About Company
Pave Credit simplifies the borrowing process, offering a swift and efficient solution when you find yourself in need. Unlike traditional methods that involve applying for multiple loans, Pave Credit provides a streamlined approach. Once approved for a Pave Credit line of credit, you gain the flexibility to access funds by drawing from the available credit displayed in your Pave account. This money can then be conveniently transferred to your bank account.
It's noteworthy that Pave Credit operates as a subsidiary of Kashia Services, which is a wholly owned business entity of the Kashia Band of Pomo Indians of the Stewarts Point Rancheria. This affiliation underscores a commitment to responsible lending and ethical financial practices.
In essence, Pave Credit stands as a reliable solution for those seeking a hassle-free and prompt borrowing experience, coupled with the backing of a reputable financial entity.
Key Features
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Line of Credit Convenience. With Pave Credit's line of credit, there's no need to go through the application process every time you require funds. This provides a seamless and time-saving approach to accessing credit.
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Borrow Wisely. Pave Credit allows you to borrow only the amount you actually need, promoting responsible financial management and preventing unnecessary debt.
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Quick and Easy Access. Enjoy the flexibility of accessing your funds promptly whenever the need arises. Pave Credit ensures that your money is readily available when you require it, offering a solution tailored to your time-sensitive financial needs.
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Fast Fund Disbursement. In most cases, Pave Credit strives to deliver your requested funds within two business days of initiating a draw. This expedited process ensures you can address your financial requirements without unnecessary delays.
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Interest on Drawn Amounts. Pave Credit adopts a fair and transparent approach to interest payments. You only pay interest on the specific amount you draw, aligning with the principle of responsible borrowing.
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Fee Transparency. Pave Credit is committed to providing a clear and straightforward financial experience. There are no hidden fees, ensuring that you are fully aware of the costs associated with your borrowing, thereby promoting financial clarity and trust.
Pros and Cons
Pros
Cons
Reliability
Pave Credit is considered reliable based on its strong foundation and association with reputable entities. Pave Credit operates as a brand of Salt Point Finance, which is a wholly owned subsidiary of Kashia Services. Kashia Services, in turn, is recognized as an economic arm and instrumentality of the Kashia Band of Pomo Indians of the Stewarts Point Rancheria—a federally recognized sovereign Indian tribe in the United States.
The regulatory oversight of Salt Point Finance is carried out by the Kashia Lending Commission. This regulatory agency is responsible for overseeing and ensuring compliance with consumer finance business regulations. Salt Point Finance operates within the framework of the Kashia Band of Pomo Indians' Ordinance 12: Consumer Finance Business Regulation.
How to apply for a Pave Credit loan?
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Go to the Website. Open your web browser and navigate to the official Pave Credit website.
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Click "Apply Now". Look for the "Apply Now" button on the website's homepage and click on it.
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Select State. A prompt may ask you to select your state of residence from a dropdown menu. Choose the appropriate state.
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Enter Loan Amount and Purpose. Fill in the required fields to enter the loan amount you are seeking and provide information about the purpose of the loan.
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Create Account or Log In. If you are a new user, you may need to create an account by providing necessary details. If you are a returning user, log in using your credentials.
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General Information. Complete the application by providing general information about yourself. This include personal details such as your name, address, contact information, and other relevant information.
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Income Information. Input details about your income. This may include your employment status, employer information, and your monthly or annual income.
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Banking Information. Provide the required banking information. This involve details about your bank account, which is necessary for fund disbursement and repayment.
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Final Authorization. Review the information you've entered to ensure accuracy. Once satisfied, proceed to the final authorization step, where you may be required to agree to terms and conditions.
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Submit Application. After completing all the necessary steps, submit your application. The platform will likely provide confirmation of your submission.
Conditions and Requirements
Conditions
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Line of Credit Amount. Pave Credit provides lines of credit ranging from $400 to $3,000. The specific amount of your approved line of credit is contingent upon your credit history.
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Credit Limit Determined by Credit History. The amount of the approved line of credit is primarily influenced by your credit history. The better your credit history, the higher the potential credit limit.
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Draw Any Amount. If approved for a Pave Credit line of credit, you have the flexibility to draw any amount from a minimum of $50.00 up to your available credit limit. This allows borrowers to tailor their borrowing to their specific needs.
