The online installment lender Avant has grown rapidly by targeting consumers who can’t qualify for a loan from Lending Club or Prosper Marketplace.

Since 2012 the Chicago-based firm has made more than 250,000 loans worth more than $1.5 billion. Avant says that its average borrower earns about $60,000 per year, as compared with about $85,000-$90,000 at its better known peers.

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