winning an online lending award speaks a lot about the reputation on an online lender. Levels of customer satisfaction and innovativeness are key in determining the winner. You can confidently rely on such a lender because he has been tried, tested and found to be true.
What Online Lender Won the Most Awards in 2017:
Avant: The 2017 Winner:
Avant wins the most awards as the best online personal loans lender in 2017. Avant can accept borrowers that do not have a perfect credit score. They can accept applicants with a credit score as low as 580. However, there is a better chance to get approved if your credit score is above 600. In addition, you must be receiving a minimum income of $40,000 per year. With Avant personal loans, you can borrow a loan amount as little as $2,000 up to $35,000. This is a high level of flexibility every borrower is looking for.
Loan Purpose and Qualification:
At least 50% of the borrowers take out a loan with them for the purpose of debt consolidation. Making a late payment of more than 10 days will cause you to get charged with a $25 late fee. They hold a policy where the late fees will be refunded to you if you are on time in making payment for a minimum of 3 months. Avant personal loans are open to all states in the USA except 4 states including Colorado, West Virginia, Vermont and Iowa.
Avant Interest Rates:
The average interest rate of the loan is about 9.95% – 35.99%. Just like other lenders, they will assign a lower interest rate to people with better credit score. The APR interest rate that it charges is comparable to SignatureLoansNetwork.com, OneMain Financial, and Mariner Finance. Avant allows borrowers to settle the loan early without having to pay any prepayment fee.
The procedure of Applying for Avant Loans:
To apply for the loan, you can fill in the loan request form with personal information such as name, address and social security number (SSN) at the Avant site. If you want to get pre-qualified first, you can go to a loan comparison site and click the button to go to the pre-qualification loan request page. This step does not affect your credit score. When your loan get approved, you will be presented with a number of repayment options that is influenced by the different length of loan term and monthly repayment amount. Your credit score plays an important role in the lending term that you receive.
Once you have decided which loan to apply, you will be asked to put down your e-signature on the agreement form. Avant is fast in issuing the loan. You can expect for the fund to be released in the following business day. To ensure you receive the funds fast, make sure you fill in the correct information in the loan request form and submit all the documentation that they ask for.
Sometimes, they will ask you to submit a few more documentation after you get pre-approved. If they ask you to submit a few more documentation, you will have to wait for a few days for the loan approval decision. Usually, they can take 1 week to review the additional documentation before releasing the funds.
Conclusion:
Avant is one of the leading brands when it comes to online lending. No kind of products and level of customer service made the company to win most online lender’s awards in 2017. You can trust this company when looking for reliable and affordable online lending solutions. The application process is simple and it will take a short period to get the funds credited into your account.
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