Avant: Personal Loans Review

  18,468 Reviews on Trustpilot

Avant Snapshot

Founded in 2012, Avant is one of the biggest online lending platforms on the market based out of Chicago with over $6.5 billion extended to borrowers. The company focuses on regular middle-class Americans with lower credit scores.

The lender only requires a minimum credit score of 580, even though most customers have a score between 600 and 700. According to Avant, nearly half of the borrowers take out loans for debt consolidation. However, the personal loans may be used to fund unexpected expenses or home improvements. Loan terms can be between two and five years.


Avant Spotlight

Best For
Those with lower credit scores who need a loan

Marketplace or Direct Lender
Direct lender

Loan Types
Home improvement, debt consolidation

Loan APR
9.95% to 35.99%

Repayment Terms
24 to 60 months

Summary

Avant was founded with the middle class in mind. If you have a lower credit score, then Avant is probably the right lending institution for you. They only require a minimum credit score of 580.

And although their loans are costly compared to other lenders, the barrier to entry for a loan is a bit lower than competitors. This means that borrowers with higher credit scores may be better off choosing a different lender. The minimum Avant interest rate is quite high, at 9.95% while the maximum interest rate is 35.99%.

Avant also charges an administration fee of 4.75% of the loan amount. This means if you qualify for a $10,000 loan, they will deduct $475 from the loan amount before transferring the funds into your account.

Once you’re qualified for an Avant loan, you’ll get your money quite quickly. Typically speaking, you should get your personal loan within 1-3 business days.


Loan Types

Avant offers unsecured personal loans for customers looking to get a loan without a high credit score. If you’re qualified, you’ll get funding quite quickly, often by the next day.

Even though the minimum credit score required to get Avant funding is 580, most borrowers have scores between 600 and 700. Avant is similar to other low-credit lenders, like OneMain Financial who also reaches out to lower-credit borrowers.


Personal Loan Rates & Terms

Depending on your credit score, you could qualify for a loan with an APR between 9.95% and 35.99%. The maximum rate is higher compared to other lenders and the lowest rate is much higher compared to other lenders.

Many other lenders start out their rates around 6-7% and max out around 25%. However, every Avant loan APR is fixed, which means it won’t get higher as long as the loan remains open.

Avant charges an “administration fee” which can range from 0% to 4.75% of the loan depending on your loan, terms, rate, and credit history.

Overall, Avant offers pretty good terms for those with lower credit. Plus, they offer pretty high loans despite offering loans to lower-credit borrowers. Loans can range from $2,000 to $35,000 for periods of 24 to 60 months.


Avant Pros

  • Loans as high as $35,000
  • Low credit score required: 580
  • Soft credit check with pre-qualification
  • Options to change payment date
  • Approval in 2-3 business days
  • No prepayment fees

Avant Cons

  • High APRs of 9.95% to 35.99%
  • No options to include a co-signer
  • Up to 4.75% administration fee
  • $25 late fee

Avant Application Process

While Avant doesn’t disclose any minimum income requirements, they do require a minimum credit score of 580. You also must be a US citizen or permanent resident of the US with a Social Security Number in order to apply.

After you fill out the quick online application, you can check out your different loan options. You’ll have to fill out a form that includes basic information like your name, address, income, and desired loan amount, etc.

In the application process, you’ll also need to create an account on the Avant website. Once the pre-qualification process is done, you’ll be able to finish your application.


Customer Support

Avant has great customer service. With a Better Business Bureau (BBB) rating of A-, they’ve been accredited since 2015.

Since they launched in 2012, Avant has served over 800,000 customers and built up quite the reputation for customer service.

For informational resources, you can check out their FAQ section on their website, or their blog for in-depth financial information.

If you have any questions, it’s easy to contact them by phone throughout the week, or by email.


Final Thoughts on Avant

So, should you use Avant to access a personal loan?

Well, Avant’s loans may not be the best choice for everyone. It’s important to weigh the advantages and disadvantages of the platform.

In terms of disadvantages, Avant doesn’t allow you to include a co-signer (co-borrower), which means if your credit isn’t good enough, you can’t get in by signing up with someone with higher credit.

Another disadvantage is that the APR caps are high and they include an administration fee, which can both add up quickly.

However, the advantages include a wide range of loan amounts ($2,000 to $35,000), which is impressive considering they will approve someone with a lower credit score of 580. Avant also offers a mobile app to see your payment history and manage your account.

Overall, Avant is a great solution for anyone with lower credit who’s willing to pay a bit more in fees to secure a personal loan.


FAQ

What are Avant’s fees like?

Avant includes fees for administration, late fees, and dishonored payment fees. Administration fees may or may not be charged and have a maximum cap of 4.75% of your loan amount.

If you make a late payment or make a dishonored payment, you may be charged a fee.

Can you borrow more from Avant or refinance a current loan?

