The Best Cash Advance Apps for Uber and Lyft Drivers (2023)

Having quick and easy access to cash is a big deal for rideshare workers and others, but traditional cash advance options don't give us much. As technology and the economy continue to evolve, so do cash advance companies. RSG Contributor Chonce Maddox-Rhea discusses the pros and cons of the best cash advance apps for temporary workers.

There aren't many jobs that give you instant access to money, but it's one of the things people love about the gig economy. However, sometimes you find yourself stuck in a dilemma and you need money fast. Maybe your car needs an unexpected repair or you have medical expenses that you need extra money to cover. At times like these, you may want the option of getting a cash advance.

Traditional payday loans and similar cash advances can have a high interest rate. Also, the unexpected nature of your income may make it difficult for you to qualify for these loans. Fortunately, there are plenty of freelance cash advance apps that directly cater to drivers like Uber, Instacart shoppers, and more.

The underlying technology used by many of these companies isArgyle, allowing them to sync their gig accounts, view their earnings history, and more. This gives cash advance companies the confidence to lend you money. So I hope to see many more offers like this in the future.

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Best Cash Advance Apps for Temporary Workers

1. skinny

Lean offers temporary workers a cash advance of up to $1,000, but you can only request it through the platforms they work with. Lean announced aAhorros con Rapidusso far and there is much more to come so stay tuned.

However, once you work for an affiliate platform, you sign up and connect to a lightweight “digital wallet”.

This allows Lean to transfer your payment to your bank accountright nowafter completing a job. There are no additional fees for using Lean and you get paid even faster.

untilraised over $4.5 million and is backed by world-class investors (including our very own Harry Campbell, who is also a consultant to the company). While you won't be able to enroll directly in Lean, it's likely that soon you'll be able to drive or deliver to a partner and enroll through the platform this way.

Pros and cons of using Lean

Benefits:

• Immediate cash advance up to $1,000
• No commissions of any kind

Disadvantages:

• The Gig team is currently unable to apply directly and must apply via a partner platform (Rapidus and more to come).

Tilak Joshi, CEO of Lean, published a post titled“Why I started Lean”and partially declared“Reality goes far beyond simple classifications. Those who operate in the frenetic economy do not choose flexibility over advantage.

Instead, the job search is about empowerment and individuality. It is an economy that demands flexibility and advantages.Workers don't need a new label, they need a new model.that allows them to work the way they want AND get the benefits they need.”

2. Changes

It is movingis a finance app for temporary workers that helps you keep track of your earnings and get a cash advance of up to $1,000.

It works like this: you download the app and then connect the different platforms you work on to keep track of your earnings. Moves then calculates how much you can claim for a cash advance.

Moves is compatible with many different rideshare and concert apps.

You pay one low, simple fee for your cash advance and make weekly payments when paid by the platforms you work with. If you wish, you can also repay your cash advance early.

Pros and cons of using moves

Benefits:

• Quick Cash Advance (Get your money within 1-2 days) up to $1,000
• Partners with many popular rideshare, delivery and guest worker apps

Disadvantages:

• Additional driver support would be helpful - snapshot of odometer or cross platform gains

On the Google Play app, Moves has an average user rating of 3.9 stars out of 5. This reviewer gave it 4 stars, saying in part, "Great app! The process is simple, smooth, and funds are available quickly." Honestly, it was amazing how easy and simple it was to get a loan based on my own work income..."

Writer Enoch Omololu with Savvy New Canadians made aChecking your own movesand gave it a 4.2 out of 5 star rating. The summary of the review says:"Moves Financial is a Canadian financial services platform that offers online loans to freelancers and temporary workers."

in one (no)Interview with writer Jerome Knyszewski, explained Matt Spoke, CEO of Moves,“I still didn't have a perfect understanding of what the problem was or how to solve it, but I remember very clearly seeing a huge gap and opportunity in these things.

Contingent workers were critical to the success of companies like Uber, but they clearly didn't feel they were being treated fairly or adequately supported in their search for a stable career.

That was enough to put me down the rabbit hole to learn all about the gig economy and its workers. I particularly remember a meaningful 15-minute conversation I had with an Uber driver on the way home. He was completely honest with me about the challenges he faced and what motivated him to get into the gig economy in the first place.

It became clear to me the next day. I had a new mission and Moves was born.”

For an in-depth look at Moves, check out our full review.

Do you want to participate in Move?Create a Moves account here.

3. laughs

Giggle offers fast and transparent financing for Uber and Lyft drivers who need fast cash. There are no credit requirements. Instead, you can get an advance by selling a portion of your future sales.

You can borrow up to $5,000 and advance payments will be automatically deducted from your income account, plus a small fee.

Giggle has a quick and easy application process, and if you're approved, the money can be in your account in just a few minutes. The only requirement to be self-employed is to have been employed for at least 3 months at the time of application.

Pros and cons of using Giggle

Benefits:

• Immediate cash advance of up to $5,000
• No credit check required

Disadvantages:

• Pay a fee to borrow your future earnings: Giggle doesn't specify what the fee is, but it can vary depending on the amount of the loan.

This user gave Giggle 5 stars out of 5 and said, "Nobody would lend me money and Giggle Finance came to me. Applying was easy and approval was quick and easy. Great company to do business with!"

4. Stoovo

Stoovo is a slightly different app that really helps you find flexible work options, keeps track of your earnings, and gives you a cash advance if needed. There are over 6,000 different job opportunities to find through the app.

