Avant Personal Loans Review

Avant is an online lending platform that offers personal loans to borrowers with fair and bad credit (689 or lower score). It charges origination and late fees, and its loans have annual percentage rates consistent with other bad-credit loans.

Avant funds personal loans as soon as the next business day after approval, so you could potentially have your money in 2 to 3 business days after you apply. Other major lenders may take a week or longer.

Avant personal loans and credit cards issued by WebBank are available in most states, with a few exceptions, including Maine, Hawaii, Iowa, New York, Vermont and West Virginia.


  • Fast funding.
  • No prepayment penalty
  • Bad credit considered
  • Option to change your payment date.


  • May charge an origination fee of up to 4.75%
  • Not available without an SSN
  • Co-signers and co-borrowers not allowed

How It’s Compared

Avant vs. Upgrade

Upgrade personal loans provide reliable funding for debt relief or home improvement. Contrary to Avant, borrowers can take advantage of Upgrade’s extended seven-year repayment period on larger home improvement loans or have Upgrade pay other creditors directly on debt consolidation loans in exchange for a rate reduction.

While Avant solely offers unsecured loans, Upgrade also offers secured and joint personal loans.Upgrade approves loans as quickly as Avant, but it may take a few days for them to be funded.

Bottom Line

Avant’s selling point isn’t its low rates if you already have good credit. For borrowers with less-than-perfect credit scores, Avant is one of the few lenders willing to work with you without charging an arm and a leg.

If you qualify for the unsecured personal loans, you’ll receive quick funding, often by the next business day. It lacks features that help you build credit or consolidate debt.

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