Once your loan is issued, the loan and terms that you agree upon are fixed until the loan is fully paid off. However, you may be able to refinance your unsecured loan. If qualified, you will receive additional funds and a potentially lower APR.

Avant Customer Testimonials

Excellent   18,468 Reviews

trustpilot-stars

MAR

01 December, 2021

trustpilot-stars

Fast and convenient!!

Fast and convenient!!


PAULA B

01 December, 2021

trustpilot-stars

Wonderful experience no problem 😊…

Wonderful experience no problem 😊 getting my Loan and the gentleman 😊 that help was really great thank you. Hassle Free.


KUSHON A

01 December, 2021

trustpilot-stars

Easy to deal with !

Easy to deal with !


RUTH S

01 December, 2021

trustpilot-stars

No one told me I needed a voided copy…

No one told me I needed a voided copy of a check from my bank. I have been looking at my bank every day for a deposit. Only when I CALLED did I find out what I needed to do. Why is that ?


CHRIS W

30 November, 2021

trustpilot-stars

Everything was handled in a timely…

Everything was handled in a timely matter


GERALD WHITLOCK

30 November, 2021

trustpilot-stars

This company is awesome as long as you…

This company is awesome as long as you follow your directions and give them your information right everything will go through very quickly and smoothly 👍 thanks for all your help 😀


MARCE CAMARENA

30 November, 2021

trustpilot-stars

Fatal

Fatal, piden un depósito inicial de 450 pesos que disque para verificar la cuenta, después de ello te salen que la cuenta está mal escrita y solicitan un depósito por el 15% del monto del préstamo, el número de servicio a cliente está fuera de servicio, te contactan por otro número y según después de desbloquear tu cuenta para la corrección del número te vuelven a solicitar un depósito por 3000 pesos más que para que se genere la nueva contraseña y poder retirar tu dinero. Roban a la gente deliberadamente, abuzan de la necesidad, y verdaderamente no es justo. Esto es un verdadero fraude. Y no entiendo cómo instituciones como la conducef permite que sigan operando sin darle seguimiento a las denuncias. Ah y para colmo no hay forma de que te reembolsen tu dinero. Vil estafa y robo deliberado.


EBONY S

30 November, 2021

trustpilot-stars

Great company to get a loan from very…

Great company to get a loan from very easy I had the money in my account two days later no surprise fees with a great payment plan I would recommend them for loans Nice and simple


ALBERTO E

30 November, 2021

trustpilot-stars

Easy to use

Easy to use, all laid out with detailed information. Also very easy to upload documents


DIEGO V

30 November, 2021

trustpilot-stars

It's a fast service

It's a fast service. Pretty straight forward. I'm a returning customer. I'm glad that I found them


EDDIE B

30 November, 2021

trustpilot-stars

EXTREMELY SATISFIED CUSTOMER

This is the second time I have received a loan through Avant. Avant was extremely helpful through the process and made the application process simple and to the point.


ELLEN L

30 November, 2021

trustpilot-stars

Easy on great rate.

Easy on great rate.


ZH

30 November, 2021

trustpilot-stars

Considering I have a recent bankruptcy…

Considering I have a recent bankruptcy and 95% of everyone else either told me no or could only approve a loan for any higher $2500- I rate them very high for helping me ( an average working class person ). I make decent money, have always paid my bills, but decided to work with the system, I have always supported, and filed for bankruptcy in 2020. Now when I needed assistance Avant was 1 of 2 companies that was willing to help. Also, the interest seemed fair. A bit higher for someone with a recent bankruptcy but fair. if you are looking for an unsecured, personal loan try them first.


MICHAEL C

30 November, 2021

trustpilot-stars

Excellent service!

Excellent service!


MICHAEL F

30 November, 2021

trustpilot-stars

Quick and easy

It was quick and easy, got approved and 5he money was in my account by midnight


JOSEP P

30 November, 2021

trustpilot-stars

Fast

Fast, effective, flexible and good rates. Thanks Avant.


SEMPERFI

30 November, 2021

trustpilot-stars

It was fast and easy

It was fast and easy with the process.


ANNA COBOS

30 November, 2021

trustpilot-stars

Porque no dejan cambiar los datos

Porque no dejan cambiar los datos, yo estoy segura que puse bien mi número de cuenta


WILLIAM C

30 November, 2021

trustpilot-stars

Most approachable loan/creditors I have come across.

I have been receiving adds and offers from Avant for a few years now, but with me being in the process of rebuilding my credit I never thought they would be an option. Well I finally applied and they have been the easiest and most approachable of any loan/creditors I have ever come across.


