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Business Profile

Apps

SoLo Funds, Inc.

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 287 total complaints in the last 3 years.
  • 166 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:04/21/2025

    Type:Service or Repair Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On march 28 2025, I emailed Solo to stop all debits and Ach and or automatic payments from my checking accounts and debit cards. They have refused and are still attempting to debit my account. This debt is 3 yrrs old and I offered to set up payment arrangements. They have not reached out to make a plan. I cannot pay the full balance of $486 at once. I also do not want then to overdraft my account.

    Business Response

    Date: 05/02/2025

    Dear ******,

    Thank you for reaching out.

    Our records show you have a defaulted loan from 2022. We have gone ahead to process your ACH revocation request so no attempts will be made to debit your card(s).

    However, to ensure the ****** gets their fund and is able to loan to others, please make payment(s) to **** via any of our other payment channels e.g. ******. Our Customer Support can assist with a payment plan should you prefer.

    Thank ********************** Expert

    Customer Answer

    Date: 05/09/2025

     
    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

    Sincerely,

    ****** *****

  • Initial Complaint

    Date:04/02/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    SOLO FUNDS DENIED ME ACCESS TO MY ACCOUNT 05/04/2024. THEY WILL NOT LET ME WITHDRAW MY FUNDS OF $130.50. THEY SAY THAT THE ACCOUNT SETUP HAS FAILED AND NEED TO TRY AGAIN LATER. I HAVE EMAILED MULTIPLE TIMES WITH DEADLINES AND THEY HAVE NOT HELPED IN ANYWAY

    Business Response

    Date: 04/22/2025

    Dear ******,

    Thank you for reaching out.

    There was an issue migrating your account to the new version which caused the issue with funds withdrawal. 

    This has now been resolved and you can proceed to add your debit card or bank account to enable fund withdrawal.

    Thank ********************** Expert

  • Initial Complaint

    Date:03/19/2025

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Dear Better Business Bureau,I am filing a formal complaint against Solo Funds Astra due to their deceptive and unethical business practices. This company has been charging my debit card in a way that processes the transactions as wire transfers, which makes it difficult for me to dispute these charges through my bank. Additionally, they refuse to allow me to remove my debit card information from their system, despite my repeated requests.Their business model is misleading, with hidden fees and unauthorized charge attempts on my account. I have reached out to them multiple times to request a refund and to remove my payment information, but they have not responded or taken any action.I am seeking assistance in resolving this matter, including the removal of my debit card information from their system and a full refund of the charges they have made. I believe their practices are harmful and deceptive, and I hope the BBB can help prevent others from facing similar issues.Thank you for your time and attention to this matter.

    Business Response

    Date: 03/25/2025

    Dear *******,

    Thank you for reaching out.

    Our records do not show any ACH revoke request from you. The auto debits for loan repayment are in line with the standard loan process on the app for repayment of loans once due.
    If you would like to request an ACH revoke on your card, kindly do so through our Customer Support channel.

    Thank ********************** Expert

  • Initial Complaint

    Date:03/17/2025

    Type:Product Issues
    Status:
    Unresolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On 3/10/25 at :359pm I emailed a Revocation of authorization for electronic debits to Solo Funds. They would not advise they have accepted the Revocation and on Saturday March 15, 2025 they withdrew $577.00 from my bank account. Now they are saying the card was declined but I can see the withdraw on my bank account and the money is not there. I want my money back in my account and for them to honor the Revocation of authorization for electronic debits that I emailed on 3/10/25.

    Business Response

    Date: 03/20/2025

    Dear *******,

    We received your request to revoke authorization for electronic debits. Unfortunately the process was not completed before the due date of your loan on March 15th, 2025 which prompted an automated debit for the repayment. 

    We noted that you also requested a new loan which was funded on March 15th, 2025. Therefore, we are unable to refund you on the new loan as the revokation request has been fully processed.

