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Trusted by hundreds of thousands of users, SoLo Funds makes it easy to send or receive a loan of up to $1,000 right on your phone. Borrow money or become a lender to connect with anyone in the country at the touch of a button. Join the SoLo movement and leave payday loans in the past! <br> <br>Borrowers: Enjoy an easy sign-up process and the lowest rates on the market. Join in minutes and request your first loan! <br>Lenders: Turn a profit while helping others by funding short-term loans. By offering fair interest rates to borrowers, SoLo always has an abundance of loans to choose from.<br>SoLo is the FIRST mobile app to support peer to peer loans of under $1,000.<br>Supported by leading innovators and press such as Forbes, Techstars, and Money 20/20, as well as thousands of banking partners that make it easy to move funds to or from your SoLo account. <br> <br>Sign up in just a few minutes! Download today to start enjoying more affordable loans, or a new way to make a quick return on your extra cash.<br><br>-- Earn Money While Helping Others --<br> <br>Be a lender to help a peer in financial distress while making a return on your money. SoLo loans are short-term, so you’ll receive your capital back very quickly. Use our data-driven SoLo Score to determine a borrower's creditworthiness prior to funding loans. You can also view a borrower’s transaction history, and even view individual loans to help inform your lending decisions. Create a balanced portfolio of loans to manage your risk and maximize returns. On the agreed-upon repayment date, an automatic draft is made from the borrower's bank account and sent to your. No need to reach out for a reminder, we'll remember for you! SoLo allows anyone with extra cash to make a social impact.<br><br>“A model for lending that doesn’t screw over the consumer.” Techstars, Lesa Mitchell<br><br>-- Borrow up to $1,000, On Your Own Terms --<br> <br>Borrow today and receive funds immediately, and on terms set by YOU, with no hidden fees. Our peer-to-peer structure allows individuals to lend and borrow quickly, securely, and directly. SoLo simply provides a structured marketplace for individual lenders and borrowers to meet. As a borrower, you’ll be able to increase your SoLo Score and the amount you are able to borrow by paying back loans when they come due. Sign up in minutes, set your terms and post to the marketplace. Start off with favorable terms for your first lender and build a successful relationship with the platform that rewards positive lending and borrowing activity.<br><br>“Finally, An App For Borrowers Living Paycheck to Paycheck” - Forbes<br><br>-- Safe & Secure --<br> <br>We take the safety of your personal information seriously and we are committed to protecting it. Our hosting provider is a Level 1 Service Provider under PCI DSS. At no point does SoLo ever store your online banking credentials. Banking credentials are used to authenticate and verify that you are indeed the owner of the account. Additionally, each depositor's account held at our partner bank is insured for at least a balance of $250,000.<br><br>-- Free Education --<br> <br>SoLo provides users with a full financial literacy curriculum. We believe that access to information is the key to building smart financial habits. Take courses, learn, and share this free resource with others. Knowledge is wealth, help us spread it! You can learn more at www.solofunds.com.<br><br>-- SUPPORT --<br>If you need help, please contact us anytime. Email us at email@example.com and we will get back to you quickly. You can also log in to the app to see if our live chat service is available.
User reviews affect conversion to installs and app rating. Featured and helpful reviews are the first to be noticed by users and in case of no response can affect download rate. This is why it is highly recommended to reply to them.
