process, Upstart will do a hard credit inquiry, which is common within the industry and will affect your credit. Having the rate check be a soft inquiry can give consumers peace of mind that it will not ding their credit if they decide not to accept the initial offer. 

Three & Five Year Loan Terms

Upstart offers three-year or five-year loans. Having this option allows you to select the option that works best for your financial situation, and because Upstart does not charge a prepayment fee, you can pay off your loan at any time, regardless of the loan term. 

Visit Site

The Bad

  • May Not Be Ideal for Debt Consolidation
  • Fees Can Add Up

May Not Be Ideal for Debt Consolidation

Although the approval process is tailored to meet the needs of the individual applicant, being approved can be challenging. The average Upstart personal loan borrower has the following credentials:

  • Credit Score of Roughly 620
  • Debt-to-income Ratio of 18%
  • Mid-twenties to Mid-thirties

The above credentials can be difficult to meet because most borrowers are looking to consolidate debt, like credit card debt or student loans.

Fees Can Add Up

Upstart unsecured personal loans do have fees to consider. It enforces a loan origination fee of one percent to six percent. The loan origination fee is taken out of the loan before the funds are disbursed to you, so the payment doesn't have to come out of your pocket. This percentage is determined by how qualified the borrower is. The higher rates go to less qualified applicants.

Upstart also charges a fee at a standard rate of five percent or $15 (whichever is greater) on late payments. It's a good idea to make sure your monthly payments arrive on time. However, this is quite common within the lending industry, and unlike some of its competitor lending companies, Upstart does not charge a check processing fee or a prepayment penalty. A prepayment penalty is an additional charge for paying off a loan early.

The Bottom Line

When choosing a lending company, Upstart is a solid lender to consider for young professionals with a good credit score, but little to no credit or credit history. Its unique application process allows these individuals to receive competitive terms.

Potential borrowers should be aware of the loan origination fee and late payment fees. However, this is common within the lending industry. There is also no prepayment penalty or check processing charges. Upstart unsecured personal loans are funded the day after an applicant has been approved, which makes them a great choice for someone in need of money quickly. Upstart has positive consumer reviews and a wide range of loan offerings, ranging from $1,000 to $50,000. 

With all Upstart has to offer, we suggest looking into the loan service provider. Especially since Upstart does not require a high credit rating and takes into account additional factors (such as education, job history, and income) to determine eligibility, it could be a great choice for your borrower needs. 

Why Can I Trust arrow_drop_down

User Reviews

Star Rating


338 Reviews

Review Breakdown

5 star
4 star
3 star
2 star
1 star

Sentiment Criteria

Value for your money
Quality of product or service
Customer service
Company trustworthiness
search cancel
Henry Gibson
August 27th, 2015 Anniston, AL

Upstart provides a much needed service for our generation! Many of us are graduating from college with debt to predatory credit card companies that we foolishly signed up for during our education. Upstart offered me a way of managing this debt and creating a solid plan for paying off my credit cards and getting my finances under control! Thank you to everyone who showed so much patience and even took time to make sure their offer was the most beneficial strategy FOR ME!

Trish Clark
August 27th, 2015 Seattle, WA

I never thought getting a loan to consolidate my credit card debt would be so easy! I applied on Sunday, and had the loan amount transferred to my bank account on Tuesday. The people I talked to during the application process were very helpful and kind.

kimberly kubik
August 27th, 2015 Cambridge, MA


Rich L
August 26th, 2015 New York, NY

refreshing, just what the loan industry needs. Wasn't even looking for a loan, but was able to get one to refinance other debt at a lower rate.

August 26th, 2015 Marshfield, MA

I can't believe how easy the whole process was. I completed the application on Monday and the money was in my account Wednesday morning! The staff were pleasant and professional. Upstart has given me a fresh start! Thank you.

Albert Chiang
August 26th, 2015 Santa Clara, CA

Fast and simple approval process. Very responsive customer service for parts that I had questions about. Very competitive rates, I'd highly recommend!

August 26th, 2015 Oklahoma City, OK

Upstart has been instrumental in helping me meet my financial goals and the customer service is seriously outstanding. Everyone I talk to treats me like a friend and you don't get the typical runaround of a foreign call center like you do with credit card companies. I applied at 10 am and was approved by 4 pm. Upstart is a game changer.

ioana uricaru
August 26th, 2015 Middlebury, VT

Upstart was very thorough and professional. I had an excellent experience with their customer service representatives and they inspired confidence much more than the similar companies I was considering working with.

August 26th, 2015 Aurora, IL

The process was very quick and easy and i got a decent rate.

