Yes, personal loans go to underwriters, although the underwriting process is often automated as opposed to being handled by a human underwriter. For example, more than 80% of Upstart’s personal loans are fully automated² from application through funding.
²As of 3/31/23. Fully Automated metric is calculated on a quarterly basis. Fully automated loans are defined as loans originated end-to-end (from initial rate request to final funding) with no human involvement.
Are credit cards or personal loans worse for credit?
