SoLo Funds
California, United States
November 2021
Mobile applications
Service with Minor Environmental Footprint
United States
SoLo Funds is the premier AI-powered community banking solution providing unparalleled returns and access to capital for millions of Americans, fueled by its AI risk model enabling marketplace loans, pioneering cooperative yield-producing accounts, and community empowering banking services. Built for real people by real people, SoLo enables everyday individuals to borrow personal loans at more affordable rates and earn industry-leading returns — decentralized and free from the systemic inefficiencies of traditional banking. Our platform is powered by a community of members rooted in trust, transparency, and a shared commitment to financial well-being. Founded in 2018 by Travis Holoway and Rodney Williams, SoLo pioneered a new model of financial services — equitable, empowering, and people-led. Since then, we’ve facilitated over $1 billion in transactions, with groundbreaking innovations in lending, banking, and WealthTech. As we lead the next era of AI-powered financial services, our mission remains clear: to build a financial system grounded in community, autonomy, efficiency, and access for all.
Overall B Impact Score
Governance 21.6
Governance evaluates a company's overall mission, engagement around its social/environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.
What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.
Workers 33.9
Workers evaluates a company’s contributions to its employees’ financial security, health & safety, wellness, career development, and engagement & satisfaction. In addition, this section recognizes business models designed to benefit workers, such as companies that are at least 40% owned by non-executive employees and those that have workforce development programs to support individuals with barriers to employment.
Community 20.6
Community evaluates a company’s engagement with and impact on the communities in which it operates, hires from, and sources from. Topics include diversity, equity & inclusion, economic impact, civic engagement, charitable giving, and supply chain management. In addition, this section recognizes business models that are designed to address specific community-oriented problems, such as poverty alleviation through fair trade sourcing or distribution via microenterprises, producer cooperative models, locally focused economic development, and formal charitable giving commitments.
Environment 7.8
Environment evaluates a company’s overall environmental management practices as well as its impact on the air, climate, water, land, and biodiversity. This includes the direct impact of a company’s operations and, when applicable its supply chain and distribution channels. This section also recognizes companies with environmentally innovative production processes and those that sell products or services that have a positive environmental impact. Some examples might include products and services that create renewable energy, reduce consumption or waste, conserve land or wildlife, provide less toxic alternatives to the market, or educate people about environmental problems.
Customers 55.2
Customers evaluates a company’s stewardship of its customers through the quality of its products and services, ethical marketing, data privacy and security, and feedback channels. In addition, this section recognizes products or services that are designed to address a particular social problem for or through its customers, such as health or educational products, arts & media products, serving underserved customers/clients, and services that improve the social impact of other businesses or organizations.
What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.