SoLo Funds

            When will I get a loan?

            Funding a loan request is up to the discretion of a lender.  SoLo does not approve or deny any loans, it is completely up to Lender on which loans they decide to fund,   

            There are three primary ways to make your loan attractive to lenders:

            1) Offer a generous tip when you create your loan. This becomes the lender's profit and provides an incentive to do business with you. We currently allow borrowers to select a tip equal to up to 10% of their loan request.

            If you would like to offer a greater tip and you have an active loan request, you will need to cancel the existing request by going to your profile > current tab > loan card. 

            Loan requests will also expire from the marketplace if five days have passed without a lender authorizing your loan.

            2) Pay your loans back in full and on time. This will increase your SoLo score which is an in-app credit score. The higher your score, the more trust future lenders will have in you as a borrower.

            3) Write a compelling description of why you need the money, but keep it brief. "Bills" is probably not going to stand out as much as "Water bill", "Electric bill" or "Car repairs".

            Updated: 16 Jan 2019 07:03 AM
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