Is Upstart a direct lender for personal loans? This question is about Upstart

No, Upstart is not a direct lender, so they do not handle the full loan process. Instead, Upstart will consider your loan application and decide if you're approved, then one of their partners will actually fund the loan. You will still make your monthly payments through Upstart, though. Upstart Lending Partners Customers Bank Apple Bank Patelco Credit Union First National Bank of Omaha Oriental Bank Telhio Credit Union First Federal Bank of Kansas City Ridgewood Savings Bank Midwest BankCentre Drummond Community Bank Kemba Financial Credit Union Associated Bank If you're interested in borrowing from a direct lender, you may want to look into Marcus by Goldman Sachs or LightStream . You can use WalletHub's free pre-qualification tool to see which lenders may approve you and what rates may be available to you.

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Is Upstart a direct lender for personal loans?

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This question is about Upstart

Grace Enfield, Content Writer

@grace_enfield • 12/09/21 This answer was first published on 12/09/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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No, Upstart is not a direct lender, so they do not handle the full loan process. Instead, Upstart will consider your loan application and decide if you're approved, then one of their partners will actually fund the loan. You will still make your monthly payments through Upstart, though.

If you're interested in borrowing from a direct lender, you may want to look into Marcus by Goldman Sachs or LightStream. You can use WalletHub's free pre-qualification tool to see which lenders may approve you and what rates may be available to you.

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How to Get Upstart Personal Loan Pre-approval… read full answer

Go to the Upstart website.

Click on CHECK YOUR RATE.

Enter the loan amount, loan purpose, your name, date of birth, home address, email address, phone number, and more.

Click Find my loan options.

Once you receive your Upstart pre-approval status, you can choose whether or not to actually submit an application. Getting pre-approved does not mean you’re guaranteed to be approved if you apply, but your approval odds will be very high.

If you want to consider more options first, you can try out WalletHub’s free personal loan pre-approval tool, which checks for pre-approval with multiple personal loan providers at the same time.

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Is Upstart legit?

Yes, Upstart personal loans are legit because Upstart is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Upstart personal loans are legit is that the lender has a rating of B from the Better Business Bureau.

… read full answer

Why Upstart Personal Loans Are Legit

Upstart is registered as a business in the states it services.

Upstart has a Better Business Bureau rating of B.

Upstart has been around since 2012.

Upstart has an average user rating of 4.2/5 on WalletHub.

Upstart personal loans have a rating of 3.5/5 from WalletHub's editors.

Upstart has a secure website, which you can tell by the fact that the URL has "https" in front of it.

While Upstart personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of Upstart personal loans against your other options before submitting an application.

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How do I apply for an Upstart personal loan?

To apply for an Upstart personal loan, 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 an Upstart Personal Loan

Check for pre-qualification.… read full answer Pre-qualification is a way to check your approval odds and potential rates before applying for an Upstart personal loan. It doesn't hurt your credit. You can check for pre-qualification on the Upstart website or WalletHub's pre-qualification tool.

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.

Enter your financial information on the application. Upstart requires the following financial information on the application: your work history and annual income.

Double check the application for accuracy. To ensure that your Upstart personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.

Submit your application. Upstart will typically provide a decision on your application within 1 to 14 business days.

If you are approved for an Upstart personal loan, you will generally receive the funds within 1 to 3 business days after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.

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