Financing for gig workers*

Scale up your business and take on new opportunities with a merchant cash advance.

Trusted by:

Approval

as fast as 2 hours

Funding

as fast as 4 hours

$3+

billion in financing

55,000+

small businesses financed

Put your funds to work

With a merchant cash advance, you can get:

Business financing from $5,000 to $600,000
Terms from 3-24 months
Factor rates as low as 1.11
Automatic daily or weekly remittances

What you need to qualify

Here’s what you need to qualify:

You must be operating in the United States.
6+ months time in business
$15,000+ in monthly revenue**
To deposit revenue in a business bank account
A credit score of 500+

The benefits of a merchant cash advance for gig workers

The gig economy has grown 17%, and that means a higher need for more flexible financing options.

Merchant cash advances are a great choice if you’re looking for:

Flexible remittances

With an MCA, your remittances are based on your revenue.

Keep control of your business

You typically don’t need to put your equipment, tools, and business assets up as collateral.

Quick access to funds

With approvals in as little as 4 hours, you get the capital you need fast.

We are trusted by:

Get started with 4 easy steps

Learn more about your options without impacting your credit score.

Apply online

Click “Get Started” to explore your options without impacting your credit score.

Prepare your documents

Gather recent bank statements and a government-issued ID.

Approval in as little as 4 hours

Submit your application and get approved as soon as 4 hours.

Receive same-day funding

Once approved, your funds can be deposited directly into your business bank account as soon as the same business day.

Pros and cons of a merchant cash advance for gig workers

Pros

Use the capital where it’s needed most, from covering expenses to seizing new opportunities.
Remittances can adjust based on your monthly revenue.
Funds can reach your account as soon as the same business day, making it perfect for urgent expenses.
An MCA is accessible even if your credit history is less than perfect.

Cons

Rates can be higher than traditional financing due to the flexible qualification process.
MCAs are best for immediate needs, not large-scale, long-term investments.
Remittance amounts can change based on your sales, which could make it difficult to predict.

Why gig workers should choose Credibly for financing

You’re one of the independent contractors that make up 36% of the U.S. economy. But it can feel lonely running your own operations. Choosing Credibly means gaining a partner committed to your success.

Here’s what sets us apart.

Trusted experience

With over 46,000 small businesses served and a 4.8 Trustpilot rating, we’re a recognized leader in business financing for gig workers.

Dedicated support

Our 100% U.S.-based financing experts are here to guide you from application through to final remittance.

Pros and cons of a merchant cash advance for gig workers

Pros

Use the capital where it’s needed most, from covering expenses to seizing new opportunities.
Remittances can adjust based on your monthly revenue.
Funds can reach your account as soon as the same business day, making it perfect for urgent expenses.
An MCA is accessible even if your credit history is less than perfect.

Cons

Rates can be higher than traditional financing due to the flexible qualification process.
MCAs are best for immediate needs, not large-scale, long-term investments.
Remittance amounts can change based on your sales, which could make it difficult to predict.

Other financing options***

Line of credit

Draw as you need and only pay for what you use.

Working capital loan

Always have enough cash flow to seize any opportunity.

Long-term loan

Longer-term funding to help you reach the next stages of growth.

All financing options

Still looking for the right fit? Check out all of Credibly’s business financing options.

Frequently asked questions about merchant cash advances for the self-employed

For gig workers, is a merchant cash advance a loan?

A merchant cash advance (MCA) isn’t a loan. Instead, it provides upfront capital by purchasing a percentage of your future receivables.

Credibly gives you immediate access to the funds you need, and in return, we collect a specified percentage of your daily sales until the agreed amount is fully remitted.

The flexible structure helps many gig workers access funds quickly without the traditional loan structure.

Does a merchant cash advance impact your credit score?

If you’re looking for a merchant cash advance for gig workers with no credit check because you’re worried about the impact on your credit, you should be aware that most financing providers only do a soft pull, which does not directly impact your credit score.

How much does a merchant cash advance cost?

The cost of a merchant cash advance is stated as a factor rate rather than traditional interest.

This rate depends on the assessed risk of your business. Unlike other types of business financing, MCAs don’t require additional collateral, which makes them accessible to businesses that may not have substantial assets.

Does your credit score matter for a merchant cash advance?

If you’re looking at loans for gig workers with bad credit, a merchant cash advance might be one solution. While not a true loan, it provides you capital up front to take care of immediate needs.

Credibly, for example, generally requires a minimum credit score of 500, making MCAs accessible to gig workers who may not qualify for traditional financing.

Your score is a factor but not the sole determining criterion. Other aspects, like your monthly revenue and sales volume, also play a role in approval.

How do you apply for a merchant cash advance?

Applying for a merchant cash advance is quick and straightforward.

Start by submitting some essential documents, including:

Bank statements
Your business’s tax ID
Government-issued ID

To discover how much you qualify for, fill out our online form.

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Fluctuating revenue? We’ve got your back.

Don’t be overburdened for financial opportunities. Remittances flex to match your monthly revenue.

* Financing terms are based on a good-faith estimate and assume consistent monthly revenue. Actual time to satisfy the MCA may vary.
**$15K+ avg. deposits for a three-month average and the most recent month.
***Some products are made available through Credibly’s network of external funding partners