Avant: Personal Loans Review

  19,373 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   19,373 Reviews

trustpilot-stars

MOHANAD A

20 hours ago

trustpilot-stars

Great

Great AAAAAAAAAAAAAAAA+


LOYD L

23 hours ago

trustpilot-stars

Easy to work with and a fast response.

Easy to work with and a fast response.


JOYCE K

22 January, 2022

trustpilot-stars

Very easy to get things done

Very easy to get things done. Thank you


HENRY S

22 January, 2022

trustpilot-stars

Everything was perfect this time I have…

Everything was perfect this time I have had bad experience with Avant but now you come through


TOI H

22 January, 2022

trustpilot-stars

Very helpful

Very helpful, and quick with responding


OSVALDO

21 January, 2022

trustpilot-stars

Me hicieron un fraude

Me hicieron un fraude , realice un proceso de llenado de documentos correctamente, al hacer un depósito me apareció que estaba mal llenado y que no se podía realizar el depósito del préstamo solicitado y me bloquearon enseguida +855 97 432 4930 el número que me hizo todo


ANDRE WILLIAMS

21 January, 2022

trustpilot-stars

Great customer service

Great customer service


OLUFUNMILAYO FAMUYIDE IGONI

21 January, 2022

trustpilot-stars

Avant Loan.

Avant is a honest and excellent place to apply for a loan. I received the money in my account sooner than I thought. Avant is the best.I will refer friends and families to Avant.Thank you.


ALISA O

21 January, 2022

trustpilot-stars

Amazing service and quick responses

Amazing service and quick responses! They quickly reviewed my application and have me an answer quickly. I had one issue and they resolved it even faster. Great experience so far!


WILLIAM GIESE

21 January, 2022

trustpilot-stars

I was very pleased with my experience…

I was very pleased with my experience with Avant. I got their loan approval very quickly and they were very professional in answering my questions. I would not hesitate to recommend them to anyone else who is looking for a personal loan. Thanks again Avant.


STEVEN G

21 January, 2022

trustpilot-stars

Thank you Avant

Thank you Avant! You guys are a life saver! I am telling my family and friends about your company! So easy to get the funds you need and the money is in your account in a few days . Thank you again the MEN & WOMEN of Avant


CHRISTINA M

21 January, 2022

trustpilot-stars

Thankful for this company

Easy and convenient funds were made available right away, hassle-free & came at a time I needed them. I was able to pay my bills down etc.


CUSTOMER

21 January, 2022

trustpilot-stars

Excellent customer service

Excellent customer service


BUNNY

21 January, 2022

trustpilot-stars

Great company!

Applied for a loan last night and got approved in 5 minutes. Super fast and easy!


ANGELA HART

21 January, 2022

trustpilot-stars

Great company to work with

Great company to work with


JUDITH L

21 January, 2022

trustpilot-stars

Quick service

Quick service. Easy to apply. Received what was promised.


CHARLES O

20 January, 2022

trustpilot-stars

Very easy to apply for a loan and quick…

Very easy to apply for a loan and quick loan approval. Never have I had such easy and successful loan approval. Thanks


VIRGINIA RIVERA

20 January, 2022

trustpilot-stars

Quick and painless

I love how quick and painless this was. No need for explanation. Just click what you need it for, fill in the application and done. And received the money sooner than expected. This was my best experience making a personal loan. Thank you!


PEDRO GONZALEZ

20 January, 2022

trustpilot-stars

Amazing Credit Card

Amazing Credit Card - with a Generous Credit Limit to Start with - and an Increase to the Credit Card Limit within the short time. Love these guys.


CHARMAIN DAVIS

20 January, 2022

trustpilot-stars

This is my second loan with Avant

This is my second loan with Avant. They are quick efficient and courteous. I would highly recommend the van to anyone.


JEFF S

20 January, 2022

trustpilot-stars

Great

Doing great. Restrictions to people trying to get ahead are not in your vocabulary


JEFF R

20 January, 2022

trustpilot-stars

Excellent Service

Prompt courteous service. An excellent experience.


JACK

20 January, 2022

trustpilot-stars

Good service!

Good service!


ANDREA A

20 January, 2022

trustpilot-stars

Easy and great

The process is very easy, thank you for all


JOSEPH ESCRIBANO

20 January, 2022

trustpilot-stars

Credit score discrepancy between your and Credit Karma Transunion.

