SoLo Funds, a capital marketplace for emergency loans, has recently announced the launch of SoLo Causes. SoLo will call on its community of over 300,000 members to select a nonprofit to support, allowing a percentage of the SoLo donation from each loan to go to those in need. Habitat for Humanity International is one of SoLo Causes’ first partners.
With the launch of SoLo Causes, the company is differentiating itself from traditional financial platforms as users have a say in how SoLo’s revenues impact communities. With SoLo Causes, SoLo is committing dollars to organizations that are making meaningful change in underserved communities.
“Doing good, being purpose-driven and supporting our members are vital portions of our DNA,” said Rodney Williams, co-founder and CEO of SoLo Funds. “As we set an example for innovative financial service models, we are excited to announce this initiative to support organizations like Habitat for Humanity that support our communities.”
Habitat for Humanity has helped over 39 million people since its inception in 1976. The partnership with SoLo Causes will support Habitat’s efforts to help even more people gain access to affordable homes. This effort is part of SoLo’s commitment to redistribute 100% of its members’ voluntary SoLo donation revenue to nonprofits by 2023.