HSBC U.S. Partners With Web-Based Avant to Offer Personal Loans
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The personal lending boom continues: HSBC Holdings Plc is teaming up with Avant Inc., a closely held online lender, to offer unsecured loans to new and existing customers.
Beginning in the first half of next year, London-based HSBC’s U.S. arm will employ Avant’s Amount platform to offer loans of as much as $30,000 with terms up to five years, according to a press release. Consumers will be able to apply in minutes and have the money in their account within a day. Rates will go from 5.99 percent to the low-20 percent range.