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Home » Finance » Debt Consolidation Review

Table of Contents is an online lender offering debt consolidation, personal loans, and other financial services. Starting in 2012, Avant serves all 50 states nationwide, scoring mostly average to slightly above average review ratings. Trustpilot’s Avant reviews award the company a high average rating of 4.6 out of 5, while the Better Business Bureau rates it much lower at just 1.12 out of 5, with an A grade.

Avant’s debt consolidation services function by providing borrowers with a pre-qualification step on the company’s website. Pre-qualification allows potential customers to see loan offers that may be available to them before accepting a hard inquiry on their credit report. Borrowers can input personal and financial information and receive potential consolidation loan specifics and choices before committing to an option.

The company partners with WebBank, a member of FDIC, for debt consolidation loans and offers a range of interest rates starting at 9.95% —which is a little higher than some online lenders advertise. caters to borrowers with fair to good credit ratings of over 580. feature image

Compare Avant vs. LendingClub and other top-rated lenders' rates


  • Pre-qualifying won’t affect credit score

  • Available in all 50 states

  • No prepayment penalty

  • Mobile app available

  • Funding available in 1 to 4 days

  • Flexible payment dates

  • Low monthly income requirements


  • Borrowers with higher credit scores may find better terms elsewhere

  • Origination fee applies in the form of administration fee

  • Higher low-end interest rate than some competitors

  • Direct payments to creditors unavailable

Avant Debt Consolidation Features and Benefits partners with a single lending bank to provide its financial products. While the company competes well in the online lending website arena, its offerings are limited compared to other companies offering similar services that partner with multiple lenders.
  • Consolidation loan amounts from $2,000 to $35,000
  • Pre-qualifying won’t affect credit score
  • Direct lender payments unavailable
  • Repayment terms from 12 to 60 months
  • Interest rates from 9.95% – 35.99%
  • Administration fee equals 4.75%
  • $1,200 monthly income required to qualify
  • Best for fair to good credit scores
  • Also offers personal loans and other financial services
  • Co-signers not allowed
  • Available nationwide
  • Direct lending organization Review Editorial Rating

Trusted Company Reviews Rating Score for Avant: 7.0
While Avant fell short of our top five provider picks for the best debt consolidation companies of the year, the company offers some strong consumer benefits. It may be a solid fit for borrowers with fair to good credit who meet the company’s relatively low qualification requirements.
Using our rating criteria, Avant earns a 7.0 rating. Points were deducted for the company’s low borrowing cap of $35,000 and high, 9.95% low-end interest rate. Borrowers with better-than-fair credit scores may be able to find a lower interest rate from another direct lender or lending marketplace.

Avant Debt Consolidation Facts operates similarly to other online lending platforms. Potential borrowers for debt consolidation input their personal and financial information into the company’s website to see if they qualify for an Avant personal loan that can serve as a debt consolidation loan.

The company performs a soft credit report inquiry to determine the customer’s eligibility and returns one or more debt consolidation loan offers if they qualify. The customer can then choose to formally apply for one of the loan options.

Avant offers repayment terms of between 12 and 60 months with interest rates ranging from 9.95% to 35.99%. Debt consolidation and personal loans are subject to a 4.75% administration fee, and loan amounts can range from $2,000 to $35,000. Avant doesn’t allow cosigners or collateral on loans, and only one loan through the company is allowed at a time.

Interest Rates 9.95% – 35.99%
Origination Fee 4.75%
Loan Terms 12 – 60 months
Minimum Credit Score 580
Loan Amounts $2,000 – $35,000
BBB Rating 1.12 / A Interest Rates

Debt consolidation loan interest rates generally fall between about 6% and 35.99% through most online lenders. Avant’s debt consolidation interest rates start at 9.95% and go up to 35.99%.

While the company’s lowest available interest rate is higher than some of its competition, Avant caters mostly to borrowers with less than stellar credit scores—meaning consumers with lower scores are less likely to find a rate lower than Avant’s from other lenders as well.

Avant considers several factors when determining interest rates for individual borrowers. Credit score, credit history, debt-to-income ratio, financed amount, and other indicators all play a role.

