Avant offers access to personal loans with a process that is almost entirely online. Avant understands that getting credit with a traditional bank loan can require a lot of up front paperwork and be extremely time consuming. Avant also knows that you don’t want to resort to a loan with payday high rates. With Avant’s quick application and friendly customer service, you could have the credit you need as soon as tomorrow morning! Apply today!
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Avant General Information:
Lender: Avant
APR: 9.95% – 36.00%
Loan Amount: Up to $35,000
Term Length: 2 – 5 years
Origination Fee: None.
Prepayment Fee: None.
Unsuccessful Payment Fee: $15
Late Fee: $25
Minimum Credit Score: 580, but the average is 650
Minimum Gross Income: None, but generally more than $40,000
Availability: Nationwide
Additional Information:
Avant Loan Eligibility:
Avant aims to offer its personal loans towards borrowers with low credit scores who want to consolidate their debt which is most suitable to those who have credit scores between 600-700 (650 average), have an annual income between $40,00 – 100,000, need guidance while in the process of paying off their debt, need loan payment flexibility, and wanting to raise their credit score. Avant does charge a late fee of $25, however, the lender has a “late fee forgiveness” feature. With this feature, if the borrower makes (3) consecutive payments on time after the missed payment, Avant will reimburse the late fee charge!
How To Apply For Avant Personal Loan:
Fill out the online application. You will need to provide your personal information such as your name, address and social security number. Keep in mind Avant checks all three credit bureaus for your credit information. The process does not involve a hard pull.
Once you’re approved, you will have a list of loan terms that you can choose from after you elect an amount you would like to borrow. Depending on your credit report, you may have more options.
Upon selecting your loan terms, sign the loan agreement. Avant will then ask you to provide your bank information to receive the funds.
After providing your bank information, you may be required to submit additional information and provide documents to verify your income and identity.
Bottom Line
Avant is a great source when you’re in a situation where a personal loan is needed. Avant states that borrowers whom successfully consolidate their debt, in return, raise their credit scores by an average of 12 points over a six-month period. If you have a credit score of at least 580, Avant will more than likely approve you if you can meet their requirements. See “How To Apply” section. All in all, Avant aims to offer its personal loans to those with low credit scores and seem to be lenient with their “late fee forgiveness” feature. Are you interested in this personal loan from this lender? Please let us know in the comment section below on your experience! If you want more ways to save money, check out our full list of ways to save money.
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