PrimeRates provides access to personalized loan offers through our simple and quick pre-qualification application. Once you’re pre-qualified, you can select the best offer for you and finalize the loan application with the lender.
1
Simple pre-qual application in less than 1 minute.
2
Choose the offer that best fits your needs.
3
Finalize your loan offer, get approved, and receive funds.
Upstart is an online lending marketplace that determines creditworthiness by accounting for nontraditional variables including education and employment, rather than approving or denying applicants based solely upon their credit reports. Founded in 2012 as an income-sharing service, Upstart pivoted to the personal loan space two years later and has since made a name for itself by helping ambitious students, recent graduates, and people from all walks of life find financial stability.
Good For: New Borrowers, Average Credit, Fast Cash
Upstart’s unique prediction model sets it apart from most other lenders in the marketplace, and it especially appeals to young people who haven’t yet established enough credit experience to qualify for attractive loans. Upstart is also positioning itself as a more tech-centric lender by offering to pay the tuition costs for borrowers who pursue coding as a career.
There’s a lot to like about Upstart, but is it the right personal loan provider for you? Here’s everything you need to know.
 |
|
| APR range | 5.99% – 35.89% |
| Available loan terms | 36 – 60 months |
| Loan amounts | $1,000 – $50,000 |
| Time to fund | One business day |
| Origination fee | 0% – 8% |
| Credit needed | 620+ |
| Income needed | N/A |
| Soft Credit Check? | Yes |
| Best for | New Borrowers, Borrowers With Thin Credit, Fair Credit |
| Click “Check Rates” to apply to Upstart
|
|
» MORE: Personal loans for fair credit
There are many sketchy lenders on the internet, which understandably leads some people to wonder, Is Upstart legit? Well, rest assured, not only is Upstart an upstanding and reputable lender, but it’s also among the best-reviewed institutions in the industry. Although some Upstart personal loan reviews call out the company for being too picky about who they approve, and some people have voiced complaints about the company’s customer service, for the most part, Upstart has earned overwhelmingly positive feedback from its customers.
In terms of Upstart loan requirements, the company doesn’t insist that borrowers have long financial histories in order to get approved, however, the prediction model does prefer FICO scores of 620 or above. As mentioned, aspects of an applicant’s education — including schools attended and areas of study — factor significantly into Upstart’s approval process, but that’s not to say that credit reports don’t play a role as well. In fact, having any negative remarks on your credit report could certainly stand in your way depending on whether it’s a minor blemish or a major eyesore.
Are you wondering how Upstart compares to the competition? Prosper and LendingClub are two of the lenders Upstart is most often compared to. And while Upstart certainly holds its own against these two other companies, it doesn’t quite excel in all areas.
Upstart vs Lending Club: In terms of interest rates, reputation, and lending limits, Upstart outperforms Lending Club without question. However, depending on how fast you need to get your hands on the borrowed funds, Lending Club might have the edge here, as Upstart’s education-related loans can take longer to process. Also, Lending Club offers several types of loans that Upstart doesn’t currently support.
» MORE: LendingClub Personal Loan Review
Prosper vs Upstart: Weighing the pros and cons between these two lenders boils down to the borrower’s needs and how creditworthy they’re deemed to be. Upstart offers a far greater range of loans than Proper does, but, generally speaking, Prosper charges lower fees than Upstart. Prosper also offers lower APRs for highly qualified individuals, but charges higher maximum APRs for riskier borrowers. Overall, Upstart offers better rates and loan terms than Prosper, plus it has a better reputation according to each of the companies’ customers.
» MORE: Prosper Personal Loan Review
If you’re considering applying for a loan in order to consolidate credit card debt, Upstart offers a number of attractive features including rates up to 30% lower than other lenders. Borrowers can leverage Upstart debt consolidation with loans ranging from $1,000 to $50,000 and an APR as low as 8.16%. Terms are available on either a three- or five-year basis, and, with Upstart, there’s never any penalty for prepayment.
Applying for a personal loan from Upstart is easy and won’t negatively affect your credit score.
The prime rate forecast for 2026 is one of the most closely watched financial data points of the year — and for good reason. Every
The SBA 7(a) loan is the gold standard of small business financing for a reason. Backed by the U.S. Small Business Administration, these loans offer
If you have a credit card, a mortgage, a personal loan, or any kind of variable-rate debt, the prime rate is quietly shaping how much
Every time the Federal Reserve adjusts interest rates, financial headlines light up with talk about the prime rate. But what does that actually mean for
If you have spent any time reading about interest rates, you have probably seen three terms used almost interchangeably: the prime rate, the federal funds
The prime rate has been the backbone of American consumer lending for the better part of a century. Today it sits at 6.75 percent. In