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Avant Personal Loans Review
Reviews 32,148
Lender type: Online lending company
Loan types: Unsecured
Loan amounts: $2,000-$35,000
Loan terms: 24-60 months
APR range: 9.95% - 35.99%
Best for: Borrowers with bad to fair credit who need funds fast
Avant personal loans is known for its accessibility, user experience, and customer service availability. Its higher starting APR and origination fees brought down its score in the “costs” category.
Read our full Avant personal loan review to learn more about where the lender outperforms or underperforms its competitors.
Avant is a financial technology company headquartered in Chicago, Illinois, offering personal loans and credit cards through its partner, WebBank. Avant was founded in 2012 with the stated goal of “improving the borrowing experience for middle-income consumers” and says it has helped more than 2 million people secure funding.
Avant is accredited through the Better Business Bureau (BBB) and has an A+ rating. However, Avant’s average BBB review score is 1.06 out of 5, based on over 260 reviews, which is below the industry average of 2.19. The company’s Trustpilot reviews are better, with an average score of 4.4 out of 5, based on nearly 32,000 reviews, which exceeds our computed industry average of 3.55.
Avant scored 661 out of 1,000 points in J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study, lower than the study average of 704.
While there aren’t clear credit score requirements listed on Avant’s website, a blog post suggests it requires a credit score of at least 550 for personal loans, which falls under the “poor” rating category, according to FICO.
The Avant personal loan minimum credit score is lower than many competitors, making its loans more accessible to borrowers who may be underserved by traditional lenders. However, a higher credit score improves your approval odds and the chances of securing lower Avant personal loan rates.
The company operates in 43 states, which is fairly standard for the industry. Avant personal loan requirements aren’t clearly listed on its website, but according to the aforementioned blog post, factors that impact your approval odds include your debt-to-income (DTI) ratio and income stability.
Self-employed loan applicants must submit their last 2 years of tax returns and tax transcripts to verify their income. Avant requires loan applicants to have a personal checking or savings account on file. Business bank accounts are not permitted. Again, all of these requirements are fairly standard among online lenders.
Avant offers loans from $2,000 to $35,000 with flexible repayment terms of 24 to 60 months, making them suitable for both short- and long-term borrowing needs. Avant offers loans as small as $2,000, which is lower than some competitors' minimum loan amount of $5,000.
Unlike some competitors, Avant doesn’t offer any interest-rate deductions for autopay sign-up or direct pay to creditors. Avant only offers unsecured loans, so you also can’t potentially qualify for a lower APR by offering collateral like a house or vehicle.
To help you understand what your monthly payment and total costs could look like, here are a few hypothetical examples based on a 20% APR and a $10,000 personal loan amount.
Term | Monthly Payment | Total Cost | |
Loan A | 2 years | $509 | $12,215 |
Loan B | 3 years | $372 | $13,379 |
Loan C | 4 years | $304 | $14,607 |
*Estimated payments and costs can vary depending on payment schedules, credit score, fees, and other costs.
APR range: 9.95% - 35.99%
Origination fees: Up to 9.99%
Prepayment penalty: No
Late fees: $25
Other notable charges? $15 dishonored payment fee
Avant’s personal loan rates vary, depending on various factors, including your credit score and overall risk profile.
Avant calls its origination fee an “administration fee,” which is up to 9.99% of the loan amount. Avant’s administration fee is on the high side.
Expert take: “For borrowers with lower credit scores or limited credit history, the primary concern is typically approval likelihood and access to funds, rather than securing the lowest possible interest rate … Lenders such as Avant are well-suited for this segment, as they accept lower credit scores and provide a relatively simple and accessible approval process.” — Nina Abazyan, banking professional and personal lending specialist
Avant also charges late fees and dishonored payment fees. It doesn’t charge prepayment penalties or balloon payments, though these charges have become less common throughout the industry in recent years.
Avant’s website clearly lists its personal loan APR ranges, loan terms, and loan amounts. It also has educational blog posts and an FAQ section. However, details on loan requirements are harder to find, since there isn’t a dedicated page for this information.
The Avant personal loan application process is entirely online, starting with free prequalification that lets you check your eligibility without hurting your credit score. When we tested this process, we found it relatively straightforward. After clicking the “Check Your Loan Options” button, Avant asked for personal details, such as name, address, and monthly housing payment.
