Pave, an online lender that rewarded borrowers who used loans for self-improvement with a lower interest rate, stopped lending in June 2017.
The New York-based company focused on young borrowers who wanted to enroll in educational courses, pay down credit card debt or cover relocation expenses for a new job.
Pave did not give a reason for the change but said it is exploring strategic options.
Existing loans will continue to be serviced, according to the company.
If you are looking for a personal loan, consider these other options:
- Personal Loans for Debt Consolidation
- Personal Loans for Good, Average and Bad Credit
- Where to Get a Personal Loan
Updated July 24, 2017.