How Long Does It Take to Get Your Loan from Upgrade?

When you apply for a loan through Upgrade, you might wonder how long it will take to receive your funds. Understanding the process and timeframe is crucial to managing your finances effectively and planning accordingly. This comprehensive guide will walk you through the stages of obtaining a loan from Upgrade, from application to disbursement.

Application Review: Once you submit your application, Upgrade typically processes it within one to two business days. During this time, the company reviews your credit history, income, and other relevant financial details. The speed of this process can vary depending on the completeness of your application and the volume of applications being processed.

Approval Process: After the initial review, Upgrade will determine your loan approval status. This step can take up to five business days, depending on various factors such as the complexity of your financial situation and the need for additional documentation.

Verification: Once approved, Upgrade may require additional verification of your documents. This step usually takes one to three business days. If there are any issues or if further documentation is needed, this timeframe may extend.

Loan Disbursement: After all verification processes are complete, Upgrade will disburse your loan funds. The disbursement typically occurs within one to three business days from the completion of the verification process. However, the exact timeframe may vary based on your bank's processing times.

Factors Influencing Timing: Several factors can influence how long it takes to receive your loan from Upgrade, including:

• Application Completeness: Incomplete or inaccurate information can delay the process.
• Verification Requirements: Additional documentation or verification steps may extend the timeframe.
• Bank Processing Times: Your bank's processing times can affect how quickly you receive the funds.

By understanding these steps and factors, you can better manage your expectations and plan accordingly. Keep in mind that while Upgrade aims to process and disburse loans quickly, some variability in timing is always possible.