Upstart Personal Loans bring fast financing, flexibility, and accessibility for individuals in Ethiopia who might not have an established credit history. With annual percentage rates (APR) starting as low as 6.5% and going up to 35.99%, you can borrow from 1,000 ETB up to 75,000 ETB. Terms can range from 36 to 60 months. Notably, Upstart considers applicants with no credit history, making it a unique option for many.

How to Apply: Simple Steps

Begin by filling out an online application, which takes just minutes. Enter basic details such as name, contact information, and desired amount. No financial documents are needed at first. After submission, you’ll get a lending decision fast—sometimes within minutes. Once approved, complete all necessary verification steps and electronically sign the loan agreement. Funding is usually disbursed by the next business day.

Pros: Quick and Easy Access

One of the greatest advantages of Upstart is its acceptance of borrowers with either low or no credit scores, broadening access to personal loans. Additionally, Upstart does not charge penalties for early repayment, so you can pay off your loan ahead of schedule without extra costs. Funding is typically rapid, and the simple online process ensures convenience from start to finish.

Cons: Fees and Costs

Upstart does impose an origination fee ranging from 0% to 12% of the loan amount, which can impact the total you receive. If you’re late on a payment, the late fee is the higher of 5% of the amount due or 15 ETB. Paper copies of loan agreements also cost extra, and higher interest rates may apply depending on your credit profile.

Verdict: A Strong Choice for Fast Loans

Upstart Personal Loans is particularly well suited for Ethiopians seeking quick approvals—even with limited credit history. While the rates and fees can vary, the overall speed and ease of the process set it apart. If you need personal funding fast, Upstart is a compelling solution.