The club started life as Loughborough Football Club in 1886 from a merger of Victoria and Athletic, the two senior sides in the town, using the latter's ground then called Bromhead or Hubbard Cricket Ground. November 1887 saw merger with the local athletics club to form Loughborough Athletic and Football Club. The club is often incorrectly referred to as Loughborough Town at this time although there is no documented evidence for the name.
The club struggled in the Second Division, never finishing higher than 12th (out of 16). In 1900 the club finished bottom of the League, conceding 100 goals in 34 games, winning only a single game and collecting only 8 points of a possible 68, arguably the worst record in the history of the League—only Doncaster Rovers have an equally low points record, set in 1904–05, but they had a somewhat better goal average. This season saw their record League defeat, 12–0 at Woolwich Arsenal; due to financial constraints the team consisted of four professionals and seven amateurs and their travelling expenses were paid for by Arsenal.
After failing to gain re-election to the League in 1900, the club applied for acceptance back into the Midland League, but failed to turn up for the fixtures meeting on 9 June. On 29 June a meeting was held when it was decided that the club was defunct.
Several clubs have since represented the town of Loughborough:
Loughborough Corinthians emerged c. 1903 and became founder members of the Leicestershire League, which they won twice before the outbreak of World War I. In 1925, after some good FA Cup runs, the team stepped up to the Midland League, where they played until their demise in 1933.
Loughborough United were formed c. 1960 and were elected to Midland League in 1961. The 1960s were a good time for the club, as they were league champions in 1963 and twice reached the 1st round proper of the FA Cup. However, the success was short-lived, and after some difficult seasons they left the league in 1973 after finishing bottom for the second successive season.
A second Loughborough FC came into existence in 1988, when Loughborough J.O.L. (formerly Thorpe Acre Hallam) changed their name to Loughborough FC. The club competed in the Central Midlands League, but left and apparently folded in 1990.