SoLo Funds: Lend & Borrow 3.12

SoLo Funds Inc. – Freeware – Android iOS
out of 26216 votes

Empowering Peer-to-Peer Lending with SoLo Funds

David Fischer

04/03/2025

SoLo Funds offers a straightforward platform for individuals seeking quick loans while enabling lenders to provide support within their community, though concerns about fees and repayment terms should be noted.

Access up to $575 on your own terms or contribute funds for social impact and returns.

Fun fact: SoLo Funds is a Certified Public Benefit Corporation.

SoLo is a community finance platform where members support each other. We provide financial services for real people, powered by people. We support one another because we believe in each other.

Here's why thousands of members choose SoLo:

Access up to $575 on your own terms: Unlike others, we give you choice and control. No interest, no credit checks. We stand together and support each other through this.
Earn money while helping others: SoLo allows you to make a social impact while earning a return on your money. Our data-driven tools help you verify and make smarter choices. Fund a request today and be a part of people helping people.
SoLo Protection: We prioritize community safety through secure and seamless communication between bank accounts, creating a safety net for potential losses.
SoLo Wallet: Take advantage of our banking solution to build financial autonomy. Deposit, withdraw, and bank with SoLo.
No hidden fees: We are transparent with our fees. SoLo guarantees no hidden fees, no minimum balance fees, transaction fees, expedition fees, or overdraft fees.
Get Money University: We believe that access to information is vital for building strong financial habits. Take our courses and share this free resource with others.

For more information, please visit our website https://solofunds.com/.

(1) $575 Cash Requests: Criteria applies, see Terms for more details.

(2) SoLo Wallet: The bank services are provided by Synapse's partner banks, Members FDIC.

Zero APR, no interest rate, zero interest.

All loans, regardless of the early repayment schedule, have the same terms, with 90 days for repayments and default. The early repayment schedule for a loan request may vary between members. All loans can be paid in full within 90 days or until defaulted. You can skip your initial scheduled early repayment date without any issues and manually repay it in-app at any time. The minimum and maximum repayment schedule is up to 90 days. All loans must be paid in full within 90 days or until defaulted.

See SoLo's Privacy Policy https://solofunds.com/privacy

Overview

SoLo Funds: Lend & Borrow is a Freeware software in the category Business developed by SoLo Funds Inc..

The latest version of SoLo Funds: Lend & Borrow is 3.12, released on 07/04/2024. It was initially added to our database on 09/15/2023.

SoLo Funds: Lend & Borrow runs on the following operating systems: Android/iOS.

Users of SoLo Funds: Lend & Borrow gave it a rating of 4 out of 5 stars.

Pros

User-friendly interface for both lenders and borrowers.
Allows users to lend and borrow small amounts of money easily and quickly.
Lenders can earn interest on their funds, providing an income opportunity.
The app fosters a sense of community by allowing users to support each other financially.
Flexible repayment plans for borrowers that vary based on the amount borrowed.

Cons

The interest rates for borrowers can be relatively high compared to traditional loans.
Lenders take on the risk of borrowers potentially not repaying, leading to potential financial loss.
Limited regulatory oversight may raise concerns about the legitimacy and user safety of the transactions.
Not all users may qualify to borrow based on creditworthiness, limiting access for some individuals.
The service is primarily available in specific geographical areas, limiting user base.

FAQ

What is SoLo Funds?

SoLo Funds is a mobile lending exchange that connects lenders with borrowers for the purpose of providing affordable access to small-dollar loans.

How does SoLo Funds work?

Lenders on SoLo Funds can offer small-dollar loans to borrowers in need. Borrowers can request a loan, and once approved, they receive the funds directly to their bank account.

Is SoLo Funds safe to use?

SoLo Funds prioritizes the security and privacy of its users. The platform uses encryption to protect user data and transactions, and lenders and borrowers are verified through a comprehensive verification process.

What are the benefits of using SoLo Funds?

Some benefits of using SoLo Funds include quick access to small loans, affordable interest rates, transparent fees, and the ability to build a credit profile by repaying loans on time.

Who can use SoLo Funds?

SoLo Funds can be used by individuals who are at least 18 years old, have a valid U.S. bank account, and pass the verification process on the platform.

How quickly can borrowers receive funds from SoLo Funds?

