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Personal Loan: What is the typical loan process through Upgrade?

We hope you’ll find the Upgrade process simple, straightforward, and seamless. With a personal loan through Upgrade, you can expect to:

  1. Check Your Rate: It only takes a moment to check your rate online, and viewing your offers does not impact your credit score.
  2. Choose Your Offer: Choose from amounts you qualify for—between $1,000 and $50,000— and pay it back over 24 to 84 months* with a rate that will never increase.
  3. Get Fast Funding: Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications.

During our loan review process, we may request documents from you in order to verify information, such as your income and identity. Upgrade will keep you updated throughout the application process, but we recommend you check your To-Do List regularly to keep up to date on any document requests. The faster we can verify your information, the faster a credit decision can be made!

See what our customers have to say about the loan process in these Upgrade Reviews. Why wait? Check your rate for a personal loan today.

Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.74%-35.99% and a 1.85%-9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For certain discounts, collateral may be required. Repayment terms from 24 to 84 months. For example, if you receive a $10,000 unsecured loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR and other terms of your loan may vary and you may not be presented with multiple offers. If offered, your loan terms, including your rate, will depend on credit score, credit usage history, loan amount, and other factors. Late payments or other fees, as noted in your Borrower Agreement, may increase the cost of your fixed rate loan. Certain loan offers may not be available in all states.

**After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.

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