Credit Builder Loan

At Parda, we understand that it can be tough to get approved for credit if you’re just starting out, because lenders want to see a proven track record of repayment. Likewise, if you’ve experienced financial hardship over the years, your credit history may have suffered the consequences.

In either case, our Credit Builder Loan lets you borrow $500 – $3,000 for a new beginning. The proceeds of the loan (full amount) are placed in a savings account on hold, then released to you when the loan is paid in full. That money then can be used toward your next significant purchase, a down payment, security deposit, or whatever else moves your financial life forward. And just as important, when you make your Credit Builder Loan payments on time, it provides the positive history of credit repayment you want.