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Avant personal loans review

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Our verdict

A low-cost alternative to payday loans — but expect a high administrative fee.

On the fence? Compare your other personal loan options below.


  • Typically fast approval
  • Prepay your loan without additional fees


  • Maximum loan amount varies by state
  • May not be available in all states
  • You may pay late fees

In this guide

  • Our verdict
  • Details
    • Product details
    • Contact info
  • Your reviews
  • Ask a question's rating: 3.4 / 5.0


Bottom line: Avant offers a an alternative to short-term loans for eligible fair-credit borrowers. But you can likely find a better deal — and higher loan amounts — if your credit score is 670 or higher.


Product details

Min. Loan Amount $2,000
Loan Amount $35,000
APR 9.95% to 35.99%
Interest Rate Type Fixed
Min. credit score 580
Origination Fee Up to 9.99%
Late Fee $25
Loan term 12 to 48 months
Turnaround Time As soon as the next business day

Contact info

Phone number 800-712-5407
Customer service hours 7 a.m. to 10 p.m. CT, Monday through Friday
7 a.m. to 8 p.m. CT, Saturday and Sunday
Twitter @avant_forward
Facebook @avantforward

Our take on Avant

Avant personal loans are best for borrowers with less-than-perfect credit who may not qualify with lenders like SoFi or LightStream that require credit scores in the high 600s and up. With Avant, you only need a credit score of minimum 580 to qualify, and it accepts self-employed borrowers — which many other lenders don’t.

But be prepared to pay a relatively high administrative fee and high starting APR with Avant. For example, if you take out a $10,000 loan, you could pay up to $475 with a 9.99% administrative fee and upwards to 35.99% in interest. Other lenders may not charge these fees, so if you have a good credit score of 670 and above, you’ll likely find a better deal and lower rates elsewhere. And Avant won’t be able to help with loans over $35,000.

The company appears to get excellent ratings on Trustpilot from thousands of customers, who praise the company for a fast and easy application process. Some customers mention being able to get an Avant loan after other lenders reject their applications. But others report high interest rates and drawn-out applications.

Avant rates, fees and terms

Avant personal loans offers interest rates from 9.95% to 35.99% and come with an administration fee of up to 4.75%. Avant automatically deducts the administrative fee from your funds before transferring it to your bank account.

You can borrow between $2,000 and $35,000 and repay the loan over two to five years. Use the calculator below to see how much an Avant loan might cost you each month at different rates, terms and loan amounts.

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How Avant compares to other lenders

Here’s how Avant stacks up to two other lenders that also accept fair credit borrowers.

Avant personal loans

Upgrade personal loans


Finder rating 3.4 / 5


Finder rating 4 / 5

Go to site
Go to site


9.95% to 35.99%


8.49% to 35.99%

Loan term

12 to 48 months

Loan term

2 to 7 years

Loan amount

$2,000 to $35,000

Loan amount

$1,000 to $50,000

Min. credit score


Min. credit score


Avant reviews and complaints

BBB accreditedYes
BBB ratingA
BBB customer reviews1.14 out of 5 stars, based on 190 customer reviews
BBB customer complaints1004
Trustpilot score4.6 out of 5 stars, based on 23,977 customer reviews
Customer reviews verified as of02 April 2023

On Trustpilot, thousands of customers have left reviews for Avant, which are overwhelmingly positive. This is despite settling two lawsuits regarding its business practices in 2019 and 2021. The company gets a less favorable customer rating on the Better Business Bureau (BBB) website, although the number of ratings left is much lower than on Trustpilot.

Satisfied customers report being pleased with how easy it is to apply and how fast they received their funds. Less happy customers mention applications expiring before they could lock in a rate and receiving higher than expected interest rates. There are also several complaints related to the company’s credit card.

How to qualify

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

While the credit score requirement might be 580, Avant says the average customer has a credit score of 600 to 700.

What information do I need to apply?

To apply with Avant, you will need to provide some basic information and documents:

  • Social Security number
  • Home address
  • Monthly net income
  • Date of birth
  • Employer contact information
  • Proof of income, like a bank statement or pay stub

How the application works

To get prequalified, go to the Avant website and select Check Your Loan Options. You’ll be prompted to fill out a form with your contact and residence details, your Social Security number and income. According to the website, checking your eligibility won’t affect your credit score.

If approved, you’ll be shown different loan offers. Choose an offer and review the loan agreement to see your repayments, due date and applicable fees. If you’re not approved, Avant may suggest you fill out an application with one of its partner lenders instead.

How Avant debt consolidation works

With Avant, funds are deposited to your bank account and not sent to your creditors directly. This means you’ll need to contact your creditors to get the exact pay off amount for the day you intend to send your payment. This will help ensure that your payment covers the entire balance owed so you don’t keep accumulating interest.

According to the Avant website, funds are typically deposited via ACH and are delivered the next business day after your loan is approved, as long as it’s approved before 4:30 p.m. CT on weekdays.

How legit is Avant?

