Avant: Personal Loans Review

  19,313 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   19,313 Reviews

trustpilot-stars

BARBARA B

7 hours ago

trustpilot-stars

Had an emergency

Had an emergency. Applied for a refi of current loan on Friday. Funds were deposited into my bank account on Tuesday. So stress free and easy. Thank you.


MA AND BABE...

8 hours ago

trustpilot-stars

Process was fast and easy.

Process was fast and easy.. Only minimal information required before I was approved…. The money was in my account with in a few days from start to finish…


TOM B

9 hours ago

trustpilot-stars

Great Company to do business with..

Great Company to do business with..


KORLU KORLUBAH

10 hours ago

trustpilot-stars

Fast and reliable

Fast and reliable. They review your application immediately, communication is excellent!!!


DARRELL MOODY

14 hours ago

trustpilot-stars

You guys helped me bury my Mom I really…

You guys helped me bury my Mom I really appreciate that


LINDA C

15 hours ago

trustpilot-stars

I applied to Avant for a personal loan

I applied to Avant for a personal loan. I needed to consolidate some bills. I had my approve in 1 day and the money was in my account in 2 days. Very happy.


FRANK L

15 hours ago

trustpilot-stars

Awesome card

Awesome card , it’s help build your credit


GRETA G

16 hours ago

trustpilot-stars

Great

Great, fast service


RAY

17 hours ago

trustpilot-stars

False advertisement

It clearly said checking rates will not impact your credit. Well it did. They ran my credit hard inquiry without my consent. Second, they ask for tax returns. Mmm 🤔 I'm not buying a house so no thanks. Don't recommend this business. They are not up-front and are misleading


ADRIAN H

17 hours ago

trustpilot-stars

Application was easy and fast

Application was easy and fast. Response was even quicker and I got my money the next day.


SELINA J

19 hours ago

trustpilot-stars

Easy Application

Easy Application. Funds deposited with 48 hrs.


MICHAEL W

19 hours ago

trustpilot-stars

Very easy and very responsive

Very easy and very responsive. The application process was flawless.


LYLE

20 hours ago

trustpilot-stars

Great

Fast, easy, no hassle, with a great interest rate!


KRISTI

17 January, 2022

trustpilot-stars

Looking for a lender choose Avant

I really glad that Avant can through when I needed the most with my financial problems. I would highly recommend Avant to my friends and family that are looking for lenders to help them. It was a very easy process got approved within minutes of doing the application. Thank you again for helping out.


VICENTE V

17 January, 2022

trustpilot-stars

Very easy process was approved quickly…

Very easy process was approved quickly everything up front and clear.


ELONDA D

17 January, 2022

trustpilot-stars

I would recommend my friends and family…

I would recommend my friends and family to utilize Avant for their lending company. There wasn't any Hassle, the agent helped me through the paperwork process.


KIMBERLEY N

16 January, 2022

trustpilot-stars

Avant was very easy and friendly to do…

Avant was very easy and friendly to do online and really fast on getting funds in my account. Very pleased so far. TksI


HEATHER

16 January, 2022

trustpilot-stars

Restored my faith in humanity and lending

So easy to apply and upload documents, SO fast and they directly deposited my funds 1 day earlier than promised!


FERNANDO BARRON

16 January, 2022

trustpilot-stars

Disculpen ustedes a que numero se…

Disculpen ustedes a que numero se estuvieron? Yo estoy comunicando con el numero 556 073 5602, y me dicen que deposite el 3% y que en 5min me depositan el prestamo


CONNIE J

16 January, 2022

trustpilot-stars

This was one of the easiest loans I’ve…

This was one of the easiest loans I’ve ever received! I would definitely refer Avant to anyone looking for a loan!


ROBERT CASILLAS

16 January, 2022

trustpilot-stars

My experience with Avant

My experience with Avant has been very positive. The application process was easy, the loan options were very fair and appealing in how they were appropriate for my needs. Best of all the funds were delivered quickly. I did compare the loan options offered by Avant with other offers from loan companies and the rates were much more appealing. I appreciate the service Avant offered and would recommend them to others.


KATHY G

16 January, 2022

trustpilot-stars

I was pleased with Avant with my first…

I was pleased with Avant with my first loan and so I got another in a timely fashion. And I appreciated the congratulations I received for paying the first one off. Thank you, Avant!


MATT J

16 January, 2022

trustpilot-stars

Apr is a bit higher that’s all

Apr is a bit higher that’s all, customer care is great and got the money with little less than 3 days !!


THERESA L

15 January, 2022

trustpilot-stars

Wow! That was Amazing!

Wow! I’m so happy to be able to get this loan. It was very easy but yet thorough in questions that were asked. I recommend Avant to anyone who is looking for a loan for whatever their reasons are. Great company!


SERGIO GARCIA ROSALES

15 January, 2022

trustpilot-stars

Duda

Pregunta, si ya ingresaste los datos y te piden el 3%, pero no realizas ese deposito..... Aun te quieren cobrar el "préstamo"??? Aunque no lo hayas recibido???


MATTHEW G

15 January, 2022

trustpilot-stars

The service was so fast

The service was so fast


ADRAIN B

15 January, 2022

trustpilot-stars

Great business to work with

Great business to work with. Applied online and within minutes they sent my rates. I would recommend Avant to all my associates and friends.


DONALD S

15 January, 2022

trustpilot-stars

Quick and painless process

Quick and painless process


AMY THOMPSON

15 January, 2022

trustpilot-stars

The best

Awesome customer service with attention to detail. Works to fit your budget with directness and compassion. Very pleased


CHARLES C

15 January, 2022

trustpilot-stars

Very easy.

Very, easy and simple.


MARTIN TAULELEI

14 January, 2022

trustpilot-stars

Awesome service

Awesome service


JASPER JONES

14 January, 2022

trustpilot-stars

The process was very easy and the…

The process was very easy and the payment met my budget.


DEBORAH W

14 January, 2022

trustpilot-stars

Process was fast and easy

Process was fast and easy


CARMEN VON BURGER

14 January, 2022

trustpilot-stars

Thus has got to be the easiest process…

Thus has got to be the easiest process I ha e ever dealt with. It was quick and painless. Thank you!


MIREYA L

14 January, 2022

trustpilot-stars

Everything was very smooth

Everything was very smooth. They made it very simple to apply.


DEBRA S

14 January, 2022

trustpilot-stars

Very easy to apply and quick responses

Very easy to apply and quick responses


KEIRSTEN D

14 January, 2022

trustpilot-stars

I needed a loan in order to pay for school

I needed a loan in order to pay for school, read the reviews and instantly with with Avant. They seem to care about their customers with no hidden extras. Applied Friday, received money on Monday. Super happy!


CUSTOMER

13 January, 2022

trustpilot-stars

This is my third loan over the years…

This is my third loan over the years with Avant and I have always been satisfied with the service provided. I was kept informed throughout the process which I found very helpful.


RIE L

13 January, 2022

trustpilot-stars

process and friendly svc

The ease of process and friendly customer service is what I appreciate most.


PATRICK ALLAN COCHERL

13 January, 2022

trustpilot-stars

Enjoyed the personal service and auto…

Enjoyed the personal service and auto pay. Sure makes paying monthly bills easier. Thank you!


PAMELA G

13 January, 2022

trustpilot-stars

Very helpful and fast service!

Very helpful and fast service!


ROBIN K G

13 January, 2022

trustpilot-stars

Very helpful

Very helpful


RAUL M

13 January, 2022

trustpilot-stars

Fast processing

Fast processing. Simple instructions. Competitive rates.


JAMES MCKENNA

13 January, 2022

trustpilot-stars

The process online was great

The process online was great. I gave 4 stars because I was offered a much lower amount than requested and of course the interest rate was super high. It would be Great if loans were based more on payment history rather than debt load. I would have paid off certain debts had I gotten the higher amount I needed. Truly wish I could get 1 loan for all my debt so I could have 1 payment a month. 50k at 60 months for 1000 a month would have been perfect.


KRIS CREAMER

13 January, 2022

trustpilot-stars

My credit is improving. and making on-time payments!

My credit is improving. I had a initial limit and was increased on request $300 more because of my ON TIME payments!


LORRAINE F

13 January, 2022

trustpilot-stars

I'm very grateful for the loan and the…

I'm very grateful for the loan and the service i received the associated was very kind and helpful with the loan application. Thank you


TAWNI

13 January, 2022

trustpilot-stars

Very easy process to apply

Very easy process to apply. Money was in my account the next day. Reasonable interest rates, much lower than a credit card. Would and probably will use again.


KIM N

13 January, 2022

trustpilot-stars

Good

Avant very good


SHARON MENZER

12 January, 2022

trustpilot-stars

Everything went very easy and very fast

Everything went very easy and very fast


ALEXIS RIOS

12 January, 2022

trustpilot-stars

Me acaban de robar estos pendejos igual…

Me acaban de robar estos pendejos igual que ingresé mal mi cuenta pero ellos lo manipulan exijo mi renbolso del 10 %. +855 71 817 1644 es el número de la rata que trabaja para esta app

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