Overview
Upstart partners with banks and credit unions to provide consumers access to personal loans, auto loans, and other financial products. While Upstart’s platform facilitates the loan application and servicing process, all loans are originated by one of our trusted lending partners.
How the Upstart Platform Works
When you apply for a loan through Upstart, our platform evaluates your application using AI-driven models to assess creditworthiness. If you qualify, your loan is funded by one of our partner banks or credit unions.
Key Steps in the Loan Process
- Application Submission – You complete your loan application on Upstart’s platform.
- Loan Evaluation – Our AI-powered model assesses eligibility based on various factors, including credit history, employment, and financial details.
- Lender Matching – If approved, your loan is originated by a bank or credit union that partners with Upstart.
- Loan Servicing – Depending on the loan type and lender, payments may be managed either by Upstart or directly by your lending partner.
Why Does Upstart Partner with Banks and Credit Unions?
By working with multiple lenders, Upstart is able to:
✔ Expand access to credit – Providing loan offers to a wider range of borrowers.
✔ Offer competitive rates – Each lender sets its own terms, helping you find an option that fits your needs.
✔ Enhance efficiency – Upstart’s AI-powered model allows for faster application reviews and instant decisions.
Who Is My Lender?
Once your loan is approved, your lender’s name will be included in:
✔ Your loan agreement
✔ Your My Account dashboard
If you need to contact your lender, refer to the Contact Us section of your account, where you’ll find the correct customer support details based on your loan.
📌 Related Articles:
- How to Reach Your Loan Provider or Lending Partner
- Loan Eligibility: How to Determine If You Qualify
- Understanding Loan Terms: APR, Principal, and Interest Explained