SoLo Funds: Lend & Borrow
June 19, 2024
More About SoLo Funds: Lend & Borrow
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
Latest Version
2.0.19
June 19, 2024
Solo Funds Inc.
Finance
Android
444,278
Free
com.solofunds
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User Reviews
Vollie Hollands
1 year ago
App is absolutely useless now. Completely worthless, might as well just delete. Added my debit card about 15 times, each it says "success", and then asks me to add my debit card AGAIN! Can't access any tab but marketplace, can't take out loans, can't see account details, help is non-existent. This used to be the best loan app out there, completely dumbfounding how they ruined this. I'm done.
Terance Allen
1 year ago
It almost feels like a bad break up you didn't want to let go of. Came a long way in a short time until the update and never got to use it again. I waited it out for many weeks all because it was that cool of an app they had their obvious reasons to shut down, but many of us held off a long time to see it's new launch and it never happen. Sadly I'll be deleting the app by the end of this week and moving on. Good Luck yall it's been down longer than grandpa's ED!
Lachelle Edionwe
1 year ago
I mean the app is a great concept and it use to operate well until the update, now most of the users can't login ,are held up for days with the verification process or being kicked out during Repayment process and or making them re-enter debt information. Just waiting to get back in so that I can properly close my account if we ever get to get back in . The whole change in App system's really did a number on it. Most are saying they haven't been able to make or receive payments.
Matthew Keller
1 year ago
This app worked great until the most recent update. I've repaid each loan I've taken on time but have only used the service on and off for the past few months so my solo score is a 92 out of 99 max. Normally I have no problems getting a loan funded and it often happens in under 5 minutes but due to the update causing the app to not work my 92 is buried under probably 700-1000+ people with a higher score who are also trying to get funded. I was counting on this before the 1st. I'm now screwed
daniel murphy
1 year ago
Was pretty good until April. First there were alot of issues with linking an account, then it wouldn't let me withdraw my funds (not funds I borrowed), then for two days it said I was being verified and it would be resolved in 24hrs, and now for the last week it says pending verification but doesn't give a time frame. I have now been verified but still cant wothdraw. I have been a lender on this app for a year now and it's been good until this last month.
Jennifer Rosson
1 year ago
The experience has been terrible. First link my card and no problem but I couldn't request loan. Email said problem with bank or something a long those lines. Connected 2 other different accounts but got an error about the cards. Have account linked now but still can't request a loan. Keep getting error about an internal problem. I've been trying for a week already. It's ridiculous.
Jennifer Mosher
1 year ago
Great concept. I downloaded the app, got through the verification process fairly quickly (less than 24 hours). When trying to link bank account the app goes to a screen saying no internet connection. My internet is fine. Definitely not offline. It does this with wifi as well as using data. It seems as though they have shut down business and are only accepting payments on current loans. Sad if that's true as it seems users were never notified. They were apparently sued for deceptive loan tactics
Rhonda Kleynen
1 year ago
4/24 I wrote my first review a few weeks ago. Unfortunately, they have been trying to upgrade their system for a week now, and I personally still cannot get my bank card to stay connected and be able to take out another loan. My previous loan took 3-4 days to pay back but I still cannot start another loan. 4/3 - It's a great app to borrow from - I do think the fees are high, plus another fee to get the money instantly is frustrating. But overall, very helpful.
Angela Conley
1 year ago
This use to be an awesome app. Since upgraded over a month ago it no longer works for me. Tech support says engineers are working on it but I feel like that's a canned response. My loan was canceled during the upgrade but still shows pending. Of course the tool won't work. Can't have two pending loans. So why not delete the loan attempts during the upgrade dates. Just seems logical to me to try but instead I'm just told sorry. Please be patient. Very frustrating.
