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Sòl-DA is a cellphone app created for people “pooling” among themselves as a group of employees of the same company or different institutions where everyone gets a lump sum as a loan and repay over a pre-defined schedule, by-passing an interest-charging bank and therefore becoming essentially an interest-free loan. It is a free download app for android and IOS system.
The purpose of developing this app is to provide tools and information to the Sòl community and empower people who would not otherwise get access to institutional credit. This app will allow those doing this type of financial activity (known within the Haitian community as Sòl) to use cell phone technology to get information in real time and transfer money between the parties involved in the Sòl activity.
The Sòl-DA application will have the mission of regularizing and promoting this informal financial activity.
1- It will aim to bring together and unite a community involved for decades in this type of monetary transactions.
2- It will offer another financial opportunity for people to realize their dreams.
3- It will also make it possible to better transmit this financial activity to the next generations and other communities.
4- It will aim to perpetuate this financial activity for many decades to come.
• After loading the app, users can create a group and become the administrator of this group and at the same time they can be also a member of the group.
• After the group is created the users can transfer money to other members of the group according to the Sòl regulations.
• Each member inside the group will receive their money by following a calendar fixed by the group administrator.
• Each period, the participant who is currently receiving the lump sum payment will pay a fee which is a percentage of the total amount received for the service provided by the app.
Any one can be a group member.
You pay your contribution according to a predefined calendar set by the group administrator.
Each period, the participant who is currently receiving the lump sum payment will pay a fee which is a percentage of the total amount received for the service provided by the app.
Any trust person can be an administrator (family member, co-worker, friends, etc...)
Member can leave a group only at the end of the Sòl.
The group administrator can do a new Sòl with existing members or add new members.
The group administrator has the responsibility to contact default member, and use is influenced to allow member to receive their money.
No, Sòl-DA app is built only for Sòl regulations and policies.