We ask for your individual gross income, or the annual amount of money you make before taxes and deductions. You do not need to include alimony, child support, or separate maintenance income, unless you’d like for it to be considered as a basis for repaying the amount you borrowed. Here is an example of how to calculate that figure: let’s say you are an hourly employee. Multiply your hourly pay rate by the number of hours you work in a year (2,080, if you work a 40 hour week) to find your yearly individual gross income. Once a credit decision has been made, we may request documents from you for income verification purposes. You can find your individual annual gross income on a copy of your most recent W-2 or pay stubs. If you are self-employed, you could reference your most recent tax return.
Articles in this section
- No application fees or upfront fees
- Where do I locate my 15-digit pre-approval code?
- How do I apply for a Personal Loan or a Personal Credit Line?
- Will checking my rate impact my credit score?
- Does Upgrade offer fixed or variable rates on its personal loans?
- Can I apply for another personal loan through Upgrade?
- Why would you deny me if I was pre-approved?
- What does receiving a pre-approval letter mean?
- FAQs for Self-Employed Applicants
- If I’m denied, am I able to re-apply?