SoLo Funds is an application for Android devices that is a financial platform for mutual assistance. The utility allows US residents to borrow or lend small amounts of money without interest or credit checks.
How it works
To become a member of the SoLo community, you need to register by entering your personal data. You have the opportunity to borrow up to $500 or lend your funds to other users. There are no operation fees or other hidden charges, unlike Woodforest Bank.
If you borrow money, you pay a small one-time tip to your lender. In addition, a minimum donation to the SoLo community is paid. You choose the term of the loan yourself – from one day to 90 days. The credit can be repaid early at any time.
Loans and wallet
The Marketplace tab displays all current requests and loan offers at the moment. The amount, tip, and date of payment are indicated. It is possible to view detailed information about users.
You can view all your loan data in a separate tab. It is possible to create a SoLo Wallet and use it for transactions on this platform. You can attach a debit or credit card to replenish and withdraw funds. There is no commission for these operations.
Features
- is a financial platform for mutual assistance;
- allows US residents to lend and borrow money without interest;
- you can get financial support from other members of the community;
- tips and donations are provided;
- there is a built-in wallet for transactions;
- app is free to download and use;
- compatible with current Android versions.
