Avant Review – Personal loan company accepts credit scores as low as 580!
Has your credit score undergone some number changes? Avant offers personal loans to customers who have bad credit with credit scores as low as 580! Loans are available in most states in the U.S. as well as the District of Columbia.
Keep in mind that the rates offered are not as low as others, but they offer excellent customer service and is held as a very reputable company. So, if your out looking for a personal loan but have a dinged credit score. Take a look at this review of Avant to see if its the right fit for you!
|Excellent Customer Support||High interest rates with lower credit|
|Fast application and approval process||Shorter grace period (10 days) and heftier fee ($25) for late payments in most states|
|Loans as high as $35,000|
|Flexible payment terms, 12 to 60 months|
|No loan origination or unsuccessful payment fees|
|BBB accredited with A rating|
Introduction to who Avant Is
Avant has been around since 2012, based in Chicago with new locations in Los Angeles and London. Their company mainly focuses on middle-class Americans, who need lower requirements and costs of borrowing. They currently hold an A+ rating with the BBB (Better Business Bureau) and is accredited with the organization.
The loans are distributed through WebBank and not Avant itself. They are a FDIC-Insured industrial bank located in Utah, who have been around since 1997. With the same rating as Avant, they hold an A+ with the BBB (Better Business Bureau).
According to Avant, they have helped out over 350,000 customers covering 3 different countries. The company has 800+ employees, funded $1.8 billion dollars to date. They are definitely trying to raise the bar to help people look for a personal loan.
Types of Loans Available
Avant offers personal loans ranging as low as $1,000 to $35,000 USD with interest rates from 9.95% to as high as 36%. The interest rate may be a bit of a concern for credit scores that are near 580, since the interest rates are based on the analysis of your application and finance background. However, you will be the one to determine whether the rates and loan amount are appropriate to what you need and never should you take out more than you really need. Each state also has minimum amounts that you can loan and maximum APRs.
Further information on rates and terms of each state can be located on their webpage.
The Qualification Process
The application is process is relatively quick and simple, completely done online on their site. The entire process is finished within 3 steps
- Checking Rates
- Signing of your contract
- Funds deposited as soon as the next day
Step 1 requires your fill out their form online with information such as your full name, address information, income information, and social security number. Avant pulls a soft credit check (does not affect your FICO score, only hard credit checks appear as inquiries) to provide a quick quote. If you are accepted, then you will be presented with several borrowing options. After your decide what loan offer you want, you move on to step 2.
Step 2 is the e-signing of your contract. Step 3 will be the finalizing of everything and funds will be deposited as soon as the next day!
Payments and Fees
Avant has repayment periods of 12 to 60 months depending on the offer you accepted. They prefer customers make automatic electronic payments each month, which is actually quite beneficially for avoiding late payments. However, you can pay in other ways if necessary. Just give Avant a call and talk to them about it.
- $25 late fee will be charged if you are 10 days past due on a payment *The fee can be later refunded after 3 consecutive on-time payments*
- $15 “Dishonored Payment” if any failed payment
If there are any financial hardships, definitely call Avant to see how they may assist. You may be able to adjust the payment date as well, if you need extra time before the due date. They also report to all 3 credit-bureaus
They are absolutely a great company when they come to supporting and providing for their customers. If you ever needed to contact them, their helpful staff are always there willing to answer your question seven days week.
You can reach them through their phone system, live chat, or via e-mail. Their response time is very quick.
|Avant Personal Loan: Ready to apply?|
**Affiliate link disclosure. All information here are for educational purposes and should not be used as professional advice. I try to be fair and honest with every review and does not in anyway affect the information provided. By clicking on the link provided above, you will be redirected to the company’s official site. Thank you for support.