Apps Like Solo Funds [2024] Borrow Money Fast
By Maddy Scheckel American households owe a combined $16.9 trillion in debt. So if you need to borrow money, you’ll be in good company!
Of course, going into debt isn’t a good idea. But let’s be real: When you’re drowning in financial stress, emergency funds can help you stay afloat.
You might have heard of an online lending platform called SoLo Funds. It’s a solid way to secure a loan, but it’s far from the only option.
Below, I’ll describe some of the best apps like SoLo Funds. That way, you’ll have more options next time you’re in a pinch.
In need of some extra cash to get you through a tough spot? We’ve all been there, and sometimes all you need is just a few extra hundred dollars to hold you over until your next paycheck.
When the going gets tough and money is tight, the app Dave is always there to help. Dave offers quick relief with cash advances up to $500 without all the complexities of a traditional bank loan. There are no credit checks, interest charges, or late fees, and it offers fast deposits — I’m talking in as little as a few minutes.
Whether you need help covering bills, money for groceries, or better earning opportunities, Dave’s got you covered.
Apps Like Solo Funds
There are lots of apps like SoLo Funds that can help you borrow money. They’re not community-based, so you won’t be borrowing funds from other users (like you do with SoLo Funds). But they can help you get cash quickly!
The apps on this list offer funds in a few different ways:
- Loans
- Cash advances
- Fee-free overdrafts with a debit card
You might prefer one approach over another – but all of them will help you get money. And that’s what matters most!
So, here are the best apps like SoLo Funds.
Dave
How Quickly You Can Borrow Money: 5 minutes
Dave is a banking app that makes it easy to borrow money. It also gets super high ratings from users. How high? The Dave app has 4.8 stars on the Apple App Store and 4.3 stars on Google Play.
While there are lots of apps like SoLo Funds, Dave is especially similar. Just like with SoLo Funds, Dave offers both borrowing and app-based banking.
When you sign up for Dave, you’ll get access to four different products:
- Spending Account. This is like a checking account, giving you a debit card that you can use at the ATM.
- Side Hustle. This feature gives you work opportunities, from paid surveys to part-time jobs.
- Goals Account. This is basically a savings account, and it even pays interest (4.00% APY for now, but it’s subject to change).
- Extra Cash. Use this to borrow money. You could qualify for up to $500 in the form of a cash advance.
While there’s a small fee for an instant cash advance, there’s no interest or late fees to worry about. That takes a lot of the stress out of borrowing!
Cleo
How Quickly You Can Borrow Money: Same day (with a fee), or 3-4 days (free)
Cleo is an AI-powered banking app that also plays the role of a virtual financial assistant. It will even talk to you like a real friend!
One of the best things about Cleo is that it can “spot” you up to $250. This is the feature that makes it one of the best apps like SoLo Funds.
Here’s the 4-step process for borrowing money from Cleo:
- Connect the Cleo app to your bank account (after downloading it for free).
- In the Cleo App chat, type “Cash Advance.”
- Confirm your personal details.
- Get your money! You can receive instant funds for a small fee. Otherwise, it will take 3-4 days.
What I love about Cleo is how easy the whole process is. You just type messages to a bot (like texting)! That’s a lot simpler than searching through complicated menus for the features you need.
Cleo also offers more than just cash advances. You can use it to build a budget, boost your credit, and put your savings on autopilot.
It’s no wonder that Cleo gets 4.7 stars from Apple users!
Source: Cleo
Chime
How Quickly You Can Borrow Money: Immediately (by using your debit card for an overdraft)
Chime is one of the most popular banking apps around today. Thanks to its “SpotMe” feature, it’s also one of the best apps like SoLo Funds for borrowing money.
Chime offers three different account types:
- Checking (with a free debit card)
- Credit builder
- Savings (which earns interest – 2.00% APY at the time of this publication)
The “SpotMe” feature lets you overdraw from your Chime checking account by up to $200. That means you can make purchases or take out money from the ATM even when your account is empty, and you won’t be charged a fee!
To qualify for SpotMe, you need to set up direct deposits – meaning you’ll receive paychecks or regular government assistance straight to your Chime account.
Current
How Quickly You Can Borrow Money: Immediately (by using your debit card for an overdraft)
Current is a user-friendly digital banking app. How user-friendly? It has 4.7 stars on the Apple App Store and 4.6 stars on Google Play!
When you create a Current account, you’ll gain access to some incredible perks, including:
- A special credit-builder card
- Fee-free withdrawals from over 40,000 Allpoint ATMs
- “Savings Pods” where your money earns interest (up to 4.00% APY at the time of this publication)
- Simplified crypto investing
It’s easy to see why Current is one of the most flexible apps like SoLo Funds!
Of course, you might be asking, “How is Current like SoLo Funds, anyway?”
Here’s how: You can use Current to borrow money.
No, you won’t take out a typical loan or ask for a cash advance. Instead, you get fee-free overdrafts. That means you can use your Current debit card even when you don’t have enough money in your account.
But be careful – not all Current users have access to fee-free overdrafts. Current will send you a notification if you qualify. Eligibility depends on several factors, including your direct deposit history and account activity.
