Best for Bad Credit : Avant
- APR Range: 9.95% to %
- Minimum Credit Score: 580
- Loan Amounts: $2,000 to $35,000
Founded in 2012, Avant is a Chicago-based fintech company offering personal loans, credit cards, and mobile banking. While Avant’s borrowing limits of $2,000-$35,000 are lower than many competitors, and repayment terms are just 24-60 months, it’s a reliable lender that’s accessible to borrowers with bad credit. Still, Avant’s APR range of 9.95% to % combined with origination fees up to 4.75% make it more expensive than some options.
Like many competitors in the online lending space, Avant lets prospective borrowers see what rate they’ll qualify for with just a soft credit check. This is a helpful way for borrowers with less-than-stellar credit to see if they’re likely to qualify for a loan without impacting their credit score. And, while Avant does not allow joint applications, the lender only imposes a minimum credit score of 580-lower than many other online lenders. Continue reading “Borrowers with bad credit will benefit from Avant’s low credit score requirements”