SoLo Funds

555 w 5th St. 35th Flr, 90013, Los Angeles, United States
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1.61
Based on 18 Reviews

5

0.00%

4

5.56%

3

16.67%

2

11.11%

1

66.67%
About SoLo Funds

The financial system has intentionally failed our communities excluding them from returns and access to short term cash. So we created something different. We created something more human. We went back to the basics, creating a community where people could support each other financially. We call this community finance. SoLo is the leading community finance platform focused on underserved communities. Our members borrow on their own terms and lend to make industry leading returns or a social impact. SoLo has +1M users, +600k loans funded with 82% of its members being from underserved zip codes. As the only Black Owned B Corp Fintech in the U.S. and Canada, SoLo has emerged as the new financial service leader on pace to deliver $1B back into underserved communities by Q1 ‘24.

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John Mason
GB

I started my Solo adventure to help others, that are now hurting me. I started my Solo adventure with high hopes. I was able to help people get loans to do the things they otherwise couldn't do. Then I started getting what my brother and I call "Deadbeats" wow, I got a deadbeat! Well one or two isn't that bad! Now I'm up to 14, and am starting to loose money that I could otherwise use to help people. I'm almost at the point to pull out and put my $ back in dividend stocks where my profit is more secure. Don't get me wrong, I love the concept, but the risk is high, forcing you to ask for high tips. Can't we put an additional rating on borrower's indicating to me that I have had previous "on time" or "late" transaction indicated by a green bar on the bottom of their box to show on time and a yellow bar to indicate late. And on the filter to show only previous people that i have issued loans too would be an awesome tool to help those that I have already done business with. Thank you.

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Apu Apustaja
GB

Don’t trust anybody on solofunds with your money! Don’t trust anybody on solofunds with your money. The borrowers on here don’t honor their half of the deal and screw up their credit scores in the process. Non payment = money out of your pocket that you will never see again. This is a completely worthless investment and you are advised to stay away.

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Cherie Mason
GB

There are a lot of PROS and CONS I feel… There are a lot of PROS and CONS I feel it's a great app for lending money as well as getting loans, I personally have given over 80 loans to date and feel that the number of people who pay them back are pretty reasonable. That said, If a borrower is late (even by 1 hour), you as a lender forfeit any profits on that loan, and the profits you would have gotten go to solo. So where I used to take chance on people with low scores, I don't any more, until they change this policy back and stop penalizing lendors for borrowers being late. Of my 80 loans, I have only had 1 or 2 default completely so I do believe the app has good potential, but there has to be a better way to run it. By the way thank you everyone that uses the app and pays on time. I hope they can fix this problem, I enjoy helping out, but don't like losing money.

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Loretta Jeznach Lynn Lay
GB

This place does absolutely nothing but… This place does absolutely nothing but give you the runaround over and over and over there's no one to talk to and I don't believe any of the reviews are real because it's the same names over and over and over I've put in for at least 10 loans and they keep expiring within the same day that I put the request in this is just another scam

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james c
GB

This site is laughable on all sides This site is laughable on all sides. I installed the app a few days ago and shocking to me they gave me a low score when I to my own awareness have far more credibility of borrowing money for more than $100.00. So as a reviewer of apps/sites like this, I went along. Added debit card and waited. The first attempt was this past Friday at 10 a.m. Eastern. Tic Toc,Tic Toc , I waited all the way til Monday and got an alert the request expired. So I then reapplied expecting a different result, yet again 2 days pass again and the link expires with no loan made or received. To anyone and I mean anyone, please overlook this lending app at all cost. It's not worth your time to apply and seek a loan from. No customer support as far as feedback to my inquiries, no online chat and no phone number to speak to anyone. This money app is HORRIBLE, and could never see myself saying anything positive to say about this company when the negatives outway the positives by miles literally ! - James

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