Avant is an online lender that offers personal loans and credit cards. Their personal loans are often used for debt consolidation, home improvements, or emergencies. *
While Avant offers an online process similar to CreditNinja, CreditNinja offers more flexibility with credit eligibility, which may work better for you if your credit score is on the lower end. Continue reading to learn more about Avant, CreditNinja, and similar options.
Key Takeaways
- Loans like Avant include online personal loan lenders such as CreditNinja, LendingPoint, OneMain Financial, and OppLoans, offering unsecured installment loans with different credit requirements, loan amounts, and repayment terms.
- CreditNinja may be a more flexible option for borrowers with lower credit scores, offering $300–$5,000 loans, no minimum credit score requirement, same-day funding upon approval, and predictable installment payments.
- Avant provides larger loan amounts ($2,000–$35,000) with 24–60 month terms and APRs based on creditworthiness, but may have stricter eligibility requirements than some alternative lenders.
- Comparing APR, fees, loan terms, credit requirements, and repayment structure is essential to choosing a loan that fits your financial situation and long-term budget.
Pros and Cons of Avant And Alternatives
Here are some pros and cons of Avanat and similar lenders:
CreditNinja
- Pros — Accepts a wide range of credit backgrounds; fast approvals and funding; simple installment-loan structure.
- Cons — Loan amounts may be smaller compared to traditional banks.
Avant
- Pros — Available to borrowers with fair or limited credit; fully online application; offers longer repayment terms than short-term loans.
- Cons — May have stricter eligibility requirements than some alternative lenders.
LendingPoint
- Pros — Designed for borrowers with fair credit; online application process; offers flexible loan purposes.
- Cons — Not available in all states; requires steady income and credit history.
OneMain Financial
- Pros — Offers in-person and online support; considers multiple factors beyond credit score; flexible loan uses.
- Cons — May require an in-person visit for some applicants; loan amounts and terms vary by location.
OppLoans
- Pros — Accessible to borrowers with poor or limited credit; no hard credit check to apply; structured installment payments.
- Cons — Loan amounts are relatively small; limited availability depending on state.
Finding the Right Personal Loan
The right personal loan will depend on why you need the loan, along with your current financial situation. Personal loans can work well for a wide variety of needs and budgets. These are loans that are made available in a lump sum and are available through traditional lenders like banks and credit unions, but also online lenders similar to Avant and CreditNinja.
What Can I Use Online Loans For?
Personal loans, including online loans, can work well for a variety of expenses. Here are some examples:
- Emergency expenses (unexpected repairs, urgent travel, last-minute bills, or other monthly expenses)
- Medical bills (procedures, prescriptions, dental work, or vet care)
- Debt consolidation or credit card refinancing (combining high-interest credit cards into one payment)
- Postsecondary educational expenses (tuition gaps, certification programs, books, or supplies)
- Personal events and life milestones (weddings, trips, moving costs, or family celebrations)
- Business or commercial purpose (in some cases, people use personal loans for their business)
What Is The Application Process Like?
The application process for a personal loan will generally look like this: apply for a personal loan online or in-person depending on the lender. Next, you’ll have to verify your personal and financial information. This may be done online or with documents in person, again depending on the lender. Next, the lender will let you know about approval. Lenders may review your credit report along with your income and other financial information during the approval process. Once approved, you’lll get concrete loan terms such as your loan amount, APR, and repayment terms. In general, you may need the following details:
- Government-issued identification
- Social Security Number (SSN)
- Proof of income (pay stubs, bank statements, or tax documents)
- Proof of address (utility bill, lease, or mortgage statement)
- Active bank account information
- Contact information (phone number and email)
When working with Avant specifically for a personal loan, here’s what you can expect with the process:
- Apply/Check your eligibility — The first step is to apply online through their website.
- Submit your application — Provide the required personal and financial information for review.
- Receive your funds — If approved, funds are deposited to your bank account, and you can manage your loan through the Avant mobile app.
