* The actual loan amount, term, and APR amount of loan that a customer qualifies for may vary based on credit determination and state law. Minimum loan amounts vary by state.
First, am I eligible?
To qualify for a loan through Avant, you must meet the following requirements:
- Credit score of at least 580
- Valid bank account
- Proof of steady income
- Live in eligible state
- US citizen or permanent resident
- At least 18 years old — 19 in Alabama
Pros
- Open to borrowers of all credit types
- Self-employed income accepted
- Preapproval won’t impact your credit
- Available in all states except Colorado, Iowa, Vermont and West Virginia
Cons
- High rates ranging from 9.95% to 35.99%
- Administrative fee of 4.75%
- Low maximum loan amount of $35,000
- Recently settled lawsuit with the FTC
Compare Avant to other personal loan options
What do customers say about Avant?
| BBB accredited | Yes |
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| BBB rating | A- |
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| BBB customer reviews | 1.5 out of 5 stars, based on 102 customer reviews |
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| Trustpilot score | 4.7 out of 5 stars, based on 9,349 customer reviews |
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| Customer reviews verified as of | 04 November 2019 |
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Avant has an A- rating due to the high number of customer complaints and recent government action taken against it. But it does better on Trustpilot — borrowers compliment its easy application process.
Must read: Avant recently settled a lawsuit with the FTC
In April 2019, Avant was ordered by the FTC to pay $3.85 million, which will be returned to borrowers who were harmed by Avant’s poor business practices. These included:
- Problems with its loan servicing platform
- Unauthorized withdrawals from consumer accounts
- Failure to credit payments made by check
- Failure to accept debit and/or credit card payments
- Inaccurate payoff amounts listed on borrower accounts
- Demanding additional payments after borrowers paid off a loan
- Forcing borrowers to agree to recurring automatic debits
How do I apply?
Avant has a simple one-page preapproval application that makes it easy to see what rates and terms you might qualify for. Follow these steps to get started:
- Click Go to Site to be redirected to Avant’s application page
- Click Check Your Loan Options to start your application.
- Fill out information about yourself, including your date of birth, address and Social Security number. Avant also requires you to create an account and supply information about your income.
- Read over the terms of use and other agreements, then click Agree and Check Your Loan Options.
What information do I need to apply?
To apply with Avant, you will need to provide some basic information:
- Social Security number
- Home address
- Monthly net income
- Date of birth
What happens after I apply?
Avant will then verify your information. If you qualify, you’ll receive more details on how to proceed with the application process. If not, Avant may suggest you fill out an application with one of its partner lenders instead.
How do repayments work with Avant?
Review your loan agreement to see how much you owe each month, when your repayments are due and what late payment fees you may be charged. You might want to consider setting up automatic payments so you don’t have to worry about making a payment each month.
While your APR and loan term are both fixed once you sign your contract, you may be able to refinance down the road for a potentially lower APR or more favorable loan term.
Not sure it’s right for you? Compare other lenders like Avant or learn more about how borrowing works with our guide to personal loans.
Frequently asked questions
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★★★★★ — Poor
We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.
Read the full methodology of how we rate personal loan providers.
Personal loan ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.
Read the full methodology of how we rate personal loan providers.
