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6 top loans like Avant
Six unique options to choose from — with similar requirements and fees.
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Best Loans For
Avant is a Chicago-based online lender that provides personal loans from $2,000 to $35,000 for almost any legitimate use. Rates range from 9.95% to 35.99%, and borrowers have between 2 years to 5 years to pay back the loan.
Pros and cons of Avant
For more perspective on how these lenders compare, here are some places where Avant shines — and areas where it could be better.
Pros
- Accepts credit scores of 580+
- Loan terms as short as 24 months
- Works with self-employed borrowers
Cons
- Low maximum loan amount of $35,000
- High minimum interest rate of 9.95%
- Recent lawsuit filed by the FTC
6 loans like Avant
- If you’re applying with a coapplicant: Upgrade
- If you want a lender that considers more than credit: Upstart
- If you’re looking for a peer-to-peer lender: Prosper
- If you’re applying with low credit: LendingPoint
- If you want to borrow a secured loan: OneMain Financial
- If you want to compare multiple lenders: Monevo
For applying with a coapplicant
Upgrade personal loans
3.98 / 5 ★★★★★
Upgrade offers larger loan amounts than Avant — and allows you to borrow just $1,000 if you need. While it does have slightly higher credit score requirements than Avant, its starting interest rate is much lower and it accepts coapplicants. You'll also be able to defer up to two payments through its hardship program. But there are only two loan terms — 36 or 60 months — and you could be stuck with a high origination fee of 8%.
- Large loans up to $50,000
- Low starting interest rate of 6.94%
- Accepts coapplicants
- Turnaround may take up to four business days
- Origination fee between 2.9% to 8%
- Only two loan term options
| Interest Rate Type | Fixed |
|---|---|
| Min. Credit Score | 600 |
| Turnaround Time | 1 to 4 business days |
| Maximum Loan Term | 5 years |
| Minimum Loan Term | 3 years |
| Min. Credit Score | 600 |
|---|---|
| APR | 6.94% to 35.97% |
| Max. Loan Amount | $50,000 |
For a holistic application process
Upstart personal loans
4.15 / 5 ★★★★★
Upstart is one of the few lenders that takes a holistic approach to lending. Rather than rely just on your credit score, it considers your education and work experience when you apply for a loan. Its interest rates start lower than Avant at 8.27%, and depending on your state, you may qualify with a credit score of 580. But its loan terms are limited to 36 or 60 months, and you may be stuck with a high origination fee up to 8%.
- Works with limited credit history
- Large loans up to $50,000
- Holistic underwriting process
- High origination fee up to 8%
- Only two loan term options
- Starting loan amount varies by state
| Interest Rate Type | Fixed |
|---|---|
| Min. Credit Score | 580 or 600 depending on state of residence |
| Turnaround Time | 1 to 3 business days |
| Maximum Loan Term | 5 years |
| Minimum Loan Term | 3 years |
| Min. Credit Score | 580 or 600 depending on state of residence |
|---|---|
| APR | 8.94% to 35.99% |
| Max. Loan Amount | $50,000 |
For peer-to-peer loans
Prosper personal loans
3.42 / 5 ★★★★★
A peer-to-peer lender, Prosper offers slightly larger loans than Avant — up to $40,000. You can use it to consolidate your debt, start a business, improve your home and more. But you'll need to have fair credit to qualify — and there's a chance you could be stuck with an origination fee between 2.41% to 5%.
- Offers loans up to $40,000
- Competitive interest starting at 7.95%
- Accepts debt-to-income ratio of 50%
- Long turnaround of at least four days
- Origination fee between 2.41% to 5%
- Requires credit score of 640+
| Interest Rate Type | Fixed |
|---|---|
| Min. Credit Score | 640 |
| Turnaround Time | Up to five business days |
| Maximum Loan Term | 5 years |
| Minimum Loan Term | 3 years |
| Min. Credit Score | 640 |
|---|---|
| APR | 7.95% to 35.99% |
| Max. Loan Amount | $40,000 |
For borrowers with low credit
LendingPoint personal loans
3.3 / 5 ★★★★★
LendingPoint is one of the few personal loan options beside Avant to accept credit scores as low as 585. But because of this, it has a higher starting interest rate than Avant — and only allows you to borrow up to $25,000. However, its origination fee caps out at 6%, and you could opt for biweekly payments with a 24-month loan term to keep interest costs down.
- Loan term of 24 months available
- Competitive origination fee up to 6%
- Optional bimonthly repayments
- Low maximum loan amount of $25,000
- High starting interest rate of 9.99%
- Short maximum loan term of 48 months
| Interest Rate Type | Fixed |
|---|---|
| Min. Credit Score | 585 |
| Turnaround Time | As soon as 1 business day |
| Maximum Loan Term | 4 years |
| Minimum Loan Term | 2 years |
| Min. Credit Score | 585 |
|---|---|
| APR | 9.99% to 35.99% |
| Max. Loan Amount | $25,000 |
For secured loans
OneMain Financial personal loans
3.4 / 5 ★★★★★
OneMain Financial provides secured and unsecured loans, and you can choose to apply online or at a branch. If you choose to visit a branch, you could potentially receive your loan funds on the same day you apply. However, this comes with steep fees: Interest starts at an extremely hgih 18%, and you could have an origination fee of 10%. And unlike Avant, you'll only be able to borrow loans up to $20,000.
- Seven days to return loan funds
- Accepts coapplicants
- same-day turnaround available
- Interest rate starts at a high 18%
- Origination fee up to 10%
- Low maximum loan amount of $20,000
| Interest Rate Type | Fixed |
|---|---|
| Min. Credit Score | Varies |
| Turnaround Time | As soon as the same day |
| Maximum Loan Term | 5 years |
| Minimum Loan Term | 2 years |
| Min. Credit Score | Varies |
|---|---|
| APR | 18% to 35.99% |
| Max. Loan Amount | $20,000 |
For comparing lenders
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. There is no set minimum credit score, but borrowers with bad or fair credit are unlikely to qualify for its low advertised rates. And you may still receive marketing calls or emails after you find a lender.
- Loans starting at just $500
- Long loan terms up to 12 years available
- Quick online form
- Unlikely to qualify for lowest rates
- Not a direct lender
- May receive marketing phone calls and emails
| Interest Rate Type | Fixed |
|---|---|
| Min. Credit Score | None |
| Turnaround Time | Varies by lender |
| Maximum Loan Term | 12 years |
| Minimum Loan Term | 0.25 years |
| Min. Credit Score | None |
|---|---|
| APR | 3.49% to 35.99% |
| Max. Loan Amount | $100,000 |
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