FRANK W

30 November, 2021

trustpilot-stars

Super easy and fast

Super easy and fast. Great easy service


ROBERTO CARLOS RODRIGUEZ BRENE

30 November, 2021

trustpilot-stars

Me piden el 3 porciento de un préstamo…

Me piden el 3 porciento de un préstamo de 15 pesos y ya me lo cambiaron


JOSEPH WATSON

30 November, 2021

trustpilot-stars

Avant was a lifesaver

Avant was a lifesaver. I needed a loan to purchase a major appliance in our home that failed and I was denied credit with the supplier. So I logged on to Credit Karma and it said that I have a pretty good chance of getting approved from Avant. Not only did I get approved, I received the funds via direct deposit after 2 days! I was able to purchase the major appliance and family is very happy. Two thumbs up. Joseph W.


CARRIE

29 November, 2021

trustpilot-stars

From the beginning of application to…

From the beginning of application to approval of loan the process was easy to understand and do, also to put the loan in my checking account was very short. The whole process was only three days I would highly recommend them to otherd.


SON LE

29 November, 2021

trustpilot-stars

Great customer

Great customer


BOOGIE23

29 November, 2021

trustpilot-stars

Fast payout

Fast payout, ease of use with no early payoff penalties is perfect.


BRYAN LOPEZ AVI

29 November, 2021

trustpilot-stars

Amazing company fast and helpful !

Amazing company fast and helpful !


ALICE C

29 November, 2021

trustpilot-stars

This is the second time I used Avant

This is the second time I used Avant. Super easy, quick and fair!


WES BROMBERG

29 November, 2021

trustpilot-stars

Easy and fast

Easy and fast


JESSICA Y

29 November, 2021

trustpilot-stars

Very quick to respond

Very quick to respond. Easy application process.


ALEX M

29 November, 2021

trustpilot-stars

Quick and easy process

Quick and easy process. Would use them again if needed in the future.


KATHY S

29 November, 2021

trustpilot-stars

Very helpful and fast with responses…

Very helpful and fast with responses and getting qualified for a loan, I would highly recommend them to family and friends!


CARLOS B

29 November, 2021

trustpilot-stars

Avant- was smooth and simple

Avant- was smooth and simple. I couldn’t ask for a better experience.


STEPHEN B

29 November, 2021

trustpilot-stars

A very good company to loan money from…

A very good company to loan money from a nice interest rate and easy to apply


WILLIAM ARREOLA

29 November, 2021

trustpilot-stars

Avant has found a way to stream line…

Avant has found a way to stream line the process for accessing money. Great to have team Avant on my side.


JORGE T

29 November, 2021

trustpilot-stars

Excellent Great Service...

Excellent Great Service...


ADRIAN C

29 November, 2021

trustpilot-stars

Had a positive experience

Had a positive experience. Gave all my information within a couple of hours had a result and my loan was approve. Would definitely recommend to family and friends.


KATHRYN H

28 November, 2021

trustpilot-stars

Several Loans

I have had several loans with them and they are always great to work with! You receive your funds really fast and it is easy to apply! I would definitely recommend them!


CORA L

28 November, 2021

trustpilot-stars

Just had a hard time understanding the…

Just had a hard time understanding the representative. Otherwise excellent service


ROY MACOMBER

28 November, 2021

trustpilot-stars

easy and fast

easy and fast. thank you


KEVIN

28 November, 2021

trustpilot-stars

I'm trying to build my credit back up…

I'm trying to build my credit back up and nobody would approve a loan for me. I came across Avant and with a few documents I had the amount I needed to get one of my biggest old debts paid off and my loan is only for 3 years but I can pay it back sooner without any penaltys. So far so 👍


YNO S

28 November, 2021

trustpilot-stars

Very good Service

Very good Service


JOSE PAGAN

28 November, 2021

trustpilot-stars

I were really desperate with my credit…

I were really desperate with my credit card debt, no body was helping me until avant appears and help me,now I'm free of my debt, free of the situation I were, and finally happy. Thank you AVANT, they are legit.


AUN O

28 November, 2021

trustpilot-stars

Help me when I need it the most!

Help me when I need it the most!


TRACIM

28 November, 2021

trustpilot-stars

Quick and efficient service

Quick and efficient service. Funds were posted within 2 business days


JOSEPH K

28 November, 2021

trustpilot-stars

very easy

It was very easy to work with you


MARIE L

28 November, 2021

trustpilot-stars

Avant is a great place to get a loan

Avant is a great place to get a loan. Fast, efficient and so easy. Apply online and have the money within 3 days. What's not to love.


CHRISTOPHER P

27 November, 2021

trustpilot-stars

You guys did a great job in completing…fast and dependable

You guys did a great job in completing my loan in a fast and timely manner keep up the great work


COREY HAMPTON

27 November, 2021

trustpilot-stars

Quick approval

Quick approval. Good finance terms with no fees. I received funds within two days


ALONZO S

27 November, 2021

trustpilot-stars

The process was simple the response…

The process was simple the response timely, and so far no frills. Happy I chose Avant.


C FREEMAN

27 November, 2021

trustpilot-stars

Excellent

Excellent! Paid fairly quickly but, had no problems. Will use Avant again in the near future...

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