If you currently have a loan from Upstart, in order to be eligible for another loan, you must:
Have made on-time monthly payments for the six previous consecutive months. On-time payments means that a payment was received during the 10 day grace period;
Have no more than 1 outstanding loan through Upstart at the time of application;
Have no more than $50,000 of outstanding principal at the time the loan originates.
If you have finished paying off an existing Upstart loan and made on-time monthly payments for the 6 previous consecutive months, you are able to apply for a second loan after your most recent payment clears (14 days from the payment date).
If you have finished paying off an existing Upstart loan and any of the 6 most recent monthly payments were not on time, or you paid off the loan before reaching 6 monthly payments, there is a 60 day cooling off period before reapplying.
If any payment is still processing on your existing loan, Upstart is unable to approve a new loan application. The pending payment counts as your sixth most recent payment and must process successfully before the new loan application can be approved, if all other requirements have been met.