Best for Bad Credit : Avant
- APR Range: 9.95% to %
- Minimum Credit Score: 580
- Loan Amounts: $2,000 to $35,000
Founded in 2012, Avant is a Chicago-based fintech company offering personal loans, credit cards, and mobile banking. While Avant’s borrowing limits of $2,000-$35,000 are lower than many competitors, and repayment terms are just 24-60 months, it’s a reliable lender that’s accessible to borrowers with bad credit. Still, Avant’s APR range of 9.95% to % combined with origination fees up to 4.75% make it more expensive than some options.
Like many competitors in the online lending space, Avant lets prospective borrowers see what rate they’ll qualify for with just a soft credit check. This is a helpful way for borrowers with less-than-stellar credit to see if they’re likely to qualify for a loan without impacting their credit score. And, while Avant does not allow joint applications, the lender only imposes a minimum credit score of 580-lower than many other online lenders. Loan funds can be used for 
various purposes, and funds are typically available as soon as the next business day.
Avant borrowers appreciate the lender’s customer support team, as well as the fast and streamlined application process. Some customers report that Avant’s interest rates are high, but that they value the accessibility of financing through the lender.
Best for Debt Consolidation : Upgrade
- APR Range: 5.94% to %
- Minimum Credit Score: 550
- Loan Amounts: $1,000 to $50,000
Upgrade is a neobank that offers eligible borrowers personal loans between $1,000 and $50,000 for a range of purposes. Personal loan terms extend from 24 months to 84 months, and APRs range from 5.94% to %. Loans are available in every state except Iowa, West Virginia, and Washington, D.C. Upgrade also simplifies debt consolidation with direct payment to third-party creditors.
In addition to choosing from Upgrade’s flexible loan options, prospective borrowers can check their rate without a hard credit inquiry. This makes it easier to shop for the most competitive debt consolidation rates without undergoing numerous hard credit inquiries. However, keep in mind that this lender charges origination fees between 2.9% and 5%, which increases the overall cost of borrowing.
Like many of the best online personal loans, Upgrade has excellent customer reviews based on its simple application process and fast funding times. What’s more, the lender provides borrowers with responsive customer support. However, some borrowers complain that it can be difficult to qualify for a personal loan and that service is unhelpful.
Best for Small Loans : LendingClub
- APR Range: 7.04% to %
- Minimum Credit Score: 620
- Loan Amounts: $1,000 to $40,000
LendingClub lets members borrow as little as $1,000 while still offering competitive rates and a pre-qualification process without a hard credit inquiry.
Based in San Francisco, LendingClub is a P2P lender that was founded in 2006. It offers personal loans from $1,000 up to $40,000, making it an excellent option for consumers who want to borrow a small amount. Its repayment terms of 36 or 60 months are less flexible than terms other lenders offer, but APRs start at just over 7% and borrowers can take out more than one personal loan.
LendingClub loans can be used for numerous personal purposes, including debt consolidation and emergency expenses. Qualification requirements are relatively flexible, with a minimum credit score of 600 and a pre-qualification process that does not involve a hard credit inquiry. Still, the lender charges origination fees between 3% and 6%, which can increase the overall cost of borrowing, and funds may take longer to disburse than with other top lenders.