SoLo Funds is a Cincinnati-based startup that’s providing a solution for the average American worker — many of which can’t afford emergency expenses because of how small loans work in our financial institutions. And it’s using community to do so.

 

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For most people who need to borrow a small loan, traditional banks aren’t an option. And we know that payday loan institutions charge high interest rates and often take advantage of borrowers. But SoLo Funds is a mobile lending exchange connecting lenders and borrowers for the purpose of providing more affordable access to loans under $1,000.