Where does Avant do business?

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

What range of rates does Avant offer?

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 0.95% to 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 from 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.

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 provide a credit approval decision in less than an hour and fund the loan within 1 and 3 days.

Does Avant report loan payments to credit bureaus?

Avant reports credit data to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

How does Avant describe itself?

We love what we do. Over 600,000 customers have been helped by transparent & convenient personal loans.

  • Institution Type
    Other Institution
  • Bank Account Required?
  • Credit Score Range
    580 - 740
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Joint Loan Applications Accepted
    Only Individual Applications
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Age
  • Minimum Annual Income
  • Supported Income Types
    • 1099 Misc. Income
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
  • Verification Documents Required?
    • Proof of Income
    • Recent Pay Stubs
    • Driver License (or other photo ID)
    • Proof of citizenship/residence
  • Late Fee After (number of days)
  • Late Fee Amount
  • No Prepayment Fee
  • Origination Fee
    0.95% - 4.75%
  • Credit Bureau Reporting
    • Equifax
    • Experian
    • TransUnion
  • Funding Time Range (in days)
    1 - 3
  • Payment Options
    • Automatic Payments
    • Check by mail
    • Credit/Debit Card
  • Pre-Approved Soft Credit Inquiry
  • Loan Amount
    $2000 - $35000
  • Loan Term (Months)
    24 - 60
  • APR
    9.95% - 35.99%
Actual loan amounts, term, and annual percentage rate (APR) vary based on credit history, current income, ability to repay, and other factors. For example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33. If approved, the actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. Funds are generally deposited via ACH for delivery next business day if approved by 4:30pm CT Monday-Friday. Avant branded credit products are issued by WebBank, member FDIC.
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