A personal loan from Avant may be a solution to consider if you need to borrow money but you have challenged credit. Qualified borrowers may receive up to $35,000 in funding and interest rates start as low as 9.95%. While that might not be the lowest rate you can find on a personal loan, it’s considerably lower than the starting point for many alternative personal loans for bad credit.
- Competitive interest rates when compared with other personal loans for bad credit
- Fast access to funds—often available as soon as the next business day
- Soft credit pull occurs when you check your loan options online
- Interest rates may be high compared to the APR you might receive elsewhere with better credit
- Maximum loan amount of $35,000 is low compared with other personal loan providers
- An administrative fee may be charged on top of interest costs
Other important information:
- Minimum/maximum amount you can borrow: $2,000 to $35,000
- APR range: 9.95%–35.99%
- Fees: Avant may charge an administration fee of up to 4.75%, deducted directly from your loan amount. Late fees may be charged as well, if your payment becomes past due.
- Minimum recommended credit score: 600–700 is the average credit score range of most approved applicants.
- Other qualification requirements: In addition to your credit score, Avant will also review your income to see if you qualify and for what loan amount.
- Repayment terms: Loan repayment terms can range between 24 to 60 months (two to five years).
- Time to receive funds: Loan funds are usually deposited in your account by the next business day.