Avant Review
A bruised-credit lender whose administration fee is added to principal and then charged interest, and which settled with the FTC over its servicing.
About Avant
A bruised-credit lender whose administration fee is added to principal and then charged interest, and which settled with the FTC over its servicing. Avant is offered by Avant, LLC (NMLS #1246731). Credit products issued by WebBank and currently holds an average rating of 4.2 out of 5 across 32,178 user reviews. It falls into the Personal Loans category and tends to be the strongest fit for borrowers below prime who have been declined elsewhere and understand the fee.
Editorial grade: C (composite score 53/100).
Highlights
- $2,000 to $35,000 over 24 to 60 months
- APR 9.95% to 35.99%
- Issued by WebBank, a Utah industrial bank
- Available in 43 states
What we like
- Genuinely reaches borrowers that prime lenders decline
- Large review base at 32,178, so the 4.2 score carries weight
- No prepayment penalty, and funding is usually next business day
Where it falls short
- The administration fee of up to 9.99% is deducted from proceeds and treated as principal that accrues interest. On a $10,000 loan you receive about $9,001 and pay interest on $10,000
- Avant settled FTC charges in April 2019 for $3.85 million over deceptive and unfair servicing: unauthorised bank charges, refusing card payments it advertised, and collecting from people who had already paid the quoted payoff
- Of 3,091 CFPB complaints on file, only 13 closed with monetary relief
Fees, minimums, and rates
Monthly fee: Administration fee up to 9.99%, added to principal and interest-bearing. Minimum to open: $2,000 minimum loan. Rates and promotional offers change often, so we re-verify every listed number on a rolling schedule and stamp the review with the date of the most recent check.
How we reviewed it
Our money-app reviews weight cost (25%), accuracy and reliability (25%), data security (20%), usefulness (20%), and customer support (10%). We install the app on a personal device, link real bank accounts, and track whether it measurably improves behavior over a 30-day window. For this review of Avant, our editors funded an account, walked through the full onboarding flow, and compared the experience to the other products in the Personal Loans shortlist. Scores are not influenced by affiliate relationships — partners cannot pay for better rankings, and our rubric is the same for every brand.
Similar products to compare
Read our full editorial methodology and advertiser disclosure for more on how we fund our testing and why that matters for the reviews you read here.