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Avant Personal Loan Review
Are you in need of some cash? Historically, borrowers have had limited options for a personal loan. You could ask a family member, a friend, or find a personal finance company that offered fixed-rate loans, typically at exobrtantly high interest rates.
Today, however, finding a personal loan brings several more options to the table. While you can still ask a family member, or get a high-rate loan from a finance company, you can also consider using a social lending network. These networks, also called peer-to-peer loans, generally have much lower overhead and as a result can offer much lower interest rates. They're facilitated by professional companies familiar with this type of lending, to simplify things for all parties.
Avant is one of the newest providers in the personal loans market, opening its doors in Chicago in 2012 and receiving its first accreditation with the Better Business Bureau in March 2015. It currently holds a solid A+ rating with the BBB.
Avant provides access to one of the larger ranges of consumer loans available, from $2,000 to $35,000. Loans through the Avant platform include terms from 2 to 5 years. As an example, a $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33.
Although Avant is relatively new to the online lending business, the Avant platform has already issued more than $1 Billion in loans to over 450,000 customers. With nearly 500 employees working to provide affordable loans to consumers in need, they bring a professionalism and dedication that is welcome to this industry.
There are no extra charges for prepayment of your loan, although late fees may apply if a payment is missed. Customer service is available 7 days a week.
Another feature that we liked with Avant is how quickly they provide access to funds. The Avant platform can often send your money via direct deposit as soon as the next business day*.
Avant's loan application and approval process is very easy:
We're encouraged to see this lending platform enter the marketplace. They've earned a high BBB rating in a very short period of time, and don't charge exorbitant or hidden fees. Combined with the ultra-fast loan application process, Avant easily earns very high marks.
No matter where you borrow money from, before you get your next personal loan you should consider the following:
TopConsumerReviews.com has reviewed and ranked the best online personal loan providers available today. We hope this information helps you find the best loan at an affordable rate that meets your needs!
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