Best Of Product
Avant Loans
Would you recommend Avant Loans to your friends?
| Community Rating | Strongly recommended |
| APR (Fixed APR) |
9.95% - 35.99% (Verified 03/04/2023)
|
| Loan Amount | $2,000 - $35,000 |
| Loan Term (Months) | 24 - 60 months |
| Number of Reviews | 706 |
Avant Loans Review
Avant Loans is offered by Avant LLC, a financial services company founded in 2012 and based in Chicago, IL. It is made possible by a bank partnership with WebBank. Avant Loans are available in 43 states (and Washington, DC).
Key Takeaways
- APRs starting at 9.95%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Avant Loans are on the higher end of the spectrum.
- Fast access to funds. If approved, you can sometimes get your money within 1 business day*.
- Prequalified rate. You can check your prequalified rate at Avant LLC with a soft pull that will not affect your credit score.
- Minimum income of $15,000. You will need an annual income of at least $15,000 to apply for Avant Loans, which is below average for the lenders in our database
Avant Loans Pros & Cons
| Pros | Cons |
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Avant Loans FAQ
What interest rates and personal loan terms does Avant Loans offer?
What interest rates does Avant Loans offer?
Avant Loans offers a fixed APR personal loan product that ranges from 9.95% APR up to 35.99% APR.
How much can you borrow via Avant Loans?
Personal loan amounts start at $2,000 and go up to $35,000.
What is the maximum loan term you can get with Avant Loans?
Avant Loans offers loans with terms of up to 60 months.
| Personal Loan Amount | $2000 - $35000 |
| Loan Term | 24 - 60 months |
| APR | 9.95% - 35.99% |
What fees does Avant Loans charge?
Does Avant Loans charge an origination fee?
Avant Loans may charge a personal loan origination fee of up to 4.75% of the personal loan amount.
Does Avant Loans charge a late fee?
Yes, Avant Loans may charge borrowers a late payment fee if you miss one of the monthly payments of up to $25, which is triggered if you're 10 days late.
Does Avant Loans charge prepayment fees?
No, Avant Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | up to 4.75% |
| Prepayment Fee | No |
| Late Payment Fee | $25 |
What do you need to qualify for Avant Loans?
Applicants with a credit score of at least 560 and up to 680 may be eligible for Avant Loans. The minimum age to be eligible is 19 or the state minimum, whichever is higher.To qualify for personal loans with Avant Loans, applicants need a minimum annual income of $15,000 or higher. Avant Loans only considers borrowers who are employed and meet the minimum income requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Avant Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Avant Loans.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid personal checking or savings account
- Recent pay stubs
- Proof of income
- Driver's license
- Proof of citizenship or residence permit
| Minimum Age | 19 |
| Bank Account Required? | Yes |
| Application Types Accepted |
|
| Credit Score | 560 - 680 |
What is the estimated funding time for a personal loan via Avant Loans?
Avant Loans will typically provide a credit approval decision in less than an hour and fund the loan within 3 business days.
Does Avant Loans report your account activity to credit bureaus?
Yes, Avant Loans reports your account activity to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
Are Avant Loans legit?
Avant LLC was founded in 2012, it is a well-established company that has been in business for 11 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
Message From Avant Loans
Message From Our Editor
Contact
- Headquarters
-
222 N. La Salle St., Suite 1700
Chicago, IL 60601 USA - (800) 712-5407
- Visit Site
- Email Support
Other Services by Avant LLC
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Washington
- Washington, DC
- Wisconsin
- Wyoming
Feature Breakdown
| Late Fee Amount | $25 |
| Late Fee Grace Period | 10 days |
| No Prepayment Fee | |
| Origination Fee (%) | Up to 4.75% |
Avant Loans Community Reviews
Would you recommend Avant Loans to your friends?
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