About AvantCredit Loans

Avant was founded in Chicago by Al Goldstein alongside John Sun and Paul Zhang. Al Goldstein had previously formed Enova who had been a key local competitor until their recent closure. After formation in 2012 their first personal loan was issued in 2013. The UK division also started in 2013 under the SpringCoin name. They later changed this in early 2015 adding “Credit” on what they are known stateside. Globally, this firm has helped 600,000 customers with 80,000 of these being located in the UK. Collectively more than £3.5 billion is impressively borrowed annually across their user base. This company is famed for their in-house proprietary technology that determines an individual’s creditworthiness.

AvantCredit’s product is competitively priced and they lend sizeable amounts typically pitched by banks. Between £1000 and £25,000 is made available although only £20k max is selectable on their homepage calculator. To match the high sums you can spread the loan across as long as 72 months. This lender importantly operates 7/7 across matched times of 9am to 6pm with same day payouts pitched. A variable interest range is headed, but most pay 42.5%. This translates as £205.16 for £1000 per year that is currently the cheapest subprime deal on the market. AvantCredit’s Trustpilot score has taken a bit of a battering recently falling to 50% (1040+). Their American site in contrast scores at 94% (9640+).

Company Details

Address: 11-12 Hanover Square, London, W1S 1JJ

Brand: AvantCredit (aka: Avant Credit)

Company: AvantCredit of UK Llc (subsidiary of Avant Inc)

Contact (📧): support@avantcredit.co.uk

Contact (☎): 0800 610 1516

FCA Licence: 727347

Launched: 2013 (was SpringCoin)

Niche: Personal

Opening Hours: Mon/Sun (9am-6pm)

Related Brands: Non

Site Address: www.avantcredit.co.uk

Site Rank (Alexa.com Global): Unranked

Product Specs

Amounts Available: £1000 to £25,000

Late Payment Fee: £12

Login Provided: Yes

Pricing: £205.16 /£1000 (12m)

*Variable APR range of 11.8% to 49.8%. Representative 42.5%

Repayment Terms: 12 to 72 months

Review Feedback

Feefo: Not listed

Reviews: Not listed

Trustpilot: 50% (1040+ count)

Rivals & Similar Lenders Like AvantCredit

Whilst Avant is one of America’s high flying alternative lenders, the local featured site has struggled to gather the same level of traction. As it stands, it no longer even holds a global Alexa ranking that will be concerning for them, especially in light of the recent closure of On Stride Financial who had been outperforming this latest venture from Al Goldstein. Even if they do make up ground, they face fierce competition from the likes of 118 118 Money and Bamboo. Then there are also the instalment specialised firms that also target 12 month terms like MyJar and Satsuma. However, they generally charge around £1000 that is almost x5 what you’d pay here (£205.16). For alternative competitive deals check out Bamboo (£235.72) and Likely Loans (£278).

Last Check @ www.avantcredit.co.uk: February 14th, 2020