however, Upstart doesn’t offer joint, co-signed or secured loans. The online lending platform also has only two repayment term options.
Upstart uses a nontraditional underwriting method to help more borrowers qualify and get a low rate, even with imperfect credit.
Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases
EST. APR 5.42-35.99%
LOAN TERM 3 to 5 year
LOAN AMOUNT $1,000-$50,000
MIN. CREDIT SCORE None
Alternative data use: Many personal loan lenders review primarily credit and income information to make an application decision,
like college education, job history and residence — to qualify borrowers. More traditional lenders, like banks, focus almost exclusively on a borrower's credit report, debts, income and assets.
but Upstart includes details like college major and work history in borrower evaluations. The lending platform says its nontraditional underwriting model helps approve more