The verification process for getting approved for a loan through Upstart centers around presenting valid proof of income, and you must have a minimum annual income of $12,000 to get approved for a loan. This measure ensures that you can make your monthly repayments and, at the same time, take care of other personal financial obligations. It means that if your income falls short of this mandatory requirement, you are unlikely to get approved.
Upstart is a pioneering AI (Artificial Intelligence) lending platform that matches borrowers with partner lenders based on specific attributes. Upstart partner lenders accept personal loan requests ranging from $1,000 to $50,000.
Loan Verification Process At Upstart
Getting a personal loan from Upstart involves submitting your details through their website. In general, you must be at least 18 years old and a US resident or citizen to qualify for a loan service in the US. In addition to these standard requirements, specific lenders often have particular requirements.
If you are looking for loan services from Upstart, here's a comprehensive list of their requirements:
- Confirmed proof of employment with an annual income of not less than $12,000. Retirement and disability income may be considered so long as they meet this minimum requirement.
- No delinquent accounts
- No accounts under collection processes
- No recorded bankruptcies
After meeting all the requirements, all you need to do is to submit your loan application along with all the required documents through the online submission portal at Upstart. Then you should be receiving offers soon and get funded in no more than 3 business days.
Upstart Loan Alternatives
Unable to meet up with the requirements of Upstart? No need to fret. You can check out iPaydayLoans, WeLoans, CashAdvance, US Bad Credit Loans, and US Installment loans to access great lenders with less stringent requirements.
Here are the simple steps to get reliable loan services through these online loan brokers:
- Perform regular self-checks. You should check your financial status frequently to be sure you have a fair credit score and adequate repayment capacity to access loans with better terms.
- Submit your information through their online forms and connect to their network of partner lenders.
- Your details will be made available to lenders who will review them and reach a credit decision in minutes.
- You may then receive multiple offers from different lenders. Make your choice after thoroughly comparing the different APRs, terms, and fees.
- Sign the loan agreement and expect to get funded as soon as the next business day.