Avant offers borrowers an online portal for processing personal loans. Loans are made by WebBank or Avant Credit itself with loans ranging from $1,000 to $35,000. However, available amounts for personal loans vary from state to state. Rates start at 19% APR but generally are based on the borrower’s credit rating.
Category
Direct loan service
Loan Details
Unsecured personal loans
Yes
*** Loans are made by WebBank and other AvantCredit affiliates
Minimum loan amount
$1,000
Maximum loan amount
$25,000
Minimum loan period
1 Year
Maximum loan period
5 Years
Loan rates
Starts at 19% APR
Direct deposit
Yes, as soon as the next business day
Application
Applications are done solely online. Like most online applications, information is submitted to obtain a quote. Those who qualify for a loan are given several borrowing options. After deciding an amount, you are asked to e-sign the contract to complete the loan process.
Online application time
A few minutes
Response time
A few minutes
Qualifications
Must be 18 years old and older
Bank account that accepts ACH transfers
Driver’s license or government issued identification
Information Used
Debt to income ratio
Credit score
Current income
Employment history
Avant Credit Summary
Avant Credit may not have the best personal rates reviewed but it does come with other goodies such as excellent customer service and credit bureaus reporting. Consolidating your debt and availing of a personal loan to improve your credit score is possible with Avant Credit. Some of the other personal loan services might offer lower interest rates but this is only possible with good credit ratings. Avant Credit on the other hand could help borrowers with fair to average credit ratings.
