Avant is a Chicago-based online lender that provides personal loans from $2,000 to $35,000. Rates aren’t the lowest we’ve seen, starting at 9.95% and reaching up to 35.99%. There’s also an administration fee of 4.75%.
What may be most appealing is the low credit score requirement of 580 — comparatively, many lenders require scores well into the 600s for personal loans. Plus, it accepts self-employed borrowers.
But if you’d like a better deal or have the credit to qualify for a lower starting rate, we’ve gathered seven other providers similar to Avant. And there are other lenders that also accept fair and poor credit with lower starting rates.
Our 7 top picks for lenders like Avant
Alternative for fair credit: LendingPoint
LendingPoint personal loans
3.3 / 5
★★★★★
LendingPoint prefers a minimum credit score of 620 but also looks beyond your credit score to evaluate your creditworthiness. It offers unsecured personal loans with starting rates of 7.99% — lower than Avant's starting rate of 9.95%.
LendingPoint's personal loan amounts range from $2,000 to $36,500, slightly higher than Avant. However, LendingPoint does have a higher origination fee of up to 8%.
- Not available in: Colorado, Connecticut, Idaho, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New York, Vermont, West Virginia, Wisconsin, Wyoming
Pros
- Accepts fair credit
- Lower rates than Avant
- Higher loan amounts than Avant
- No prepayment penalty
Cons
- Origination fee up to 8%
- May require a higher credit score than Avant
| Loan amount | $2,000 to $36,500 |
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| APR | 7.99% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 620 |
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| Turnaround Time | As soon as 1 business day |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 2 years |
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| APR | 7.99% to 35.99% |
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| Min. credit score | 620 |
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| Loan amount | $2,000 to $36,500 |
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Alternative for poor credit: OneMain Financial
OneMain Financial personal loans
3.4 / 5
★★★★★
OneMain Financial is an online and in-store provider without fixed credit score requirements, making it available to borrowers of all credit scores. If you don't have the credit score to qualify for Avant, this provider might be worth looking into.
It also offers secured and unsecured loans, and securing a loan with collateral could get you a lower rate. However, OneMain Financial has higher rates than Avant overall, ranging from 18% to 35.99%.
There's also an origination fee of up to 10%. And unlike Avant, you can only borrow loans up to $20,000 instead of $35,000.
- Not available in: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont
* OneMain Disclosures:
Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
Pros
- No minimum credit score requirement
- Secured and unsecured loans
- Same-day turnaround available
- Apply online or at a branch
Cons
- High rates
- Origination fee up to 10%
- Smaller maximum of $20,000
| Loan amount | $1,500 to $20,000 |
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| APR | 18% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | Not specified |
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| Turnaround Time | As soon as the same business day |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 2 years |
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| APR | 18% to 35.99% |
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| Min. credit score | Not specified |
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| Loan amount | $1,500 to $20,000 |
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Alternative for a smaller loan: OppLoans
OppLoans Installment Loans
4.7 / 5
★★★★★
OppLoans offers short-term loans in small amounts, as low as $500 up to $4,000. Terms are very short, from 9 to 18 months. OppLoans doesn't have a minimum credit score requirement, whereas Avant requires at least 580.
Interest rates run at 160% APR. Despite the cost, OppLoans gets mostly positive reviews, many specifically praising its customer service and fast process.
- Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia
Pros
- $500 minimum amount
- No credit score requirement
- Highly rated in customer reviews
Cons
- High APRs
- Rates and loan amounts vary by state
| Loan amount | $500 - $4,000 |
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| Interest rate type | Fixed |
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| Loan Term | 9 to 18 months |
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| Turnaround time | As soon as the same business day. |
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| Loan amount | $500 - $4,000 |
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| Turnaround time | As soon as the same business day. |
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| Online application | Yes |
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Alternative for a peer-to-peer loan: Prosper
Prosper personal loans
3.4 / 5
★★★★★
Prosper is pretty comparable to Avant, offering personal loans with lower starting rates from 8.99% to 35.99%. The minimum credit score requirement is 640, higher than Avant's 580. Prosper offers bigger loan amounts than Avant, up to $50,000, and comes with a comparable origination fee of 1% to 7.99%.
The biggest difference with Prosper is that it's a peer-to-peer lender, so an individual investor funds the loan.
- Not available in: Iowa, North Dakota, West Virginia
Pros
- Low starting rate
- $50,000 maximum loan amount
- Next-day funding available
Cons
- Higher credit score requirement than Avant
- Origination fee 1% to 7.99%
| Loan amount | $2,000 to $50,000 |
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| APR | 8.99% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 640 |
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| Turnaround Time | Up to 14 business days |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 3 years |
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| APR | 8.99% to 35.99% |
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| Min. credit score | 640 |
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| Loan amount | $2,000 to $50,000 |
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Alternative for if you’re new to credit: Upstart
Upstart personal loans
4.2 / 5
★★★★★
Upstart has a unique underwriting process with its own algorithms, specifically catering to borrowers with new credit history or lower credit scores. While your credit score matters to the loan application, Upstart also considers alternative factors like your work history and education.
