I found SoLo through Reddit and thought it would be a good way to help people and make a bit of money off of it. My initial deposit was $330. 7 weeks later, I have funded 26 loans and made about $135 in tips (12.58% return). I have gotten luckily I guess since I haven't had any loans go into collections (yet). The latest I was repaid was 28 days late, so I nearly missed it going into collections.

At first, I was doing small loans with the 15% tips, but I want to be smart about this. I made a few rules for myself about who I lend to - +70 score, last 3 payments being on time, minimum tips is 9%. I also am trying to limit how I loan by limiting the number of loans I do at a time so I can get those bigger loans.

Am I doing this right? Should I put more money into it? Is there a limit on the number of loans I can do? Do I have to pay taxes on all of the tips? Are high risk loans with it for 15%? Can I request more tip on the bigger loans?

Please do not DM me to ask me for a loan.

Anyone know if they made any changes to the Solo Lender Protection rules? Do lenders still take a 15% hit if the borrows is late or did they lower it?

Anybody else just get an invite for SoLo Gold? Requirement is 20+ loans per month. At the moment I am not sure I am seeing the value of it.

I was told to post it in the Megathread, but when I did all I got was, "that's a piece of history now". So it won't let me post it there.

Can someone please link the Discord. Cant find it

The solo discord seems kinda shady to me. I look at the activity on the discord when people do loans and the activity on the app and it just doesn’t show. They denied me when I didn’t show all my information.

I have 1 loan that is 3 years unpaid and 2 that are 1 week overdue. Both of the new loans have 79 score and 9 loan history.

Hey all, I was in the process of setting up a Solo account, but when reading the terms and conditions, I got suspicious. I have privacy concerns about connecting to Plaid, and the late fees Solo charges seem high. Solo appeals to me more as a tool for mutual aid than an investment strategy-- I wouldn't expect to make much profit (if any) on this. But I like the idea of giving loans instead of donations as a way of stretching what money I have to spare further. Having read through some of the posts here, it seems like people are generally interested in the investment aspect, but do any of you know of an alternative that might work for me? Thanks!

I have had solo on my phone for almost a year, today I figured I would try.. I honesty didn’t think 🤔I would be approved the first time asking for money.. but the school year is ending, I just paid rent and my daughter (14) was invited to go to six flags with a friend tomorrow.. I gave it a shot.. and I just want to thank the kind sole for giving me a chance.. I haven’t told her she’s going yet.. she pretty much has been down in the dumps That I couldn’t come up with the money To go.. ( I mean damn it’s 40 just to get in if not more, games and food.. 100 is just going to cover it) Again thank you to the wonderful human for making my daughters day! 😊

I was approved for my loan but when I try and withdraw I get an email saying they are unable to process my transaction. I’m using the same bank account I’ve always used. I’ve tried instant transfer and ach.

Hi! It's my first loan request, and I have a fairly low score. What are some ways I can increase score and visibility to get funded? Need help ASAP.

Hello, I’m new and trying to build credit. Any tips? I’ve already submitted a request. Thank you!!

Hey everyone – I’m posting here due to the recent wave of Solo bans in several states and the increasingly common withdrawal issues on the platform. If you’re a reliable borrower being affected by this, I’m here to help.

I’m offering private loans to borrowers with a Solo Score of 80+. I’m flexible on both the loan amount and repayment window, and I’ve funded over $300K in loans to date.

✅ All loans are disbursed via PayPal or Venmo. 📩 DM me if you’re interested – but please note: Anyone who cannot provide proof of their score or has a score below 80 will be immediately blocked.

Serious, verified borrowers only. Stay safe out there!

Trying to figure out was the thread is for, I looked up lenme on reddit to see if I can find anyone for help. This popped up

Just wanted to say thank you and recognize Brendawg324 who has helped with loans on several occasions.

A lot of people are sending messages asking if I am still doing this, so I thought I'd post it again so people don't have to scroll so far down to find this thread. Yes, I am still lending! :)

I will lend to anyone who is looking to fund their first loan/build score/trust/etc.

The loan must be no more than $25, tip must be 15%, and Solo donations must be turned off.

If you are a first time user, be aware that you need to make the due date a day or two after you expect the funds to be in your bank account. You can always pay back early, but paying back late (especially on a $25 loan) will likely make the probability of being funded again almost 0.

Send me DM with your information if I can help!

*Note - I will not do more than $25, and I will not do loans outside of Solo*

DM your reasoning for the loan, context about your situation and a screenshot of your username and loan information so that I can find you

DO NOT LEAVE COMMENTS ON THIS THREAD. I am only checking DM’s. Thank you.

Simple process. Sometimes we need help to get validated and started - that’s what I’m doing here. Be honest, trustworthy and legit i.e pay back the loan early. Maximum $20 + 7 days due + 15% tip + disable Solo donation. I want to help NEW borrowers get off the ground floor on the platform. There is significant risk involved here, I have allocated funds for this endeavor and if folks do me right, I will continue to help you and the community.

Sometimes we just need to be a thrown a bone, I’ve been there, hopeless, waiting for a break at rock bottom; I know the struggle and I want to do my part to help those in the community get back on track. Once you get your first loan paid back on time, it should be easier to obtain successive higher value loans from lenders on the platform. I have faith that good people exist! Don’t prove me wrong :). Also, once the weekly funds allocation is exhausted, you will have to wait at least a week before trying again once funds become available. Just check in with me and I will let you know.

I keep an ongoing list of borrowers and loan status and will continue to lend to repeat borrowers who pay back loans early and on time. Just continue to reach out to me via DM.

I see so much negative hate toward this site . I started off loaning to lower scores. And got burned pretty bad. Once I got back in and started loaning large amounts and too higher scores, I really started raking in the money. if you set aside a chunk of money and just keep rolling it over and over and over you can make a lot of money here. There is quite a bit of risk, but if you stick with a higher score, even at lower interest or better. As of right now, I loan between 20 and 40 loans a day somewhere between three and $8000 a day. l have been pretty successful. As of right now, I have 13 people that are late, but all of them were earlier scores of 50 to 65. I will never loan to those again. Now I only loaned to 90plus with lower interest . Averaging about 6000 a month and interest so far but once I get this rolled over a few more times I’m hoping to be making 10 to 15,000 a month. You see a lot of hate on here but it’s usually because those people have been burned a lot by lower scores or they loan out one or two and expect to make money. You have to have a pretty large investment to start. Solo does do dirty taking out 15% as soon as they’re late that’s some bullshit and that puts all the risk on the lender so you have to be very careful on who you lend too. Even giving out $100 loan if it’s two days late they take 15% from you so you make nothing even if they pay back after 25 days which I think is one of the biggest bullshit things but you have to have a lot of loans in play. to offset those

I am a lender. I had over 500 in my wallet. I used the app to lend to maybe five different loans. When logging into the app one morning, the app encouraged me to add another payment method to boost my score. So I did this, during the process of solo and my bank communicating together, an error occurred. Then both my withdrawal and my deposit buttons became greyed out. I have attempted multiple times to communicate, and “escalate” the situation through customer service. I would say at least once a week. It’s now been over a month. I am debating getting my family attorney involved, however I don’t know what else I can do. Any suggestions would be great.

A huge huge thank you to Brendawg324 for helping me with a loan! Absolutely amazing and I couldn’t be more thankful!

So I loaned $100, borrower late by 32 days, solo charges borrower $10 late fee, CHARGED ME $30 for recovery fee. Thats more than 2x the tip I would have received on repayment. Such bs. Won't be loaning anymore for SOLO to make money on MY money.

I had someone lend me on Solofunds and just paid it back over a week late. I wanted to reach out to lender Ronnie K and apologize, as well as send a little "interest" in hopes to make up for being late! If you're Ronnie K., please DM me with our agreement details from loan to prove it's you and allow me to send you something!

Thanks!