Features

Avant, previously known as "Avant Credit," based in Chicago, provides access to online personal loans. It was launched in 2012 and operates in the United States and the UK. As of February 2016, the Avant platform reached over $3 billion in loan originations for over 400,000 customers.

All unsecured installment loans issues through Avant are made by WebBank, member FDIC.

What Are the Rates?

APRs vary from 9.95% to 35.99%. The rate you qualify for will depend on which state you live in, your credit history and the terms of your loan.

The Avant platform charges an origination fee of 0.95% to 4.75%.

To illustrate, a $6,500 loan with an origination fee of 3.75% and an amount financed of $6,256,25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $265.40.

How Much Money Can I Borrow through Avant?

Loan amounts vary from $1,000 to $35,000, and loan terms range from 24 months to 60 months. However, there are no prepayment fees. The actual loan amount you qualify for may vary based on credit determination and other factors. 

What Is the Application Process Like?

Once you fill in the online application form, you may have your reply within minutes. However, the approval process may take longer if additional documents are requested. If your loan is approved, the money could be in your bank account by the very next business day if approved by 4:30pm CT Monday-Friday. The form requires personal information, such as your full name, address, income and social security number.

How Is Avant Better Than Other Lending Platforms?

As far as APRs go, Avant is a middle of the road credit alternative that targets borrowers with fair to good credit who want access to fast cash. The application process can sometimes take minutes to complete. APRs range from 9.95% to 35.99% This allows a wide range of borrowers with varying credit scores to qualify for unsecured loans. Although the Avant platform does charge an origination fee, there are no prepayment fees for paying off your loan early.

* All unsecured installment loans issued through Avant are made by WebBank, member FDIC. Actual loan amounts, term, and annual percentage rate (APR) vary based on credit history, current income, ability to repay, and other factors.

  • APR
    9.95% - 35.99%
  • Credit Bureau Reporting
    TransUnion
  • Loan Amount
    $1000 - $35000
  • Payment Options
    Automatic Payments Check by mail
  • Max Loan Term (Months)
    60
  • Checking Account Required?
  • Immigration Status Requirements
    Must be U.S. Citizen or U.S. Permanent Resident
  • Lend To Military?
  • Minimum Age
    18
  • Verification Documents Required?
    Recent bank statements Recent pay stubs Driver license (or other photo ID) Proof of citizenship/residence
  • Customizable Payment Dates
  • Deferred Payments
  • Funding Time
    Next business day
  • Joint Loans Available
  • No Late Fees
  • No Origination Fee
  • No Prepayment Fee
  • Pre-Approved Soft Credit Inquiry
  • Origination Fee
    0.95% - 4.75%
  • Institution Type
    Marketplace Lender
SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Reviews

Write a Review

Sort by:

  • Rating
  • Date
  • Most Useful
0 votes

After getting a pre - approved offer, and I have an excellent credit rating, the loan they offered me was a joke, with a 21% interest rate. What kind of offer is that? With an excellent credit rating I cannot believe they wanted to charge me 21% interest rate. This place is ridiculous and a farce. Don't waste your time. It is not worth your time.


0 votes

I acquired a 3 yr loan with Avant in 2016, the amount was for $4250 or so, and I pay $191.91/monthly yet after 5 or more payments my balance is over $4500. I don't understand, my bill is deducted from my checking acct each month on the 9th, I would think that the loan would have reduced more at this point or is there more interest on it? I had no trouble getting the loan but find I am not getting farther ahead paying it off. Please would ... you review and get back to me. Or call me. More Less


0 votes

Poor customer service, loan offer expired before I was able to complete it, even though my credit score had been run..


0 votes

DO NOT USE Avant or Web Bank. Deceptive and ask you to upload documents before they run a credit check. I won't go into details, but DO NOT USE them.

1 votes

Received a $6,900.00 loan from them and took it out for 24 months, I have about 7 payments left and I like the app on your phone were you can schedule extra payments and I never had a problem with the company so I would highly recommend them.


0 votes

This is robery!!!! Do not under any circumstances go with this fraudulent company you will never pay them off!!!!!!!!


0 votes

Very promising from the advert,but costumer service staff very arrogant .Wish they will be more sensitive to staff.

0 votes

Sucks lies bs they lie u can't refinance stay away Thiefs freedom of SPEACH INT rate 36 percent .They bs u stay away u do not need them go to a cc they are easier and better 2 loans never again .They must gave out a lot crappy loans because now they raised it harder to qualify they must got a lot deadbeat loans seep what u sow u ripped a lot of people off use cc get out with them it's a lie smoke n mirrors fees change u ... have been warned do not use them not one good thing to say try others not them ! The truth ...wish I could give zero !! More Less


0 votes

The interest rate was high, but I needed the loan and got it. The application process was quick and easy. The decision was fast and I got funds the day after approval. This has been the easiest experience I have had with obtaining a loan.


