Avant vs Prosper

The short version

Avant and Prosper both lend to borrowers with fair-to-good credit, but they set the bar at different heights. Avant states a 580 minimum credit score up front, with its typical approved borrower carrying a FICO score in the 600-700 range and income above $50,000. Its APR runs 9.95%-35.99% as of September 2026, on top of an administration fee of up to 9.99% of the loan amount deducted from your proceeds — a published ceiling, but with no stated floor.

Prosper sets a firmer, higher bar: a stated 640 minimum credit score, and applicants under 600 might not qualify at all. Its APR range, 8.99%-35.99%, runs slightly lower at the floor than Avant’s, and its origination fee is a full published range — 1% to 9.99% — rather than a cap alone. Prosper also lends larger amounts ($50,000 maximum versus Avant’s $35,000) over longer terms (up to 72 months versus Avant’s 60-month cap), and is shut out of fewer states.

Rates and fees

Our own worked example in the Avant review (Avant publishes an APR range and a fee cap, not a sample loan): a $10,000 loan over 36 months at 24.99% APR with the maximum 9.99% administration fee comes to a $999 fee, about $9,001 in cash, a payment of roughly $357.83 a month, and total payments of roughly $12,882.

The Prosper review’s own illustration uses a smaller fee: a $10,000 loan over 36 months at 20% APR with a 5% origination fee deducts $500, leaving about $9,500 in cash, a payment of about $353 a month, and total payments of about $12,710.

To compare the two lenders on equal footing, here’s the same $10,000 loan over 36 months at the midpoint of each lender’s published APR range.

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.

Prosper, 22.49% APR (midpoint of 8.99%-35.99%), using the midpoint of its 1%-9.99% fee range (5.495%). The fee is $549.50, so you’d receive about $9,450.50 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 $363.32 a month, total payments of about $13,079.52, and a total cost of roughly $3,629.02 over the $9,450.50 you actually received. These are our own amortization figures, not a lender quote.

On this $10,000, 36-month comparison, Avant’s larger fee leaves about $450 less cash in hand than Prosper’s, so despite Avant’s slightly higher midpoint APR, its total cost over the cash received lands below Prosper’s. The fee percentage and the APR don’t move in lockstep, and the APR is the number worth comparing across lenders — along with how much actually reaches your account.

Who qualifies

Avant’s published minimum is 580, but that’s a floor, not a target: the lender’s typical approved borrower carries a FICO score in the 600-700 range and annual income above $50,000. Beyond score, Avant looks for verifiable income (guidance points to at least $1,200 in monthly after-tax income), an active checking account, and a valid Social Security number. Avant is not available to residents of Hawaii, Iowa, Maine, Massachusetts, New York, Vermont, Washington, or West Virginia.

Prosper states that borrowers must have a credit score of 640 or higher to qualify, and that applicants under 600 might not qualify at all. Beyond credit, Prosper asks for verifiable income, a bank account for direct deposit, and basic identifying information. Prosper’s compliance page states personal loans are available in every state except Iowa and West Virginia.

Speed and funding

Avant typically deposits funds via ACH as soon as the next business day if your approval lands before 4:30 p.m. CT on a weekday; approvals later in the day, on a weekend, or that need manual income verification can take longer.

Prosper says you may receive your funds as soon as one business day after you accept a loan offer, complete verification, and receive final approval, deposited directly into your bank account. Because funding also depends on investor commitments behind Prosper’s marketplace structure, Prosper’s own language is that eligibility “is not guaranteed” — a real difference from a direct bank lender that funds from its own balance sheet.

Where each one wins

• Avant — a published, concrete 580 credit-score floor, so you can check your own file against a stated number before you apply.
• Avant — says borrowers who pay an administration fee above 5% may qualify for a prorated refund of the unearned portion if they pay off the loan early.
• Prosper — a lower APR floor (8.99% versus Avant’s 9.95%) as of September 2026.
• Prosper — a published origination fee range (1%-9.99%) instead of a cap alone, so you can estimate both ends of your possible cost before applying.
• Prosper — a higher ceiling ($50,000 versus Avant’s $35,000), longer terms (up to 72 months versus 60), and fewer excluded states.

Bottom line

If you want a stated credit-score floor to check yourself against before you apply, Avant’s 580 minimum is the more accessible starting point. If your credit clears Prosper’s higher 640 bar, its lower APR floor, published fee range, and larger loan ceiling are worth comparing before you commit. What credit score do you need for a personal loan? is worth reading before you apply to either one. Read the full Avant review and Prosper review, then start a loan request to see what you might actually qualify for.