    Thank ********************** Expert

    Customer Answer

    Date: 03/26/2025

     
    Complaint: 23076927

    I am rejecting this response because:

    I sent the email on 3/10/25. This was well before my 3/15/25 due date. If you would have honored my request to revoke auth in a reasonable amount of time, this wouldnt have happened. I have disputed this with my bank and want a refund due to the fact I sent what I needed to. Your Engineer should not take but a day or so. It was 5 days in advance. If you do not have enough man power at your company to handle things then maybe hire more help. I did what I needed to by law. 

    Sincerely,

    ******* ******

  • Initial Complaint

    Date:03/17/2025

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    The app is constantly having issues allowing you to withdraw your funds from the loan its been over 2 weeks and Ive reached out them via email and one the app and they lie about fixing the issues and nothing gets done . One representative lied about getting the loan canceled for me since Im unable to add my debit card and still no response from anyone and it still shows I owe the person that let me get the loan. How is that possible? They should have been resolved the issue but not respond back . But they are fine with stealing your money this business needs to be shut down for our inconvenience when multiple people are having the same issue

    Business Response

    Date: 03/18/2025

    Dear *****,

    You loan request funded on March 7th, 2025 had a due date of March 22nd, 2025. Unfortunately due to a technical error, you were unable to withdraw funds. 
    Be rest assured that the loan was cancelled on March 17th, 2025 and the funds returned to the Lender so you are not responsible for loan repayment.
    Please try submitting a new loan request on the marketplace.

    Thank ********************** Expert

  • Initial Complaint

    Date:03/14/2025

    Type:Sales and Advertising Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On February 12 I attempted to get a loan. I was approved for the loan in an efforts to withdraw the loan. I accidentally deposited $200 and was unable to withdraw. Every time I reached out to anyone for assistance they continued to say the situation had been escalated, the engineering team was working on it. I was told the loan was canceled would receive funds none of this has occurred

    Business Response

    Date: 03/20/2025

    Dear ********,

    Thank you for reaching out.

    Your account has been unlocked and the $200 has been returned to your wallet. We noted you have been able to withdraw this.

    Kindly note that one of your loans was repaid using your wallet balance.

    Please let us know if there is anything else we can assist you with.

    Thank ********************** Expert

  • Initial Complaint

    Date:03/11/2025

    Type:Customer Service Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I started utilizing solo funding as a lender. Currently I am trying to draw my money from them and they will not give me access. They have roughly ****** dollars of my money and have been trying to get them to fix this so-called problem for weeks with zero help. I am currently in the process of hiring an attorney to take this to the next level.

    Business Response

    Date: 03/13/2025

    Dear ****,

    Thank you for reaching out.

    You created your account on January 22nd, 2025. Per our policy, new Users are limited to 3 withdrawals in their first 30 days hence why your account was locked on February 19th, 2025. We understand the frustration this may cause and apologize for the inconvenience.
    Your account has been unlocked and you can continue using our services, withdraw funds and request new loans.

    Thank you for being part of our community.
    SoLo Community Expert

  • Initial Complaint

    Date:03/10/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On March 7th I tried to transfer my funds out of my solo fund account into my bank account. That is when I learned after using the app for almost a month my account was blocked. This made it so I couldnt transfer MY MONEY for my solo account to my checking account at all. I submitted a ticket and have not heard anything back. I have to message the customer service portal and all they say is We have already placed your issue at the top of our priority list. I apologize for the delay and want to assure you that we are taking this matter very seriously. We are working diligently to resolve it as quickly as possible and will keep you updated on any progress.Thank you for your patience and understanding.I never receive a time frame on when I will be unblocked so I can transfer my money to my checking account. I have over $1,000 tied up in this app. And now I cant pay my bills. I have 4 kids to take care of this isnt a joke or something to take lightly!!!!

    Business Response

    Date: 03/13/2025

    Dear ******,

    Thank you for reaching out.