0 votes

Avant offers consolidation loans at a higher interest than the credit cards you are trying to consolidate. I was fortunate enough that after my score increased due to the consolidation, I was able to refi a mortgage and pay off this high interest loans at 4 months instead of the 4 year term. I did overpay by almost $500 and have been fighting with them for 5 weeks to get a refund, with no response other than it was being "investigated". Customer Service is VERY poor.

0 votes

This company does not respond to any written communications. I like to keep all communications in writing so it's not a "he said, she said" type of thing but, instead, it's right there in black and white.

I was told upon signing up for this loan that so long as my payments were current, I could refinance at any time. I tried three times, but was denied, and this was before I became delinquent.

I became delinquent because I was unable to reach a person to take a payment ... over the phone, as they close early, and as I discussed with the last person I actually spoke with - I needed to make payments online. I was told that I would be able to make payments online, but their website would not allow me to do so, or I would not be in this position today.

I begged and pleaded with the CEO of the company. He did not respond, but merely passed my correspondence to the credit department. The credit department did not respond, they merely gave me an accounting of all of my payments.

I filed a formal complaint with the Better Business Buearu and all the company did was fight with me and tell me that I did not qualify for the refinance and they weren't willing to do anything at all to assist me.

They now are ruining my credit. After 18 months of non-payment, they refuse to close the account, but continue to report "x" number of 120 days late. I got this loan to improve my credit.
More Less

0 votes

Don't waste your time if a real person won't show there name in a review you know it's junk

0 votes

Canceled payment modification agreement and then reported me as not having made payments for 120+ days even though I had made the payments. Spoke today to Daniel Chung who is their director of compliance. He is super rude, disrespectful, and condescending. With leadership like him no wonder Avant's customer service team sucks.

Will be pursuing legal action against Avant.

0 votes

Received preapproval and promo code in mail. Very next day I apply and get rejected. Thanks avant!


1 votes

Avant sucks!!! I am looking into getting a lawyer. I paid my loan off in full and they never informed me of a fee for pushing one payment back.


1 votes

Quick to respond but fail to respect individual state interest laws. They charge 36% interest which our state caps loan interest at prime plus 10%


1 votes

I got to say how grateful I am I was not "qualified" accoding by avant for a 7,000 personal loan. If I would got it i would have to pay over $3,700 just on interest. so I went to my bank (Bank of america) and spoke with the specialist and they called for me the credit card company. My credit card (Bank of america cash rewards) that was a credit line of $3,000 with an APR of 17% was increased to $7,600 and they offer me 0.0%APR RATE till ... Dec 2016 and they tranfered for me my debts to this card and only charged me $188.00 transaction fee total!!!! so THANK YOU Avant for declining my application YOU save me OVER 3,500 in interest rate. :) More Less


2 votes

Was denied and they still send me letters of pre approval! If denied they should just not send anything.


1 votes

This loan allows you to pick the terms that meet your needs. I recommend this company to responsible people who are just having a hard time. Paying my credit cards off with one monthly note is great.


2 votes

I recently got a loan from this company and they had no problem putting the money in the bank account that I gave them but when it can't to taking the payment out they said that my bank info was bad so it was reported late to my credit!!!!! My info was never changed and the lady would NOT go over my info with me to verify!! Said that there is nothing that she could do! I'm very upset and do NOT suggest getting a loan from this company!!


1 votes

It was very easy to apply through Avant online. I contacted Customer Service with a question and they were extremely helpful in the process. I received my funds within 3 days to help consolidate debt and to me that was extremely quick. I would recommend Avant to anyone who needs a little help up. Thank you Avant.


1 votes

I needed funds fast and applied online. They offered lower interest rates than my bank of 15 years could give me. I was approved the next day and the money was in my account the next business day.


1 votes

When I first apply I throught that I would not get this loan.But avant gave it to me and I thing them.I would use them again my be for Christmas this years.


2 votes

I just learned that when making extra payments, they take part of the extra payment and apply it to interest! So on top of not being able to clearly see when your loan will be paid off, the very high interest rates (double that of Lending Club), 1/3(ish) of your extra payment isn't being applied to the principal balance. Made an extra payment of $300 - $232.16 was applied to principal - $67.84 was applied to principal. I feel taken advantage of and preyed up.