Loans Like Avant vs. CreditNinja
Here are some key points of Avant and CreditNinja so you can compare things at a glance:
| Lender | Loan Amount Range | Key Information |
| CreditNinja | $300-$5,000 | Same-day funding*, loan proceeds are sent to a bank account. No Minimum credit score to applytakes into account current employment. No hidden fees, can pay off the loan early.Repayment up to 24 months. |
| Avant Personal Loans | $2,000-$35,000 | Unsecured personal loans Loan terms generally range from 24 to 60 monthsRates (APR) vary based on creditworthiness and state (approx. 9.95 % – 35.99 %) |
Consider the Lender and Loan Process
Choosing the right lender is essential when searching for a loan. Every lender is a little different, and it’s important to figure out what kind of offers and services they have and whether they are the right option for you. Before committing to a lender, do some research online. Google reviews and Trustpilot are a good place to check. Start below with some details about commonloan types to consider:
Payday Loans
A payday loan is a type of unsecured loan that is short-term and makes a few hundred dollars available for borrowers. Minimum loan amounts vary from one lender to another. In most cases, borrowers will have to repay the total loan balance in a single payment, usually within a few weeks. This can make repayment tough and can lead to a cycle of debt. Even if you don’t have the best credit history, it’s usually best to avoid payday loans.
Installment Loans
Installment loans are loan options that are repaid in steady monthly payments. These loans work well for those who want a predictable monthly payment on their loans, without any surprises. CreditNinja offers installment loans, which can be helpful during an emergency.
Title Loans
Title loans are secured loans that use a vehicle as collateral. Borrowers with poor credit can be approved for a title loan because the lender has the security of the vehicle. While these may seem convenient because of their flexible credit requirements, they can be hard to repay and put your car at risk.
Things To Know Before Taking A Loan
Before taking out a loan, it’s important to understand how borrowing can impact your finances. Loans involve ongoing payments and added costs beyond the amount you receive. Such as an origination fee or an administration fee charged for processing or maintaining the loan. Reviewing key details ahead of time can help you avoid unexpected issues and choose a loan that fits your budget.
Interest Rate and APR
An interest rate is the cost of borrowing money and affects how much you repay over time. APR includes the interest rate plus certain fees, offering a clearer view of the loan’s overall cost—think of this as your actual loan terms. Comparing APRs can help you better understand different loan options.
Be Mindful About Loan Amounts and Loan Terms
Loan terms determine how long you’ll make payments, ranging from short-term to long-term. Shorter terms usually mean higher monthly payments, while longer terms lower monthly payments but increase total interest paid. Selecting the right loan length depends on what you can comfortably afford.
CreditNinja: How Does it Compare?
CreditNinja is an online lender with lots of benefits like flexibility, convenience, and ease. Below is more information.
Is There a Minimum Credit Score Required to Apply?
No, there is no minimum credit score requirement to fill out our loan application. So even if you haven’t had a responsible credit history in the past, don’t hesitate to apply with us. While not all personal loan lenders work with applicants with low credit scores, CreditNinja does. Excellent credit isn’t needed for approval!
What Are the Repayment Options With CreditNinja?
You can repay a CreditNinja loan without any prepayment penalties, and we offer a wide range of repayment terms. And as mentioned before, because our personal loans are installment loans, you’ll have steady and predictable payments until your loan is paid back in full.
What Does the Application Process Look Like With CreditNinja?
The application process is simple with CreditNinja, and while not all applicants who apply will get funding, we are pretty flexible with credit. Here is what you can expect with our process:
- Apply Online — You can apply online, and bad credit borrowers are welcome to apply as well.
- Verify Your Income — The next step is to verify your income, which takes a few minutes. Once you get loan approval, you’ll get the terms, and if everything looks good, sign and get funding.
- Once Approved, Get Loan Funding — After reviewing and accepting your loan terms, the loan closing takes place, and funds are sent to your bank account. You can then use your bank-issued debit card to pay for whatever you need.
What Will Repayment Look Like With CreditNinja?
CreditNinja offers a straightforward repayment process designed to be easy to manage and predictable. Borrowers repay their loans through fixed installment payments, making it easier to plan ahead and stay on track.
- Automatic payments set up from your bank account
- Online payments through your CreditNinja account
- Payments made over the phone with customer support
What Are Some of the Benefits of Working With CreditNinja?
Working with CreditNinja can be a helpful option for borrowers looking for a straightforward loan experience and support throughout the process. Below are a few key benefits to consider when exploring a loan with CreditNinja.
Fast Funding Once Approved
Our application process is fast, and once approved for a personal loan with CreditNinja, you could have the funds as soon as the same business day.*
Flexible Repayment
CreditNinja provides structured installment repayment plans that are designed to be manageable and easy to follow. This flexibility can help borrowers stay on track with consistent payments.
Bad Credit History is Okay for Applying
Borrowers with poor credit history or low credit scores can still apply with CreditNinja. Approval decisions take multiple factors into account, not just credit scores.
Excellent Customer Service
CreditNinja is known for its responsive customer support team. Representatives are available to help answer questions, explain loan details, and assist throughout your loan process!
References:
