r/Sololender

I have paid back a Solo loan before and been held off from requesting another one by Solo, saying something like "You can only take 1 loan in 5 days." Can anyone confirm what the rule actually is, given my current score of 79? Thanks so much.

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I know the score is low, is my first time using the app and already put up 3 payments methods but I can’t see to catch any lender attention, I have a job and willing to start a relationship with any lender.

I just put in my first request. $50 and a $7.50 tip. My score is 52. In your guys experience, do you think anyone will lend it or will it take forever?

Peter B

"Short on toddler birthday supplies"

I just joined and posted my very first loan request. My question is this. How many people do they expect too have more than one bank account too raise your score by a free 10 points? I dont understand the point of that one honestly, and it feels unfair too everyone who has only one bank account like the average person does, since I saw someone say a lower score is only shown too people who have lent alot barely anyone should see my request? Unless im mistaken on how it all works. And if I am I am. Glad too be corrected

Posting my loan in the comments so someone can tell me if there is gonna be problems with it and stuff

This one dragged out and took far longer than expected, and we still haven't quite gotten there. I last emailed them a few months back and they were expecting to not have a significant past expense to deal with moving forward, but even though we're in the last 1/5 of the amount owed, I haven't been made whole.

As of writing, I have received approx. $200 CAD short of the full principal amount accounting for PayPal exchange rate on each payment, and (obviously) no interest.

I'm marking this unpaid with the hope they reach out and make things right if they see this. I don't think it's malicious intent as they otherwise were a great borrower to deal with over the years.

Need $80 dollars will repay $100 next week Wednesday

So I will say right off if you don't want to read this whole thing, Don't do it..

I initially started very small to test the waters and see if it was a viable way make some passive income, I saw the numbers like this: for every 100 loans, 60 would pay back, 40-30 would pay back within a month and the other 10 would default. Now the predatory fees solo the platform inacts.. so they have it that they will make money no matter what! Hear me out... they make money when everything goes great like it should from the borrowers donation.. they also make money when borrowers are even a day late with fees on the borrowers and YOU! it's called a recovery fee and they literally take it out of you the lender at 12% of the principal, that should be illegal but apparently the courts recently this year sided with them.. so now you lose money on every single loan that was late and not over 12% tip, you broke even on all the ones that were 12% and made very little money on the ones over 12%. Then after 30days late they add another charge that's supposed to go to the lender but they know the numbers, they only add that fee after 30+days because they know that 90% of the time if they haven't paid back by 30days, then it's gonna be a default loan and you won't be getting that fee anyway. Finally they make money on all the defaults because of the donation that you had to pay upfront as the lender plus the principal so when the borrowers defaults they lost nothing and keep the donation you had to pay leaving you completely holding the bag... I did a total of 100 after the initial test in one month the rules for loaning out were: solo scores 61 or above, no loan bigger then 100, and no newbies. So all my loans were people who have paid back, scores in the blue, and only 100$ to spread the risk. Well 18 are still overdue, the oldest one is 52 days the latest one is 35 days, I assume them all to be defaults... that'll means after tallying up, I lost about $872 and half a year of anxiety on my life... so to wrap up.. DONT DO IT, ITS NOT WORTH IT.​

I tried paying back a loan early today. Went through all the steps and everything seemed fine but it never took the money out of my account and there is no indication in the Solo app that a payment was made.

I tried contacting support but they said they don’t see any payments on their end. I’ve tried a couple times now and I’m getting the same result.

​

Hi everyone,

I'm looking for a private loan of ₹3,00,000 for a period of 3 years.

Terms:

Loan Amount: ₹3,00,000

Tenure: 36 months

Interest Rate: 15–20% per annum (negotiable)

Repayment: Monthly EMI

For security and transparency, I'm willing to:

Sign a legally binding loan agreement.

Execute a notarized affidavit/promissory note.

Provide valid government ID and address proof.

Share any additional documents required by a genuine lender.

For more details, please DM me.

Only genuine lenders or serious individuals, please. No upfront fee requests or scams.

Thank you.

Can anyone help with what to do about this? I can’t get my first loan because I have terrible credit and only have chime. None of my other (albeit useless) online banks will register right on the solo app. So with my crappy looking chime account only I have a score of 40. Help!

I can provide proof of income and whatever else needed. I have a VERY important payment that needs to be made before Monday. I had to switch my direct deposit for my check and it will not go through in time. Unable to borrow from anywhere because I just switched my direct deposit over

I took out a loan through the app and I’ve been trying to pay it back, but I keep getting an error message. I’ve sent four emails to support and submitted a ticket, and still nothing.

I even called my bank to ask if Solo was somehow blocked on their end. They told me it has nothing to do with my account or card — the transaction isn’t even reaching them.

Could this be my lender trying to scam me? I need feedback, please, since customer service doesn’t want to help me. I also have picture evidence of everything — I’ve been trying to pay back my loan since Tuesday, and now I’m about to get marked overdue because of their poor service.

I’m starting to think Solo does this intentionally, but I’m also new to the app, so I’ve come here to ask about others’ experiences. Any advice would be appreciated.