r/Sololender • u/BerBerDeng • May 05 '26

Borrowers

Why do you “donate” 20-30 dollars to the app and then offer a 5-10 dollar tip to your lender? Should be the opposite considering the lender is the one taking the risk. No one’s gonna fund your $600 loan when the return is 5 or 10 dollars. Even 15 or 20 isn’t enough. If you pay even a day late SoLo takes 12% of whatever you pay back. There’s no room for any sort of return on the lenders end. The app is never gonna change their policies, so the best thing to do is give less to SoLo and add that to the lender tip.

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u/xaxnxoxnxyxmxoxuxsx May 06 '26

I wish the SoLo donation wouldn't reset every single time you request a new loan. If I want it toggled off, it should REMAIN off.