Avant Personal Loans Review: 2026 Pros, Cons, Rates, and Alternatives

Avant Personal Loans Rates and Fees

Avant’s personal loan APRs range from 9.95% to 35.99%. According to Federal Reserve data, the average interest rate on a 24-month personal loan from commercial banks was approximately 12.35% as of Q4 2024. Avant’s floor rate of 9.95% sits below that average but is reserved for its most creditworthy applicants; borrowers with fair credit should expect rates significantly higher, often in the 20% to 35% range.

Avant charges an administration fee of up to 9.99%, which functions identically to an origination fee. This fee is deducted from the loan proceeds before disbursement. For example, on a $10,000 loan with a 5% administration fee, the borrower would receive $9,500 but owe payments and interest on the full $10,000. Some sources report the fee caps at 4.75% for certain loan products, but Avant’s own website discloses fees up to 9.99%, and the actual amount depends on creditworthiness, loan terms, and state law. The administration fee amount exceeding 5% of the initial loan amount is refundable on a prorated basis if the loan is paid in full before maturity.

Late payment fees are $25 in most states, charged if payment is more than 10 days past due. A $15 dishonored payment (NSF) fee applies when a scheduled payment is returned. There is no prepayment penalty. Avant does not offer any rate discounts for autopay enrollment, direct creditor payment, or any other borrower action. The table below illustrates the total cost of a $15,000 loan at two representative APRs.

Note: Figures are approximate and do not include the administration fee, which would reduce proceeds and increase effective cost.

Avant Personal Loans Loan Terms and Options

Avant offers personal loans from $2,000 to $35,000 with repayment terms of 24 to 60 months. Minimum loan amounts vary by state. The $35,000 maximum is lower than what most fintech competitors offer: Upgrade caps at $50,000, Upstart at $75,000, and SoFi at $100,000. For borrowers who need to consolidate large balances or fund major projects, this ceiling may be a constraint.

Avant does not accept co-signers, co-borrowers, or joint applications. Borrowers must qualify entirely on their own creditworthiness and income. The company also does not offer secured loan options; there is no way to pledge a vehicle or other asset to improve terms or approval odds. This contrasts with Upgrade and OneMain Financial, both of which offer secured pathways for borrowers in similar credit ranges.

Loan funds can be used for most purposes, including debt consolidation, home improvement, medical expenses, major purchases, and emergencies. Avant prohibits using loan funds for business expenses, post-secondary education costs, investments, gambling, or illegal activities. There is no direct payment to creditors for debt consolidation; if you plan to use the loan to pay off credit cards, the funds go to your bank account, and you handle the payoffs yourself. Avant does offer hardship options for borrowers who experience financial difficulty, including payment deferrals, term extensions, and temporary payment reductions. Active-duty military members can access Servicemembers Civil Relief Act (SCRA) protections.

Avant Personal Loans Eligibility and Application

Avant does not publicly disclose a hard minimum credit score, but the company states that most approved borrowers have FICO scores between 600 and 700, and borrowers with scores as low as 550 may qualify. The minimum monthly net income requirement is $1,200. To be eligible, applicants must be U.S. citizens or permanent residents (or hold a valid long-term visa), be at least 18 years old, hold a valid Social Security number, and have a U.S. checking or savings account at a bank or credit union.

Prequalification is available online with a soft credit pull. Borrowers provide basic personal information, income details, and the desired loan amount. If prequalified, Avant presents one or more loan offers showing APR, term, monthly payment, and administration fee. A hard credit inquiry occurs only when the borrower accepts an offer and moves to the formal application stage. Required documentation may include pay stubs, bank statements, and government-issued photo ID. Avant may also verify employment by contacting the borrower’s employer.

Avant is licensed to lend in approximately 43 states. The company does not offer personal loans in Colorado, Hawaii, Iowa, Maine, Massachusetts, New York, Vermont, Washington, or West Virginia. The entire process is conducted online with no physical branch locations.

Avant Personal Loans Funding Speed

Funding speed is one of Avant’s competitive strengths within the subprime lending space. Loans approved before 4:30 p.m. CT, Monday through Friday, are generally funded via ACH deposit by the next business day. The decision process itself is fast: many borrowers receive a prequalification decision within minutes and a final approval decision shortly after submitting documentation.

The timeline may be extended if Avant requests additional documents for income or identity verification. The company does not disclose a specific maximum review period for these requests, but the overall average funding time from application to deposit is approximately two to three business days based on available closed loan data. Weekend and holiday submissions will not fund until the next business day.

Avant Personal Loans Customer Experience

Avant scored below the industry average in the J.D. Power 2025 U.S. Consumer Lending Satisfaction Study, a pattern consistent with several subprime-focused fintech lenders. On third-party review platforms, Avant’s ratings are split. Trustpilot shows a 4.5 out of 5 rating based on over 31,000 reviews, with praise focused on fast approvals, a simple application process, and accessibility for borrowers with low credit scores. The BBB profile tells a different story: Avant holds an A rating with BBB accreditation, but customer reviews on the BBB site average roughly 1 out of 5 stars, with 1,184 complaints filed over the past three years.

The CFPB received 32 personal-loan-related complaints about Avant in 2024, with the most common issue involving problems when making payments. Avant responded to all complaints in a timely manner. Common complaints across platforms include payment processing issues, autopay glitches, account access problems, and difficulty reaching supervisors in customer service. Avant’s mobile app is available on iOS and Android, with a 4.8-star rating on the Apple App Store (136,000+ ratings) and a 4.2-star rating on Google Play (22,000+ reviews). Customer service is available seven days a week: Monday through Friday, 7 a.m. to 10 p.m. CT, and Saturday through Sunday, 7 a.m. to 8 p.m. CT, via phone and in-app support.

