SoLo Funds is a peer-to-peer (P2P) cash advance app. It offers borrowing and lending options, and anyone who has a membership can lend or borrow from other members.
Like other cash advance apps, SoLo Funds offers loans with no interest, and there are no membership fees. Loan amounts range from $20 to $625 — higher than most of its cash advance app competitors. It also reports payments to the credit bureaus to help with credit building.
But it’s not perfect. The few SoLo Fund customer reviews out there are mixed, and loan terms are capped at 35 days. And if you need a lot of cash immediately, keep in mind your first loan amount is limited to $100.
Here are some great alternatives to the SoLo Funds app, highlighting different needs like longer repayment terms, larger amounts or when you need instant delivery.
- SoLo Funds’ perks. It’s a P2P app with no interest or membership fees, loan amounts around $20–$625, and it reports payments to credit bureaus.
- The catches. Terms are short (capped near 35 days), reviews are mixed, and first-time borrowers may be limited to about $100.
- How others differ on speed and size. Many alternatives emphasize faster instant delivery and/or higher maximum advance amounts than SoLo’s typical range.
Our 7 top picks for apps like SoLo Funds:
Alternative for budgeting features
Cleo
Cleo is a financial and cash advance app that makes it easier to track your money and save more. It comes in a free and paid version. The free version offers a range of features that allow you to track your spending and bills, autosave and ask questions about your finances in natural language text.
Its paid version, called Cleo Plus, includes everything the free version has plus cash advances through the app, overdraft protection and spending rewards, aka cashback, to your Cleo wallet. Cleo also has a credit builder program with a secured Visa card, but this program costs extra. While you can potentially borrow more through SoLo funds, Cleo offers more financial services and tools.
| Loan Amount | $20 – $250 |
|---|---|
| Turnaround time | 3 to 4 days or instant for a fee. |
| Costs | $5.99 monthly membership fee to access cash advances |
| Loan Amount | $20 – $250 |
|---|---|
| Turnaround time | 3 to 4 days or instant for a fee. |
| Costs | $5.99 monthly membership fee to access cash advances |
Read review
Alternative for accessing wages
EarnIn
EarnIn is a cash advance app that lets you borrow up to $750 of your earned wages before payday with its Cash Out feature. This borrowing limit is significantly higher than most cash advance apps, and unlike payday loans, there are no interest or financing fees to use Cash Outs.
To qualify for EarnIn Cash Outs, you need to be employed, have regular direct deposits and earn a minimum of $320 each pay period. You can transfer $150 a day to a linked bank account or more than $150 per day to an EarnIn card. Regular transfers are available in one to three business days or in minutes for a fee.
| Loan Amount | Up to $750 |
|---|---|
| Turnaround time | 1 to 2 business days or within 30 minutes for a fee |
| Costs | Free to use or within minutes with a fee as low as $2.99 per transfer |
- Not available in: Connecticut
| Loan Amount | Up to $750 |
|---|---|
| Turnaround time | 1 to 2 business days or within 30 minutes for a fee |
| Costs | Free to use or within minutes with a fee as low as $2.99 per transfer |
Read review
Alternative for instant cash advances
Brigit
Brigit is a financial wellness app that offers free advances on your next paycheck within 20 minutes of the request — if you’re already a member and have a linked debit card. Sign up to have advances sent to your account if you’re in danger of overdrafting.
The Brigit app is free to use, which includes budgeting and monitoring features. But you must have the Plus plan at $8.99 to $14.99 monthly membership fee a month to access cash advances. You’re only permitted to borrow up to $250 in each pay period, and Brigit doesn’t accept joint checking accounts. And unlike SoLo Funds, it doesn’t report cash advance repayments to the credit bureaus — though it offers a separate credit builder product that does.
| Loan Amount | $50 – $250 |
|---|---|
| Turnaround time | 1 to 3 business days or instant with a Premium subscription or for a fee. |
| Costs | Brigit Plus: $8.99/month; Brigit Premium: $14.99/month |
| Loan Amount | $50 – $250 |
|---|---|
| Turnaround time | 1 to 3 business days or instant with a Premium subscription or for a fee. |
| Costs | Brigit Plus: $8.99/month; Brigit Premium: $14.99/month |
Read review
Alternative for higher loan amounts
Upstart personal loans
If the typical $500 max borrow amount from a cash app won’t cut it, then a personal loan from Upstart might. Upstart offers loans from $1,000 to $75,000, with rates ranging from 6.7% to 35.99%. There’s no minimum credit score required — though most borrowers are in the 600 range. Upstart puts more weight on factors like your education, income and work history than your credit.
