SoLo Funds
Community finance platform for peer-to-peer lending and borrowing to provide short-term emergency funds without mandatory fees or compound interest
A community finance platform for peer-to-peer lending and borrowing that provides short-term emergency funds without mandatory fees, compound interest, or rollover fees. It serves individual consumers needing small emergency loans, including those with limited credit history and in underserved areas, as well as individuals who want to fund loans for a return. It operates as a mobile marketplace where borrowers set terms and offer optional tips and lenders choose applications to fund, with wallet, debit card, and credit-building services.
Key features
- Peer-to-peer lending between members
- Borrow on borrower-set terms
- Optional tip instead of interest
- No rollover fee
- No compound interest
- Lender protection program
- SoLo Wallet for transactions
- Debit card with global ATM network
- Life insurance protection
- Credit score building
- SoLo IQ personalized AI co-pilot
- SoLo score for funding chances