Overview

Where does Avant do business?

Avant is a lending platform based in Chicago, IL. Founded in 2012, Avant offers access to personal loans in 46 states (and Washington, DC).

What are the APRs offered via Avant?

Avant offers personal loans with APRs starting at 9.95% and up to 35.99%.

Does Avant charge an origination fee?

Yes, Avant charges a loan origination fee of 4.75% of the loan amount. Avant deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow. 

Does Avant charge a late fee?

Yes, Avant may charge borrowers a late payment fee of up to $25, which is triggered if you're 10 days late.

Does Avant charge prepayment fees?

No, Avant does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow via Avant?

Loan amounts start at $2,000 and go up to $35,000.

What is the maximum loan term you can get with Avant?

Avant offers personal loans with terms ranging from 24 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with Avant?

Applicants with a credit score of at least 580 can apply for a loan via Avant. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

To qualify for a Avant loan, applicants need a minimum annual income of $14,400 or higher.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via Avant. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.

To qualify, applicants may need to provide the following documentation:

• Driver's license
• Applicants must have an active and valid checking account
  
• Proof of citizenship or residence permit
• Recent pay stubs
• Proof of income

What is the estimated funding time for a personal loan via Avant?

Avant will typically approve (or deny) a loan application within 0 hour and fund personal loans within 3 business days of approval.

Does Avant report loan payments to credit bureaus?

Avant may report credit data to the following credit reporting agencies:

• Equifax
• Experian
• Transunion