Once a loan request is approved on SoLo Funds, borrowers typically receive the funds in their bank account within 24-48 hours.

What are the interest rates on loans through SoLo Funds?

Interest rates on loans through SoLo Funds vary depending on the lender and borrower agreement, but they are generally more affordable compared to traditional payday loans.

Can borrowers extend their loan terms on SoLo Funds?

Borrowers on SoLo Funds have the option to extend their loan terms for an additional fee, but it is recommended to repay loans on time to avoid additional costs.

Are there any fees associated with using SoLo Funds?

SoLo Funds charges nominal fees for its services, including a service fee for facilitating the loan transaction. These fees are transparent and disclosed upfront.

Is there a limit to how much borrowers can request on SoLo Funds?

Borrowers on SoLo Funds can request loans ranging from $50 to $1,000, depending on their financial need and borrowing history on the platform.

David Fischer

I am a technology writer for UpdateStar, covering software, security, and privacy as well as research and innovation in information security. I worked as an editor for German computer magazines for more than a decade before joining the UpdateStar team. With over a decade of editorial experience in the tech industry, I bring a wealth of knowledge and expertise to my current role at UpdateStar. At UpdateStar, I focus on the critical areas of software, security, and privacy, ensuring our readers stay informed about the latest developments and best practices.

Latest Reviews by David Fischer

Screenshots (Click to view larger)

Related products

Albert: Budgeting and Banking

The Simple Way to Budget, Bank, Save, and Invest Save and spend smarter by managing your finances with Albert. With Albert, you can efficiently control your budget and spending across various accounts.

AWL Mobile

AWL Mobile by American Web Loan is a user-friendly software designed to provide a seamless mobile experience for accessing financial services.

B9 - Cash Advance

Tired of waiting for your next payday? B9 offers a solution to access your paycheck when needed. B9 lets you advance your cash as you work, bypassing the long wait until your next payday.

B9: Fast Cash Advance

B9: Convenient Cash Advances at Your Fingertips

B9: Get Cash Advance Instant

B9: Instant Cash Advances Made Easy

Beem: Better than Cash Advance

Beem (formerly Line) offers a comprehensive solution that sets it apart from traditional instant cash advance apps, payday loans, personal loans, and credit products.

Beem: Get Instant Cash Advance

The Beem (formerly Line) AI-powered Smart Wallet App offers a range of features to help Americans manage their finances more efficiently.

Beem: Instant Cash Advance App

Beem: Your Fast Lane to Financial Flexibility

Beem: Your Go-to Money App

Beem: Simplifying Your Finances with a Modern Touch

Branch: No Wait Pay

Branch: Streamlined Payments, Zero Wait Time

CashNetUSA

CashNetUSA: Quick Cash Solutions at Your Fingertips

CLAIR

CLAIR: Innovative AI for Streamlined Workflows

Credit Genie

Unlock Your Financial Potential with Credit Genie

Credit Genie: Get Cash Advance

Enhance your financial well-being with innovative financial tools and services offered by Credit Genie, and discover more effective ways to manage your expenses. CASH BOOST UP TO $100†: A little boost can always come in handy.

DailyPay On-Demand Pay

Revolutionizing Paychecks: DailyPay Gives You Access to Your Earnings Instantly

Detour Loan - Payday Loans USA

Experience the convenience of applying for a loan easily and quickly with the LendYou app. With just a few simple steps, you can secure a loan ranging from $100 to $1,000 in under 2 minutes.

FloatMe: Fast Cash Advance

FloatMe is a financial service designed to facilitate money management. By joining FloatMe, you can access quick cash advances straight into your bank account without credit checks or interest charges.

FloatMe: Instant Cash Advances

FloatMe: Your Go-To Solution for Instant Cash Advances

Gerald: Cash Advance App

Streamline Your Financial Needs with Gerald: Cash Advance App

Grain: The Digital Credit Card

Grain: Revolutionizing Digital Payments with Seamless Credit Access

Hiatus: Bill and Money Manager

Say hello to Hiatus - the smart way to monitor your accounts, track your subscriptions, and take control of your finances.