Once you’re eligible, you’ll be able to overdraw your account by $25. That limit could eventually rise to $200.
Albert
How Quickly You Can Borrow Money: Immediately
Albert is another mobile banking app that offers fee-free overdrafts. That means you can use it for your everyday banking needs and get extra cash when it’s necessary.
While you can download the Albert app for free, you’ll need a paid “Genius” subscription to access most of the best features – including the fee-free overdrafts.
When you first sign up for Albert, you’ll get a 30-day free trial to Genius. Once the trial is over, you’ll have to pay $14.99 per month (or $12.49 per month if you choose to be billed yearly).
I know paying for a banking app might sound crazy, but here’s the thing: Albert Genius comes with a lot of incredible features!
Here are some of the perks of Albert Genius:
- Paychecks up to 2 days early
- Credit score monitoring
- Budgeting assistance
- Investing help
- The chance to chat with financial assistants
- Fee-free overdraft with “Albert Instant”
Unfortunately, not all Genius subscribers are eligible for fee-free overdrafts. But if you qualify, you can overdraw your account by $25 – $200, depending on your overdraft allowance.
According to Albert, the average approved user has an overdraft allowance of $80. That might not seem like a lot, but it would sure help when money gets tight.
Source: Albert
Cash App
How Quickly You Can Borrow Money: Within minutes
You might know Cash App as a Venmo-like payment service. But believe it or not, Cash App also lets certain users borrow money. That’s what makes it one of the best apps like SoLo Funds for accessing emergency cash.
No, Cash App doesn’t have a community lending platform like SoLo Funds. But it does have a “Cash App Borrow” feature, which allows you to borrow money within the app.
The bad news is that Cash App Borrow isn’t available in every state or for all Cash App users. You have to qualify, and the eligibility requirements aren’t entirely clear on the official Cash App website. You’re more likely to qualify if you have good credit and use Cash App regularly.
So, if you’re not currently a Cash App user, you probably won’t qualify for a loan right away. But there are plenty of other reasons to use Cash App, from the easy payments to the convenient banking features. You can also go through Cash App to invest in the stock market!
As you use Cash App for other things, you can check to see if you’re eligible for a loan.
Here’s how to see if you qualify for Cash App Borrow in three steps:
- Open Cash App.
- Navigate to the “Banking” screen.
- Look for the “Borrow” option.
If “Borrow” isn’t there, you still don’t qualify. But if it is there, you can tap it and then decide how much you’d like to borrow!
MoneyLion
How Quickly You Can Borrow Money: Within minutes
MoneyLion isn’t just a banking platform or an app for borrowing money. It’s designed to be an all-in-one personal finance app, giving you guidance along with all the bank-like features you need.
It’s pretty incredible just how many products and features MoneyLion offers.
You can use the app for:
- Investing in crypto
- Building credit
- Earning cash back
- Automated savings
- Early paychecks
- General mobile banking
So, why is MoneyLion considered one of the best apps like SoLo Funds? Because of its “Instacash” feature!
Instacash is just what it sounds like – a way to get cash instantly.
Here’s how to get an Instacash advance from MoneyLion in five simple steps:
- Download the MoneyLion app.
- Tap “Instacash.”
- Tap “Request.”
- Select from the available amounts.
- Choose between the standard 5-day delivery or getting an instant delivery for a fee.
At first, you’ll only qualify for a smaller advance of $10 or up. But if you set up direct deposits to an external bank account that you’ve linked to MoneyLion, you could end up being eligible for advances up to $1,000.
Yes, I said $1,000! That’s the type of advance that could really get you out of a jam.
Commonly Asked Questions About Apps Like Solo Funds
Apps Like Solo Funds for Android?
Here are the best apps like SoLo Funds for Android users:
Alternatives to Solo Funds?
These apps all work like SoLo Funds, giving you access to emergency cash:
Be sure to check out this article on the best borrow money app. Or, if you rather not borrow money, read this article on how you can get free money now.
What is Similar to SoLo Funds?
Dave is a personal finance app that you can use to borrow money, just like SoLo Funds. You can download the Dave app for free, then use the “Extra Cash” feature to receive up to $500 as a cash advance.
What App Will Give Me $100 Instantly?
The Cleo App gives some users $100 instantly. Just download the Cleo app, then type “Cash Advance” into the chat. You could be offered a cash advance of up to $250!
What is the App That Gives You $500?
Of all the borrowing apps like SoLo Funds, Dave is one of the most generous. You can use it to get a cash advance of up to $500. Just be aware of the fact that not all users qualify for such a large cash advance. You should also look into banks that pay 2 days early.
What Happens if You Don’t Pay SoLo Funds?
If you don’t repay a SoLo Funds loan, you’ll be charged a 10% late fee. And eventually, they’ll have a third-party collection agency try to recover the money.
Apps Like Solo Funds Reddit?
I found a Reddit thread where someone shared ways to get money with bad credit. Some of the best ideas were apps like SoLo Funds.
Source: Reddit
Someone else suggested Cash App and Chime.
Source: Reddit
And a few users complained that none of the suggested apps worked for them. I guess this serves as a reminder that even user-friendly apps will sometimes deny a request for emergency funds.
