Background

Michael had spent nearly a decade working in a corporate job, but he had always dreamed of becoming a professional software developer. He had taken online courses, built small projects, and even started freelancing on the side.

After much consideration, Michael decided to quit his job and enroll in a full-time coding bootcamp to make his career shift official. The program was $9,000, and while he had saved $4,000, he still needed $5,000 to cover tuition and living expenses.

He considered a personal loan, but the high interest rates and rigid repayment terms made it risky while he was transitioning careers. He also didn’t want to drain his savings completely, in case it took time to secure a job after the bootcamp.

His close friend, Jason, had always supported his career ambitions and believed in him. Instead of letting Michael take on high-interest debt, Jason offered to lend him the money in a structured way that would work for both of them.

Loan Request & Agreement

Using Pari, Michael submitted a $5,000 loan request to Jason, proposing a 24-month repayment plan with 4% interest—a much better rate than any private lender.

Jason reviewed the request and modified the terms, extending the repayment period to 36 months and adding a 6-month grace period so Michael could focus on his studies and job search before starting repayments.

After finalizing the details, they digitally signed the loan agreement, and Michael received the funds instantly, allowing him to enroll in the bootcamp without financial stress.

Repayment & Outcome

Michael fully immersed himself in the bootcamp, building his skills and preparing for job interviews. Thanks to the grace period, he didn’t have to stress about making payments while studying.

Within four months of graduating, Michael secured a high-paying software engineering job. He immediately set up automatic monthly payments through Pari, ensuring Jason was repaid without any awkward conversations.

Just a year into his new career, Michael received a salary increase and decided to pay off the loan early. By month 18—a year ahead of schedule—he had fully repaid Jason.

To celebrate, Michael took Jason out for a fancy dinner and offered to build him a custom website for his side business—free of charge.

Key Takeaways for Users

✅ A Career Change Without Financial Burden: Michael avoided high-interest debt while investing in his future.
✅ Flexible Repayment Terms: Jason provided a grace period to ease financial stress.
✅ Automated Payments & Transparency: The loan was structured clearly, keeping their friendship intact.
✅ Early Payoff Without Penalties: Michael repaid the loan 12 months early.

Final Thoughts

Michael and Jason’s story proves that structured personal loans can create life-changing opportunities while maintaining fairness and trust. Thanks to Pari, they were able to create a loan agreement that was clear, fair, and stress-free.

Looking to make a career change or fund your education? Or want to support a friend’s growth without financial risk? Our platform makes lending and borrowing between family and friends secure, easy, and fair.

Download the app — Get started today!