I was looking for an app that would loan someone in need with a job that can barrow a couple of bucks here and there and pay it back when payday comes. I tried them all, but every app wanted to be my coach on how to save money. The apps wanted a fee every month, but wouldn’t loan me any money, cause of this or that, but kept taking there $5 a month and I was pretty upset about that. I Googled apps that would loan money and came across a review about Solo Funding, so I said what the heck. I downloaded Solo and registered like it ask me to and requested a loan. I will say if you need money for the future start early with your request, cause Solo takes time to work. Solo is people like you and me loaning money to each other and making a couple of bucks to help. I thought it was crazy, cause for a week I tried and tried and no loan. Finally someone loan me what I asked for and I thought it was the coolest thing and that person came through for me (thank you by the way to whom loan me the money) but that’s just it, I don’t even know who loan me the money, but a BIG THANK YOU to that person. All I can say is try Solo it might work for you, but don’t get frustrated someone will help you just start early with your request before your deadline. Thank you Solo Funding for helping me. 👍🏼
From an investors standpoint, this app has great potential, but does little to protect lenders from losing money. I’ve lent over $16,000 to more than 60 individuals and found that most people on this platform pay their loans back late, with many not paying back at all. I found that most of the loans I funded rolled over, giving the borrower an extra 14 days to pay back their debts. I don’t think borrowers should be given an extra 14 days to pay off their debts, especially with all loan terms being 30 days or less. 7 extra days to pay back is enough in my opinion. If someone doesn’t pay back on time they should be over drafted like some auto payments do. If not overdraft, then they’re account should be charged daily until the funds are repaid. The collections process doesn’t seem to be effective at all. If your loan goes into collections, just consider it gone. I don’t imagine anyone paying back a less than $300 debt in collections, especially when borrowing from this app has no effect on their credit score. The solo scoring system is off. I noticed many people have high scores that have never borrowed money on this platform. Contacting support is also a pain. You can only communicate with them via email and they often take a week or more to respond. If they provided lenders with more payback protection, adjusted the collections process, fixed the scoring system, and added live phone call support, this app would be great.
Let me walk you through my experience so far with this app. I need a small loan to help pay off a bill that was coming the day before pay day. So I used this app. Followed all the instructions and what not and got my first loan funded! Now listen it takes a minute the first loan, about a day or so to process at most! But this customer support team is the best service I’ve ever gotten!! I must have messaged them 9 times via live chat to talk to them and they were always timely never more than a 2 minute wait. They helped me understand the waiting process and talked me though the whole process. You start with a low line of credit, mine was $100 first Loan max. I got a $50 Loan and paid back within the week so I got a little increase! I took a second loan out this week and I got it funded and in my account in under 5 minutes! Give this app a chance if you really need the help! Will update the review if I can ever try being a lender when I’m more finically stable!
Don’t use this app at all. I lent out 4 loans to people with high scores and only have gotten one payment back. This company has no way of guaranteeing the lender, and there is no interest on the loans just “tips”. So the borrower isn’t actually required to pay back the so called 10 percent tip if they don’t want to. So basically the lender loans out money with a tip thinking there gonna make a little profit, but may just get back what they loaned out of the borrower pays. There communication is horrible because they only work through email and reply back to you in like two weeks, and sometimes not at all. They have this retarded donation crap that the borrower can choose to donate to the company. So basically the lender loans money to both the borrower and the company. The company makes out beautiful but the lender takes all the risk. And they try to promote it like we’re helping out each other. That’s a bunch of crap. They only give you the option to send an unpaid loan to collections, but seriously how many people actually pay back a couple hundred dollars in collections. If you’re new to lending money go to another peer to peer platform that gives more professionalism and protection to the lender if the borrower doesn’t pay back.. take my advice and don’t waste your money and lose it to this horrible company that needs to be closed. After all it’s always about making money.
I wanted to believe in this black owned company but it has let me down tremendously. Not only does the app not work correctly but it doesn’t instill any accountability for the borrowers. So, before i discovered all this, I went out on a limb and decided to lend a random person I do not know (According to the acct. she’s just Maya C. from Chicago 👀) $210 with a return of $230 in 2 weeks. That was on March 2nd and it is now April 4th. Not only have I not heard a word as to when I will get my money back but they refuse to contact me directly whenever it “rolls over” again and AGAIN. They are now saying that they will have to send her to collections but who the heck is really going to pay $210 in collections? If they don’t have it now, what makes you think they’ll have it after interest and collection fees??? Seems like they need to do a more thorough check of who they’re letting people lend to. These people need to show employment check stubs so you can see how often and when they get paid so you can then try to charge their accounts when it’s time for payment. This is absolutely ridiculous. I’m SO glad I experimented with just one loan first, wish it was a lot less but after I get my money back I will never use this app or support this company again. If they’re starting to loose investors, that should tell you all you need to know about this company. Period.
Developed by SoLo Funds Inc..
SoLo Funds: Lend And Borrow is ranking in Finance & Lifestyle
Last update was at Jan 20, 2020and the current version is 1.73.
To see all other keys and revenue click here 1270164837
SoLo Funds: Lend And Borrow have a 3 555a user reviews.
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