Upgrade Partnership with Banks
Upgrade has been an industry leader in financial institution partnerships, with a long pedigree in the marketplace lending space.
We have generated $3+B in loans in the last 3 years and a significant number of our loans are purchased by banks.
Banks can partner with Upgrade to purchase any of Upgrade’s facilitated loans including personal loans, cards or auto refi loans. We also offer opportunities for Banks to receive well-diversified, low-cost deposits through a partnership with Upgrade.
Opportunity for Banks
- Attractive yielding asset for prime unsecured customers
- Cross-marketing opportunities to customers
- Custom credit criteria
- Nationwide or in geo-targeted footprint
- Upgrade can sweep customer deposits to loan buying partners to provide an attractive low cost of funds
- Easy integration and comprehensive diligence materials, average onboarding timeline ~35 days
- Co-branded offering
- Buy what you want, when you want it and stop at any time.
- Purchases available via participations or whole loans
Term: 3 and 5 year
Wtd. Avg FICO*: 715
Wtd. Avg Income: $109,286
Purpose CC /Dbt Cons: 80%
Purpose Home Improv / Large purchase: 10%
% LTV: NA
% Homeowners: 68%
Term: 2, 3 and 5 year
Wtd. Avg FICO*: 689
Wtd. Avg Income: $103,245
Purpose CC /Dbt Cons: N/A
Purpose Home Improv / Large purchase: N/A
% LTV: NA
% Homeowners: 59%
Term: 3-7 year
Wtd. Avg FICO*: 712
Wtd. Avg Income: $108,500
Purpose CC /Dbt Cons: N/A
Purpose Home Improv / Large purchase: N/A
% LTV: 120%
% Homeowners: 70%
* Minimum 660+ FICO. Upgrade extends loans below 660 FICO which are typically sold to institutional investors. If you are interested, Upgrade can also offer below 660 FICO loans to your financial institution.
Bank Webinars
For more information, contact us at investor@upgrade.com