Upstart is available in all states, has no prepayment penalties and transfer time is typically within one business day. Its customer reviews are also very positive.
However, you may have to pay an origination fee as high as 12% of the loan amount. And unlike SoLo Funds or other cash advance apps, you’ll have to pay interest charges and lock into a repayment term between three and five years.
| Min. credit score | 300 |
|---|---|
| APR | 6.7% to 35.99% |
| Loan amount | $1,000 to $75,000 |
- Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia
| Min. credit score | 300 |
|---|---|
| APR | 6.7% to 35.99% |
| Loan amount | $1,000 to $75,000 |
Read review
Alternative for installment loans
OppLoans Installment Loans
OppLoans offers bad credit personal loans and only runs a soft credit check to apply, and unlike Solo Funds, you can potentially take up to 9 to 18 months to pay your loan back in most states. It also offers higher loan amounts than Solo Funds – up to $5,000 if you qualify.
But unlike Solo Funds and cash advance apps, it charges interest on its loans. APRs can hit up to 195% with OppLoans, but on the plus side it offers same-day funding if your loan is approved before 12 p.m. CT. It also reports your payments to the three major credit bureaus to help improve your credit score.
| Loan Amount | $500 – $5,000 |
|---|---|
| APR | 160% to 195% |
| Turnaround time | As soon as the same business day |
| Online application | Yes |
- Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia
| Loan Amount | $500 – $5,000 |
|---|---|
| APR | 160% to 195% |
| Turnaround time | As soon as the same business day |
| Online application | Yes |
Read review
Alternative for no monthly fees
Current
Current lets you access up to $750 from your upcoming paycheck without paying interest, subscription fees, or going through a credit check. You’ll need to have a Current account and at least $500 in qualifying direct deposits per month to be eligible. Repayment happens automatically when you get paid, and while standard transfers are free, you can opt to pay a small fee for instant delivery. It’s a convenient, budget-friendly option for covering short-term expenses without added financial stress.
| Loan Amount | $50 – $750 |
|---|---|
| Turnaround time | Up to 3 days or within an hour for a fee |
| Costs | Free |
| Loan Amount | $50 – $750 |
|---|---|
| Turnaround time | Up to 3 days or within an hour for a fee |
| Costs | Free |
Read review
Alternative for longer term installment loans
CreditNinja Installment loan
CreditNinja offers quick access to installment loans with an easy online application and no prepayment penalties. Depending on your state, you may be able to borrow a few hundred to five thousand dollars with flexible repayment terms, sometimes up to 24 months depending on where you live. It’s designed for borrowers who need money fast and may not qualify with traditional lenders.
| Loan Amount | $300 – $5,000 |
|---|---|
| Turnaround time | 1 to 2 business days |
| Costs | APRs over 36% plus fees |
- Available in: Alabama, Arizona, Arkansas, California, Delaware, District of Columbia, Hawaii, Idaho, Indiana, Kansas, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Wisconsin, Wyoming
| Loan Amount | $300 – $5,000 |
|---|---|
| Turnaround time | 1 to 2 business days |
| Costs | APRs over 36% plus fees |
Read review
How SoLo Funds compares
SoLo Funds is a solid P2P lending platform, with a high lending amount compared to other cash borrowing apps. Other cash apps such as Dave, Earnin and Possible allow you to borrow up to $500, and others like Vola only allow you to borrow up to $500.
SoLo Funds is one of the few that reports payments to the credit bureaus so you can build or improve your credit, though many other apps offer credit-building features separately.
There’s an optional feature to tip from 0% to 15% of your amount, and a voluntary donation that goes to SoLo Funds investors and a nonprofit. Like other cash apps, the tipping option gives lenders incentive to fund your loan. There are late fees, and if you don’t repay the loan within the term, you owe a late fee of 10% of your principal on the 35th day after the loan originated.
For more detailed information, read our full SoLo Funds review.
Pros
- High $625 advance
- Same-day funding available
- Reports payments to credit bureaus
Cons
- Max $100 for first loan
- Can’t lend and borrow at the same time
- Mixed customer reviews