Avant is generally a legitimate lender. It’s an equal-housing lender that issues its loans through WebBank, a member of the FDIC. And it protects your information using SSL encryption and limits how it shares your information through its privacy settings — which you can adjust by calling in to customer service.

Avant lawsuits

In April 2019, Avant paid $3.85 million to borrowers as a settlement for a lawsuit over the way it handled loan repayments. The lawsuit alleged that Avant had engaged in the following practices, which are illegal according to federal law:

  • Unauthorized withdrawals from consumer accounts
  • Failure to credit payments made by check in a timely matter
  • Failure to accept debit and credit card payments
  • Inaccurately listing payoff amounts on borrower accounts
  • Demanding additional payments after borrowers paid off a loan
  • Forcing borrowers to agree to recurring automatic debits

And in 2021, Avant paid $1.6 million to the Local Consumer Aid Fund to settle allegations that it engaged in abusive collection practices, including not providing proper debt validation notices and making illegal debt collection calls to consumers.

Not sure it’s right for you? You can compare lenders like Avant or learn more about how borrowing works with our guide to personal loans.

Frequently asked questions

More information about Avant’s personal loans.

How do I cancel my application?

Cancel your application by email or phone. If you already received your loan, you can pay off your loan early, but you’ll have to pay any interest that’s accrued.

How do I take out a second loan before I pay off my current loan?

You can’t take out a second loan before your first loan is paid off. But you can refinance it with a larger loan, which can increase your loan amount.

But watch out — refinancing can extend your loan term, which means you’ll pay more in interest. With maximum rates as high as Avant’s, it can get expensive.

Back to top

See other personal loan options

Use this table to compare more options you might qualify for before deciding on Avant.

1 – 6 of 6
Name Product Filter Values APR Min. credit score Loan amount
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Upstart personal loans
Finder Score: 4.2 / 5: ★★★★★
Upstart personal loans
7.80% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
Finder Score: 4.4 / 5: ★★★★★
SoFi personal loans
8.99% to 29.99% fixed APR
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no required fees.
Finder Score: 4 / 5: ★★★★★
8.49% to 35.99%
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
LendingPoint personal loans
Finder Score: 3.3 / 5: ★★★★★
LendingPoint personal loans
7.99% to 35.99%
$2,000 to $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
Happy Money
Finder Score: 3.8 / 5: ★★★★★
Happy Money
11.72% to 24.50%
$5,000 to $40,000
Pay down your debt with a fixed APR and predictable monthly payments.

Personal loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor
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Personal loans from $2,000–$35,000. If approved, the actual loan amount, term, and APR that a customer qualifies for may vary based on credit determination and other factors. Avant branded credit products are issued by WebBank, member FDIC.

Your reviews

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Aliyyah Finder


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January 26, 2019

I use my PayPal account for everything. Even my work paycheck is direct deposited there. Meaning I have Acct number & routing number. I see that a “valid bank account” is a requirement. Does my PayPal info qualify?


Joshua Finder

January 26, 2019

Hi Daisy,

Thanks for getting in touch with finder. I hope all is well with you. :)

I understand that you want to know if PayPal can be considered as a valid bank account. Upon checking, PayPal is not a bank account, but rather it is more like a money transfer service provider. For this reason, Avant might not consider PayPal as a bank account. You may also directly get in touch with Avanta to learn more.

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

Have a wonderful day!



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Mary Ann

July 01, 2017

I have a loan with Avant now. Is it possible to get another for debt consolidation?



July 01, 2017

Hi Mary Ann,

Thanks for your question.

Yes, it’s possible to get another loan subject to the lender’s assessment of your eligibility for refinancing.

Warm regards,




June 20, 2017

Is it possible to take out a loan without an income if your husband can pay it off but can not have it in his name because we want to get a house and need the loan to cover closing costs?


haroldjacob Finder

June 20, 2017

Hi Kteetz,

Thank you for your inquiry.

Unfortunately no, if you’re interested in finding out your rate through Avant or submitting your application, click the “Go to Site” button. You will need to meet some initial eligibility criteria, which include:

– You must be a US citizen, a permanent resident or in the US on a valid long-term visa.

– You must be at least 18 years old.

– You must have a valid bank account.

You’ll also need to gather the following information before applying:

– Your name, contact information and date of birth.

– How much you want to borrow and the purpose of the loan.

– Your annual individual income.

I hope this information has helped.



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June 14, 2017

will a loan be approved with an open chapter 13 bankruptcy in good standing


anndymacaraeg Finder

June 15, 2017

Hi Brian,

Thanks for your question.

If you are currently bankrupt, some lenders may still consider you for a loan. Kindly note also that the fees and rates may be considerably higher on bankrupt loans.

If you are interested in exploring your possible options, please check out this page about bankrupt loans.



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June 05, 2017

On an Avant personal loan what is needed to verify annual income?




Anndy Finder

June 19, 2017

Hi Jamie,

Thanks for your question.

For self-employed borrowers, Avant requires two most recent years’ complete, official tax documentation.

For those employed by traditional means or are receiving benefits, Avant uses their online verification tool (OVT) to check your income. Moreover, if further verification is needed, they will directly contact you and inform you of other requirements.



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