What Really Went into the Loan Details Redesign?

Earlier this year, we released one of our biggest updates yet that focused on what we call the loan details page. This is where lenders and borrowers see important information about loans before, during, and after the loan is complete. Lenders use this page to determine whether or not to fund a loan and borrowers use this page to see a detailed breakdown of key dates and payback amounts.

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Taylor Bruno
SoLo Funds vs. Payday Loans - 4 Reasons Why SoLo Is Better

Let’s face it — no one likes taking out a loan. It’s often a stressful experience, and it can be an expensive one too. SoLo’s mission is to empower underbanked individuals that are at an economic disadvantage due to the established norms of the finance industry by offering affordable options for short-term loans that have never been available before. SoLo does this by pairing borrowers on the app with lenders who want to use their discretionary capital to help those in need while making a reasonable return on their money. Read on to find out how SoLo is disrupting the payday lending industry through a more modern, more convenient, more socially responsible lending service.

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5 Steps To Increase Your Financial Security Online

As the global economy moves towards a more tech-based financial system, individuals need to re-think the ways that they are protecting themselves from data breaches, phishing attempts, and malicious actors in general. Although daunting if you’re not used to thinking about your personal cyber security, there are a variety of simple steps you can take to make sure you’re safe and set up for success in the newly-online financial world.

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The Rise Of Alternative and Peer-To-Peer (P2P) Lending

There are many different financial options on the market — home loans, car loans, student loans, borrowed capital to get a small business off the ground — and without them, so many essential transactions and businesses struggle to take shape. However, most of these options only help companies or individuals making large purchases. For decades, banks and other traditional financial institutions have held a virtual stranglehold on the lending landscape, but that’s all changing as services such as SoLo Funds use the power of peer-to-peer lending to give individuals access to emergency funds at the tap of a button.

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How To Talk About Money With Your Significant Other

Many people try to avoid talking about money as long as they can. With someone as important as your significant other, though, this can turn out to be disastrous. Discussing your financial life and goals can help both of you plan better for the future, especially if you live together (or ever plan to do so). Read on for a few tips for on how to navigate your discussion in a productive and respectful way. 

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Pros & Cons - Leasing vs. Financing A New Car

Getting ahold of your first new car is undeniably exciting. It's also a serious commitment. Most people don’t have the liquid capital to buy the vehicle outright with their cash on hand, meaning there’s two choices as for payment - financing or leasing. Historically, financing has been the more common choice as opposed to leasing, but in this day and age the decision may not be quite as clear-cut. We’ll take you through the ins and outs of both possibilities to help determine what makes the most sense for your financial situation.

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Using Tech to Teach Your Children About Money

Worried about your child being constantly attached to a digital device? You can actually use technology to help teach your kids about money. There are several money apps and games that are designed for children. You might need to do a little research to find the right one that will appeal to  your child, but these apps are a great help in teaching your children about money and reinforcing what you are already teaching them.

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Pros & Cons - Secured Credit Cards

What is a secured card anyways? A secured credit card is largely similar to prepaid debit: Both are issued by traditional creditors and require an upfront investment by their users. By depositing funds from a non-credit bank account (or, in prepaid debit's case, cash or check at your bank's branch), you provide the financial institution collateral that eliminates or mitigates their risk. Read on to find out more about this unique type of credit option.

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Ethical Considerations in the Fintech World

Technology has changed the world in many ways over the past few decades, and the financial sector has been one area that has seen some of the greatest leaps forward. Not only are old processes and schools of thought being upgraded to modern standards of speed and convenience, but entirely new products and markets have emerged. However, with all these changes come new questions of ethics and responsibility. So where does that leave fintech products and companies?

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An Essential Guide to Renters Insurance

Renting can sometimes be considered more of a young person's living strategy - those from early college age into their late 20s - but data from the Pew Research Center makes it clear that things aren't nearly so cut and dried. As of 2016, 43.3 million people referring to themselves as heads of household (which includes single individuals) for U.S. Census Bureau questionnaires said they rented their residences. Percentage-wise, that comes out to 36.6 percent, which is close to the all-time-high 1967 figure of exactly 37 percent. Additionally, renting rates are up among demographic groups traditionally viewed as homeowners, such as middle-aged adults.

All told, renting in America is on a significant upward trajectory.

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4 Top Guidelines For Successful Lending on SoLo Funds

New to lending on the SoLo app? Our Marketplace is a platform that empowers lenders to utilize a portion of their uninvested savings in an unconventional way. We have seen accomplished lenders use our platform for many reasons since our launch in 2018— the two main ones being to help others and to enjoy a good financial return. The most successful power-lenders on SoLo have maintained a portfolio with limited defaults, and we connected with some of them to gather their best tips and strategies to guide you as you begin your lending journey.

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Choosing the Best Credit Card For Your Needs

Secured vs. unsecured? How does a credit card differ from debit? Why would I want to take out credit if I already have the finances to cover a purchase? Credit cards may seem simple at first glance, but there’s a lot more that meets the eye when it comes to using them for real. Get the down-low on how to become a responsible credit user, as your credit history can greatly influence your financial options later on in life.

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What Is SoLo Funds?

We’re an app. We’re a Marketplace. We’re a facilitator. But first and foremost, we’re here to help. SoLo is a mobile lending exchange that connects lenders and borrowers to provide affordable access to loans under $1,000. We've already helped more than 100,000 people through hard times by providing a tool for them to secure the short-term cash that they need. Our app is free to download and request loans as a Borrower, or fund them as a Lender.

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