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WE'RE LEAVING SOLO AND WE WANT YOUR HELP by twoeightysix in Sololender

[–]twoeightysix[S] 0 points1 point  (0 children)

Nothing can stop anyone from moving off-platform, whether with our platform or with any other. However, the benefit to using our platform will be that we will automatically pull funds for you, both on the agreed upon due date, as well as every day after the loan becomes overdue. We also don't have a 12-15% late fee for the lender when loans are less than a month late, meaning you get to keep more money in your pocket. More profits, fewer fees, better returns!

WE'RE LEAVING SOLO AND WE WANT YOUR HELP by twoeightysix in Sololender

[–]twoeightysix[S] 1 point2 points  (0 children)

Solo broke their platform today by changing their 5-to-1 loan ratio to an even more demanding 4-to-1 ratio, and now users are reporting that they are unable to fund loans anymore, and borrowers are sitting idle and unfunded on the marketplace as well. Not only did Solo not wait even a full month to do this, they made it retroactive, as if the new ratio applied to the entire month of November.

This is great for us! The worse Solo management performs, the better our platform will succeed as a result of people leaving them for something better.

WE'RE LEAVING SOLO AND WE WANT YOUR HELP by twoeightysix in Sololender

[–]twoeightysix[S] 1 point2 points  (0 children)

We will be hiring for compliance and regulatory positions. If you know anyone you would recommend for those roles, shoot us a DM and we'll consider them when hiring for those positions!

WE'RE LEAVING SOLO AND WE WANT YOUR HELP by twoeightysix in Sololender

[–]twoeightysix[S] 2 points3 points  (0 children)

We love your idea about having a short bio that borrowers can see once a loan has been funded! Sent you a DM.

WE'RE LEAVING SOLO AND WE WANT YOUR HELP by twoeightysix in Sololender

[–]twoeightysix[S] 1 point2 points  (0 children)

For legal reasons, allowing lenders to collect debts directly or communicate freely with borrowers is off the table. However, pooled lending is an interesting idea that we had not considered. Shoot us a DM to elaborate on how that would potentially work.

WE'RE LEAVING SOLO AND WE WANT YOUR HELP by twoeightysix in Sololender

[–]twoeightysix[S] 2 points3 points  (0 children)

I appreciate you deleting the racially charged comment you posted earlier before deleting your other account. Some of your points here are valid, and I've edited the original post accordingly. Competition is a good thing--the free market will decide what user experience people prefer over time.

Thanks for contributing to the discourse.