Best Loans for Bad Credit in 2025-Upgrade Personal Loan

Upgrading could be a great choice for individuals with low credit scores seeking fast funding and desiring flexible loan repayment terms.

Upgrade Personal Loan Review

Upgrade is a lending platform that provides personal loans between $1,000 and $50,000. These loans are issued through Upgrade’s lending partners.

Quick funding: After a borrower signs their loan agreement, Upgrade can disburse loan funds within one business day.

Rate discount: Customers of Upgrade may be eligible for a discount on their interest rate if they enroll in autopay and opt to use their loan funds to pay off existing debt directly.

Low minimum credit score: With a minimum credit score requirement of just 580, Upgrade could be a suitable option for those with lower credit scores.

High origination fee: Upgrade imposes an origination fee ranging from 1.85% to 9.99%, which is deducted from the total loan amount. This maximum fee is higher than what some competitors charge, and there are lenders who do not charge this fee at all.

Offers joint applications: To potentially secure a lower annual percentage rate (APR) with Upgrade, you have the option to submit a joint application.

Flexible repayment terms: While many personal loan providers offer repayment terms of up to 60 months, Upgrade allows customers to qualify for terms ranging from 24 to 84 months.

Best for consolidating high-interest debt: If you are dealing with high-interest debts, like a payday loan, you might qualify for lower rates with an Upgrade debt consolidation loan. Upgrade can also directly pay off your previous creditors.