1 votes

I applied for consolidation of current debt. I applied for a $9,000 loan and was approved and the money cleared over night it was extreamly fast. I battled itentity fraud for years and still ended up in debt due to court and lawyer fees this is a great option for anyone in need of smaller monthly payments on current debt. The interest is high so only do this if it saves you money in the long run. Other than that Im completely satisfied!!


1 votes

Definitely satisfied with the promptness of the application process and the loan itself. Basic information given and basic verification, quick response and funding the next day.


1 votes

The interest rate sucks. But that's not why I got it. It was an easy application and I was approved immediately. I received the funds the next day. It's really good if you are in a pinch, and need quite a bit of money. Also, I like that the automatic payment PULLs the money from your bank account that day.most auto payments credit the payment to your account that day but don't actually take the funds from your bank account for 2-3 bd. This makes it easier to keep track ... of funds. the iOS app is good, too. It makes it easy to change payment dates/increase the amount. You can also see your loan contract and get a payoff quote from it. It's no frills but gives you all the information you could need. More Less


3 votes

I applied to this company plenty of times I don't get it. my credit score is not to bad it's in the 600's. I have a paying job. and doing my best to pay my expenses. I need just a little extra to finance my expenses. I haven't gotten approved once not even for a substanial small amount. I'm trying to make ends meet, but Im constantly struggling. I though I could get a little burden lifted off of me. This is not the case. I don't know how ... I am gonna survive becuase I haven't gotten any chances More Less


1 votes

Their rates are decent and they can help you when you need a little help - even if your credit isn't 800. Plus they didn't penalize me when I paid my loan off early like some places do


1 votes

Life has a funny way of sneaking up on you sometimes. My father passed away the day after my first grandchild was born and I needed to be in two places at once. I didn't have the money I needed for the airfare or to miss that much work, but Avant helped me avoid even more problems.


1 votes

As far as installment loans go, you wont find a better one than this. These people are truly helpful and are there for you in your time of need. I honestly dont know what I would have done without them.


1 votes

These guys are really easy to work with, and you can make extra payments to pay your loan off sooner. My credit isn't perfect but they approved me any ways. All I had to do to get the loan was send them proof of my income.


1 votes

I have nothing but good things to say about this company. I had to use them for two different loans in the past, and both times were hassle free. Their customer service team is awesome.


1 votes

Unfortunately I have had to take out several personal loans in the past. Of all the companies and I have ever dealt with, Avant is by far the best. Their customer service is awesome.


2 votes

After being irritated by Lending club, I am so nervous to apply for another loan online. I found Avant Credit and I was hesitant at first because I didnt want to have to submit tons of documents. I needed the money NOW and thats what happened with Avant. They were fast and easy...needed the money they approved a little less than I wanted but gave me that option! Applied at night and was approved by morning. There are so many lenders but if you want ... money fast without being hassled def use Avant Credit. Their website is very easy to navigate too. More Less


3 votes

it is a rip off. there is no option to pay extra toward principle, they don't provide you with disclosure, violating Truth in lending law. it is a fraud!


2 votes

Applied for a loan and was denied solely because apparently my roommate has a loan through Avant Credit--they have a one loan household rule. I can understand if this was a spouse or family member but to be penalized for this reason is beyond me. They have lost any future business from myself and my roommate.


1 votes

My experience with this company can only be described as so-so. Id hoped and thought that I would qualify for one of the loans with a max interest rate of 36%, but I didnt. My resulting interest rate, which was higher than 36%, didnt make me too happy. I needed the money, so I had to go through with it. Fortunately, I didnt take out too big of a loan, so I think I can pay it off pretty quick, so I can get rid of this interest rate.

1 votes

I can't believe it's true but I am finally getting ahead on my finances thanks to Avant. Changed my life.

1 votes

Avant Credit is a Chicago finance company. Its primary business is to provide loans to its customers. Avant offers loans to customers in all states and the District of Columbia except Maine, Vermont, Pennsylvania, Iowa, Kansas and North Dakota. Customers in Virginia, Maryland, Louisiana and Kansas may obtain lines of credit. Interest rates vary according to location, amount borrowed and credit rating. Avant Credit advertises that its loans can be disbursed as quickly as the next business day. But its interest rates and APR are lower than ... those of payday lenders. Nonetheless, Avant Credit has only a so-so B- rating from the Better Business Bureau, with 19 complaints filed within the past three years and 15 of those complaints filed within the past 12 months. The BBB report stated that the company had made a good faith effort to address the complaints, nonetheless, such a high number of complaints within such a short time frame is unsettling. More Less

Load More Reviews

New Review for Avant

Rate your experience:

Cancel

Other Personal Loans companies