Peer-to-peer (P2P) financing is disrupting the industry that is financial online platforms that offer people and businesses with an increase of revolutionary lending and borrowing options.
Choices like SoLo, a mobile peer-to-peer financing exchange providing you with affordable usage of low-value funds. We talked with CEO/Co-founder, Travis Holoway for more information in regards to the ongoing business as well as its plans.
SoLo CEO, Travis Holoway
just exactly What inspired you to produce SoLo?
Travis: We began this ongoing business because when we looked around our community we had been disgusted by the possible lack of money open to those that seem like us. The objective of SoLo is always to fight everything we feel are a couple of regarding the biggest issues presently plaguing minority communities; affordable usage of money and literacy that is financial.
Each and every day more individuals in inner urban centers are increasingly being lured into debt traps from payday and title lending organizations. They will ever make since we don’t teach financial literacy in schools, people are learning their financial lessons by making mistakes which are some of the most expensive mistakes.
Moreover, our many noble but susceptible residents like single moms, instructors, and active duty military are increasingly being taken advantage of the absolute most. It’s promising to observe that understanding is increasing regarding the predatory payday-lending industry, but there is no solution that is real now. We intimately understand why issue because we’ve resided it, therefore it’s our belief that people are uniquely qualified and placed to fix it.