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8 best apps like SoLo Funds: small loans & cash advances

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What do you do when you need cash fast, but going to a bank or family member isn’t always an option? Multiple costly emergencies at once or a break in employment could lead to this predicament. SoLo Funds has been a popular option for small peer-to-peer loans — although it has had some issues, including some recent legal woes.

SoLo Funds matches borrowers with individual lenders to fulfill their loan requests. Borrowers can get requests funded in under 20 minutes with Solo Funds, but there have been some negative customer reviews and issues with its tipping process.

If you want an alternative to payday lenders and credit card debt but are wary of SoLo Funds, try one of the many other money-loaning apps. Some of them offer overdraft protection, banking services, and other benefits as well. Take a look at our roundup of the best apps like SoLo Funds.

The best SoLo Funds alternatives right now

Our selection of SoLo Funds alternatives includes other loan providers and cash advance apps that award funds quickly. These loans are conveniently available at low- to no-interest rates. Plus, they keep you from running to payday lenders (who are expensive and inadvisable).

Possible Finance

Why we chose Possible: Possible Finance offers almost identical loan products as SoLo Funds. The Possible Loan can help borrowers avoid paying the astronomical interest rates on these quick-cash payday loans.

With Possible Loan you can instantly borrow up to $500 without fees or interest. You then pay it back over four installments.

The platform is planning to launch a cash advance program that also unlocks a low-limit credit card over time, but for now, it’s focused on small loans.

Compared to payday lenders and high-interest credit card companies, Possible Finance offers a much safer alternative. Borrowing money to get out of a tricky situation can devastate the underbanked. Getting a small personal loan with Possible can prevent borrowers from racking up endless debt.

The Better Business Bureau gives Possible Finance 4.5 stars, and Google Play Store reviews average 4.3 out of 5 (from over 46,000 reviews).

Cost: Fees vary by state, but they're usually around $10-$15 per $100 borrowed



  • Small loans are available instantly

  • No interest or fees

  • Can help borrowers build and improve credit scores

  • Good customer rankings

  • Installment payment plan instead of automatic bank account withdrawal



  • Fees are relatively high

  • Not accepting new applicants from Delaware, Indiana, Kansas, Kentucky, Mississippi, Missouri, Ohio, Oklahoma, Rhode Island, South Carolina, Tennessee, and Utah.


Why we chose Zirtue: As with SoLo Funds, Zirtue customers can choose custom loan amounts, connect directly to a lending member, and agree on repayment terms.

Zirtue recognizes the importance of helping reach the un- and under-banked, like SoLo Funds. However, instead of putting out a loan request as you would on SoLo Funds, on Zirtue, you need to request funds directly from someone you know.

You send the request to your contact to borrow money, offering personal details to explain why you need the funds. They can pay your loan digitally, and you repay either in one sum or across monthly installments.

Cost: It's free to use; interest terms are agreed on with the lender



  • No credit check

  • Set your loan amount and repayment terms

  • Free bank account

  • Direct bill pay option sends funds straight to the provider

  • Monthly payment reminders



  • Must request from friends or family


Why we chose Prosper: Prosper was the first peer-to-peer lender in the U.S. The platform offers unsecured personal loans of $2,000 up to $50,000. (SoLo Funds currently maxes out loans at $575.)

This company has been in operation since 2005. It makes funds available to borrowers as quickly as one business day and doesn’t charge any penalties for prepayment.

On the Prosper platform, members share basic income and expense information to help determine what their loan rate will be. You’d then select a loan length, often between two and five years.

Prosper offers credit card consolidation loans, which can be helpful for borrowers with high-interest debt. It also has a home improvement-specific loan. If you want to strengthen your loan application, you can consider applying jointly with a family member or friend who has solid credit.

Cost: origination fee and possible late or NSF fees



  • Checking your rate doesn’t impact your credit score

  • Good for borrowers needing a larger loan amount

  • Fixed-rate, fixed-term loans

  • No prepayment penalties

  • Joint loans allowed



  • Pay origination fees and check payment fees

  • Charges late fees and insufficient funds fees


Why we chose Lending Club: Lending Club, like SoLo Funds, offers fast personal loans without collateral. You can apply for a loan of up to $40,000, usually with a fixed term at a fixed rate. The company says over a third of its loans are funded within 24 hours of approval.

You have a 15-day grace period for repayment, and then late fees are charged.

You can also access Lending Club banking services — checking, high-yield savings, CDs, and more.

Cost: origination fees between 3% and 6%, plus interest charges



  • Only a soft credit check is required to check rates

  • Loan repayment could improve your credit

  • Joint loans are available

  • No prepayment fees



  • Hard credit check occurs if you proceed with a loan

  • APR between 8.30% and 36%

  • Late fees and origination fees apply


Why we chose LenMe: Another Fintech platform that believes that traditional lending and borrowing are failing people, LenMe, gives access to between $50 and $5,000 in loans. LenMe works much like SoLo Funds in that borrowers can connect to lenders who want to invest in them.

