How do I apply for a personal loan through Upstart?

To apply for a personal loan through Upstart, first check for pre-qualification, and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for a Personal Loan Through Upstart

1. Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before you officially apply for a personal loan through Upstart. It doesn't hurt your credit. You can check for pre-qualification on the Upstart website.
2. Enter your personal information on the application. Upstart requires the following personal information on the application: the loan amount, loan purpose, your name, date of birth, home address, email address, phone number and academic history.
3. Enter your financial information on the application. Upstart requires the following financial information on the application: your work history and annual income.
4. Double check the application for accuracy. To ensure that your application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
5. Submit your application. Most applicants are approved instantly.

If you are approved for a personal loan through Upstart, you can receive the funds as soon as one business day after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.

When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.

Although educational information is collected as part of Upstart's rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.

The majority of borrowers on the Upstart marketplace are able to receive an instant decision upon submitting a completed application, without providing additional supporting documents, however final approval is conditioned upon passing the hard credit inquiry. Loan processing may be subject to longer wait times if additional documentation is required for review.

If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. When the funds will be available to you will depend on your bank’s transaction processing time and policies.