Avant Personal Loan Review
Personal loans from $2,000 to $35,000 with APRs from 9.95% to 35.99%. Focused on fair-to-average credit borrowers. Funding typically next business day with a well-rated mobile app for loan management.
Key terms
- Loan amount
- $2,000 – $35,000
- APR range
- 9.95% – 35.99%
- Repayment term
- 12 – 60 months
- Minimum FICO
- ~580
- Administration fee
- Up to 4.75% of loan amount
- Late fee
- $25
- Returned payment fee
- $15
- Prepayment penalty
- None
- Funding speed
- As fast as next business day
- Available in
- 48 US states (not IA or WV)
Best for — and when to skip
Best for
- Fair credit (580 – 700 FICO) needing quick funding
- Want a polished mobile app for managing the loan
- Declined by traditional banks but want sub-36% APR
- Moderate loan amounts ($2,000 – $15,000)
Skip Avant if
- Excellent credit — lower APR and no admin fee elsewhere
- Need more than $35,000 — cap is firm
- Want a 7-year term — Avant maxes at 60 months
- Live in Iowa or West Virginia
Pros and cons
+Pros
- Lower minimum FICO than many online lenders
- Soft pull pre-qualification
- Strong mobile app for loan management
- Next-business-day funding common
- No prepayment penalty
−Cons
- Administration fee up to 4.75% applies on every loan
- APR ceiling at the legal 35.99% maximum
- Not available in Iowa or West Virginia
- No co-signer or joint application option
- Lower max amount than Upgrade or SoFi
How Avant compares on cost
The 4.75% administration fee is Avant's main cost driver beyond APR. On a $10,000 loan that's $475 — comparable to mid-range origination fees at Upgrade or Best Egg. Don't shop on APR alone: compute the total cost (principal + interest + fee) and compare it directly against any competing offer. If a fee-free lender like SoFi or LightStream will approve you, the math usually favors them.
How to apply
Pre-qualify online
Visit avant.com — soft credit pull only.
Review offers
Avant usually presents one or two options with different terms.
Complete the application
Submit ID, employment, and bank account information. Hard inquiry happens here.
Sign electronically and receive funds
If approved by 4:30 PM CT on a business day, funds typically arrive next business day.
Frequently asked questions
Pre-qualify with Avant in 2 minutes.
Fast online application, no impact to your credit score. Funds possible as soon as next business day for approved borrowers.
Check my rate at AvantREI LoanDoc may earn a commission if you apply through this link — this comes from the lender, not from you, and has no effect on your loan cost or how this review was written. Rates and terms are set by Avant and subject to change. Advertiser Disclosure · Affiliate Disclosure
