SoLo Funds: Lend & Borrow

Solo Funds Inc.

About this app

SoLo is the community finance platform where our members step up for one another. We enable financial services for real people, powered by people. We back each other because we believe in each other.

It’s easy to sign up and become a member. As a SoLo member, you can access up to $575 (1) on your own terms or supply funds to make a social impact and return. You can also leverage our SoLo Wallet (2) as a pathway to financial autonomy.

Fun fact → SoLo won NBCUniversal’s LIFTOff Financial Impact Challenge

Here’s why thousands of members use SoLo…

ACCESS UP TO $575 ON YOUR OWN TERMS
We give you choice and control where others don’t. No credit checks. We come through for each other because we’re in this together.

EARN MONEY WHILE HELPING OTHERS
SoLo is a great way to make a social impact while also earning a return on your money. Our data driven tools allow you to verify and make smarter choices. Fund a request today. We’re people helping people.

Fun fact → SoLo won the 2022 Visa Everywhere DEI Contest amongst the nation’s best fintechs

SOLO PROTECTION
We’re in this together. We protect each member in our community via secure and easy communication between bank accounts while creating a safety net for potential losses.

SOLO WALLET
Leverage our banking solution to build financial autonomy. Deposit, withdrawal, and bank with SoLo.

Fun fact → SoLo Funds is a Certified Public Benefit Corporation.

NO HIDDEN FEES
We’re not here to surprise you with fees. SoLo guarantees no hidden fees, no minimum balance fees, transactions fees, expedition fees and no overdraft fees.

GET MONEY UNIVERSITY
We believe that access to information is the key to building strong financial habits. Take courses, learn, and share this free resource with others.

Fun fact → SoLo was selected in 2021 for Global Inclusive Fintech 50 by the Center for Financial Inclusion

For more information please visit our website https://solofunds.com/ .
(1) $500 Cash Requests: Criteria applies, see Terms https://solofunds.com/terms/ for more details.
(2) SoLo Wallet: The bank services are provided by Synapse's partner banks, Members FDIC.

If you take a $100 request add an optional $8 tip and $4 donation, then your settlement will be $112.

All loans regardless of the early schedule payment have the same terms, with 90 days for repayments and default. The early repayment schedule for a loan request can differ between members with all loans up to 90 days to pay in full until defaulted. Your initial scheduled early repayment date can be skipped without issue and repaid manually in-app at any time with minimum and maximum repayment schedule up to 90 days. All loans have up to 90 days to pay in full until defaulted.

See SoLo's Privacy Policy https://solofunds.com/privacy

Fun fact → SoLo was selected as one of Fast Company’s World Changing ideas in 2021

Ratings and reviews

Final update: there's honestly too much to remember or type out. Used to be the best, is now the WORST. They had 0 issues up until a few months ago and switched banks, maybe owners. Nothing but errors, glitches, held funds, banking issues, app not working since. DO. NOT. DOWNLOAD. DO. NOT. SIGN UP. I keep thinking they'll go back to the great app they once were. They are NOT!!! Don't do it. Every week it's something new. High risk, low result. 0 stars.

No one actually gives out loans often. I feel the loan feed is filled with bots and is simply artifical. Not only are you assigned some arbitrary score based on who knows what, it makes it near impossible to get a loan. I was assigned a score of 33, super low, as a first time borrower. New users ought to be assigned a high score that decreases if you miss a payment or are late. Useless app.

No matter the signal strength or even on WiFi, it seems I either get a stuck splash screen or no connection. Others apps run just fine EVEN where network signal REALLY IS low. Power cycles, clearing cache are ineffective. On another note, despite my bank account in good standing, since May, I am unable to withdraw my money from my wallet. They still cannot resolve that issue. Nothing, but repeated problems with this app. I am very under whelmed at the support here.

What's new

• Bug fixes
• Platform enhancements