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Laurel Road

in Personal Loans

Unaffiliated Visit Site Find My Best Rate

Laurel Road

Unaffiliated

in Personal Loans

SuperMoney Net Recommendation Score -100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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Overview

Where does Laurel Road do business?

Laurel Road is a bank based in Bridgeport, CT. Founded in 2006, Laurel Road offers access to personal loans in 50 states (and Washington, DC).

What are the APRs offered via Laurel Road?

Laurel Road has a variable APR that ranges from 5.5% 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 via Laurel Road?

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

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

Laurel Road doesn’t disclose its credit score minimum.

Laurel Road only considers borrowers who are employed

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 within 3 business days of approval.

Does Laurel Road report loan payments to credit bureaus?

Laurel Road may report credit data to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

LAUREL ROAD Disclosure: 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
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  • 855 Main St
    Bridgeport, CT 06604 USA
  • Visit Site

Message from Laurel Road

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

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
Late Fee After (number of days)
15
Late Fee Amount
$28
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
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Bank Account Required?
Verification Documents Required
  • Recent Pay Stubs
  • Driver License (or other photo ID)
Loan Amount
$5K - $45K
$100 $100K+
APR
()
5.5% - 11.74%
4% 100%+

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