My Transunion credit score thru Credit Karma is 815. But you showed a score of 730. So my interest rate is higher as a result. Not sure I understand why there is almost a 100 point discrepancy between you and Credit Karma. I would like an explanation. Thank you Joe Escribano


LATOSHA HARRIS

20 January, 2022

trustpilot-stars

Avant is awesome they helped me with…

Avant is awesome they helped me with what I needed . They were fast and helpful and friendly staff.. Thank you Avent your the best.


BRUCE M

20 January, 2022

trustpilot-stars

very professional and prompt

very professional and prompt


DIANA A

20 January, 2022

trustpilot-stars

Simple and user-friendly process.

Simple and user-friendly process in filling out information. Great communication every step of the way.


JORGE ESCUTIA

20 January, 2022

trustpilot-stars

Yo abren caí en la trampa amigos.

Yo tambin caí en la trampa amigos. Me robaron casi 4000 con las mismas que a ustedes. Deposite aquí, deposite tanto y así. Lo bueno es que me dieron pruebas. Son chinos los hijos de de la china. Me mandaron una foto que dice deposito en yuanes. y si tenemos que reportar denos el número para asesor en español. El número de la rata. +855 71 817 1644


NEVILLE R

19 January, 2022

trustpilot-stars

great company to get a loan always come…

great company to get a loan always come true when you need help thank Avant helping me out with a loan


M. HIGGS

19 January, 2022

trustpilot-stars

Avant Has Great Service

Fast great service. I recommend everyone to use Avant


PATSY W

19 January, 2022

trustpilot-stars

I have always enjoyed the service i…

I have always enjoyed the service i receive from Avant. Great and easy company to do business with.


LISA MOSES

19 January, 2022

trustpilot-stars

Excellence customer service

Excellence customer service


GW

19 January, 2022

trustpilot-stars

Very fast service

Very fast service, top notch app! Got our small loan funded the very next day. Payments are easy to send out.


SHIRLEY

19 January, 2022

trustpilot-stars

Overall Experience

It was very easy to apply on line. The reply was prompt and I received the loan money in my account faster than I expected😊😊. The repayment terms fit into my budget.


DEBORAH A

19 January, 2022

trustpilot-stars

Avant was a quick and easy website to…

Avant was a quick and easy website to understand. Loan was approved quickly.


CUSTOMER

19 January, 2022

trustpilot-stars

Very nice

Very nice love the card and service I have received


LUIS A DEL POZO DEL POZO

19 January, 2022

trustpilot-stars

It's great Credit card

It's great Credit card, i'll recomended everyone Take one


DIAMIR ELLIOTT

19 January, 2022

trustpilot-stars

Amazing product and great app design

Amazing product and great app design. I would recommend this credit card to anyone looking to have a good experience


JENNIFER K

19 January, 2022

trustpilot-stars

Avant is amazing company

Avant is amazing company! Easy to repay and they helped me raise my credit score. The customer service is amazing! Thanks Avant!!!


ANTHONY

19 January, 2022

trustpilot-stars

The online process was simple and fast

The online process was simple and fast! Thanks Avant-!!!!


JASON D

18 January, 2022

trustpilot-stars

Great customer service and had the…

Great customer service and had the money the next day thx


ERNESTO ERAZO

18 January, 2022

trustpilot-stars

It is one of the best credit cards to…

It is one of the best credit cards to help to build the credit


LARAINE

18 January, 2022

trustpilot-stars

Thank you for this action

Thank you for this action


CHRISTY H

18 January, 2022

trustpilot-stars

One of the easiest loans I’ve every…

One of the easiest loans I’ve every done! Would highly recommend!!!


MARIE CHANTAL CASSY R

18 January, 2022

trustpilot-stars

Great

Quick and easy


DAVID M

18 January, 2022

trustpilot-stars

It was easy simple for me to get a long…

It was easy simple for me to get a long pay off bills were highly recommend you guys to others thanks


MIRELLA VILLEDA

18 January, 2022

trustpilot-stars

Thank you for ever think for be there…

Thank you for everything


WILLIAM LAMEY

18 January, 2022

trustpilot-stars

Great company.

Great company.


BRITTANY KRULOCK

18 January, 2022

trustpilot-stars

Building Credit

I was building my credit after a messy divorce and Avant was the helping hand I needed. After about a year they gave me a credit line increase for making my payments on time every month. My score has gone up over 100 points since building my credit with this card and this increase gave me another boost!

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