Upstart is an online lending platform that finances people based on signals of their potential including work history, academic performance, the area of study, etc. The platform offers lower interest rates, no prepayment penalty, quick and easy, and secure process. It provides 3-year fixed interest loans. Funds can be used for almost anything, including paying for a coding boot camp, starting a business, eliminating student debt, or even paying off credit cards and medical bills.
Top UpStart Alternatives
- Lending Club
- Funding Circle
Top UpStart Alternatives and Overview
Credible is the multi-place market lender that allows borrowers to receive competitive loan offers from its vetted partners.
Prosper is a marketplace that provides person-to-person lending utilizing a listing and bidding process to get competitive rates for loans.
Lending Club is the online credit marketplace, facilitating business loans, personal loans, and financing for elective medical procedures.
Sofi is a modern finance company that offers low rates for student loan refinancing, mortgages, and personal loans.
Avant is a platform that offers access to personal loans at competitive interest rates with a quick and transparent process that is entirely online.
Mintos is a peer-to-peer lending marketplace that connects investors with borrowers of various loan originators.
Driva provides you with the loan matching system that allows you to choose the right...
In order to give credit, they evaluate a person’s full education, employment, and financial...
They offer borrowers competitive low rate loans by matching them to our lenders who get...
It aims to help businesses struggling to access mainstream sources of finance while providing individual...
The platform uses data aggregation and electronic payment technology to analyze the financial health of...
For example, if you have outstanding invoices, it will advance 100% of your payment...
That includes restaurants, hotels, retailers, service providers, and mor1e...
Their technology streamlines the small business loan application process by collecting third party data...
It offers secured and unsecured personal loans...
UpStart Review and Overview
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.
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.
Company Name: Upstart Network, Inc.
Company Address: P.O. Box 1503, San Carlos, California, USA
Founded in: 2012