Borrowing
When will my loan request be fulfilled?
December 27 2024 9:09pmGetting a loan request funded is up to the discretion of individual lending members. Borrowing members choose how much and when they pay, including if they want...How can I change the information on my submitted loan request?
December 27 2024 9:12pmUnfortunately, loan requests can’t be edited after they’ve appeared in the marketplace. To make changes, please cancel the request and create a new ...Can I cancel my loan request?
May 31 2022 10:54pmTo cancel your loan request, please go to your user profile, locate your active loan, click on the loan and select ‘Cancel Loan’ at the top right co...How much can I request?
November 27 2024 10:46pmWe’ve currently set a range of $20 to $625 for loan requests. Your SoLo score determines the upper limit. The more you use SoLo and repay loans early or o...Can I borrow more than one loan at a time?
May 10 2022 5:58pmMembers are only permitted to request one loan at a time. Once a loan is fully repaid and the status is marked ‘completed,’ you may request another ...What if I miss my scheduled repayment date?
May 31 2022 10:56pmWe encourage members to make their scheduled loan repayment dates. When that doesn’t happen, here’s what to expect:A late fee of 10% of the principa...Unable to pay by my due date?
March 9 2022 8:14pmIf you are unable to pay by your due date, please contact our support team for further assistance. ...When will I get a loan?
December 30 2024 9:01pmGetting a loan request funded is up to the discretion of individual lending members in the SoLo community. SoLo does not approve or deny any loans a...What if I don't get a lender proposal?
December 26 2024 7:15pmAll loan requests will remain active in the marketplace for 3 days unless the selected due date is within 5 days. If you are not matched with a lender in 3 days...What if I want to contact the lender to say “thanks for the loan”?
December 24 2024 2:21amAt this time, we don’t share personal information about any of our users. You can help keep the SoLo community healthy by lending to a borrower in need or...Why can't I request a loan?
November 23 2021 9:36pmWe have requirements around your bank account(s) status that need to be met in order to request a loan. All bank accounts linked to your profile must have ...What if my loan request doesn't get funded?
May 10 2022 6:30pmIf your request is not selected to be funded by an individual lending member within 3 days, your loan request will expire and you will be notified to create and...How does SoLo Boost work?
March 11 2025 11:46pmSolo Boost is a feature designed to help increase your score by connecting additional banks and debit cards. You can connect up to 3 banks and 3 debit cards at ...Can I replace one of my connected banks or cards?
March 11 2025 11:40pmYes, you can replace any of your connected banks or cards once you have added 3. When doing so, you'll be given the option to choose which existing card or ...How do Multiple Payment Methods and SoLo Boost affect loan funding and scores?
March 11 2025 11:48pmBorrowers who use multiple payment methods have a higher probability of receiving funding and can increase their SoLo Score outside of on-time loan repayments. ...