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No Hidden Fees. Pave Credit operates on a transparent fee structure, assuring borrowers that there are no hidden fees associated with their credit lines. This commitment to transparency contributes to a clear understanding of the cost implications.
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No Information About Interest Rates on the Website. While Pave Credit emphasizes transparency regarding fees, it's important to note that there is currently no detailed information about interest rates on the website. Potential borrowers may need to inquire directly or review their terms and conditions for clarity on interest charges.
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Loan Terms Information Not Available. The website does not provide specific information about the loan terms associated with Pave Credit's lines of credit. Loan terms typically include details such as repayment periods and other conditions, and users are encouraged to seek this information directly from the platform.
Requirements
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Residency and Age. You must be a legal resident of a state within the United States where Pave Credit lines of credit are available. Additionally, applicants must be at least 18 years old to be eligible.
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Application Information. To initiate the application process, you will need to provide the following details:
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Social security number
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Physical address (and mailing address if different)
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State Issued Driver’s license (or other form of government issued ID)
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Proof of current employment
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Bank Account Information. Applicants are required to provide bank account information, including both routing and account numbers. It's important to note that a checking account that allows ACH transfers is necessary to apply for a Pave Credit line of credit. Savings accounts and prepaid debit cards are not currently accepted.
Ways to receive the money
After your Pave Credit line of credit is approved, you can request a draw for the desired amount. The funds will be deposited into your designated bank account. This process typically takes up to two business days. However, please be aware that actual timing may vary, considering weekends, holidays, or potential delays from your bank or financial institution. Pave Credit aims to maintain transparency throughout this process, providing users with clear expectations regarding when they can access the requested funds. If you have specific concerns or inquiries, reaching out to Pave Credit's customer support can provide you with accurate and up-to-date information.
Products
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Line of Credit Features. Pave Credit offers flexible lines of credit that allow approved users to access funds up to their approved credit limit. This provides borrowers with the freedom to draw any amount within the specified limit, offering a versatile solution for various financial needs.
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Credit Limit Range. The lines of credit offered by Pave Credit range from $400 to $3,000. The specific amount within this range is determined based on the applicant's credit history.
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Draw and Repayment Flexibility. Once approved for a Pave Credit line of credit, users can draw any amount from a minimum of $50.00 up to their available credit limit. This flexibility enables borrowers to tailor their borrowing to their specific financial requirements. Repayment terms are typically outlined in the terms and conditions.
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Transparent Fee Structure. Pave Credit emphasizes transparency in its fee structure, ensuring that users are aware of the costs associated with their lines of credit. Notably, there are no hidden fees, providing clarity for borrowers.
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Use of Funds. Borrowers can use the funds from their Pave Credit line of credit for various purposes, whether it's managing unexpected expenses, covering bills, or addressing other financial needs. The versatility of the lines of credit allows users to adapt the funds to their specific situations.
Other Loans
Alternatives
CreditFresh
CreditFresh provides personal lines of credit from $500 to $5,000 with a unique feature of charges only on the borrowed amount. The application process is transparent, and there are no hidden fees. Regular payments and positive payment history may lead to reduced credit costs and increased credit limits.
Tally
Tally offers a low-interest credit line specifically designed to help users efficiently pay off credit card debt, resulting in significant savings and improved financial stability.
Oportun
Oportun is a reliable financial service provider offering personal loans ranging from $500 to $4,000 for new customers and higher amounts for returning customers, up to $6,600. They focus on providing affordable APRs, ensuring borrowers are not burdened with excessive interest rates.
RISE Credit
RISE Credit is an online lender offering loans up to $5,000 with a quick and simple application process. Borrowers can choose a payment schedule that aligns with their financial preferences, and RISE Credit stands out with a 5-Day Risk-Free Guarantee, allowing borrowers to rescind the loan within a specified timeframe without fees or interest. They also provide free access to credit scores and monitoring through Credit Score Plus.
Editorial Opinion
Important
How to Choose a Lender
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Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.
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Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.
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Carefully review all the terms and conditions of your payday loan contract.
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Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
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Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.
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Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
Methodology
At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.
In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.
At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.
Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.