Avant Personal Loans: Financial Strength and Reputation

Avant is a privately held fintech company that has raised approximately $905 million in equity funding across 13 rounds, with a last reported valuation of $1 billion. Its most recent equity round was a $250 million Series E in December 2022, led by Ares Management. The company also maintains debt financing facilities for loan origination. Avant’s loans are issued through WebBank, an FDIC-insured Utah-chartered industrial bank. The company employs approximately 550 to 850 people across its Chicago headquarters and other offices.

Avant holds an A rating from the BBB and has been accredited since 2015. Its Trustpilot score is 4.5 out of 5 based on over 31,000 reviews. However, Avant’s regulatory history includes a notable blemish: in April 2019, the company paid $3.85 million to settle FTC charges related to deceptive loan servicing practices, including unauthorized charges and failures to properly process payments. The settlement does not involve any admission of wrongdoing, but it is a relevant data point for borrowers evaluating the company’s track record.

Who Is Avant Best For?

Avant is a good fit for:

• Subprime and fair-credit borrowers (550 to 669): Avant’s low credit score floor and low income requirement make it one of the most accessible online lenders for borrowers who get declined elsewhere.
• Borrowers who need money fast: Next-business-day funding for loans approved before 4:30 p.m. CT makes Avant a reasonable option for time-sensitive needs.
• Low-income borrowers: The $1,200/month ($14,400/year) minimum net income requirement is among the lowest in the market.
• Borrowers seeking an alternative to payday loans: Even at Avant’s highest rates, a 35.99% APR personal loan is far cheaper than typical payday or title loan products.
• Borrowers who need hardship flexibility: Avant’s payment deferral and term extension options can help borrowers weather temporary financial setbacks.

Avant may not be the best fit for:

• Borrowers with good or excellent credit (670+): Avant’s rates are among the highest for borrowers above the fair-credit range. Upgrade, LendingClub, and SoFi will almost certainly offer better terms.
• Borrowers who want to avoid origination fees: Avant charges up to 9.99%. SoFi, LightStream, Discover, and Wells Fargo charge no origination fee.
• Borrowers who need more than $35,000: The loan cap is lower than most competitors.
• Borrowers who benefit from a co-signer or secured loan: Avant offers neither option. Upgrade and OneMain Financial both accept co-borrowers and collateral.

How to Apply with Avant Personal Loans

1. Check your options: Visit Avant’s website and click “Check Your Options.” Provide your name, address, date of birth, Social Security number, monthly income, housing payment, and desired loan amount. This step uses a soft credit pull with no impact on your credit score.
2. Review your offers: If prequalified, Avant will present one or more loan offers showing the APR, term, monthly payment, and administration fee for each option.
3. Select an offer and complete verification: Choose your preferred loan option. Avant will perform a hard credit inquiry at this stage. You may be asked to provide supporting documents such as pay stubs, bank statements, or government-issued ID. Avant may also contact your employer to verify employment.
4. Accept and sign loan documents: Review the final loan agreement, including the APR, administration fee, repayment schedule, and all terms. Sign electronically to proceed.
5. Receive your funds: If approved by 4:30 p.m. CT on a business day, funds are generally deposited via ACH by the next business day. Availability depends on your bank’s processing speed.

How Avant Compares

The table below shows how Avant stacks up against three competitors that also serve borrowers with fair or poor credit.

Final Verdict

Avant earns a 3.0 out of 5.0 in our scoring methodology. Its core value proposition is access: a credit score floor of around 550, a low-income requirement of $1,200 per month, next-business-day funding, and an entirely online process. For borrowers in the 550 to 669 credit range who have been turned down by mainstream lenders, Avant provides a legitimate, well-established path to personal loan funding that is substantially cheaper than payday or title loan alternatives.

The trade-offs are significant. The administration fee of up to 9.99% and the APR ceiling of 35.99% make Avant one of the more expensive options in our 15-lender review. The lack of co-signer options, secured loan pathways, rate discounts, or direct creditor payment means borrowers have no tools to lower their cost or improve their approval odds beyond their own credit profile. The company’s 2019 FTC settlement, while resolved, adds a note of caution to its regulatory history. And the below-average J.D. Power score, combined with a meaningful volume of BBB complaints about payment processing, suggests that the post-origination experience has room to improve.

If you have fair or poor credit and need a small to mid-size personal loan quickly, Avant is worth checking. Start by prequalifying with a soft pull to see your rate, then compare Avant’s offer side-by-side with Upgrade, LendingClub, and Upstart before accepting. If your credit score is 670 or above, you will almost certainly find better terms elsewhere.

Methodology

This review is part of a 15-lender personal loan review series. Each lender is scored across six weighted categories: Rates & Fees (25%), Loan Terms & Flexibility (20%), Eligibility & Accessibility (20%), Speed & Application Process (15%), Customer Experience (10%), and Transparency & Reputation (10%). The weighted score formula produces a single rating out of 5.0, rounded to the nearest 0.5. Data sources include lender websites, the CFPB Consumer Complaint Database, J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study, Federal Reserve interest rate data, BBB and Trustpilot profiles, app store ratings, and TransUnion Credit Industry Insights.