Pave No Longer Making Personal Loans

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Pave personal loans

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:

Updated July 24, 2017. 

Amrita Jayakumar is a staff writer at NerdWallet, a personal finance website. Email: ajayakumar@nerdwallet.com. Twitter: @ajbombay