Founder’s Letter

Hey, welcome to our site. We are pretty young and still growing. If you are still confused about what we do, hope this letter can explain it better than our colorful home page.

For the past ten years, I have constantly found myself in the situation where I had to lend money to friends. I would always  hesitate but then always still end up agreeing to help. I knew how difficult it was for people to ask in the first place but, more importantly, it’s honestly hard to turn down a friend. As you could guess, most of those experiences turned out to be quite unpleasant. Delays and failures to payback seemed to be more often than I would like to believe, which had negative impacts on the relationships and sometimes even made me lose faith in humanity.

I tried to seek help, but there wasn’t much out there. Taking a friend to court is simply not a (preferred) solution.

This doesn’t just happen to me. It happens to so many people.

I want to change that and that’s why I created SoKay in the first place. At the very least, with some of the information and documents provided on SoKay, such exchanges could be more formally acknowledged and established, which I hope can add some extra sense of responsibility. Then we have some mechanisms to help enforce and facilitate repayment plans, in a friendly and intuitive way. The Red Register, a place to report irresponsible borrowers, is a little extreme and requires high scrutiny. We are aware of that. We call it semi-crowdsourced, because we are quite serious about due diligence and compliance. We carefully check the information and strictly follow the rules. Right, there are a bunch of laws regarding this. The Register is designed to balance the power between borrowers and lenders as well as prevent problematic debtors from borrowing more from other people. If you have privacy concerns, please check our policies on the privacy page or simply contact us to know more. For the time being, we are keeping it offline for cyber security reasons. Please check its designated page for details.

Next year, we hope to roll out the more advanced FinTech solution that takes away the risk from the lenders fundamentally. It’s exciting and challenging. Twenty years into the 21st century, it’s time to solve this serious and tricky social problem.

SoKay is a consulting service free to use. We are not lawyers or fee collectors, but we can direct you to some good professionals if you need help. They are listed in the Third Party Help section. Some are our third-party partners and they will be marked so.

Again, thank you for visiting us. Hope we can help you a little! If you have any questions or comments, we are here for you.

Yours truly,


Founder, SoKay

*Updated 11/10/2019: We added our last product, SoKay Kare (SoKare as we call it internally), which means that now we can do more than just being a passive information provider. We are like case workers now to assist you in your FnF loan struggles and, as you can see, having us a neutral party as the facilitator, things will get a lot easier.