How to Get an Avant Debt Consolidation Loan

Acquiring a debt consolidation loan from Avant is a two-step process. Borrowing starts with a pre-qualification step designed to tell you what terms you qualify for without affecting your credit score and allow you to choose the best available option.

You can provide personal and financial information directly on the company’s website. Avant will use that information to run a soft inquiry on your credit report, which won’t affect your score. If Avant determines you’re eligible for debt consolidation through its lending partner, WebBank, the site will present one or more loan options for you to choose from.

There’s no obligation to choose one of the options. However, if you choose to pursue one of them, Avant will require you to supply documentation and proof of your personal and financial records to formally apply for the loan.

A hard inquiry that does affect your credit score will happen after the application step. Avant will notify you of final acceptance or denial within one to two business days and sometimes within a few hours.

If approved, Avant will transfer the amount of your loan, minus the 4.75% administrative fee, into your personal bank account. You can then use the funds to pay your existing creditors to consolidate your debt.

Avant Loan Rates vs. Other Lenders

Prior to submitting your personal loan application with Avant, take advantage of the opportunity to compare loan rates on for free.

Credible connects you with top-rated lenders, including Avant, allowing you to assess various loan options, rates, and terms without incurring any costs. Ensure you make an informed decision by exploring your choices before committing to a specific lender. Credible is featured on our list of the top 5 best personal loans for 2023.

Does Lend Money? is a direct lender but is also the interface between its partner lending organization, WebBank, and the consumer. Debt consolidation and personal loans through Avant are similar.
During debt consolidation, the company will deposit the funds directly into your existing bank account, and you’ll be responsible for paying your creditors. will lend consumers the money necessary to pay creditors but will not pay the creditors directly on their behalf.

Approval and Acceptance

Pre-qualification with Avant doesn’t equal final loan acceptance. However, when customers pre-qualify on the website using accurate and thorough information, final acceptance is highly likely, and denial at this stage is unlikely to rare.

Can You Have More than One Avant Loan?

Avant doesn’t allow its customers to have more than one loan or debt consolidation loan through the company. Any existing loan must be paid off in order to apply for a second Avant loan. Debt Consolidation Loan Requirements

The best chance for approval when applying for a debt consolidation loan through Avant requires a credit score over 600. However, The company will consider customers with credit scores below that if they meet or exceed the other borrowing requirements listed below.
  • Social Security number
  • 18 years of age or older in most states
  • 550 minimum VantageScore credit score
  • No active bankruptcy records on credit report
  • Proof of $1,200 minimum monthly income
  • Existing non-prepaid bank account

Avant Reviews and Complaints

Avant’s receives mixed reviews. While the company rates highly on some review platforms, such as Trustpilot, where it carries a 4.6 out of 5 average, other rating systems award the company fewer than 2.5 out of 5.

The Better Business Bureau gives the company an A grade, meaning it meets the Bureau’s requirements for customer service with a score of between 94 and 97 on its 100-point scale. However, with the BBB, Avant only receives a 1.12 rating out of 5.

Overall, the company scores an average rating of roughly 4 out of 5. Consumer complaints generally range from customer service inconsistencies and technical issues at the company and with the mobile app.

Is Worth It?

Consolidating debt through may be worth it to you under specific circumstances and if you’re willing, or would like to, handle paying your existing creditors on your own.
While Avant’s interest rates start higher than its competitors, those with lower credit scores that likely wouldn’t qualify for better rates from other lenders may find a fair deal with the company. Avant’s income requirements are lower than many competing lenders. So, borrowers with limited income resources and lower credit scores will be most likely to benefit from using Avant.

Avant Vs. Top Debt Consolidation Lenders

Avant Vs. Upstart

Avant and Upstart may appear similar at first glance. However, our Upstart review reveals that the companies are quite different. Avant is a direct lender that works with a single bank to fund debt consolidation loans. Upstart, on the other hand, is a lending marketplace designed to connect lenders and borrowers for various financial products, including debt consolidation.
Both companies offer services to most potential borrowers. However, both tend to benefit those with low credit scores more than those with higher ones. Each company provides a pre-qualification step that doesn’t affect credit scores, and each company allows customers to choose from one or more options after pre-qualification and before committing to applying for one of them.
The primary difference between the two is that Avant is a direct lender, while Upstart partners with multiple lending organizations. Upstart’s farther reach may provide more debt consolidation options. However, its origination fees may be higher.

