Avant Review
Avant
Avant, LLC
APR Range 9.95% - 35.99%
Loan Amount
$2,000 - $35,000
Term Length 24 - 60 months
Loan Type personal
Pros
- ✓ Fair-credit friendly (typical applicants have FICO 600-700)
- ✓ No prepayment penalty
- ✓ Mobile app for managing payments
- ✓ Fast funding (often next business day)
Cons
- ✗ Administrative fee up to 4.75% deducted from loan
- ✗ Not available in CO, HI, IA, NY, VT, WV
- ✗ Higher rates than top-tier lenders for excellent credit
Where Avant fits
Avant has carved out a niche serving borrowers in the FICO 600-700 range — applicants who fall between prime borrowers (who get the lowest APRs at any bank) and subprime borrowers (who often only qualify for installment lenders like OppLoans). For this group, Avant is competitive on APR and approval rates.
Best for
- Borrowers with FICO 600-700 looking to consolidate higher-rate debt
- Anyone wanting a mid-sized loan ($5,000-$15,000) at a predictable monthly payment
- Borrowers who value a clean mobile app for loan management
Watch out for
The administrative fee (up to 4.75% of the loan amount) is deducted from your funded amount — so a $10,000 loan delivers around $9,525 to your account. That fee is included in the APR but worth understanding upfront. Compare Avant’s total cost-of-loan to Upstart or LendingPoint before deciding.
Requirements
- At least 18 years old
- Valid Social Security number
- Verifiable income (typically $1,200/month minimum)
- Active checking account