Scott Cahill
1 year ago
Ever since the latest update, the app has been completely useless. Numerous time I have tried update and it keeps saying that it's verifying my account, it has been doing that for over a week. I have made a significant amount of transactions on the app, but it has been totally wrong since the update. I really wish they would fix the problems instead of putting out updates that are completely misleading at best, straight up lies at worst. If they ever get it straightened out I might go back
alvin kelrido
1 year ago
Was great, but now I can't log in. There's no "log in to existing" button, and going through the process using the same email, the same bank account, the same phone number, I get 90% of the way through plaid and after allowing it access to certain things, it just makes me restart. Very frustrating, immensely so. Worked fine before the update for a year, so I'm leaving 4/5 in hopes it'll be fixed very soon, but if not I'll adjust as necessary
Donald Miller
1 year ago
App was good worked quite well untill the update. Now unusable. Loans were picked up quite quickly and the app worked without to many problems. Now the loan requests sit till the expire. I still can't even view the market screen not even sure if my loan requests are being published or not. Customer service has been offline and can't seem to get the app straightened out. Said it was fixed but haven't seen any chance in on my end.
Buffy C.
1 year ago
I'll update my rating when the app is fully operational. The app updated 3-4 weeks ago and essentially stopped working for everyone. While we continually get updates that progress has been made that still doesn't change the fact that no one can still get a loan. I'm pretty sure you've lost most of your lenders as they are afraid they won't actually get their money back. It used to be we could submit the loan and get funded right away. Now all loans keep expiring!
Migdalia Fernandez
1 year ago
It was an amazing app until the last update. Now it doesn't work. Can't sign in on the app. The loans were picked up pretty quickly now it's tumbleweeds. Until it gets fixed, the app is essentially unusable right now. If you actually want to sign in you have to use your browser. I will change my rating if it ever gets fixed but for now, it's 2 stars. Edit, way to ruin a perfectly good app
Shannon Thomp
1 year ago
I'm still trying to decide if this is a scam or not. The app itself is easy to use, especially to input your private information. BUT! Getting an actual loan seems impossible sadly. The history shows MANY people receiving loans but my request is on very low end and I had zero activity. Hopefully this is real and I can update my rating
Denise Wilson
1 year ago
Since the app has updated, I have had a very hard time receiving assistance. I constantly have to keeps changing the amount hoping that will make a difference. I used to be able to submit my request and before I got out of the app someone was already funding me. Wish it would go back to that.. if it wasn't so hard to recieve funds I would definitely rate it 5 start.
Najee Riley
1 year ago
At first they were good to go with borrowing money and paying it back on time then taking out another loan etc. But since they've made this recent update I can't even keep my card connected to take out another loan and it's really frustrating and they have the same excuse as to why it's so difficult. They need a better update because this ain't it. Update. Still no success trying to get a loan. Update : still can't get a loan even though they send email saying the app is back up and running.
Jax
1 year ago
Updating my original review. Considering the fact that their withdrawal system has proven successful.. at the moment.. this to me signifies progress in a more promising direction on their end. Chat seems more realistic instead of robotic. My issue was resolved same day. Now granted. There are still some bugs with this app. Highly recommended for anyone utilizing this app to pace yourself and exercise extreme caution. Especially my fellow lenders. Let's see how it goes from here.
Curtis Longnecker
1 year ago
This was a great app until an update basically has caused the system as a whole to not work. Even after emails saying that everything is back to normal. When you try to request a loan it won't let you get to the next parts of the process when you are requesting a loan you can enter the amount you are requesting but in the app you can't scroll down to hit next. If they can get that fixed and the quick processing for request fixed, I will update my rating.
Lisa Dials
1 year ago
Was a vital user friendly financial app before the upgrade from Synapse. Now, it's hit or miss. Takes alot longer to get funded if you are lucky enough to even get funded and really can't get funded for higher $ amounts like before the upgrade away from Synapse. Not enough lenders, not enough trust! Can't say I blame them. System was/is unusable for vast majority of borrowers/lenders. Problems getting bank info verified. Always some sort of issues these days.
