Upstart obtains $200 million revolving credit line from MUFG to fund new bank launch
Upstart Holdings arranged a senior secured revolving credit facility of $200 million, led by MUFG Bank, to provide capital for the creation of Upstart Bank. The facility carries interest at Term SOFR + 3.00% and is secured by Upstart’s assets, excluding the new bank, and will end when repaid or after 364 days. The company also reported Q2 revenue of $365 million, up 42% year‑over‑year, and earnings of $0.16 per share.
Why it matters
The credit line gives Upstart the funding needed to launch its own bank, potentially expanding its revenue base. The strong Q2 results suggest the business is regaining profitability, which may influence investor sentiment ahead of the Q3 earnings release on November 3.
Key facts
- 1Upstart secured a $200 million senior secured revolving credit facility with MUFG Bank. tradingview.com
- 2The facility bears interest at Term SOFR + 3.00% and is secured by Upstart’s assets, excluding Upstart Bank. tradingview.com
- 3The credit line will terminate upon repayment or within 364 days. tradingview.com
- 4Q2 revenue rose 42% to $365 million. finance.yahoo.com
- 5Upstart earned $16.5 million in Q2, or $0.16 per share. finance.yahoo.com
- 6Q3 results are scheduled for November 3, 2026. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.