What you need to know about a Progressive personal loan (Upstart loan)
Progressive is a major insurance company that sells more than 30 insurance products, including auto, home and RV insurance. On its site, Progressive also markets unsecured personal loans, which are loans that don’t require collateral.
Progressive is not a direct lender
Note that Progressive doesn’t handle or issue personal loans itself. Instead, its site connects you with Upstart, a third-party lender that services loans.
Who is a Progressive loan (Upstart loan) good for?
Progressive connects consumers to Upstart on its site. Because most customers receive their loan funds from Upstart within one business day of accepting their loan terms, this lender could be a good option if you need money quickly.
Upstart can also be a good fit if you have less-than-perfect credit, since it considers applicants with poor credit and weighs other factors in your financial health when determining approval and annual percentage rates.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.