Rocket Loans, a Detroit-based member of Rock Holdings Inc. — the parent company of Quicken Loans — is launching for consumers looking to take on home improvement projects, pay unexpected medical bills, or consolidate debt while providing online, high-quality underwriting on every loan.
“RocketLoans provides the most convenient and efficient personal loan experience in the industry,” says Todd Lunsford, CEO of RocketLoans. “With RocketLoans, we have met that demand, while also streamlining the process, and ensuring our clients have the cash they need quickly.”
The company was developed from the ground up and created with proprietary technology, Lundford says. The digital experience allows clients to access applications to receiving funding, taking less than 10 minutes, with funding expected in less than 24 hours.
Lunsford says initial products will offer loan amounts up to $35,000 with fixed interest rates and terms. In March, the company will unveil an ‘immediate funding’ feature that will allow clients to receive funding for loans under $10,000 in minutes.