NorthWestern Financial Review


Upstart Overall rating: ★★★☆☆ 2.5 based on 8 reviews.
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Upstart is an online lending platform that connects borrowers and investors to several lending partners who offer personal loans online. It offers loans ranging between $1,000 and $50,000 to borrowers with fair credit, excellent credit and even no credit. Most loan decisions are automated and use artificial intelligence.

Company name Upstart Network, Inc.
Founded 2012
Address P.O. Box 1503. San Carlos, CA 94070
Phone number 1-855-438-8778



  • Great option for online borrowers
  • Streamlined approval and application process
  • High maximum loan amount
  • Borrowing flexibility in how you spend your loan proceeds
  • Considers education and area of study for approval
  • No prepayment penalty
  • Automated investing feature
  • Works with fair credit and no credit
  • Good for college graduates
  • Payment dates modification allowed
  • Fast funding potentially as soon as one business day
  • Checking your rate on Upstart will not affect your credit score


  • No physical branches
  • A minimum FICO score of 620 needed
  • High maximum APR of 35.99%
  • High average APR of 20% on a three-year loan
  • Up to 8% origination fee
  • Lackluster rates for top-tier credit
  • Loans are not available to Iowa or West Virginia residents
  • Minimum annual income of $12,000 to qualify
  • Does not offer mortgage loans
  • Co-signers are not accepted

Bottom line

Upstart’s rates are affordable and their loans cab used for various purposes. However, this lender will not be suitable for you if you need a personal communication – the company has no branches across the country. Upstart personal loans are good for you live in one of the states other than Iowa or West Virginia, if you have fair credit or limited credit history, if you don’t mind paying an origination fee, and if you want fast access to money and prefer the entire process to be done online.

Types of loans

Upstart only offers personal loans that can be used for almost everything, including:

  • Debt consolidation
  • Medical bills
  • Business startup or expansion
  • Higher education
  • Large purchases
  • Home improvements
  • Moving
  • Travel

Upstart loan requirements

The lender has a minimum FICO credit score requirement of 620. In some cases, the company is able to approve some borrowers in the fair credit range and borrowers with no credit history. To qualify, you must:

  1. Be at least 18 years old, or 19 if you live in Nebraska or Alabama;
  2. Live in a state other than West Virginia or Iowa;
  3. Be a U.S. citizen or permanent resident unless you’re on active duty in the military, in which case you do not need to live in the U.S.
  4. Have an active personal bank account;
  5. Have a valid email account and Social Security number;
  6. Have verifiable employment or a full-time job offer that starts in six months or less (minimum annual income of $12,000)

Category: Online Loans

Tags: 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, Wyoming

Upstart Reviews

Ease of application, money immediately in account, no penalty for early repayment..
- Nancy Starks

Upstart's rate was fair, the website is easy to use. Great job. I've already had 4 loans with them. They also don't mind if you just need a short term loan of 3 months etc.
- Kyle Carstensen

I got denied even though they advertise bad credit or no credit! Waste of time!
- Jennifer Champagne

If you are late with your payment, they will automatically withdraw the funds without notice!!! So angry!!!
- Nicole Jackson

My loan was $1,500 and fee was $250 so I only got $1,250 but they still want me to repay $1,500 + interest! Worst experience! Do not use them!
- Nancy Johnson

The worst company I have ever dealt with. They asked me to send out so much paperwork!!! Compare to other lenders, it’s the worst customer service.
- Karen Sheppard

Always check the fine print (especially about no prepayment penalty) before you accept the terms and rates. They DO charge interest on a balance that is paid early!!! BEWARE!
- Scott Thomas

Had a great experience with Upstart. I paid off my loan early and managed to cut down on interest. It was a very convenient and fast process. The person I spoke with was very helpful and professional.
- David Story

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