    You created your account on February 15th, 2025. Per our policy, new Users are limited to 3 withdrawals in their first 30 days hence why your account was locked on March 8th, 2025. We understand the frustration this may cause and apologize for the inconvenience.
    Your account will be unlocked after March 17th, 2025 and you can continue using our services, withdraw funds and request new loans.

    Thank you for being part of our community.
    SoLo Community Expert

    Customer Answer

    Date: 03/14/2025

     
    Complaint: 23047317

    I am rejecting this response because:

    Nowhere in your guyss policy does it state you can only do three transfers within the first 30 days! I was able to do well over that amount of transfers and funded $1100 worth of loans (9 loans in total)! Oh, because now youre fictional rule is were only allowed to deposit an infinite amount of money, but we just cant withdraw more than 3 times makes no sense! I Message the customer service people every day for two weeks and they never stated there was a 30 day policy as well! This is clearly a made up rule and it is not listed anywhere on your website or in your policies! How are customer supposed to abide by fictional rules that are not listed anywhere?

    Also, when I created my account this last month, I find it extremely misleading that you guys had on your website that you were Better Business Bureau accredited when in fact, you had your accreditation withdrawn last year! This is extremely misleading and should be illegal because you guys werent Better Business Bureau accredited!


    Sincerely,

    ****** *******

    Business Response

    Date: 03/19/2025

    Dear ******,

    Thank you for reaching out.

    Your account has been unlocked.

    Please let us know if there is anything else we can assist you with. 

    Thank ********************** Expert

  • Initial Complaint

    Date:03/07/2025

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Deposited fund in the solo account wishing to lend it out. Since then, I have changed my mind and dont wish to participate. The company will not let me withdraw my money and close the account. Im not sure how this company is allowed to operate without a valid contract info. Email support will have you waiting for days .

    Business Response

    Date: 03/11/2025

    Dear *****,

    Thanks for reaching out.

    Our records show that you deposited $100 into your wallet on February 27th, ************************************************************ 4298 on March 5th, 2025.
    However, a chargeback was also filed for this amount with your bank which resulted in your SoLo account being banned. 

    Thank ************************* Expert

  • Initial Complaint

    Date:02/07/2025

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    1/29/25 I filed a request for a loan 1/30/2024 and paid that back in the amount of ****** My SoLO score is a ***************************************** the marketplace . I have been trying to submit a request from at least 12/12/24. I was told only experienced lenders can see my request but my request has only ever stayed in the "submitted" status and not to funded as no one can view it. I have created tickets and spoke to customer service to no avail. I would like my loan request to be seen

    Business Response

    Date: 02/25/2025

    Dear ****,

    Hope you're doing well. Thanks for reaching out.

    We can definitely understand wanting some additional information regarding the loan funding process. We are happy to help out! Once a ******** submits a loan request to the Marketplace, it will then need to be accepted to be funded by a ****** (a user on the app such as yourself). This time period of waiting for your loan to be accepted can vary in time.  However, when a loan is accepted to be funded by a ****** and both parties agree on the terms, it takes only minutes for the funds to be deposited into the Borrower's SoLo wallet.

    Here are a few points to keep in mind:
    1. Funding a loan request is up to the discretion of individual lending members. Borrowing members choose how much and when they pay, including if they want to add an optional tip to the lending member or donation to ****. Borrowing members have 100% optionality and control over the terms of their loan, and any amount paid in addition to the loan principal is voluntary. Electing not to tip or donate has no impact on a members ability to request a loan, nor does the **** platform give a member preferential treatment for including a tip or donation.

    2. You can increase your trust in the platform by paying your loans back early or on time. This will increase your SoLo Score, and will also be visible to lending members in your loan history. The higher your score, the more trust future lenders will have in you.

    3. Your loan will be active in the Marketplace for up to 3 days. At that time, if it remains unfunded, your loan request will be automatically canceled. Upon cancellation, you can immediately create a new request.

    We hope this information is helpful. Please let us know if you have any additional questions.

    Thank you,
    SoLo Community Expert

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