resources and wisdom from experienced people.
We've created an innovative legal agreement between prospects and backers.
Our payment and servicing platform was built with the help of experts in the space and is based on industry standards.
We use bank-level security to ensure your money and information are always safe and protected.
Our income prediction model was developed by leading academics and is based on years of historical government data.
Prospects on Pave could be the next big success story. They are exciting and driven individuals seeking funding and mentorship to take their careers to the next level.
Prospects begin by creating a profile that states their goals, experience and funding goal. We then independently verify the prospect's identity, education and credit history before they appear on the website.
We predict the prospect's future income using our income model and propose a funding rate that is fair for both prospects and backers. The funding rate is what the prospect can raise for each 1% of income shared for the life of the contract (5 or 10 year contract).
Backers are successful and experienced individuals who invest directly in prospects they care about, while helping them accomplish their goals and earning great returns.
Backers browse prospects by industry and affiliation. They can then invest in individual prospects or groups for as little as $100. Once the prospect reaches his or her minimum funding goal, the prospect can accept the backer offer.
Once the campaign is over and the teams are formed, prospects keep their backers and the public updated on their progress and achievements. While backers can play an active role in the prospect's journey by providing advice and support along the way. It's a win-win situation for everyone!
Prospects make recurring payments through Pave based on what they earn. The payments are then divided and disbursed to backers on a monthly basis. At the end of the year, we receive an official copy of the prospect's tax return from the IRS and reconcile the total paid versus the total earned.
For years in which the prospect earns less than 150% above the poverty line or is in school full time, payments to backers are waived.