In a nutshell: Upgrade provides a platform for borrowers to quickly apply for a loan up to $50,000. Repayment terms range from 3 to 5 years with APRs between 6.99% to 35.79%*. After finalizing the loan, the funds will be transferred directly into your account within just one day. Customers can also use the free credit monitoring app.



Whether you are looking to pay off debt or just in need of some fast cash, personal loans are available through Upgrade for any amount between $1,000 to $50,000. The application takes minutes to fill in and Upgrade will respond to your query within minutes.

Co-founders of LendingClub, Renaud Laplanche and Soul Htite, founded Upgrade in 2016. Upgrade has features like free credit monitoring and financial education resources. Upgrade’s free credit monitoring service available through their website gives users a credit score summary, insights, and recommendations. Their weekly updates and email alerts help stay informed on how to make better decisions affecting your credit.




In order to qualify, applicants must have a monthly free cash flow of at least $1,000. That refers to the amount available after monthly expenses so some applicants may not qualify. Applicants should also have a minimum credit score of 620. However, self-employed applicants may face some hefty red tape and require extra documentation in order to receive a loan.



Loan Process

The loan application process won't take very long and won’t require you to even leave your home. The website contains a simple application that doesn’t affect your credit score. The application will request some basic information from any prospective borrower including their name, address, monthly income, and social security number. In just a few minutes, Upgrade will let you know if you are approved for a loan.

If approved, customers can browse through the different offers before choosing the most suitable loan. Once you have accepted the loan, the money will be transferred into your bank within one day of clearing necessary verification. Altogether the entire process from applying to receiving the funds can take about four days.



Loan Terms

Upgrade's fixed-rate personal loans range between $1,000 up to $50,000. Borrowers can use their loan for a variety of personal reasons including to pay off credit cards, debt consolidation, home improvements, or perhaps for making a large purchase. Borrowers can shop around for loans with repayment terms ranging between 3 to 5 years. Terms vary from person to person. Keep in mind that you are required to pay an origination fee.



Customer Support

Upgrade has a wealth of free resources available on its website. The Credit Health software provides free credit tracking and guidance on how to improve your score. Upgrade’s social media pages on Facebook and Twitter feature posts discussing financial tips and credit advice. Customers can also get in touch with support directly via email.


* Loans made through Upgrade feature APRs of 6.99% - 35.97%. All loans have a 1.5% to 6% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay. For example, if you receive a $10,000 loan with a 36 month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your bank account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. All loans made by WebBank, member FDIC.

Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days. All loans made by WebBank, member FDIC.




  • Quick online application
  • Many online resources
  • Origination fee of 1.5% to 6%
  • Minimum credit score of 620
Personal loans between $1,000 to $50,000 and free credit monitoring software.


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Joe Schwartz

Personal Loans Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.