California, United States
Service with Minor Environmental Footprint
SoLo is one of the leading financial technology companies for underserved communities. Originally, SoLo launched as an on-demand marketplace where members can request and fund loans for emergency needs. To date, they’ve processed millions of transactions, providing a lending alternative that is equitable, empowering, and community-driven. Solo is now building a community-driven financial technology company to further serve the needs of the underrepresented. For more info: www.solofunds.com Founded by African American founders, Rodney Williams and Travis Holloway leveraged their personal experiences to build a community based financial solution reimagining how financial service could best serve their communities. Like many Americans, Travis and Rodney were no strangers to having their electricity being turned off in the winter two days before payday. Knowing how far just a few dollars can go, SoLo was built to address a core need while establishing a pathway to financial autonomy. SoLo is the only Black-owned financial services Certified B Corp in US & Canada. With only 4,111 companies certified by B Lab, and only 13 Black-owned companies in the US & Canada, SoLo Funds joins a small group of businesses committed to ushering in innovations for a better world.
Overall B Impact Score
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.
Previous Overall B Impact Scores
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