Hundy - Money When You Need It

Hundy Makes Quick Cash a Reality

Inkor Loan - borrow money app

Inkor Loan: Quick and Convenient Borrowing at Your Fingertips

Klover - Instant Cash Advance

Klover: Quick and Convenient Cash Advances at Your Fingertips

Kora Money

Kora Money: Seamless Financial Solutions at Your Fingertips

Kora Money College Student App

Introducing Kora, the finance app designed specifically for college students. Managing your money during college can be challenging, but Kora is here to make it easier.

Lenme: Investing and Borrowing

Simplified Peer-to-Peer Lending at Your Fingertips

Loan One - Online Cash Advance

Loan One offers a solution to your immediate financial needs, whether it's medical bills, auto repairs, or short-term funds. With our quick approval process, you can get the cash you need promptly.

Loan Star - Instant Money Now

MaxSol - Payday Loans

Money App - Cash Advance

Money App Cash Advance Are you in need of cash? Money App allows you to access up to $250 for essentials like groceries, gas, rent, bills, and more.

MoneyDiary®

MoneyDiary® 9.0 allows you to efficiently manage your finances on the go. Here are several reasons why this app might be worth considering: Functionality: Users find that MoneyDiary® delivers on basic financial tracking needs while …

MoneyLion: Banking & Rewards

MoneyLion: A Comprehensive Banking Solution with Rewards

MoneyLion: Cash Advance App

Revolutionize Your Finances with MoneyLion: Cash Advance App

Oasis - Cash Advance & Credit

Oasis offers Cash Advance service from $25 to $250 instantly*. There are no hard credit pulls, no money down, and no minimum credit score required to qualify.

ONE@Work (formerly Even)

ONE@Work (formerly Even) collaborates with renowned employers, such as Walmart, to offer convenient tools that empower individuals to manage their pay efficiently, eliminating any unnecessary complications.

OneBlinc

Looking for a convenient solution to bridge the gap between paychecks? OneBlinc offers a unique opportunity for public sector employees to access a portion of their salary, ranging from $50 to $250.

OneMain

OneMain: Simplifying Personal Loans with Ease

Oportun: Savings made easy

We align your finances with your objectives by considering your spending patterns, income, expenses, and overall financial status. It's a seamless approach to assist you in saving for both major and minor goals.

Payday Advance - Borrow Money

Quick Cash on Your Terms with Payday Advance

Side Hustle App

Unlock Your Earning Potential with Side Hustle App

SoFi - Banking & Investing

SoFi: Your All-in-One Finance Solution

SoFi - Banking and Investing

Earn up to 4.60% on checking and savings accounts with SoFi.* Get up to $1000 in stock when you fund an active Invest account.† WHY DO OVER 5 MILLION MEMBERS LOVE SOFI?

SoFi - Mobile Banking

SoFi Mobile Banking: Seamless Financial Management at Your Fingertips

SoFi: Mobile Banking App

Effortless Banking on the Go with SoFi

Sonata Loans: Cash Advance

Sonata Loans offers a convenient and efficient mobile app that provides instant installment and cash advance loans. With a focus on simplicity and ease of use, the app allows you to borrow up to $2500 with a simple and straightforward …

Vola Finance

Vola Finance: A Comprehensive Tool for Financial Management

▼ ▲

Secure and free downloads checked by UpdateStar

Stay up-to-date
with UpdateStar freeware.

Latest News

	My Town : Fashion Show Dressup Unleash Your Inner Fashionista with My Town: Fashion Show Dressup!
	Origin Bank Streamlined Banking Experience with Origin Bank
	Les Mills Releases Boost Your Fitness Routine with Les Mills Releases
	PDF Hero - PDF Editor & Reader PDF Hero: A Comprehensive PDF Editor with User-Friendly Features
	Tape Measure light Precision Meets Convenience: Tape Measure Light by Marton Varga
	TIYA Connect with Friends and Family Effortlessly Using TIYA

Most Popular Downloads

	UpdateStar Premium Edition Keeping Your Software Updated Has Never Been Easier with UpdateStar Premium Edition!
	Microsoft Visual C++ 2015 Redistributable Package Boost your system performance with Microsoft Visual C++ 2015 Redistributable Package!
	Microsoft Edge A New Standard in Web Browsing
	Google Chrome Fast and Versatile Web Browser
	Microsoft Visual C++ 2010 Redistributable Essential Component for Running Visual C++ Applications
	Microsoft Update Health Tools Microsoft Update Health Tools: Ensure Your System is Always Up-to-Date!