Avant: Personal Loans Review

  18,510 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   18,510 Reviews

trustpilot-stars

ROBENSON

06 December, 2021

trustpilot-stars

The loan process was very easy and…

The loan process was very easy and quick.


BRIAN O

06 December, 2021

trustpilot-stars

Very quick and easy

Very quick and easy. Such an amazing help in a great time of need. Thank you


JAN

05 December, 2021

trustpilot-stars

Thank you for approving me

Thank you for approving me. I got to pay alot of my credit cards off!


ELDRED N

05 December, 2021

trustpilot-stars

Thank you making my experience easy and…

Thank you making my experience easy and hassle free.


KATIRIA T

05 December, 2021

trustpilot-stars

Loved how fast it was to process my…

Loved how fast it was to process my loan.


CORA H

05 December, 2021

trustpilot-stars

Easy process and approval.

Easy process and approval.


BENNIE W

05 December, 2021

trustpilot-stars

Fast approval process..and Fast funding

Fast approval process..and Fast funding


ARETA H

04 December, 2021

trustpilot-stars

Huge Thank you!

Avant, your company is excellent! My experience with my first loan was amazing, and is equally AMAZING with my current. I got approved instantly, and I love ❤️ the fact that Avant staff is very professional, accommodating and always goes above and beyond. Thank you 🙏 for always providing me with financial and stellar service. Areta Huckaby, Connecticut


ALFREDO M

04 December, 2021

trustpilot-stars

Just got my loan and the process was…

Just got my loan and the process was easy all online and got my money really fast. I got a 3 yr loan and will be having money pulled out of my account come January. I hope it all goes well and i can pay it off sooner than the 3 yrs


MR D

04 December, 2021

trustpilot-stars

Excellent credit rebuild card

I had this card for close to a year it doesn't have a very high credit limit but it take care of what I need to do plus they have excellent security and fraud protection would highly recommend this card if you are trying to build or rebuild your credit


RICHARD Z

03 December, 2021

trustpilot-stars

Loan approval was extremely fast…

Loan approval was extremely fast painless


KOSSI B

03 December, 2021

trustpilot-stars

GREAT COMPANY!

GREAT COMPANY!


DEBBIE B

03 December, 2021

trustpilot-stars

Applying for a personal loan was…fast, easy and uncomplicated

Applying for a personal loan was effortless, quick and easy. When application was approved money was deposited directly into my checking account within 48 hours. It was amazing.


WILLIE S

03 December, 2021

trustpilot-stars

Service was prompt

Service was prompt, I had to call them by phone and I had a quick response and a very understanding one as well, the representative was to the point and told me exactly what I was going to possibly need to close the loan.. She was exactly right concerning the document and timing, I was approved within 2 business days in the money was in my account the third day.


DONALD C

03 December, 2021

trustpilot-stars

Repeat Customer

This is my fourth time using Avant and it's services with complete,first rate satisfaction always helpful and willing to serve my needs


YVONNE B

03 December, 2021

trustpilot-stars

I got some unexpected expense …

I got some unexpected expense and Avant helped me out there customer is excellent, I thank you


MICHAEL S

03 December, 2021

trustpilot-stars

Excellent

Excellent, efficient service. From start to finish a very hassle free process that delivered flawlessly.


TANYA VALENTINE

03 December, 2021

trustpilot-stars

Great

So far so good. Great company. Fast service.


JOSEPHINE G

03 December, 2021

trustpilot-stars

I am very much satisfied with the…

I am very much satisfied with the quality of the service received from Avant. This is an outstanding loan company and I would recommend it to anyone needing a loan. The application process is quick and notification of approval is the same once all information has been received and reviewed. I had paid off my first loan in full and within a matter of days was able to obtain a second loan! Fantastic!


