Do not invest in this application Do not invest in this application . It’s completely not worth it and trash . When you are a borrower the process goes smooth because they need you to borrow so they can make money out of it .but as an investor that invest almost 5k in this app. A lot of my borrower were so late and the recovery team make you believe they work on your behalf to recover your fund but they’re just a bunch of bot that don’t know what they do . Till today I’m not able to recover some of my money I lend thru this platform ,I’ve contacted their bot recovery team and till now nothing happened I’ve lost it. Solo lending ,you make money because of investor too not only borrower so make sure investor can recover their funds too ..borrower can borrow the funds and disappear for years !!! Their recovery team not will not do anything.it’s sad and I need my money back!!!!!!!!!!! Ive contacted them so many time but nothing and im really pissed because investor also need money !! Do NOT Waste your time , effort and MONEY into this . It’s trash !

Solo was fantastic at first then... Solo was fantastic at first, I tried borrowing funds, the process was seemless and fast. From requesting on the marketplace, to the truth in lending disclosure. Everything was on point and perfect. Then I went on to lending, the first loans I made, went mostly as planned the individuals were on time as they paid same day as the loan was due after having debit card issues in the am. Then we get onto the second round of loans I made to individuals. The loan distribution process was seemless, on to due day, not a single one of 3 individuals paid their loans, apparently the visa debit processing was down so this was understandable, at least I thought, the next day rolls by and 1 loan defaults and I get paid from the insurance I opted for which Pays less than the overall principle. Fine one of three right, well then the 2nd defaults and the 3rd pays on time according to the revised schedule due to the visa payment issue cool I think. Because it so happens to be a time I need the funds, approx $150. Well 90 is in credits due to insurance payments so I have to loan that out and get successful payments to withdraw my money fine. I went too loan out to someone and lone behold my account is on hold / blocked and I can't withdraw my $60 nor can I loan anyone. Now this is back in mid May, fast forward to now July 1st, and guess what the issue still is not resolved by support which as of early June had to involve engineering to fix this issue... over 45 emails have been exchanged due to a lack of phone support and most of the emails is me begging for an update. Seriously everyone, solo is great, if u never ever need support, if you find yourself needing support, might as well quit using the app, the support is horrendous, uneducated, scripted, non-personal, and, quite frankly ill-equipped to assist a customer.

It worked out in the end Somehow I wasn't charged a late fee after all, and my payment wasn't counted as late. My SoLo score went up from 53 to 61. I'm updating my rating from 1 star to 4, but I'm leaving my previous review below just for reference. I'll continue to use this app, I just recommend new users to be cautious when first using the app and read reviews on your app store to know what to expect. *Previous Review* Don't use this app! First of all, I had trouble connecting my Chime account. It took 2 full days and 2 attempts to get it to connect. Waiting that long when you're in need isn't fun. Finally, my account connected successfully. I started out with a score of 53, not too bad I guess. My first request didn't get funded. So I withdrew that request and put in another one, this time I disabled the SoLo Donations and upped the Lender Tip, plus I set the repayment date 2 days closer. After a few hours, my loan was funded. I was very excited and relieved. Now I'll admit that part of my negative experience is due to my own negligence, I didn't read the fine print, and I had some unforseen things happen between the loan being funded and the due date that kind of screwed everything up. I had set the repayment date on the date that I would receive my paycheck. This wouldn't have been a problem, except some things came up which would leave me without enough money in my account to cover the repayment. Also, after reading the fine print and realizing that SoLo would automatically try to take the funds out of my account, it dawned on me that my paycheck doesn't usually come until the afternoon, and I had no way of knowing when SoLo would deduct the money from my account. So I ended up with a check to in the amount I needed to cover the amount due on SoLo. But I didn't get the check until the evening the day it was due. The banks were all closed. So I wouldn't be able to deposit the check into my account until the next day. I thought surely that solo would take it during normal business hours. So I could get up early and deposit the check before they took the payment. However, solo for whatever reason tried to take the money at 3am. So here I am on my way to deposit the check. I have the money to cover what I owe but according to the app, my loan is already considered overdue by one day. Even though today is the due date. Even if I pay the money today it will still be considered late even though I'm technically paying it on the due date. On top that solo is charging me a 15$ late fee when its not late.

Not for everybody like they say It's crazy that they frame themselves as this all inclusive, leave nobody out, everyone gets a chance type of platform. when it all comes down to it, they are nothing but another elitist, discriminatory, pseudo-helpful platform that's obviously only built for one type of demographic which is white people with slight money issues. I signed up went through the whole retreation process only get told that I'm not eligible because of their third parties who look into whatever they look into.

Where’s is the class action lawsuit at? It’s been almost a year since I used the app and so far lost $5k and their laughable recovery team stopped answering my emails about where my money is. It doesn’t matter because all they do is text the borrowers so if they blocked them then that is it, they get away with stealing money from people who wanted to help them.