Avant Business Funding
Avant is an online lending platform which offers loans to customers with low credit scores. It is based out of Chicago. The majority of the company’s customers avail their services for debt consolidation. Avant is mainly available to users with low credit scores and those who strive to consolidate debt. It is also used by those that need emergency funding to fulfill their expenses. You require a credit score of 580 or higher in order to qualify for their financing services. The average range of credit though is between 600 and 700. Furthermore, the gross annual income required for a company to be deemed eligible for its funds is $20,000. Besides that, they also offer a certain degree of flexibility with loan payments.
Their loan amounts range from $2,000 to $35,000, and the typical annual percentage rate (APR) lies between 9.95% and 35.99%. They charge an administrative fee of 4.75% and also charge you a late payment fee of $25 if you cross the 10-day grace period which they extend. There are no prepayment fees, but they charge a missed-payment fee of $15. They claim that to provide funding the next day from application submission. Avant’s repayment period ranges from 2 to 5 years, and payments are done on a monthly basis.