August 25th, 2015 Boynton Beach, FL

The online application was very easy to complete and the approval process was super fast. I completed my application in the evening and received approval the next day. I was able to consolidate all my credit card debt under one loan and now have just one payment. The best part, with the low rate and 3 year payoff plan, I can see the light at the end of tunnel of credit card debt.

Linda Richards
August 25th, 2015 Staten Island, NY

I still can't believe what a great experience it was working with your team. Excellent customer service, extremely responsive to my questions and concerns. Would, and already have, highly recommend when you are considering applying for a loan.

Shayne Kiesbuey
August 25th, 2015 La Habra, CA

Such a pleasure to work with! Sarah made the process quick and easy. Highly recommend Upstart!

August 24th, 2015 Frisco, TX

The loan process was very easy. I had a hard time making money in college and getting a "real job" after. Upstart helped level the playing field against the 7 years of credit card debt I had slowly built up. With a higher paying job and less than half the initial interest rate, I will finally be free!

Nick Macknight
August 24th, 2015 Austin, TX

Fantastic process and very helpful staff. Keep it up! You're changing the game.

August 24th, 2015 Queens Village, NY

Customer service was excellent, very professional and kind.

Anne Vantine
August 24th, 2015 Mountain View, CA

Upstart gave me a new start! They were great about working with me to get the information together that they needed to evaluate my application even though at every step I was being thwarted by other entities.

August 24th, 2015 Chicago, IL

I did extensive research on Upstart prior to applying for a loan. Their business model is centered around college educated professionals between the ages of 24-35 who would not quality for conventional loans through the big names due to lack of credit history. Some of their investors include Google's executive chairman and the CEO of Salesforce. This instilled a lot of confidence in me to proceed with a loan. The application process is very simple. I filled out the online form, received a confirmation e-mail request for a photocopy of my college degree, pay statement and statement of savings account. I setup a verification the next day and then had the loan dispersed the following day. All and all the entire process took less than two full days. Very simple. I don't think you will find better interests rates out there than Upstart. It's an interesting business model and a great solution for someone like myself.

August 24th, 2015 Mount Dora, FL

This was the absolute easiest loan process I have ever had! The application was easy, the person whom I spoke with to verify my information was courteous, approval was quick & I expect my funds within 48 hours (my application/approval was completed on a SUNDAY)! I highly recommend.

Sabrina Park
August 24th, 2015 Mahwah, NJ

I am a recent college graduate and am in my second year of work. Over the past 4 years, I racked up a solid chunk of credit card debt. Refinancing using Upstart has been a HUGE burden-lifter. Getting approved for my loan was very quick and easy. The account managers responded to me on a daily basis and every step of the process felt safe and secure. If you've ever considered refinancing student debt or credit card debt, I highly recommend Upstart!

August 24th, 2015 New York, NY

Great service. Very efficient and attentive staff.

August 24th, 2015

Customer service is great! This company is both reliable, accurate and efficient. Thank you Upstart!

August 21st, 2015 Berkeley, CA

The process is quick and easy if you have all your documents ready. The person who called me to verify was super helpful, and clearly explained the terms. The communication via email is also very clear and timely. Thank you.

Ashley Flores
August 21st, 2015 Santa Clara, CA

This was by far the easiest loan process I have ever been through.

J.P. Nitsch
August 21st, 2015 Houston, TX

The process was quick and easy. I wish I had read up on the required documentation before I started the process as there was some documentation I didn't have readily available when applying. This lead to some revisions to the loan and a little extra time to find the additional documentation to straighten out the loan terms. But even with that little hiccup everything went very smoothly.

Gregory Bert
August 21st, 2015

Customer service was thorough and professional from the start. There were no hidden agendas and the people I spoke to were pleasant to deal with.

Kenneth Barnes
August 21st, 2015 Conroe, TX

Simple but could be faster with updates on status.

Norman Atkinson
August 21st, 2015 Cleveland, OH

At first I was skeptical of how long this would actually take after the documents were submitted. I've been through traditiona l banks geueling vetting process before... I was completely blown out of the water when I received my approval 12 hours after submitting my supporting documents and the funds the very next day! Upstart is truly changing peoples life for the better one loan at a time. I'm so fortunate there is a company that sees me as a person and not just another credit score.

August 21st, 2015 Los Angeles, CA

Efficient, sensible, and nothing scary about the process. I can't wait to be on the flip side of this business and become an investor.

August 21st, 2015 Fort Mill, SC

Simple process of applying. The entire process took about three days from initial application to funding. Very well run system.

Scott Loomis
August 21st, 2015 Burbank, CA

Everyone was so friendly and the process was very easy.

