Laurel Road is based in Bridgeport, CT. It was founded in 2006 and offers access to personal loans in 50 states (and Washington, DC).
Laurel Road offers personal loans with APRs starting at 5.5% and up to 11.74%.
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.
Yes, Laurel Road may charge borrowers a late payment fee of up to $28, which is triggered if you're 15 days late.
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.
Loan amounts start at $5,000 and go up to $45,000.
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.
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:
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.
Laurel Road reports credit data to the following credit reporting agencies:
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
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