Avant Personal Loan Review

Avant offers personal loans to borrowers with fair credit and a robust mobile application that is very user-friendly.
Avant Loan Review
Mateo Beltroy
Author: Mateo Beltroy
4.7/5
4.7

Money4Loans Score

4.6/5
4.6

TrustPilot Score

About Avant

Avant, LLC is an American financial technology company founded in 2012 that offers digital financial solutions. Avant primarily offers personal loans and credit cards.

Avant has helped fund over 2 million people since 2012

Avant, LLC was previously known as AvantCredit and is based in Chicago, IL.

Pros

Cons

Avant Loan Details
Minimum credit score/credit range
550
APR
9.95% - 35.99%
Loan amounts
$2,000 - $35,000
Terms
12 - 60 months
Approval turnaround
Next business day
Availability
All States (Except HI, IA, ME, NY, VT, WV)
Fees
Late fee - $25
Other fees
Origination fee - Up to 4.75%

Who Is Avant Best For

Unlike some popular lenders, Avant offers loans to borrowers with fair credit. Their fair credit requirements make them a great option for borrowers who have experienced some financial hardship in the past and are recovering or borrowers looking to build their credit.

An important thing to note is that Avant has a higher APR than other lenders in the same category. If you fall on the lower end of Avant’s loan acceptance credit score, you are likely to get a higher APR. The lower APR (as low as 9.95%) is reserved for borrowers with higher credit scores.

Unfortunately, Avant is not available to borrowers who live in Iowa, Hawaii, New York, Vermont, Maine, or West Virginia.

Avant Personal Loan Uses

Avant allows borrowers to use their loans to consolidate debt, pay for emergencies (auto repair as well), medical expenses, home improvements, relocation expenses, and vacations. 

Avant does not allow their borrowers to use the loan funds for business purposes. 

How to Contact Avant

Avant’s customer service representatives are available Monday through Sunday from 7 AM to 8 PM CT by calling 800-712-5407. You can also submit an online inquiry through their website.

Our Verdict

Avant is a premium lender that offers a large loan amount range for borrowers with fair credit scores. 

We don’t love Avant’s fees, especially the origination fees, but we don’t consider them to be excessive given the requirements. The other downside is the high APR for borrowers on the lower end of their credit score acceptance range. This can make personal loans extremely costly in the long run.

What we do love is the extensive loan options that they offer and their fair credit score requirements. Their app is also very user-friendly, which makes it easy for borrowers to make payments online and access all the information they need about their loans.

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