Upstart: Quick Loan - Cash Advance for Android

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Loan amount: $1,000 to $50,000

Loan Terms: 3 to 5 years

APR : 8.13% - 35.99% APR

Minimum credit score: 580 (in part of the states).

Time to get funds: As soon as 1 - 3 business days

Fees:

*Origination and other fees from 0% to 8%

*No prepayment penalty

*Late fee of 5% of the past due balance or $15, whichever is greater

*$15 for and ACH Return or Check Refund Fee

Residency:

*Must be U.S. citizen or permanent resident

*Not available in West Virginia or Iowa

Loan use: Any personal expense or purchase

Key benefits:

*Available to borrowers with no credit score, or credit scores as low as 600 (in most states)

*Streamlined approval and application process

*No prepayment penalty

Best for:

*Below average or no credit

*Borrowers with strong education, work history

Fees:

Origination fee: 0.0% - 8.0%.

Late fee: 5% of past due amount or $15, whichever is greater.

Unsuccessful payment fee: $15 per occurrence.

How to qualify:

Upstart is available in all 50 states.

Minimum credit score: 580 (in part of the states).

Minimum credit history: None.

Minimum annual income: $12,000.

Must have a full-time job or offer starting in six months, a regular part-time job or another source of regular income.

No recent bankruptcy or outstanding delinquencies.

Loan example:

The average three-year loan with Upstart has an annual percentage rate of 15%, according to the company. Upstart says its model approves fair-credit borrowers at a lower rate than a traditional model.

For a borrower with fair credit, a three-year, $10,000 personal loan at 21.8% APR would have monthly payments of $381