Avant vs LendingClub

The short version

Avant and LendingClub, now Happen Bank, both lend to borrowers with fair-to-good credit, and both deduct a fee from what you actually receive rather than charging it separately. Avant publishes a minimum credit score, around 580, along with a typical approved-borrower profile (FICO 600-700, income above $50,000); LendingClub publishes no minimum score at all, weighing your credit score, creditworthiness, and ability to repay instead, and it allows a coborrower on the application. APRs, as of September 2026, run 9.95% to 35.99% at Avant and 5.96% to 35.96% at LendingClub.

Loan size is the bigger gap. Avant lends $2,000 to $35,000 over 24 to 60 months; LendingClub starts at a lower $1,000 floor and reaches $75,000 over 24 to 84 months. Avant’s administration fee is a cap only — up to 9.99% of the loan amount, with no floor disclosed — while LendingClub’s origination fee runs 0% to 8%. Avant isn’t available in eight states; LendingClub accepts applications from all 50 states and DC, though not from US territories.

Rates and fees

Avant’s published range is 9.95% to 35.99% APR, with an administration fee of up to 9.99% of the loan amount deducted from your proceeds at funding — Avant publishes only that cap, not a floor, so you won’t know your fee percentage until you have an offer. Late payments more than 10 days past due carry a $25 fee, and a returned or failed payment carries a $15 fee, with no prepayment penalty. LendingClub’s published range is 5.96% to 35.96% APR, with an origination fee of 0% to 8% deducted from proceeds. It charges no fee during a 15-day grace period on a late payment, though the fee that applies after that grace period isn’t published, and there’s no prepayment penalty either.

Take a $10,000 loan over 36 months at the midpoint of each lender’s published APR and fee figures, to compare the two on equal footing.

Avant, 22.97% APR (midpoint of 9.95%-35.99%), using Avant’s 9.99% fee cap (Avant publishes only a cap, not a range). The fee is $999.00, so you’d receive about $9,001.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $348.29 a month, total payments of about $12,538.44, and a total cost of roughly $3,537.44 over the $9,001.00 you actually received. These are our own amortization figures, not a lender quote.

LendingClub, 20.96% APR (midpoint of 5.96%-35.96%), using the midpoint of its 0%-8% fee range (4%). The fee is $400.00, so you’d receive about $9,600.00 in cash. An APR already includes the origination fee by definition, so we amortize the cash you actually receive at the APR rather than counting the fee a second time: a payment of about $361.48 a month, total payments of about $13,013.28, and a total cost of roughly $3,413.28 over the $9,600.00 you actually received. These are our own amortization figures, not a lender quote.

On this comparison, Avant’s deeper fee cut leaves you the lower monthly payment of the two, but its higher midpoint APR costs you more in total interest than LendingClub’s midpoint over the same three years.

Who qualifies

Avant’s published minimum is a 580 credit score, but the lender’s own data shows its typical approved borrower has a FICO score in the 600-700 range and annual income above $50,000. Beyond credit score, Avant requires you to be at least 18, have a valid Social Security number, verifiable income (guidance points to at least $1,200 in monthly after-tax income), and an active checking account. LendingClub, now Happen Bank, lists four requirements: at least 18 years old, a US citizen or resident living in one of the 50 states or DC (not a US territory), a verifiable bank account, and a Social Security number provided at the loan confirmation step. It also accepts joint applications with a coborrower, which it says can help you qualify or borrow more. Checking your rate is a soft pull at both lenders, so you can see an estimate before it touches your credit file; a hard pull only follows a completed application.

Avant isn’t available to residents of Hawaii, Iowa, Massachusetts, Maine, New York, Vermont, Washington, or West Virginia. LendingClub, now Happen Bank, accepts applications from all 50 states and DC, but not from US territories.

Speed and funding

Avant typically deposits funds via ACH as soon as the next business day, if your approval comes through by 4:30 p.m. CT on a weekday; an approval later in the day, on a weekend, or that needs manual income verification can take longer. LendingClub, now Happen Bank, says funds can arrive in as little as 24 hours once a loan is approved for funding, and it reports that 64% of loans approved for funding from January to March 2026 were disbursed within 24 hours.

Where each one wins

• Avant — a published minimum credit score (around 580), a number LendingClub doesn’t publish, which makes it easier to gauge your odds before you prequalify.
• Avant — a mobile app for managing payments, a feature LendingClub doesn’t describe on the pages we checked.
• LendingClub — a higher loan ceiling ($75,000 versus Avant’s $35,000) for a larger need.
• LendingClub — joint applications with a coborrower, which can help you qualify or borrow more.
• LendingClub — a lower APR floor (5.96% versus Avant’s 9.95%) as of September 2026.

Bottom line

If your credit is already in Avant’s 600-700 sweet spot and you want to check a stated floor before you apply, Avant’s published 580 minimum gives you a number to test against. If you need more than $35,000, or a coborrower would help you qualify, LendingClub’s higher ceiling and joint-application option make it the one to check first. Personal-loan credit score requirements is a useful read before you prequalify with either one. Read the full Avant review and LendingClub review, then start a loan request to see what you might actually qualify for.