SummaryPave links the interest paid on a loan to how financially successful the borrower is. If you have fallen on bad times and don't make 150% of the poverty line, you don't have to make payments until you do. The new lending model looks at more than a person's credit score when assessing their suitability for a loan. It allows new college graduates who would otherwise not be able to afford a loan to get the financing they need to pay off debt, start a new business or get additional education.
Minimum Credit Score660
Maximum Loan Amount$25,000
Loan Duration36 months
APR6.0% - 16.0%
Origination Fee1.0% - 2.0%
Days to Close30 days
Pave had excellent customer service from the moment I submitted my application until I signed my loan agreement. They truly ensure that you as an applicant have every piece of information you need to know to help you make the best decision, and their dashboard is very intuitive and easy to use.
After applying on Lending Tree, Pave approved me for a loan, took a lot of personal information from me, then said they cannot issue the loan because they "could not verify the information I provided." I asked them to tell me what information they could not verify and they did not respond. I will be pursuing a loan with a more reputable company. I am very concerned I gave them all my personal information and cannot find any legitimate information about them online. I would not recommend wasting your time or risk compromising personal information with this company.