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Pave Personal Loans

3.6 out of 5 stars
5 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3 out of 5 stars

Customer Service

3 out of 5 stars

3.5 5

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These reviews were written by current and former borrowers in the last year.

Nov 02, 2016
High fees/rates, no self service
ainjii Borrower

I really felt quite disappointed by this company. Despite having good credit scores (~730), I had an interest rate of 15%! Also a massive origination fee.

I had to take this loan as I needed the money quickly to pay for tuition. In the end, I borrowed money from somewhere else (for a lot cheaper) to pay this loan off faster. But even that was a pain, since Pave does not offer self-service for one-time online payments or for changing ongoing payment amounts. You have to email customer service to get anything done.

For all the money this company must be raking in, it'd probably serve them to hire an engineer to build features that come standard with every other banking, credit, and loan service I've ever used.

If you can get a loan somewhere else, do it. 

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Aug 17, 2016
Terrible
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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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!

 
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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Aug 16, 2016

I've seen this exact review on other sites.

 
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