Laurel Road Personal Loan Review
pros and cons
requirements
While loan eligibility will depend on factors such as your financial health and credit history,
How to get a personal loan with
Prequalify for a loan
You’ll provide basic information, including your employment history, and authorize a soft credit pull to receive conditional interest rates on a possible loan.
Verify your information
After prequalification, you must upload some supporting documents and finish your application. You’ll take a hard credit check, and will give you specific loan rates and terms.
Sign for your loan
You can choose your loan, then e-sign any disclosures and the promissory note. If your loan is approved, it will likely be funded within seven business days.
How compares to other personal loan companies
Even though
| LightStream | LightStream | ||
|---|---|---|---|
| LendingTree’s rating | 3.4/5 | 3.9/5 | 3.7/5 |
| Minimum credit score | Not specified | Not specified | |
| APRs | (with autopay) | 7.99% – 24.99% | 6.49% – 25.29%(with autopay) |
| Loan amounts | $2,500 to $40,000 | $5,000 to $100,000 | |
| Repayment terms | months | 36 to 84 months | 24 to 84 months |
| Origination fee | None | None | None |
| Funding timeline | Most loans funded in around seven business days, but you can get money as soon as the next day | Get money as soon as the next day | Get money as soon as the same day |
| Bottom line | has competitive rates and doesn’t charge origination fees. But competitors Discover and LightStream offer lower starting rates and longer repayment terms. | If you’re looking for a small loan, LightStream lets you borrow as little as $2,500. That said, you’ll need good credit to qualify. | LightStream has a wide range of loan terms and the lowest starting rates. It’s a good fit for borrowers who need fast funding and a large loan. |
How we rated
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
No, Laurel Road doesn’t charge origination fees for personal loans.
Yes, doctors and residents may be able to borrow higher amounts and for different terms than other people with Laurel Road personal loans.
It can take Laurel Road around seven days to approve and fund your loan. Once your loan is approved, Laurel Road will deposit your funds in about 24 hours.
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