You can use the app to plan your schedule and find the best part-time or flexible job based on your preferences.

Similar to Moves, you can connect all your work and gig accounts in one place and keep track of your income. If you need emergency cash, Stoovo offers a cash advance that you can pay back within 30 days. Borrow up to $100 and there are no hidden fees or costs.

Pros and cons of using Stoovo

Benefits:

• fast cash advance
• No hidden fees
• Help find flexible work opportunities

Disadvantages:

• Lowest maximum loan amount

On the Google Play app, the Stoovo app has an average user rating of 4.0 stars out of 5, although some of the lower rated reviews claim that the low ratings are due to it not being offered in their state. Stoovo is currently only offered in California.

5. Coverage

Coverr is a financial app designed for 1,099 employees that offers a cash advance of up to $1,500. To apply, all you need is your driver's license and proof of income for the last 4 weeks. Approval of a cash advance can take up to 24 hours, so the money can be deposited into your bank account the next business day.

They existwithout interest or commissions,and you can repay the loan over time from your future earnings.

Pros and cons of using Coverr

Benefits:

• Quick cash advance up to $1,500
• No hidden fees
• no credit check
• Custom payment schedule

Disadvantages:

• Longer approval time
• Wait about 24 hours to receive the money after being approved

Adam Figueira von Lending Frontwrote a review for Coverrand said in part: "COVERR's business model solves many of the problems modern workers face, like Uber or Lyft drivers, but initially, the funding process lacked the convenience 1,099 business owners needed."

He continued: “The COVERR team reviewed dozens of options to simplify how they drive customers down the sales funnel, sign for cash advances, track and allocate funds, and manage returns. They needed a complete solution that would meet the needs of their clients and their own business... COVERR is still in its infancy, but with LendingFront streamlining the critical funding process, Kobina and his team can set their targets for future expansion" .

Kobina Ansah, CEO of Coverr,said in an interview,“The term gig worker refers to all independent contractors, and most financial services companies currently on the market serve only a very small portion of this population. Drivers, for example, have historically been underserved, and at COVERR we envision a world where they and other entertainment workers can earn more and have a greater sense of financial security.”

6. Backup

Belay is an app that partners with Uber, Lyft, and Uber Eats to lock in your hourly rate. It works like this: you connect the platform you work on and Belay calculates the highest salary it can guarantee based on the chosen schedule.

If you earn less than the guarantee, Belay will pay the difference. If you earn more, you will be charged a 4% tax-deductible fee, which is used to support the service.

While you are active and having difficulty accepting the ride, if you are unable to meet the Earnings Guarantee, Belay will fund your account with the appropriate amount once you complete your ride session.

You even have the option to "instantly access up to 25% of projected revenue" up front. How does this work? Their FAQ says: “You define and commit to a roadmap of your choosing. We will charge you up to 25% of its expected value with a small reduction of 4%. They pay you in advance and we collect the percentage that we buy while you work”.

This app can be useful if you want to earn a more stable and expected income from ridesharing or if you are having difficulty getting a desired hourly rate. It can also act as a backup for your cash advance.

Pros and cons of using assurance

Benefits:

• guaranteed hourly rate
• Works like Uber, Lyft and Uber Eats
• No late fees to pay you a guaranteed hourly rate

Disadvantages:

• A 4% fee may apply if you exceed the hourly rate (this may encourage some drivers to drive/earn less)
• No large amounts of cash advances available

Kai Golden, co-founder and CEO of Belay explains on his website:"I was raised by a gig worker. Our costs have been high, our incomes have fluctuated. For our family, low demand meant fear, uncertain hours and debt.

We felt stuck, struggling with planning, and our mental health hurt as much as our wallets. I've learned that it's not just about money, it's about consistency.

As the gig economy grows, so does this uncertainty. We started Belay to guarantee your real income, within your chosen schedule, so you can focus on what matters most in your life.”

Only

DuringOnlydoes not offer cash advances, but receives an honorable mention from GSR! It only offers temporary workers like Uber drivers and DoorDashers the opportunity to optimize their time and generate a guaranteed daily income. Harry is such a fan of this company that he joinedas a consultantfor her recently.

You will only work towards hourly earnings figures for all the jobs you work. If you earn less than your daily allowance, they pay the difference. This helps keep your weekly earnings consistent no matter what happens during your work week.

As Bryce Bennett, co-founder and CEO of Solo, recently said onGeekWireGeneric name, “We have always felt that the deck is stacked against temporary workers. They don't have many tools or information to manage their time effectively or efficiently. It's kind of a guessing game."

The idea of ​​Solo is to help gig professionals better understand when, where and on what platform to work on different platforms. Let's say you drive for Uber, Lyft, DoorDash and occasionallypet sitter with rover🇧🇷 It can only help you determine which app is earning the most in a given period of time and help you take the guesswork out of your earnings.

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As you can see, this is the perfect time to become a private transport driver or temporary worker. There is no shortage of legitimate, low-cost cash advance options for 1099 workers.

However, because these apps and the concept of giving cash advances to the Gig team are so new, we are doing our best to gather information and learn as much as we can about these apps. It's great to see the options for temporary workers continue to expand, giving us more of the same benefits as W-2 workers.

Since these apps are free, there is little reason not to sign up only if you need a quick cash advance. Compare the pros and cons of each option to see which works best for you.

Which cash advance app do you find most appealing? Tell us about your experience below if you've tried one!

- Elija @RSG