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 offer free financial literacy courses on topics like creating a family budget and planning for your financial future. 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.
Why Does SoLo Exist?
Nearly 80% of Americans live paycheck to paycheck these days, leaving a huge amount of the country one accident, unexpected bill, or missed week of work away from financial hardship. Getting your head above water again after a significant expense is especially challenging when living paycheck to paycheck, and people are often forced to turn to undesirable alternatives to make ends meet. Their options are often taking on additional debt, which costs more in the long-run and hurts their creditworthiness, or securing a payday loan. Payday loans are designed to make large profits by setting terms that are very difficult to meet and creating a cycle of debt that is intentionally difficult to escape. SoLo offers a healthier alternative for short-term loan needs by offering a quick and convenient source of money that does not come with hidden strings attached.
We are a small team based in Los Angeles, California working to rid the world of expensive and predatory payday loans, but we can’t do it without your help! Join the SoLo family and help us build strong financial communities together. Don’t go alone, go SoLo!