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).
Avant offers personal loans with APRs starting at 9.95% and up to 35.99%.
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.
Yes, Avant may charge borrowers a late payment fee of up to $25, which is triggered if you're 10 days late.
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.
Loan amounts start at $2,000 and go up to $35,000.
Avant offers personal loans with a maximum term of 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.
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:
Avant will typically provide a credit approval decision in less than an hour and fund the loan within 1 and 3 days.
Avant reports credit data to the following credit reporting agencies:
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