How much can I borrow?
The loan range on the platform is between $50 - $1,000. The more you use SoLo and successfully repay your loans early and on time, the higher your SoLo score will grow and your borrowing limit will increase over time!
When will my loan request be fulfilled?
Funding a loan request is up to the discretion of a lender. To make your loan more attractive to lenders you can try: offering a generous lender appreciation tip when you create your loan. This becomes the lender's profit and provides an incentive to ...
What happens if a borrower doesn’t repay on time?
If a loan is not paid on the scheduled repayment date, our recovery team will begin its attempt to recover the loan. We deploy a manual and auto-check process that is currently performing 5x better (best in class) than standard recovery providers. ...
Can I borrow more than one loan at a time?
Borrowers are only permitted to request one loan at a time. Once a loan is fully repaid and the status is marked ‘completed’ a Borrower can proceed with requesting another loan.
Can I be a Lender and Borrower?
Yes! Lend to help others when you have extra cash, but when life hits you with a financial surprise (which is inevitable) be a Borrower on the platform. The only stipulation is that you cannot lend and borrow simultaneously.