Can gig workers qualify for a merchant cash advance?

Yes — providers like Giggle Finance and Fundo were built specifically for 1099 workers, freelancers and sole proprietors. Both approve based on bank deposit history and monthly revenue, and neither sets a credit score requirement.

What if my gig work is a new side hustle?

Once your side hustle has a few months of consistent income behind it, an MCA becomes realistic, since these providers evaluate bank deposits rather than requiring an established storefront or credit history. Whatever type of side hustle you're getting off the ground, pick one with low enough startup costs to reach that three-month mark without borrowing first.

What's the difference between a gig-focused MCA and a traditional MCA?

Traditional MCAs were built for businesses processing high volumes of credit card sales. Gig-focused MCAs accept any consistent bank deposits as revenue, with minimums as low as $1,500 a month per Giggle Finance and Fundo's websites, and don't require you to process card transactions or operate a physical storefront.

Is a merchant cash advance a loan?

Technically, no. As Fundo and Ualett both explain on their websites, an MCA is a purchase of your future revenue, not a loan. It's not subject to the same interest rate regulations as traditional loans, which is why the cost is expressed as a factor rate rather than an APR. Always calculate the total repayment amount before accepting any offer.

How fast can I get funded?

Giggle Finance deposits funds as soon as approval is complete. Fundo offers same-day funding for applications approved before 3 P.M. ET. Ualett deposits funds within 24 business hours for new customers and in minutes for returning customers with RTP-enabled bank accounts. These timelines are per each lender's own website.

Do merchant cash advances hurt your credit score?

Giggle Finance states on its website that eligibility is based on banking history, not credit. Fundo confirms your credit score has no impact unless you have an open bankruptcy. Ualett's FAQ states they do not run credit. Lendesca requires a credit score of approximately 580, and Lendio notes some lenders in its network may check credit.

Can I get a merchant cash advance with bad credit?

Yes, with most providers on this list. Giggle Finance sets no credit score requirement. Fundo explicitly states your credit score doesn't affect your application as long as you don't have an open bankruptcy. Lendesca requires approximately 580, and Lendio's marketplace starts at 500.

What happens if my income drops and I can't keep up with repayments?

Giggle Finance ties repayments directly to your weekly business revenue, meaning payments adjust with your earnings. Fundo's website notes agents are available to walk you through your terms and options. If you're struggling with any provider, contact them directly as soon as possible — ignoring the situation can lead to additional fees or collection action.

Mike Rheaume, Lead Growth Manager, US at Finder

Mike Rheaume is the Lead Growth Manager for Finder, helping readers get the best info and deals on financial products across Lending, Banking and Investing. Before Finder, Mike cofounded online wedding photographer directory SnapKnot. Originally from the Boston suburbs, Mike now enjoys sunny, snowless winters in San Diego. Mike is passionate about personal finance, travel, and Boston sports.