Avantis Financial Review

Avantis Financial ReviewAvantis Financial used to offer payday loans of up to $750, depositing it right into your bank account, but they are no longer issuing loans, and are only servicing customers that have outstanding balances. We wanted to get to the root of why they stopped, since so many people are finding them in search engines and wondering what’s up.

Instead they are forwarding new borrowers to Tremont Lending, most likely because they have an agreement with them to receive some sort of commission for the referrals they send over. We’ve seen this several times, where one company either stops doing business or goes out of business and partners with another lender so that their customers have somewhere new to go.

You might ask why a lender would go out of business, since they charge such high fees and don’t have much overhead, so it shouldn’t be too hard to stay afloat and keep the business going. While this may be true, there are a finite number of people that need money desperately at any one time, and if there are a surplus of lenders it could be the case that the market is oversaturated and therefore some lenders won’t be able to cut it.

Avantis Financial Review – Why No More?

This is a pretty cutthroat industry, and since everybody is selling the same product, some companies just aren’t able to differentiate their service from everything else that’s out there, so this is a common occurrence where a company simply closes up shop and stops offering loans. Either they were losing money on the loans they were giving out, or they weren’t getting as good of a return as they could get by investing the money in other ventures. It’s as simple as that.

Tremont Lending – Should You Go with Them?
We’ll be doing a full review of Tremont Lending in the very near future, but we gave them an initial review and it looks as if they are doing a lot of things right, and wouldn’t be the worst choice for you to go with. They have a secure site, and even took the extra step of making their entire site encrypted so even when you give them basic contact details like your name and email address you are doing so securely.

Still a Mystery
Only a select few will know the real details for why Avantis Financial stopped giving out loans. It could be that the owners wanted to get out of the industry and pursue something new. The payday loan industry is not the most positive place to work, since most people are disgruntled already and down on their luck and they really don’t want to do business with you, but feel like they have to. It can be hard to be in that business and not have it effect how you feel. Maybe they just wanted a change of pace.

It’s Totally OK
As the borrower it doesn’t really matter why they went out of business, because there are literally hundreds more for you to choose from, and many of them are legit and will give you a friendly experience. Of course there are the ones that will make it a big pain, but what we’re trying to do here is make sure you avoid as many of those as you can. We like to think that we’re doing the leg work for you so that you can make a quicker decision on which lender to go with, without having to rely on what the company is saying about itself, and without overlooking important things like whether they have a secure site or not.

Our Recommendation
So while you can’t go with Avantis Financial anymore, you can still jump on with Tremont Lending and get a solid experience. Just remember that the fees and rates that are charged in each state vary, so depending on where you live you might be able to beat their rates by going in person to a local lender, or you might actually be getting a deal by doing business online. Either way you’ll still enjoy the convenience of being able to apply from the comfort of your home and you won’t have to go anywhere on your payday to return the money.

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