Yes, Avant is a legitimate lender.

Here's the evidence behind our assessment.

Company Overview

CFPB Complaint Data — Avant
0.59
Complaints per 1,000 customers
Moderate complaint rate
91%
Complaints resolved timely
892
Total CFPB complaints (2024)

Most common complaint type: Problems with a credit reporting company. Data sourced from the CFPB Consumer Complaint Database. Complaint rate calculated using publicly available complaint counts and estimated customer base from company filings. A lower rate indicates fewer complaints relative to customer volume.

Rates verified May 2026 · Updated weekly
DetailInformation
Company typeOnline personal loan lender (fair/bad credit)
Founded2012
RegulationCFPB regulated, state-licensed lender
Trustpilot score4.5/5 (Excellent)
BBB ratingA

Key Facts

  • Founded in 2012, headquartered in Chicago, IL
  • Specializes in personal loans for fair to bad credit borrowers
  • Funded over $8 billion in loans to 1.5 million+ customers
  • Accepts credit scores as low as 580
  • APR range: 9.95%–35.99%
  • Loan amounts: $2,000–$35,000
  • Next business day funding
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Pros and Cons

Pros
  • Accepts credit scores from 580
  • Next business day funding
  • Soft pull pre-qualification
  • No prepayment penalty
  • Mobile app for account management
Cons
  • Administration fee up to 9.99%
  • Lower maximum loan amount ($35,000)
  • Rates can be high for lower scores
  • Not available in all states
Check My Rate at Avant →
CFPB Complaint Record
Avant has 892 complaints in the CFPB database for 2024 — a moderate complaint rate — typical for a lender of its size. The most common complaint type is "Problems with a credit reporting company". 91% of complaints were resolved in a timely manner. View complaints directly →
Who Should NOT Use Avant
  • Borrowers who want the absolute lowest rate available — Avant is not always the cheapest option for borrowers with excellent credit (720+). Compare with SoFi and LightStream if your score is above 720.
  • Borrowers who need a co-signer — most online lenders, including Avant, do not accept co-signers on personal loans.
  • Borrowers in states where Avant is not licensed — verify availability in your state before applying.
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W
WiseIQ Editorial Team
Reviewed by Certified Financial Planners & Industry Experts

Our editorial team consists of financial writers, CFPs, and former banking professionals dedicated to providing accurate, unbiased financial guidance. All content is fact-checked and updated regularly. Learn about our editorial standards →

Frequently Asked Questions

Is Avant a legitimate company? +
Yes. Avant is a legitimate, CFPB-regulated online lender founded in 2012. It has funded over $8 billion in loans to more than 1.5 million customers and holds an A rating with the Better Business Bureau.
Is Avant safe for personal loans? +
Yes. Avant is a regulated lender with CFPB oversight and standard industry security protocols. It is a reputable option for borrowers with fair to bad credit.
What credit score do I need for Avant? +
Avant accepts credit scores as low as 580, making it one of the most accessible personal loan lenders for borrowers with fair or bad credit.
What are common Avant complaints? +
Common complaints include the administration fee (up to 9.99%), high rates for lower credit scores, and limited availability in some states. These are noted in our full review.
Is Avant better than a payday loan? +
Yes, almost always. Avant's maximum APR is 35.99% — dramatically lower than the 300%–400% APR of payday loans. Avant also reports to credit bureaus, helping you build credit over time.