Top Upstart Alternatives

Upstart is an online finance company that provides different types of loans such as personal loans, wedding loans, moving loans and other services such as credit card consolidation and debt consolidation. Money is important for both business growth as well as an individual’s growth in life.

However, availing credit isn’t an easy task and availing prime credit is even more difficult. According to a study 83%, Americans have never defaulted loan payment and yet only 45% of them have access to prime credit. There definitely are gaps in the lending model which Upstart is trying to fill using its AI-based lending platform.

The process of availing loans

The process of availing loans is also fairly simple and intuitive. It consists of three steps. The users are asked to answer a few questions related to their education and employment. Based on the responses the application is approved and then the users are briefed about the terms of the loan.

At this step, they also have the option to review their application once again. Once they approve it, the platform further asks them to set up automated monthly payments. One of the major advantages of availing loans from upstart is that they don’t charge fees for the prepayment of loans.

Benefits of using Upstart

Upstart offers loans at much lower interest rates compared to credit card lending rates, provides fast and easy processing and offers all this in a highly secure environment. In addition to lending services for personal use, Upstart also provides credit card consolidation loans to help people get out of debt faster. Once they avail the loan they can use that money to pay off the credit card debt and keep repaying the consolidation loan which is offered at a much lower interest rate.

Additional services

In addition to the services offered Upstart also offers some tools like the rate calculator where users can check their credit rate without it affecting their credit score. Overall, Upstart makes for a great tool in helping users avail the credit they truly deserve and empower them to chase their dreams and aspirations.