LenMe is simple to use — it says it takes only “three clicks” for either the borrower or the investor (lender) to start. Investors can see borrowers’ info such as credit score, bank data, and a LenMe score before deciding.

Loan repayment is anywhere from one month to 12 months (borrowers decide), and funds are usually available in one to two business days.

Cost: free app, but $1.99 monthly subscription to access loans



  • Low credit score doesn’t disqualify borrowers

  • Lenders can compete to offer the best interest rate

  • Automatic payback from your bank account



  • Must provide Social Security Number


Why we chose Brigit: Brigit provides loans of up to $250 with no credit check and no interest charged. It points out that there are no “tips,” unlike SoLo Funds. While Brigit offers free financial advice and alerts, you’ll have to fork over $9.99 a month to access the quick cash feature. Brigit can also assist you in improving a bad credit score.

Brigit’s other features include automatic overdraft protection, $1 million in identity theft protection, and guidance to help you increase your income and improve your financial picture. Those are sweet benefits that could help users avoid digging into a high-interest debt cycle.

Cost: $9.99 monthly



  • No credit check

  • No interest charges

  • Overdraft protection

  • Identity theft protection

  • Helps you earn and save more



  • $9.99 fee per month to access quick loans


Why we chose Chime®: While Chime doesn't technically provide loans, it's a good option for those who want an all-in-one mobile banking platform — with the included benefit of overdraft protection.

By opening up an account with Chime, you unlock access to a debit card and the company’s Chime SpotMe® program for up to $200 in overdraft protection5. That means Chime doesn’t charge fees for taking your account balance below zero for eligible Chime members, up to -$200.

Cost: free with an eligible account



  • Tipping is optional

  • Chime offers other products: Checking, Savings, and Credit Builder



  • Must receive $200 or more in qualifying direct deposits over the preceding 34 days to be eligible

  • $200 minimum monthly direct deposit requirement

  • SpotMe protection only available on debit purchases and cash withdrawals

  • Limit of $200 in overdraft protection

Chime Disclosures – *Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

5 Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member's Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime's discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won't cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

Read more: The best online banks like Chime


Why we chose Hundy: Like SoLo Funds, Hundy presents itself as a platform connecting borrowers with investors seeking to lend a hand. It doesn’t give out loans per se but offers cash advances between $25 and $250 in a crowdsourced manner.

According to Hundy’s website, creating an account and requesting funds takes about five minutes. Then, within about a business day, borrowers will have the needed funds.

The purpose behind Hundy is similar to that of SoLo Funds, with Hundy’s emphasis on building a community of borrowers and lenders. The company says it “empowers its members to benefit from their good character.”

Cost: free app, but voluntary tips



  • No credit check

  • Log in with Facebook or Apple ID

  • No prepayment penalty

  • Tipping is not required

  • Hundy doesn’t report delinquencies to credit bureaus



  • Only on the iOS app

  • Must use Facebook or Apple to sign up

  • Must link a bank account

  • Voluntary tipping could make it costly, and it defaults to a weekly donation


To create our list of the best apps like SoLo Funds, we reviewed over a dozen different cash advance apps and FinTech companies that offer cash advances. Factors like cash advance limits, fees, ease-of-use, and additional features influenced the companies that we included.

The companies on this list didn't influence their inclusion or position; our author's research and views are what determined the SoLo Funds alternatives for this article. We believe these are the current best apps like SoLo Funds you can use, but there are also plenty of other similar apps out there that didn't make our list. Always do your own research and due diligence when choosing financial apps and services to use.

The bottom line: Which app should I choose?

Possible Finance, Zirtue,Prosper, Lending Club, LenMe, Brigit, Chime, and Hundy are all viable options for those in need of quick cash with little to no interest or fees.

Each app has its own unique set of features, so it's important to choose the one that best suits your needs. Overall, these apps provide a convenient way to get quick cash without having to worry about sky-high interest rates.

Ultimately, our best long-term advice is to work towards building up an emergency fund so that you can avoid taking out small loans when unexpected expenses pop up. However, if you're in need of cash right now, and you're not quite sure if you want to go with SoLo Funds, investigate the options above to see if one might work for you.

Handle your finances from your smartphone:

About our author

Kate Underwood
Kate Underwood, Freelance Contributor

Kate Underwood left a career teaching high school French to create financial content on budgeting, retirement, passive income, and much more. Her work can also be found at Business Insider, Money Crashers, and Clever Girl Finance. She hopes to one day spend a year RVing around the country with her family.


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