Avant Vs. LendingClub

Where Avant is a direct online lender, LendingClub is a full-service online banking institution. Both companies provide direct lending to consumers, and both offer a pre-qualification step that won’t impact your credit score to see if you’re eligible for a debt consolidation loan. Both companies’ sites will return multiple loan offers and allow you to choose the one that fits your needs best.
The main difference between the two companies is that Avant is primarily a lending and credit card company, while LendingClub offers a full suite of online banking essentials that also include debt consolidation. Our LendingClub review states that customers can take advantage of several types of accounts through the company.

Avant Vs. Best Egg

Avant and Best Egg operate quite similarly. Both are online lending institutions. Avant partners with WebBank, while Best Egg partners with two lending banks. Both companies offer a wide range of interest rates. However, borrowers with higher credit scores may fare better with Best Egg than with Avant.
Avant’s lowest advertised interest rate is several points higher than Best Egg’s. However, our Best Egg review notes that only those with credit scores of 640 or higher are likely to qualify for debt consolidation—compared to a minimum 580 score with Avant.
Feature Avant Upstart LendingClub Best Egg
BBB Grade / Rating 1.12 / A 1.24 / A+ 4.56 / A+ 4.87 / A+
Average Reviews Rating 4 3.4 4.4 4.8
Interest Rates 9.95 – 35.99% 5.39 – 35.99% 6.34 – 35.89% 8.99 – 35.99%
Origination Fee 4.75% 0 – 12% Varies by Lender 3 – 8% 0.99 – 8.99%
Loan Terms 12 to 60 months 36 to 60 months 36 or 60 months 36 to 60 months
Minimum Credit Score 580 300 600 640
Loan Amount $2,000 to $35,000 $1,000 to $50,000 $1,000 to $40,000 $2,000 to $50,000
Joint Applicants Accepted No No Yes No
Mobile App Available Yes Yes Yes No

Frequently Asked Questions

Is Avant Legit?

Is Avant Loans safe?

Does Avant have an early payoff penalty?

How long does Avant take to approve a loan?

How long does it take Avant to verify your information?


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About Author

Dr. Ali
Deane Biermeier is a prominent figure in all things finance and home improvement, renowned for his detailed written content, analyses, and expert advice. Over the past several years, he's contributed to industry-leading publications such as Forbes Home, Angi/HomeAdvisor, US News and World Report, Newsweek Vault, and Family Handyman. Deane's expertise is further established and recognized through his review board roles and by providing expert insights at The Spruce and Family Handyman. His recent affiliation with in 2023 further solidifies his position as a respected authority in his field. Key Highlights Extensive Publication Contributions: Deane's work is featured across multiple esteemed platforms, including Forbes Home, Angi/HomeAdvisor, US News, Newsweek Vault, and more. Expert Consulting and Insight: Offers specialized content reviews and consultations for The Spruce and Family Handyman, using his vast knowledge and experience. What Makes Deane Biermeier Stand Out? Deane's writing goes beyond providing lists of information. He strives to make complex topics understandable and breaks them down into easy-to-understand points so his readers can make confident decisions quickly. His content covers a wide array of topics, offering practical and valuable information on home-related, DIY, and home and personal finances. Philosophy and Approach Deane firmly believes in the power of informed decision-making and empowers his readers to do the same. His reviews focus on delivering essential and pertinent information with honesty and transparency without bias. He stresses the importance of understanding the full picture before committing to financial products or home improvement services and provides relevant information to ensure his readers can make confident decisions. Impact and Recognition Readers and industry leaders have widely acknowledged Deane's contributions. Delivering trustworthy information has made him a go-to source for those seeking practical advice on home improvement and financial decisions. With years of field experience complemented by thorough research, Deane continues to serve as a valuable resource for homeowners and consumers alike. Engage with Deane Biermeier Readers are encouraged to follow Deane for the latest reviews and updates. His author bio page, featuring his latest content, is filled with valuable insights and information to refer to when making product and provider choices. Sharing his profile and work on social media is a great way to empower others with useful and factual information.
Dr. Ali

Deane Biermeier

Last Updated: February 26, 2024