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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dmann falso
US

No help or response to emails No help or response to emails. Platform is blocked and Solo is not helping clients. Promised 24-48 hours and has bedd red n 8 days. Their help network is down and they are not answegg r ing f ed mails

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chad
US

Beware of this scam because that's what… Beware of this scam because that's what it is, it was good for a couple months as they give you the ability to lend out your own money then get paid back your money with a tip. but it quickly will always turn very bad for lenders, I started lending loans of $50 out because I figure I cant get hurt to bad right? wrong because after a while you will not get paid back, this is a %100 SCAM, STAY AWAY

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John Mason
US

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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Cherie Mason
US

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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Sam green
US

Lost over $5,000 Lost over $5,000 People never pay back. You have better chances in the casino

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