It offers a higher maximum loan amount than Avant of $50,000 and a lower starting rate of 7.8%. However, you may have to plan for a high origination fee of up to 12% of the loan amount. And there are only two terms to choose from: three or five years.
- Not available in: West Virginia
Pros
- Considers alternative credit factors
- Starting rates lower than Avant
- No prepayment penalty
- Funding as soon as one day
Cons
- Origination fee up to 12%
- Only two term options
| Loan amount | $1,000 to $50,000 |
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| APR | 7.80% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 300 |
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| Turnaround Time | 1 to 3 business days |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 3 years |
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| APR | 7.80% to 35.99% |
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| Min. credit score | 300 |
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| Loan amount | $1,000 to $50,000 |
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Alternative for when you have a cosigner: Achieve
Achieve personal loans
3.4 / 5
★★★★★
Not many lenders accept cosigners on personal loans, but Achieve does. Previously FreedomPlus, it has a low credit score requirement of 620 and ARPs starting at 8.99% — a higher credit score requirement than Avant but a lower starting rate.
You can add a cosigner if you'd like to try for a lower rate or increase your chance of approval. And if you're consolidating debt, Achieve offers a rate discount of up to 6% if it sends at least 85% of the funds directly to your creditors. However, Achieve's origination fee is slightly higher than Avant — up to 6.99% — and most customers pay the max fee.
- Available in: Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington
Pros
- Accepts cosigners and coapplicants
- Rate discounts for debt consolidation and coapplicants
- Low 600 credit score requirement
- Lower rates than Avant
Cons
- No autopay discount
- Origination fee up to 6.99%
| Loan amount | $5,000 to $100,000 |
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| APR | 8.99% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 620 |
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| Turnaround Time | 1 to 3 business days |
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| Maximum Loan Term | 5 years |
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| Minimum Loan Term | 2 years |
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| APR | 8.99% to 35.99% |
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| Min. credit score | 620 |
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| Loan amount | $5,000 to $100,000 |
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Go to site
Alternative for comparing multiple lenders: Monevo
Monevo personal loans
4.4 / 5
★★★★★
Monevo is a connection service, not a direct lender, so you'll have the chance to find a wide variety of loans you might qualify for. After completing a few-minute online form, you can quickly compare lender offers that may fit your situation.
There's no set minimum credit score, but borrowers with bad or fair credit are unlikely to qualify for its low advertised rates. And like many other connection services, you may receive marketing content from lenders after completing the free online form.
Pros
- Loans starting at only $500
- Long loan terms up to 12 years available
- Quick online form
Cons
- Unlikely to qualify for lowest rates
- Not a direct lender
- May receive marketing phone calls and emails
| Loan amount | $500 to $500,000 |
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| APR | 5.40% to 35.99% |
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| Interest Rate Type | Fixed |
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| Min. credit score | 300 |
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| Turnaround Time | Varies by lender |
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| Maximum Loan Term | 12 years |
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| Minimum Loan Term | 0.5 years |
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| APR | 5.40% to 35.99% |
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| Min. credit score | 300 |
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| Loan amount | $500 to $500,000 |
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Compare more personal loans
Compare more top lenders by their rates, loan amounts and credit score requirements. Select Go to site to learn more about a provider or More info to read an expert review. You can also select the Compare box to compare up to four lenders side by side.
How Avant compares
Avant is a lender that primarily focuses on borrowers with less-than-ideal credit. For a provider that accepts credit scores as low as 580, its starting rates are pretty low compared to many other lenders that cater to poor credit. Avant also accepts self-employment income, a rarity among personal loan providers.
However, many other personal loan providers offer much higher loan amounts, often up to $50,000. Avant only allows up to $35,000. And in 2019, the Federal Trade Commission (FTC) sued Avant for false advertising on its payment methods, but it was settled and affected customers received refunds.
For more information, check out our full Avant review.
Pros
- Accepts credit scores of 580+
- Loan terms as short as 12 months
- Works with self-employed borrowers
Cons
- Low maximum loan amount of $35,000
- Recent lawsuit filed by the FTC
- Administration fee of 4.75%
Is Max Personal loans legit? Can’t find an address or phone number.
Hi Chester,
Thank you for reaching out to Finder.
Though we could not provide feedback on the legitimacy of a company since we are a comparison and general information website. You may want to check online feedback forums as well as online review pages to learn more about this company. Hope this helps!
Cheers,
Reggie