- Avant is a private lender based in Chicago Illinois operating in the financial technology space.
- Avant uses algorithms, machine learning, and analytics to judge a potential borrower’s worthiness as well as their potential risk of default.
- The company has made over 1 billion dollars in loans since its inception in 2012 from internal fund raising. This is not another peer to peer lender.
- Access: The goal of Avant is to open up credit markets to borrowers, offer more competitive rates, and more timely capital.
- Support: They offer 24/7 support for their customers and potential customers to help them with any issues they might be having in regards to their loan.
- Transparency: Avant’s rates are advertised on their website before the loan is agreed to and there are no prepayment penalties or hidden fees.
How To Use
- Check your borrowing rate online first, by submitting the usual loan information as well as some other personal information.
- Avant analyzes the data using a proprietary algorithm and machine learning to gauge the borrowers credit worthiness and their default potential.
- The customer will e-sign the contract online.
- Funds are available the next business day.