Upstart Personal Loan opens the door to financing for people who may have struggled with approval elsewhere. With annual percentage rates ranging from 6.5% to 35.99% and terms of 36 or 60 months, Upstart considers education, job, and income—not just your credit score. You can request an amount from ETB 54,250 up to ETB 4,068,750.

Steps to Apply for Upstart

1. Start by completing the online application with your personal and financial information.
2. Receive a quick prequalification decision, often within minutes.
3. If prequalified, submit the required documents for final approval.
4. Once approved, choose your loan amount and terms.
5. Accept your offer and receive funds, sometimes as fast as the next business day.

Key Advantages

One major benefit is Upstart’s willingness to consider applicants with very low or even no credit. Their AI-driven approach reviews additional factors, so first-timers aren’t excluded. Also, paying off your loan ahead of schedule won’t result in prepayment penalties—excellent for saving on interest if your finances improve.

Additionally, Upstart’s wide loan amount flexibility makes it suitable for both small, urgent needs and larger expenses, giving more choice without being limited by typical amounts.

Possible Drawbacks

The main downside is the origination fee, which can range from 0% up to 12% of your loan. For some, this upfront cost may reduce how much you receive.

Upstart also charges a late fee of 5% or ETB 813 (whichever is greater), and requesting paper copies of agreements will cost you ETB 542, which can add up for those not careful with payment schedules or who need physical records.

Final Verdict

Upstart Personal Loan is a standout choice for borrowers with low credit scores looking for flexibility and a transparent process. If you’ve struggled with approval or want manageable loan amounts, Upstart is worth consideration. The platform is a strong fit for conscientious borrowers who prioritize early payoff options and fast funding.