PAUL

03 December, 2021

trustpilot-stars

Very easy process

Very easy process


ROSA ISELA CANSECO ESPIRIDION

03 December, 2021

trustpilot-stars

Hola buen día con quién puedo ver lo de…

Hola buen día con quién puedo ver lo de mi reembolso ya que por una u otra cosa me piden más dinero Primero me pidieron el 3% luego el 7% y ahora quiere el 15% de q se trata de una estafa o que yo solo quiero q me rembolsen mi dinero el 10% q deposite y ya no quiero. Ningun prestamo


DANNY L

03 December, 2021

trustpilot-stars

No hassle

No hassle, courteousness and most of all, trusting for the loan


CARON P

03 December, 2021

trustpilot-stars

This process was easy and convenient…

This process was easy and convenient didn't have to jump through a lot of hoops.


JACK V

02 December, 2021

trustpilot-stars

Avant- professional service

My experience with Avant- has been very pleasant. The application process was brief, clear and fast. I got the loan money in one day. Thanks Avant for your professionalism.


CUSTOMERTAI TO

02 December, 2021

trustpilot-stars

Every things you did for my loan is…

Every things you did for my loan is excellent, all your staff very nice and wonderful


ARTHIPON S

02 December, 2021

trustpilot-stars

Fast approval

Fast approval, understand the needs of the customer.


SOMCHIN P

02 December, 2021

trustpilot-stars

Fast service

Fast service


VINCENT S

02 December, 2021

trustpilot-stars

Quick and hassle free process

Quick and hassle free process. Will consider doing business in the future.


PAUL M

02 December, 2021

trustpilot-stars

I don't know how to do this I know that every thingwe

I don't know how to do this but I know that the person that helped me was very helpful and things went very smoothly


DONOVAN M

02 December, 2021

trustpilot-stars

Very quick and simple 👌

Very quick and simple 👌


MICHELE G

01 December, 2021

trustpilot-stars

Very responsive and quick.

Very responsive and quick.


CASSANDRA F

01 December, 2021

trustpilot-stars

Very easy process

Very easy process, fast and efficient! Refinance option was available for me which was great! Avant- is very easy to work with


KATHRYN G

01 December, 2021

trustpilot-stars

This process was so easy

This process was so easy. I uploaded documents that they requested and had a decision within an hour. My money was deposited within the first 24 hours and the loan rate was awesome with a payment I could easily make. I got my loan for consolidation of credit card debt to stop paying such high interest. Love this company! Great customer service.


SONIA A

01 December, 2021

trustpilot-stars

I needed a loan prior to the one I had

I needed a loan prior to the one I had. Avant was very kind and helpful I was able to get extra money and refinance my loan .


MELISSA D

01 December, 2021

trustpilot-stars

Well it was easy and they trust me and…

Well it was easy and they trust me and I won't let them down


ALICE HURD

01 December, 2021

trustpilot-stars

Quite helpful and easy to use

Quite helpful and easy to use


S H

01 December, 2021

trustpilot-stars

Fast and easy

Fast and easy


PAUL NOLAN

01 December, 2021

trustpilot-stars

Fast simple easy and keep you inform…

Fast simple easy and keep you inform nothing bad to say


THERESA K

01 December, 2021

trustpilot-stars

The loan process was fast and easy

The loan process was fast and easy. So far so good, set up automatic payments, easy access to update date and amount. Clear and concise information at each step.


KIRSTEN B

01 December, 2021

trustpilot-stars

Quick and easy application process

Quick and easy application process


ALICIA G

01 December, 2021

trustpilot-stars

The application process was simple

The application process was simple, easy, and fast. I am very happy with how quickly I was approved and how quickly the funds where distributed into my bank account. I would highly recommend this company if your looking for a loan. This is my 2nd time I went through them for a loan and the first time my credit score was horrible but they took a chance on me and now I am on my 2nd time loan. A++ !!!


JOHN C

01 December, 2021

trustpilot-stars

Very easy to deal with your company

Very easy to deal with your company. Will definitely recommend you to others.


BONNIE WARREN

01 December, 2021

trustpilot-stars

this is an awesome card

this is an awesome card


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 Apply Quick Approval.

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.

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