Page 5 - Travis Holoway News Today : Breaking News, Live Updates & Top Stories | Vimarsana

LA-based SoLo Funds raises $10 million to offer an alternative to predatory payday lenders SoLo Funds wants to replace payday lenders with a community-based, market-driven model for individual lending, and now has $10 million to expand its business in the U.S. Payday lenders offer high-interest, short-term loans to borrowers who are at their most vulnerable, and the terms of their loans often trap borrowers in a cycle of debt from which there’s no escape. Around 80% of Americans don’t have adequate savings to cover unforeseen expenses, and it’s that statistic that has made payday lendin...

socaltech.com Los Angeles-based SoLo Funds, a startup which operates an online crowd-lending marketplace, letting users lend and borrow funds from each other, has raised $10M in a Series A round. The funding was led by ACME Capital, and also included Impact America Fund, Techstars, Endeavor Catalyst, CEAS Investments and others. The company says it has now raised a total of $12M in funding. The company was co-foudned by Rodney Williams and Travis Holoway. The company says it lets users with exceeds funds to supply short-term funds for immediate needs to other users. The company's service rev...