Learn how Avant personal loan can improve the credit score, moreover persons with bad credit must use personal loans. Credit cards and payday loans are hard to cover up with bad credit. Here we cover up a complete review for Avant Personal Loans and steps for application process one must observe. Based in Chicago and previously widely known as “Avant Credit” is the emerging online lender offering personal loans. The Company was launched 4 years before in 2012 and since then, it is being operated in the United States and UK with the name of SpringCoin. $500 million amount of loan has been funded by Avant two years before in 2014 among 100,000 customers.
Currently company is being processed with the help of more than 450 employees and loan assets of $310 million dollars. Complete details and application process can be followed online from its official site. Among personal loan lenders, Avant has carried a very easy online application process to be done by sitting at the very ease corner of your home.
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Avant Personal Loan
How Avant Works & Loan Types
Avant is offering two types of personal loans. Card rating basically decides that for which type, an applicant is eligible. A FICO score of more than 580 is acceptable. Avant is offering following two types of loans:
– First is of the type having a maximum APR of 36%, while loan amount starts from $1,000 and goes up to $20,000. A Utah-Chartered bank named WebBank issues the loans under this category.
– The Second type loan is offered directly from Avant as it has an interest rate higher than 36. Loan amount of this second type ranges from $2,600 to $6,000.
Type of loan is also limited to the states such as in Colorado and Connecticut, only WebBank loan is available.
Loan Application Online & Process For Avant Personal Loan
There are two ways to apply for Avant personal loan. One can either use a phone to do that or it can also be done by visiting its official site. According to reviews of applicants, application is quite self-explanatory. One just cannot get confused and if still, someone comes up with any query, he can call. Loan rates may vary from state to state. You will be asked to choose your state to confirm the rate. If someone is already pre-approved, form lets know him about it. Most important of all these features is that Avant gets all the required information from your bank and lets you know if other documents are required.
Why not Other Lenders
Those borrowers who want to have an access to the fast cash Avant is something to be approached. Application process and transaction of funds can be completed in just a matter of few hours. Interest rate varies as it changes from 9.95% to 36%. Diversity in interest rates actually allows different borrowers with different credit scores to qualify for this unsecured loan. Being an unsecured loan, an applicant will not have to worry about any collateral. Unlike other lenders, Avant does not charge any extra loan fee and also there are no prepayment penalties.
Customer Support For Avant
Representatives of Avant are quite friendly and they help by talking through the entire process and answering different questions. For those people, who cannot make calls during working day hours, Avant has the customer support service 24 hours to be called anytime. One can dial customer service number 800-712-5407 in case of any query.