Where does Laurel Road do business?

Laurel Road is based in Bridgeport, CT. It was founded in 2006 and offers access to personal loans in 50 states (and Washington, DC).

What range of rates does Laurel Road offer?

Laurel Road offers personal loans with APRs starting at 5.5% and up to 11.74%.

Does Laurel Road charge an origination fee?

No, Laurel Road does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees. 

Does Laurel Road charge a late fee?

Yes, Laurel Road may charge borrowers a late payment fee of up to $28, which is triggered if you're 15 days late.

Does Laurel Road charge prepayment fees?

No, Laurel Road does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Laurel Road?

Loan amounts start at $5,000 and go up to $45,000.

What is the maximum loan term for a Laurel Road personal loan?

Laurel Road offers personal loans with a maximum term of 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with Laurel Road?

Active duty servicemembers and their covered dependents are eligible to apply for a loan via Laurel Road. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Applicants must have an active and valid checking account
  • Recent pay stubs

What is the estimated funding time for a personal loan via Laurel Road?

Laurel Road will typically approve (or deny) a loan application within 24 hours and fund personal loans as soon as 1 business day of approval.

Does Laurel Road report loan payments to credit bureaus?

Laurel Road reports credit data to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

How does Laurel Road describe itself?

We understand that the road to financial freedom isn’t an easy one to travel, and we believe that determined and driven individuals should be rewarded with financial products that help them stay focused on the road ahead. We provide carefully crafted loans with low rates, personalized service, and streamlined processes enabled by proprietary technology, to make the journey to financial independence just a bit easier. Laurel Road can help you leave debt behind, so you can stay focused on the ro

  • Max Loan Term (Months)
  • Institution Type
  • Bank Account Required?
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Joint Loan Applications Accepted
    • Co-borrower
    • Co-signer
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Supported Income Types
    • 1099 Misc. Income
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • Verification Documents Required?
    • Recent Pay Stubs
    • Driver License (or other photo ID)
  • Late Fee After (number of days)
  • Late Fee Amount
  • No Origination Fee
  • No Prepayment Fee
  • Approval Speed (Hours)
  • Funding Time Range (in days)
    1 - 3
  • Payment Options
    • Automatic Payments
    • Check by mail
  • Credit Bureau Reporting
    • Equifax
    • Experian
    • TransUnion
  • Loan Amount
    $5000 - $45000
  • APR
    5.5% - 11.74%
AUTOMATIC PAYMENT Authorizing the loan servicer or lender to automatically deduct monthly payments from a bank of your choice. Borrowers receive a 0.25% rate discount if they pay via Automatic Payment. APR is defined as Annual Percentage Rate. FIXED APR – Standard Personal Loan Loans are available in terms ranging from 3 to 5 years, and with APRs ranging from 5.75% for a 3 year loan to 11.99% for a 5 year loan. PAYMENT EXAMPLES Monthly payments can range from $196.83 to $327.34 for a $10,0
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