Pave personal loans seeks to answer the dilemma of the young by giving them the accessibility to affordable funding with limited credit history. Millennials in need of financial backing for higher education, to pay off debt, or even to start your own business tend to find financing to be a challenge. Pave’s personal loans were merely designed for those early in their careers. Their approval process takes into account several factors beyond the traditional credit score to measure an individual’s potential to render a personal loan. Apply today!
Table of Contents
Pave General Information:
- Lender: Pave
- APR: 6.97% – 27.10%
- Loan Amount: $3,000 – $25,000
- Term Length: 2 – 3 years
- Origination Fee: 1% – 6%
- Prepayment Fee: None.
- Unsuccessful Payment Fee: Assume the same as late fee.
- Late Fee: 5% of payment due or $15, whichever is greater.
- Minimum Gross Income: None.
- Minimum Credit Score: 660
- Availability: Nationwide
- Additional Information: Time to receive funds is just a few business days.
Pave Personal Loan Eligibility:
Basic eligibility for a Pave personal loan requirements:
- U.S. Citizenship
- 18 years of age or older
- Must have a U.S. Bank Account
- A credit score of 660 or better
How To Apply For Pave Personal Loan:
Applying for a Pave personal loan is fairly simple can be done online.
- Step 1: Sign up for Pave
- You will need to enter personal information such as your first and last name, email address, and create a password (you can also sign up using Linkedin).
- Step 2: Confirm your e-mail.
- Step 3: Fill out the Talent Questionnaire.
- The purpose of the Talent Questionnaire is Pave’s way of obtaining all of your basic information such as your birth date, address, current living arrangement (rent or own), marital status, work experience, the amount you wish you borrow, education, and a your financial situation at the moment.
- Pave will also request your social security number and conduct a soft pull that will not affect your credit score, to determine your eligibility. Keep in mind when applying that you must have a credit score of at least 660 to be considered for a loan.
- Step 4: Approval
- Once you have completed the Talent Questionnaire requested and submitted all necessary information, Pave loans will take approximately (1) business day to review your application. After the review process is finished, you will be notified if you are approved for a Pave personal loan or not.
If you’re looking for a lender that will provide you a personal loan considering your potential, Pave may be a good option for you. If you’re looking for a loan specifically between the $3000 – $25,000 mark, this may be one of the better options! Pave is leading the way catering to millennials by providing financing options to a generation with great ideas but a lack of funds/credit to make those dreams come to life. Pave offers competitive interest rates to those with short credit histories, but make sure to do your research on other lenders to seek the best option for you!Are you interested in this personal loan from this lender? Please let us know in the comment section below on your experience! If you want to search for more options on taking out the best personal loan, check out our full list of Best Personal Loans.