Joseph Stanievich
August 21st, 2015 Clawson, MI

quite nice!

Mark Quamme
August 21st, 2015 Saint Paul, MN

Everyone has been fantastic to work with! They were thorough in explaining, wanted to make sure I was getting the best rate possible, and made sure everything was set to go. I was very thankful for the help!

Justin Fisher
August 21st, 2015 Harleysville, PA

Simple process, quick funding!

Nikolaj Zemesarajs
August 21st, 2015 Columbus, OH

Amazingly quick and easy process to get a loan. Plus I'm so intrigued by the other stuff Upstart adds to their risk model for loans like school and major. As a Data Analyst myself, the model seems really cool and innovative.

Doug Julius
August 20th, 2015 Ypsilanti, MI

We had a good experience with Upstart. The rep, Nishani, was kind and respectful and very responsive to our questions. We received our loan on the very day promised. Our only complaint would be we wish we had known upfront that there would be a $750 origination fee. We would have asked to borrow a bit more so we could pay off the total debt we wanted to clear.

Stephen Ehele
August 20th, 2015 MN

Fantastic process, efficient, high-quality. On-line process was straight forward and timely. Had funds in my account quickly; interest rate and other terms were very fair. Only thing keeping this from a "10" was some challenge with phone agent who completed the 5 minute verification call. Her phone skills/tone could use some refining. All other aspects of this were world-class. Highly recommend.

August 20th, 2015 Southfield, MI

Upstart is a breath of fresh air! FINALLY a company that is willing to promote a debt free lifestyle, and they ACTUALLY put "their money where their mouth is"! I LOVED my experience, and am THRILLED that upstart offers investment opportunities as well. With debt paid down, I WILL become an investor in this fantastic company who is affording me the chance to pay off debt FOREVER, and GROW my investment! PURE GENIUS!! Sooo very grateful. Thank you!

August 20th, 2015 Chicago, IL

I have high interest credit cards and wanted to consolidate them and pay them off. They offered me a great interest rate, I provided the required docs, did a phone verification, and about 3 days later received my loan. It's a lot of process but pretty easy steps. Would recommend to anyone who needs a short term loan (has to be paid with in 3 years) with decent interest rate.

August 20th, 2015 Honolulu, HI

We were looking for a way to consolidate our high interest credit card debt and saw your sponsored Facebook ad. We had used our credit cards to start our business and needed a way to finally get out from underneath the monthly finance change and high payments. We recently had great success with Kabbage to access a line of business capital and so we decided to take a chance on Upstart because "Why not? This could be the ticket to digging us out of a hole since no banks will help us!" Sure enough, within 2 minutes of visiting your website, we were offered just the amount we needed to help pay down most of our debt. The interest rate and monthly payback amount were both quite reasonable. Once I accepted the loan, it only took 1 more day to be approved and the next day the money was in my account. I've already paid off two credit cards and feel elated. Thank you for taking a chance on us when no one else would.

August 19th, 2015 Beaumont, TX

Fast and easy way to get the money you need at a low interest rate.

August 19th, 2015 Paramount, CA

Very pleased and impressed with the process. They look at more than just your credit score, which is great. Both thorough and friendly. Easy to navigate through the process, and very helpful. Started the process on Monday afternoon, had money in my account by Wednesday morning. Would probably never use a bank for anything other than another home loan with upstart around.

August 19th, 2015 Gulfport, MS

The process is fast, user friendly, and very straight forward. I was very impressed with the service and professionalism of the Upstart team.

August 19th, 2015 Washington, DC

The Upstart team was responsive, attentive and courteous. They made the entire process a painless one.

August 19th, 2015 Springfield Gardens, NY

Excellent Service! Very prompt approval process and helpful staff.

August 19th, 2015 New York, NY

Upstart is amazing. What would have taken me countless years to pay off was done in less than a day and will be paid off in only three years with upstart. They mean what they say when they state "you're more than your credit score." Thank you for helping me turn things around..

August 19th, 2015 Brooklyn, NY

Great customer service: knowledgeable, friendly, eager to walk me through the process, patient. Wouldn't change a thing!

August 19th, 2015 Miami, FL

Ridiculously easy application process; awesome staff; friendly callers; tech friendly for provision of evidence. All around awesome. And more importantly, GREAT interest rates!

August 19th, 2015 Birmingham, AL

Great people, great customer support. Try it!

Todd Franklin
August 18th, 2015 New York, NY

Incredibly easy! I was in need of a short term loan to cover a lump sum education cost. Upstart made this possible!

August 18th, 2015

Very smooth process with kind and knowledgeable people at the helm.