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Pave Personal Loans

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Most Helpful Positive Review

Mar 12, 2016
I was Honest & They were Generous

I'm a bit of an anomaly when it comes to getting loans. Firstly, I have a business degree from a pretty-highly-regarded state school in Atlanta. I got a 3.4 GPA and even told them that.

I don't -and never did- have any college debt. When I requested the loan, I working at a full-time job paying $37K (not the ideal, I know, but still something), and I had a good credit score -- though short credit history at age 26 (score of 675 on Equifax, 700 on Experian, and apparently- according Pave's soft credit pull on my account, a hefty score of 740).

However, one thing that wasn't going for me when requesting a loan, was that I was in around $5K in credit card (due to stupid spending). Nonetheless, I was granted the amount of money I had requested for my loan, which was around $15K.

Once I got my loan terms from Pave, turns out my interest rate was less than 8%, and my APR - which was originally set at 10%, dropped down to my interest rate weirdly enough after I delayed on accepting the loan for a little while.

I was very satisfied with the interest rate terms they gave me. I was expecting a higher one due to my current debt and mediocre credit score - that paired with my irrefutable short credit history made me a poor candidate, so I thought. 

Needless to say... I accepted my loan terms ;)

and SINCE I didn't immediately accept the Pave loan immediately (I was looking at other rates (requesting loans from 4 other companies), Pave emailed me and said that they would WAIVE the origination fee, which - for me- was over $500!!

Here is some info on the other 4 lending companies and what they offered me:

Upstart - gave me a smaller amount than my loan amount I had request. The interest rate they gave me was also very high

Borrower’s First -- very high APR, smaller loan amount given

Avant -- very high APR, only willing to pay half of my request loan amount

Lending Club -- denied me for my loan amount all together!

So I got my loan amount in FULL due to that waived origination fee (which I considered a truly an honest blessing!). Truth be told, overall, know that my education, credit score, lack of large debt, and full-time job are what scored me this loan.

It made me feel good that my work in a university wasn't in vain. I had been feeling disillusioned that -after graduating from school- I didn't immediately begin working at a job I liked. Not a job I LOVED, just a job I liked. It was hard. It's BEEN hard. This Pave loan is allowing me to disconnect from my job now, and LEAVE... and with the team I've been granted via using the Pave loan, I can search for something with more meaning, with the experience I've gained in the past years.

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Most Helpful Negative Review

Jun 04, 2016
Misleading APR - Bait and Switch SCAM

Simply put, whatever APR you see on Credit Karma for this loan vendor is incorrect. At the end of the whole application process they will increase the APR by about 80% (almost double the APR advertised!!!) and proceed to spam you and call you and try to scare you into taking the offer. Stay away!

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Reviews (18)

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Oct 10, 2016
dont believe the 3 business day lie

After you submit all required info, you'll get the following:

Thanks for submitting all of your documents!  Our team is verifying all of your information and will be in touch with you within 3 business days.

For me, that was 11 days ago, 6 business days ago.  Still waiting.  When I questioned it last week, was told 3-5 business days and I would definiltey hear back by week's end.  But here we are on Monday, still waiting.

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Oct 08, 2016
Checking your rate DOES affect credit

They denied my application which is fine but they added an inquiry to my credit score, thereby affecting my score.

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Sep 26, 2016
Scam with hidden charges

It is funded by investors privately who charge very high rates. Also the service was really bad

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Aug 17, 2016
Anonymous Borrower

My offer was not competitive with offers I recieved from other lenders. Customer service was terrible and the experience on their site was poor. There are a lot better options than these guys. 

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Aug 07, 2016
So far it looks good

I applied and seems like i got pre approval. credit score 670. not great payment history from 2 years ago when i was in college. not im trying to pay everything off and just pay off the loan.  igot only 6k from lending club with 24% APR which was insane. so hope this one is better especially that i got 15% Only for 25k loan.

will update this throughout the process and if they request anything unusual.

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Jul 06, 2016
simple loan

the company web page does not work

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Jun 04, 2016
Misleading APR - Bait and Switch SCAM

Simply put, whatever APR you see on Credit Karma for this loan vendor is incorrect. At the end of the whole application process they will increase the APR by about 80% (almost double the APR advertised!!!) and proceed to spam you and call you and try to scare you into taking the offer. Stay away!

more ...
Aug 07, 2016

i just applied, same APR. 15.60 % and was approved for 25k loan with not 670 credit score and 6000$ debt. my chances were Fair on credit karma but i got the amount i wanted. in the process of collecting it hopefully soon. but APR same

Oct 04, 2016

How long did it take the Pave team reviews your documents

May 24, 2016

They use Experian only!

I applied just to check the rates...i was denied completely.The Email they sent says i was denied because Credit Score to low, Past Due amounts on my account,  and Lack of History.

This makes no sense though my bank offered me a loan of $7,000 over 60 months at 4.75% Fixed.

Credit scores 732 TU 758 EQ 717 Ex

100% on time payments

Credit history goes back 3yrs

over $5,000 of avilable credit, using 15% of available limit on my cards total

THe only "Bad" thing i have on my credit is one PAID collection from 4 yrs ago that was less then $100.

Application process is also long.

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May 29, 2016

The same thing 654 Experian is too low, I guess they need 680 or higher.

May 04, 2016
Great rate, friendly service
Anonymous Borrower

The rate was good compared to other companies and the support team helped me thought he process. Thanks Pave

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Apr 04, 2016
Easy, fast and no surprises
Anonymous Borrower

I came upon the Pave loan by reading comments on a financial forum. I was looking for a loan to consolidate the rest of my high interest debt. I wanted one payment instead of several. I had just paid off a Lending Club loan at 19% a year ahead of schedule. My credit is good. My scores range grom 680-740. No negatives on my report and I have a fairly high income but my DTI is on the higher side (27%) due to student loans. Pave is a soft pull. They came back with a 16% interest rate which I thought was decent. The origination fee is a flat rate making Pave more financially appealing than LC. I started the app on a Sunday night and had the money in my bank account by Friday. I had two phone calls to confirm my application and my identity. I am appreciative of this since I uploaded financially sensitive information and this day and age of data leaks one can never be too careful.

Overally, applying for the Pave loan was very easy. You will need to upload a picture ID and proof of income as well as any other documents that support the financials you listed on the application. Once the Pave team reviews your docs (usually in 2-3 days) they approve your loan and send you an email telling you when to expect disbursement. They will also make 2 microdeposits to confirm your checking account is valid. The terms of the loan are very clear and you know exactly what you are paying. Highly recommend Pave and I 'm looking forward to our relationship.

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Jun 24, 2016

Seems like you work for them!

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.