Personal Loans Like Avant: Top 5 Alternatives & How to Choose

Last updated 02/14/2025 by

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Need a loan but not sure if Avant is the best choice? Whether you’re looking for lower rates, higher loan amounts, or better terms, there are plenty of great alternatives. Let’s explore the top loans like Avant and how to choose the right one for your needs.

Avant is a popular choice for personal loans, especially for borrowers with fair or bad credit. But it’s not the only option out there. If you’re searching for loans like Avant loans, you might be looking for better interest rates, lower fees, or more flexible repayment terms.

In this guide, we’ll explore what Avant offers, why you might want an alternative, and how to find the best loan for your needs.

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Top 5 Alternatives to Avant Loans

If Avant Loans doesn’t meet your needs, don’t worry—there are plenty of other lenders to consider. Below, we’ve highlighted five excellent alternatives, each with unique benefits to suit different financial situations.

What Is Avant?

Avant is an online lending platform that offers personal loans primarily to borrowers with fair or poor credit. The company provides unsecured personal loans that can be used for various purposes, including debt consolidation, home improvement, and emergency expenses.

Loan amounts range from $2,000 to $35,000, with repayment terms between 12 to 60 months. While Avant’s interest rates can be high for those with lower credit scores, it remains a viable option for people who struggle to qualify elsewhere.

If you’re looking for larger loan amounts, check out how to get a $40,000 personal loan.

Key Features of Avant Loans

Loan Amounts: $2,000 to $35,000
APR Range: Typically 9.95% – 35.99%
Repayment Terms: 12 to 60 months
Credit Score Requirement: 550+ (but lower scores may qualify)
Origination Fees: Up to 4.75%
Funding Time: As soon as the next business day
Prepayment Penalty: None

Need help understanding personal loan rates? Here’s what you should know before applying.

Is Avant Legitimate?

Yes, Avant is a legitimate lender. It has been in business since 2012 and has helped more than 1.5 million customers secure financing. Avant is also accredited by the Better Business Bureau (BBB) and holds a strong reputation for transparency and fair lending practices.

However, some borrowers report high interest rates and fees, especially those with lower credit scores. If you have good credit, you may qualify for better loan options elsewhere.

Want a better deal? Learn about personal loans for people with good credit.

Why Look for Alternatives to Avant Loans?

Avant works well for some borrowers, but it’s not the best fit for everyone. Here’s why you might want to consider an alternative:

Lower Interest Rates: Avant’s rates can be high for borrowers with fair credit.
Higher Loan Limits: If you need more than $35,000, you’ll have to look elsewhere.
No Secured Loan Option: Avant only offers unsecured personal loans. If you want lower rates, you might consider a secured personal loan.
Better Customer Service: Some borrowers report customer service issues with Avant.

Considering secured vs. unsecured loans? Learn about the key differences here.

How to Choose the Right Avant Alternative

Not all personal loans are created equal. When looking for an Avant alternative, consider the following factors:

Loan Terms: Look for lenders offering longer repayment terms if you want lower monthly payments.
APR & Fees: Compare interest rates and check for hidden fees.
Eligibility Requirements: Some lenders have stricter credit score requirements than Avant.
Funding Speed: If you need cash fast, find a lender that offers same-day or next-day funding.
Loan Type: Decide between secured vs. unsecured loans based on your needs.

Want to learn more? Read about the pros and cons of personal loans.

FAQs About Avant Loans

Does Avant offer loans for debt consolidation?

Yes, Avant loans can be used for debt consolidation. Many borrowers use Avant to combine multiple high-interest debts into one fixed monthly payment. However, the interest rate you receive will depend on your credit score.

Learn more about debt consolidation loans and how they can help you save money.

Can I get an Avant loan with bad credit?

Yes! Avant specializes in loans for fair and poor credit borrowers. While the minimum credit score requirement is typically 550, other factors like income and debt-to-income ratio also play a role in approval.

Not sure what your credit score means? Check out this guide for a breakdown.

How fast does Avant fund personal loans?

Avant offers quick funding, with many loans being deposited as soon as the next business day. However, funding speed may vary based on your bank and the time of approval.

What are the alternatives to Avant loans?

Some great alternatives to Avant include:

LendingClub– Best for borrowers with fair credit
Upstart– Great for those with a thin credit history
Marcus by Goldman Sachs – No fees and low rates
LightStream– Best for good credit borrowers looking for low APRs

Do Avant loans help build credit?

Yes! Avant reports to all three major credit bureaus, which means on-time payments can help improve your credit score. However, missed payments can hurt your score, so make sure to pay on time.

Want to know more? Check out how personal loans affect your credit score.

Final Thoughts on Loans Like Avant Loans

Avant is a solid option for borrowers with fair or bad credit, but it’s not the best choice for everyone. If you’re looking for lower interest rates, larger loan amounts, or better terms, consider exploring alternatives.

Before applying, make sure you understand the terms, compare different lenders, and find the best loan for your needs.

Need help qualifying? Read how to qualify for a personal loan before you apply.

Key Takeaways

Avant offers personal loans from $2,000 to $35,000, primarily for borrowers with fair or bad credit.
Interest rates can be high, ranging from 9.95% to 35.99%, making it important to compare alternatives.
Alternatives to Avant include LendingClub, Upstart, Marcus by Goldman Sachs, and LightStream.
Factors like APR, loan terms, fees, and credit score requirements should be considered when choosing a lender.

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