We then provided additional financial information and entered the desired loan amount. Once we submitted these details, we received a decision within a few seconds.
In addition to providing reassurance that our credit score wasn’t impacted, Avant stated it would send us an email with more information, which arrived a few minutes later.
The email included a standard “we couldn’t offer you a loan” message, along with specific credit score details, and contact information in case we had questions about the decision. Avant also noted that applicants can retry the prequalification process after 30 days and mentioned that we might qualify for a loan through one of its partners. It provided a link to explore options on a third-party site.
Avant’s mobile app is on the Apple App Store and Google Play Store, and highly reviewed on both. Its App Store rating is 4.8 out of 5 based on 100,000 reviews, and its Google Play Store rating is 4.7 out of 5 based on over 49,000 reviews.
The app is best for existing Avant customers, however, as it lets you manage your account, make loan payments, and view your payment history. You can’t apply for a loan through the Avant mobile app, unlike some competitors, such as SoFi, that have that functionality.
Expert take: “For borrowers with lower credit scores, Avant provides relatively fast approval and funding, while maintaining accessibility.” — Nina Abazyan, banking professional and personal lending specialist
Avant customer service representatives are available by phone Monday through Friday at 800-712-5407 from 7:00 a.m. to 10:00 p.m. CT, and Saturday and Sunday from 7:00 a.m. to 8:00 p.m. CT.
Personal loan application support hours are Monday through Sunday, 7:00 a.m. to 8:00 p.m. CT. Unlike some competitors, Avant doesn’t offer live chat.
When testing Avant’s support channels, we found the company to be responsive via phone and email. We reached a customer support representative by phone in under two minutes. When we asked a question via email, we received a response within two hours, which was faster than expected.
Avant has more than 32,000 reviews across Trustpilot and the BBB. Positive Avant reviews emphasize the company’s simple application process and overall user experience.
One Trustpilot customer review stated, “Avant is the easiest loan company to do business with. This is my second loan, and I’m very impressed with the process and speed my application was approved. My money was in the bank the next day.”
Some negative Avant reviews mention dissatisfaction with customer service representatives and issues with autopay. Unlike a few other lenders, Avant doesn’t appear to respond to negative reviews on Trustpilot or the BBB.
We thoroughly analyzed Avant against 35 criteria across five categories, including:
Company reputation: We paid close attention to Avant’s reputation, consulting industry reports and rating agencies like J.D. Power, the BBB, and Trustpilot. We also looked at how long Avant has been in business.
Accessibility and flexibility: We looked at how accessible Avant’s products are, considering geographic availability and minimum credit score, as well as loan amounts and repayment terms.
Costs: We evaluated Avant’s APRs and fees (including prepayment penalties and late fees) and compared them to competitors and industry standards.
User experience: We assessed whether prequalification is available, how streamlined Avant’s application process is, and how quickly it can disburse funds.
Customer support and service: We reviewed the availability and responsiveness of Avant’s customer support channels, including phone and email.
Avant personal loans can be a solid option for low-credit borrowers looking for unsecured loans. Borrowers may appreciate Avant’s flexible loan amounts and repayment terms, providing options for both short and long-term needs.
Avant also offers fast funds disbursement, with funds available as soon as the next business day if fully approved. If you’re unsure whether you’d qualify for an Avant personal loan, consider going through its prequalification process, which won’t hurt your credit score.
Since Avant is designed for people with lower credit scores, its APRs can be higher than those of some competitors. If you have a good credit score, you may be able to find a better deal elsewhere.
Avant is a reputable personal loan provider. It has an A+ rating with the BBB and an average Trustpilot rating of 4.4 out of 5. Avant also has high ratings on the Apple App Store and Google Play Store.
While Avant’s minimum acceptable credit score is 550, most Avant customers have scores between 600 and 700. Avant’s minimum credit score requirement is less strict than many competitors, making it a good option for borrowers with lower credit scores.
Avant is a privately-owned financial technology company based in Chicago. The company was founded by Al Goldstein, John Sun, and Paul Zhang in 2012.
222 N. LaSalle St., Suite 1600
Chicago, Illinois 60601
