Best Personal Loans from Avant of May 2022

We have found 3 offers from Avant. The APR for Avant personal loans starts from 9.95% while the amount you can get varies from $2,000 to $35,000. You can apply for a Avant personal loan of up to 60 months. See all the terms to decide if Avant is the right lender for you.

Avant
By Hanna Volkava
Updated May 22, 2022

See all Avant personal loans in May 2022

Showing 3 loans
APR
9.95 - 35.99 %
Term
2 - 5years
Loan amount
$2,000 - $35,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    4.75%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Personal Loan
  • Pros:
    • Fast approval and funding
    • Low minimum credit score requirements
    • No prepayment fees
  • Cons:
    • Fees
    • No Autopay discount
    • No Cosigner Option

Avant offers unsecured loans of $2,000 to $35,000. Rates range from 9.95% to 35.99%.

Avant charges an origination fee up to 4.75%.

Avant personal loans are not available in Colorado, Iowa, West Virginia, New York, Vermont, Hawaii, and Nevada.

See Avant full product review
Check rates
On Avant‘s site
APR
9.95 - 35.99 %
Term
2 - 5years
Loan amount
$2,000 - $35,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    4.75%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Debt Consolidation Loan
  • Pros:
    • Fast approval and funding
    • Low minimum credit score requirements
    • No prepayment fees
  • Cons:
    • Fees
    • No Autopay discount
    • No Cosigner Option

Avant offers unsecured loans of $2,000 to $35,000. Rates range from 9.95% to 35.99%.

Avant charges an origination fee up to 4.75%.

Avant personal loans are not available in Colorado, Iowa, West Virginia, New York, Vermont, Hawaii, and Nevada.

See Avant full product review
Check rates
On Avant‘s site
APR
9.95 - 35.99 %
Term
2 - 5years
Loan amount
$2,000 - $35,000
  • Minimum credit:
    scorer
    Poor (300-579)
  • Origination fee:
    4.75%
  • Funds available in:
    1 business day.
  • Loan Purpose:
    Home Improvement Loan
  • Pros:
    • Fast approval and funding
    • Low minimum credit score requirements
    • No prepayment fees
  • Cons:
    • Fees
    • No Autopay discount
    • No Cosigner Option

Avant offers unsecured loans of $2,000 to $35,000. Rates range from 9.95% to 35.99%.

Avant charges an origination fee up to 4.75%.

Avant personal loans are not available in Colorado, Iowa, West Virginia, New York, Vermont, Hawaii, and Nevada.

See Avant full product review
Check rates
On Avant‘s site
Check rates
On Avant‘s site

Check Avant personal loan rates

scorer
APR Range
9.95 - 35.99%
scorer
Loans
up to $35,000
scorer
Terms
up to 60 months
scorer
Score required:
Poor (300-579)
scorer
Loan purposes:
Personal Loan, Debt Consolidation Loan, Home Improvement Loan

Information about lender

  • Organisation:
    Avant, LLC
  • Website:
  • Headquarters:
    222 N. LaSalle St., Suite 1600 Chicago, Illinois 60601

Check loans from other lenders

Payoff®
Payoff®
Personal Loan
2.9 out of 5
Recommended credit score
bank name
Good (670-739)
  • 5.99 - 24.99 %
    APR
  • 2 - 5 years
    Loan Term
  • $5,000 - $40,000
    Loan Amount
Check rates
On Payoff®‘s site
Prosper
Prosper
Personal Loan
2.36 out of 5
Recommended credit score
bank name
Fair (580-669)
  • 7.95 - 35.99 %
    APR
  • 3 - 5 years
    Loan Term
  • $2,000 - $40,000
    Loan Amount
Check rates
On Prosper‘s site
Upstart
Upstart
Personal Loan
3.84 out of 5
Recommended credit score
bank name
Fair (580-669)
  • 3.5 - 35.99 %
    APR
  • 3 - 5 years
    Loan Term
  • $1,000 - $50,000
    Loan Amount
Check rates
On Upstart‘s site

Avant Review

Online lenders offer affordable financial options to borrowers with fair to good credit scores or even bad credit. Fintech lenders have a quick pre-approval process and faster funding at lower APRs than payday loans or most credit cards if you have a solid credit profile. Today, we’re going to review Avant, a fintech lender that offers personal loans.

Based in Chicago, Avant is an online lending company that offers unsecured personal loans to borrowers with fair credit, or better. The company joined the online lending game in April 2012 and uses WebBank to facilitate its loans.

Avant loans range from $2,000 - $35,000 with repayment terms of 2 - 5 years. Most borrowers that receive Avant personal loans have a credit score between 600 and 700. Avant loans APRs range from 9.95 - 35.99%. Once you get approved, you’ll receive funding as soon as the next business day.

Their loan offerings are available in most US states except Iowa, Vermont, Nevada, Hawaii, Colorado, West Virginia, and New York.

Avant Loan Types

Avant's personal loans include:

  • Home improvement loans: You can get a home improvement loan from Avant to finance home improvement projects like kitchen or bathroom remodel, among others.
  • Debt consolidation loans: You can get a debt consolidation loan from Avant to combine multiple debts (credit cards, medical bills, etc.) into one. Then, instead of making multiple payments to different lenders, you’ll only make a single monthly installment to Avant.
  • Emergency loans: Whether you want to pay an emergency medical bill or unplanned car repairs, getting an emergency loan from Avant can help you avert the financial stress.

Loan specifications

You can apply for the following types of loans: home improvement, debt consolidation, emergency loans.

APR9.95 - 35.99%
Amount$2,000 - $35,000
Term2 - 5 years
Origination fee4.75%

As you can see from the table the maximum loan amount is $35,000, and the APR starts at 9.95% for the best graded borrowers. The loan period varies from 2 to 5 years.

Avant Pros and Cons

Pros: Cons:
Simple pre-approval: Avant performs a soft credit check for a quick pre-qualification to allow you to see eligible loan offers without affecting your credit score. Fees: Avant charges an administration fee of up to 4.75%, a dishonored payment fee of $15, and a late fee of $25 if payment is 10 days past the due date.
Reports to all 3 major credit bureaus: Your loan repayments are reported to Equifax, Experian, and TransUnion. It makes it easier to build credit if you make on-time payments. No discount for auto-pay: No discount when you put your monthly repayments on autopay. Other lenders, like Upgrade, offer an autopay discount.
No prepayment fees: You can pay your loan faster than the original term and save money on interest. No joint loans: Avant doesn't offer secured loans or joint loans with a cosigner. You have to qualify on your own.
Quick Funding: Once you pre-qualify and get approved, you could get the funds as soon as the next business day. High APRs: Avant’s APRs start at 9.95%, which is somehow high compared to other personal loan lenders. For instance, Upgrade’s starting APR is 5.94%.
Easy loan management: The Avant mobile app helps you manage your loan account right from your mobile phone.
Transparency: Avant’s website is informative. Interest rates/loan terms are disclosed on the website.

Applying for Avant Loan

Like any other lender, Avant sets minimum loan qualification requirements for its borrowers. So before you dive into the application process, you need to cross-check your credit profile and plan accordingly. Avant Loan minimum Requirements include:

  • Be at least 18 years old.
  • Be a US citizen or a permanent resident
  • Have a Social Security Number (SSN)
  • Even though Avant does not disclose the minimum credit score required, most of its customers have a score between 600 and 700.

How to apply for an Avant loan

Avants provides a simple loan application process on its website. The loan application process begins with the borrower submitting an application form with their email address, phone number, SSN, monthly income, estimated credit score, loan amount, and purpose.

Once you submit your details, Avant performs a soft credit check for a quick pre-approval without affecting your credit score. This helps you see eligible loan offers and their terms before the actual application. Once you select your loan offer and accept the terms, you’ll be prompted to provide your verification documents and your bank account number.

Then a hard credit check is performed to complete the application process. After approval, money is deposited in your bank account through ACH transfer within a day or two. Unfortunately, Avant doesn't offer the option to transfer loan funds directly to creditors.

Conclusion

Avant is a good company for borrowers with a fair credit score who need cash quickly. The lender has a quick approval time, an informative website, and transparent interest/loan terms. Avant interest rates and the score needed for a loan are comparable to other lenders who offer loans to similar borrowers.

That said, Avant doesn't offer a discount for autopay, and you'll have to contend with an origination fee of up to 4.75% of the borrowed amount.

FAQ

What is the Avant Customer service phone number?

You can call their customer service number (800) 712-5407 for any complaints or inquiries.

Is Avant (company) legit?

Yes, Avant is a legitimate lender with its headquarters in Chicago. Plus, the lender has a straightforward, secure website where they fully disclose interest rates/loan terms.

Can I get a second loan from Avant?

Yes, you can get a second loan from Avant to refinance a personal loan. If you qualify, you'll receive additional funds, and you may be eligible for a lower APR.

Is Avant a Payday loan?

No Avant isn't a payday loan provider but a safe fintech lender offering personal loans to people with fair credit.