#7. CashUSA: Best for Small Personal Loans up to $10,000
The largest drawback of Avant is that, like most personal loan companies focusing on subprime borrowers, the APR is high. The top-end interest rate of % is significantly higher than those of other lenders, making it a poor choice for individuals with a good or excellent credit history.
The company also has an upfront administrative fee of 4.75% of the total loan amount and charges late fees on missed payments. Avant has recently faced a lawsuit alleging that the company charged late fees and interest that customers didn’t owe and withdrew unauthorized amounts of money. (more…)