Avant, LLC

Avant is an online lender offering personal loans and a secured credit card, primarily targeting consumers in the fair-credit range who may not qualify for the best rates at banks but have a better credit profile than subprime borrowers. Avant has been operating since 2012 and serves customers in most US states.

Avant personal loans are unsecured, meaning no collateral is required. The application is completed online, and Avant offers pre-qualification with a soft credit check that does not affect your credit score. A hard inquiry occurs when you submit a full application. Loan purposes include debt consolidation, home improvement, medical bills, and other major expenses.

Because Avant targets fair-credit borrowers rather than those with good or excellent credit, its interest rates are higher than those offered by lenders like LightStream or SoFi to well-qualified applicants. Avant also charges an administration fee on its loans and may charge a late payment fee. Read the full fee structure before applying and calculate the total cost of the loan over its full term.

Avant's credit card is a secured card designed for consumers with limited or rebuilding credit. A secured card requires a cash deposit that becomes the credit limit. Avant reports card activity to the major credit bureaus, which can help build your credit profile over time.

Compare Avant's loan offer against quotes from credit unions, community banks, and other online lenders before committing. Credit unions in particular often offer personal loans at competitive rates to members, even those with imperfect credit histories. Avant loans are issued through WebBank, which is FDIC-insured.