Avant is a marketplace lending platform bringing innovation to the way middle-class consumers borrow money by making the process easier, cheaper and faster. Through technology, Avant has created an entirely online process that provides instantaneous credit approval, with over 50 percent of applicants receiving approval in six minutes or less and next day funding. The machine-learning capabilities and big data that Avant uses creates a 360 degree credit profile of the consumer, going beyond a traditional credit score, to assess true creditworthiness and provide a product tailored to each individual’s unique financial situation. Avant offers personal loans and credit lines for $1,000 to $35,000 with loan terms of 24 to 60 months. Customers may also take advantage of the “no early prepayment penalties” philosophy, which allows customers to hold the loans for less time. Avant does not charge consumers origination fees and customers are able to view their loan amount and APR within seconds of completing the application. Avant has secured more than $1.7 billion in funding and arranged to sell another $1.8 billion through its institutional marketplace. More than 310,000 loans have been issued worldwide through the Avant website.