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Upstart is a company that is dedicated to helping people get the credit they need, even if their credit score isn’t the best. They look at 1600+ data points for each application to determine whether they approve a loan, and at what terms. 

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<h2>Company Profile</h2><p>The credit score is just one aspect of their process, which allows them to approve 27% more loans than most traditional lenders.  The company was founded by people with a background in tech industry. This experience prompted them to harness the power of artificial intelligence technologies to help improve their lending programs. This has allowed them to approve far more loans without absorbing significantly more risk, which means they can issue these loans at lower interest rates than would be available from most other companies.</p><h2><strong>Application Process</strong></h2><p>The application process for this company is extremely fast and easy. They really make a point to market themselves as one of the fastest options for applying for credit, and getting it once approved. To start off, you simply fill out some basic information about yourself and the loan you are applying for. They will then run your information through their proprietary system to determine what loans you would qualify for and at what rates. This initial rate check only uses a soft credit check so it will not hurt your credit score.</p><h3><strong>Loan Types and Terms</strong></h3><p>You can apply for just about any type of loan that you might want through Upstart. When applying, they do ask you what the money will be used for, and give you options such as paying off credit cards, getting a car, paying for education, medical bills, relocation, refinancing, vacation, and other large purchases.</p><p>The loan amounts can range from $1000 up to $50,000. This means you generally won’t be able to use them for a mortgage, but just about any other type of loan will work fine. Their loans last either three or five years depending on a number of factors and your personal situation. You will find that the interest rates can range from 8.27% to 35.99%. In most cases, the rates are somewhere in the upper teens, but they are customized based on your unique information.</p><p>When you are given your loan offer, make sure to look closely at the terms. Some of the financial institutions that partner with Upstart do charge an origination fee, which can be fairly expensive. This fee is worked into your loan, so it is easy to miss if you are not paying attention. While origination fees are very common in this industry, you can save a lot of money by avoiding them whenever possible.</p><h2><strong>Repayment Options</strong></h2><p>Once your loan is in place, you will be given specific instructions on how to make your payments. You can use recurring ACH payments, manual ACH payments, or send a check in each month. They so expect a payment to come in each month as agreed upon. The payment will be made to the bank that is partnered with Upstart.</p><p>One really important thing is that they do not have any type of early payment penalties. If you want to save money, you can pay a little bit extra each month to pay the loan off earlier, saving significantly on interest. If you come up with some extra money, you can put a lump sum onto the balance of the loan to cut down on the interest you will end up paying. If you have the cash, you can even pay off your loan entirely as soon as you want without any penalties or fines.</p><h2><strong>Customer Service</strong></h2><p>The customer service department at Upstart is staffed 7 days a week, but only from 6AM to 5PM Pacific Time. You can get in touch with them on many holidays, but not New Year’s Day, Thanksgiving day, Christmas Eve, or Christmas day. They can be reached via phone or email, and you can also reach out to them through standard US postal service. Once you get in touch with a representative, you will find that they are very knowledgeable and more than happy to help you with anything you need. Unlike many lenders, they will provide you with support and service even after the loan has been made.</p><p>If you don’t want to speak with a live customer service professional, you can find answers to most of your questions by visiting the help section on their website. This section lists various categories that you may need information on, and then specific questions within those categories. This is a fast and easy way to get the information you need at any time.</p><h2><strong>Rates</strong></h2><p>As mentioned above, the interest rates that you have to pay on your loan will range from 8.27% to 35.99% APY. For those with higher credit scores, larger incomes, and other positive things going for them, the rate will be on the lower end. For those who are higher risk, the rate will be higher.</p><p>Thanks to the fact that Upstart looks at much more than just your credit score, however, many people find that their rates are lower through this company than with other lenders. This is especially true for people who have lower credit scores, but either a higher income or no history of defaulting on their payments.</p><h2><strong>Summary</strong></h2><p>Anyone who is looking to get a loan and has less than perfect credit will want to at least fill out an application with Upstart. This company really does process their loans differently than most other lenders, and that results in many people being able to get lower interest rates once approved. This lender is also able to approve many people who got denied by other companies, so it makes sense to at least fill out the application and see how it goes. Upstart is a trustworthy loan company that offers their customers great support, which really helps to set them apart.</p>