3497 votes - Finance - First release: 2018-03-16T14:30:08Z
Description - 12+
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!
Borrowers: Enjoy an easy sign-up process and the lowest rates on the market. Join in minutes and request your first loan!
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.
SoLo is the FIRST mobile app to support peer to peer loans of under $1,000.
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.
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.
-- Earn Money While Helping Others --
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.
“A model for lending that doesn’t screw over the consumer.” Techstars, Lesa Mitchell
-- Borrow up to $1,000, On Your Own Terms --
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.
“Finally, An App For Borrowers Living Paycheck to Paycheck” - Forbes
-- Safe & Secure --
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.
-- Free Education --
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.
-- SUPPORT --
If you need help, please contact us anytime. Email us at [email protected] 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.