SoLo Funds App Fees & Pricing

I see the potential, but I can't get with both sides being charged while the company sits back and takes no risk.

SoLo has honestly been really helpful and comes in handy during times of need. My only problem is that most of the lenders only seem willing to fund requests with the maximum tip. As a borrower, you know what you can realistically afford to pay back, and combining a high lender tip with the SoLo donation can make repayment expensive. Other than that, I’ve had a good experience and appreciate having SoLo as an option when I need it.

because you guys said that I was 2 days late on a borrow and I wasn't I was one day late on top of taking my credit how much to borrow you took that down charge me a late fee and it was only one day late I think that's very appreciative to customers

When it comes to barring money , it is the worst experience ever the app is going to start you with a small score.Expect you to link 3 bank accounts.Charge you $1 on each card they say they will refund that $, but it's been 3 days.\nAnd they say they will refund it in 2 days.They have not refunded that yet and self does not let you borrow money.Individual people are gonna look at the score that that app gives you and say.No , i'm not gonna let you borrow money

the app works, but the marketplace seems completely pointless. every lender has the exact same terms, so I don't understand why a range of terms you can set is even offered. what's the point of the app? just say what the terms are and quit trying to hide them. EDIT: It's funny they are asking for specific examples when they have everything already. I've been offered loans dozens of times, ALL with the same exact terms. and they know that. this is most expensive money you will ever borrow

SERIOUSLY THE ABSOLUTE BEST LENDING APP OUT THERE!! The extra fees suck, however.. its been a god send for me with bills and emergencies. and I understand the lenders need to be paid as well. all in all id definitely give 5 stars otherwise bc the app itself has been SUPER helpful!!

The app works just like you'd expect, but borrowing can be pretty expensive because you have to tip the loaner and the app. I think the app probably takes more than they should as an intermediary.

Lenders beware. You provide the money and take the risk, yet SoLo can leave you losing money even when a late loan is recovered. On my $50 loan, I get a $7.50 late fee, while SoLo charges me a $17.50 recovery fee. Even with the original $7.50 tip, I only get $47.50 back. The borrower is late, SoLo gets paid, and the person whose money was actually at risk loses principal. This fee structure completely contradicts the "community finance" image they promote.