Upstart Review

By Kevin Mercadante​

Service Profile

Loans from Upstart can be used for any purpose, from debt consolidation to business start-up. You can borrow between $3,000 and $25,000 and in most cases; you can receive your money the very next day. You won’t find any prepayment penalties and APR can be as low as 5.7%, on average up to 30% lower than other lenders. You can check your rate in just 2 minutes through Upstart.


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Business Loan Features

  • Approval within 1-2 days
  • Funding paid next day
  • No prepayment penalties
  • No teaser rates or hidden fees
  • Up to 36 months repayment length
  • $5,000 to $25,000 limit
  • 5.7% - 29.99% APR
  • 640 minimum credit score

Loan Application Information and Requirements

You can expect the standard qualifying criteria before Upstart will accept an application from you; being 18 years of age, a U.S citizen and living in a state where such loans are not illegal. As for the information that you have to provide, it’s a little more in-depth than competing lenders because of the more considered approach to decision-making.

You will be asked what the loan is for, your highest level of education (including school, subject and scores), employment, salary, mortgage rate, savings and dependent. The information you’re asked for depends on your type of loan, the above is for a business loan.

The application procedure has guaranteed privacy, with the entire website protected by full GlobalSign SSL. Upstart also explicitly states that it will never sell the data entered on its website.

Repayment Terms

Repayment for a business loan generally begins around 20 – 30 days after the funding has been paid. You then have up to 36 months to make these repayments, on your own individual APR which can start at 5.7%. There are some other rates and fees to consider, including an origination fee which can be up to 6% of the loan amount. Expect late payment fees of 5% and processing fees of $15 if you pay by check.

Help & Support

Upstart can be reached via local and toll-free contact lines, along with post, e-mail and online contact form. The may be able to solve your own queries on the website itself, through the FAQ and Help Center. For queries that we had in researching, we contacted Upstart via e-mail and got a prompt reply that answered all of our questions succinctly.


There aren’t many lenders like Upstart and for thousands of people in the U.S, this provider could represent a life-changing opportunity. Offering business loans with low APR, flexible repayments and a more considered decision-making process; Upstart represents a positive shift in lending changes that we hope will be a ripple in the pond.

However, don’t be fooled into thinking that your credit score has no impact at all. It will always matter with a reputable lender, but Upstart makes a more-than-welcome effort to go beyond labelling its customers with a number.

Company Profile

Sacrificing the traditional loan signals like FICO score, Upstart makes lending decisions based on academic performance, work history and more. Offering business loans alongside personal loans, Upstart prides itself on making informed decisions based on the person or company – not their past.

Founded by a collection of experts from Google in 2012, including the President of Google Enterprise, the Upstart team is constantly growing in both employees and investors. Praised by publications including Forbes and Fox Business, Upstart has quickly established itself as one of most progressive and successful young lenders.

Physical Address

Upstart Network

Inc., P.O. Box 61203

Palo Alto, CA 94306


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