Avant 2025 Personal Loan Review

Avant is an online lending platform that provides unsecured personal loans up to $35,000 through WebBank. The lender has a low credit score requirement, which allows bad- and fair-credit borrowers to qualify.

Avant’s personal loan rates and fees are consistent with other bad-credit loans. While its loans have fast funding, they lack other consumer-friendly features, like rate discounts or the ability to add a co-applicant or collateral to the loan.

» MORE: Compare top personal loan lenders and rates

Avant personal loans at a glance

• Disclosure from AvantDisclosure from Avant

  Loan amounts range from $2,000 to $35,000. APR ranges from 9.95% to 35.99%. Loan lengths range from 24 to 60 months. Administration fee up to 9.99%. If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state. Administration fee is deducted from the loan proceeds and paid to the Lender. Any administration fee of 5% or less of the initial loan amount is not refundable. Administration fee amount in excess of 5% of the initial loan amount is refundable on a prorated basis over the remaining term of the loan when and if the loan is paid in full prior to its original maturity date. A partial prepayment does not trigger a refund of any administration fee amount. Borrower recognizes that the Administration fee is deemed part of the loan principal and is subject to the accrual of interest. Example: A $5,700 loan with an administration fee of 9.99% and an amount financed of $5,130.57, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $217.66. Personal loan funds are generally deposited via ACH for delivery next business day if approved by 4:30 pm CT Monday-Friday. New Mexico consumer brochure (https://assets.ctfassets.net/vrxttq978is8/1eS8eJhH54ycK7fhPa7hUk/bd189960ce122598d8c7551d2fb96fad/NM_Consumer_Information_Brochure_and_Loan_Rate_and_Fee_Disclosure.pdf) for common terms and definitions and regulations around rates and fees. Avant branded credit products are issued by WebBank.

Where Avant personal loans stand out

Accepts borrowers from across the credit spectrum: While Avant says its borrowers typically have credit scores ranging from 600 to 680, it accepts applicants with thin credit profiles and scores as low as 550.

Low income requirement: Avant only requires applicants to have a monthly net income above $1,200 to qualify for a personal loan.

Next-day funding: Avant says it usually approves qualified personal loan borrowers within seconds and often deposits the funds the following business day if the loan is approved before 4:30 p.m. Central Standard Time.

Hardship program for borrowers in need: Borrowers who face financial difficulties while paying off a personal loan from Avant may be able to defer their payments, extend their loan term or temporarily reduce their monthly payment amount.

Seven-day customer support: Avant’s customer service representatives are available from 7 a.m. to 10 p.m. CST on weekdays and from 7 a.m. to 8 p.m. CST on weekends.

Where Avant personal loans fall short

Charges an origination fee: Avant may charge an origination fee up to 9.99%. The lender refers to it as an administration fee and deducts it from the loan amount before sending the funds, reducing the loan size.

No co-signed, joint or secured loan option: Avant doesn’t allow borrowers to add a co-signer or co-borrower to their application, or to secure the loan with collateral. Some lenders allow applicants to add collateral or a co-applicant to improve their chances of qualifying or getting a lower interest rate.

No rate discount: Avant doesn’t offer any chances to get a discounted annual percentage rate (APR). Many lenders offer a rate discount for setting up automatic payments — typically a fraction of a percentage point.

Does not offer large loans: The maximum amount you can borrow with an Avant personal loan is $35,000, meaning it may not be an ideal financing option for a major home improvement project or to consolidate a large amount of debt.

No direct payment to creditors with debt consolidation loans: If you’re using the loan to consolidate debt, Avant does not give the option to send loan funds directly to your creditors. If approved, you will receive the money and must arrange the payments yourself.

How to use Avant personal loans

Do you qualify for an Avant personal loan?

Avant says its target audience tends to have credit scores between 600 and 680, though it may accept borrowers with lower scores. Avant personal loans are not available to residents of CO, HI, IA, ME, MA, NY, VT, WA or WV.

Avant’s borrowing requirements

• Minimum credit score: 550.

• Minimum monthly net income: $1,200.

• Must have a Social Security number, valid U.S. bank account and email address.

• Must not be in active bankruptcy.

Avant’s average borrower snapshot

• Average borrower’s credit score: 640.

• Average monthly net income: $5,500.

• Average loan amount: $10,000.

• Average APR: 26.5%.

• Average loan term: 45 months.

• Most common loan purpose: Debt consolidation.

» MORE: How to get a personal loan

How we rate Avant

NerdWallet writers and editors rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s how we scored Avant this year: