What are Upstart loans?

Upstart loans refer to personal loans provided by Upstart, a lending platform that uses artificial intelligence and machine learning to streamline the borrowing process and evaluate the creditworthiness of applicants. Unlike traditional lenders that rely primarily on credit scores, Upstart considers a variety of factors, including education, employment history, and potential future income to assess an applicant's risk profile. This approach allows for a more nuanced evaluation and can often result in lower rates for borrowers who might not have perfect credit but are deemed financially responsible. Upstart offers loans for various purposes such as debt consolidation, home improvements, medical expenses, and major purchases, aiming to provide quick funding with user-friendly terms and repayment options.