Giggle Finance offers merchant cash advances (MCAs) geared toward gig workers, self-employed individuals and other small businesses. It also advertises fast approval and funding possible within minutes. But its MCAs only go up to $10,000 for first-time borrowers, which is on the small side compared to other MCA providers. Plus, it doesn’t disclose rates, charges origination fees and has some very poor customer reviews.
So, if you’re looking to borrow more money, avoid some of those fees and work with a more highly rated lender, check out our picks for loans like Giggle Finance. We’ve included options for other MCA providers as well as personal loans for business — which may be easier to qualify for if you have a newer business.
Using a business loans marketplace like Lendzi gives you the opportunity to compare multiple MCA providers with one application. This gives you a much wider range of options than you can get with Giggle Finance, with amounts ranging from $5,000 to $500,000.
You'll likely find more competitive rates than Giggle, too. Lendzi also has highly rated loan specialists ready to walk you through the process or help you decide if another type of financing makes more sense for your business. But you'll have to apply to check rates and fees, and marketplaces can often lead to a lot of follow-up marketing.
Loan amount
$5,000 to $500,000
Starting Factor Rate
1.1
Min. Credit Score
580
Using a business loans marketplace like Lendzi gives you the opportunity to compare multiple MCA providers with one application. This gives you a much wider range of options than you can get with Giggle Finance, with amounts ranging from $5,000 to $500,000.
You'll likely find more competitive rates than Giggle, too. Lendzi also has highly rated loan specialists ready to walk you through the process or help you decide if another type of financing makes more sense for your business. But you'll have to apply to check rates and fees, and marketplaces can often lead to a lot of follow-up marketing.
Unlike Giggle Finance, Rapid Finance doesn't charge origination fees for its MCAs, and it offers much larger advances up to $500,000. It also has higher ratings than Giggle Finance on review sites such as the Better Business Bureau (BBB) and Trustpilot. But its rates aren't disclosed, you may be required to make daily repayments and it only accepts businesses with sufficient credit or debit card sales or other receivables.
Loan amount
$5,000 to $500,000
Unlike Giggle Finance, Rapid Finance doesn't charge origination fees for its MCAs, and it offers much larger advances up to $500,000. It also has higher ratings than Giggle Finance on review sites such as the Better Business Bureau (BBB) and Trustpilot. But its rates aren't disclosed, you may be required to make daily repayments and it only accepts businesses with sufficient credit or debit card sales or other receivables.
Since MCAs are generally expensive — and not suitable for all businesses — small businesses or gig workers may want to consider a personal loan from Avant to fund their business. Unlike some lenders, Avant welcomes self-employed workers and offers better rates than Giggle Finance, starting at 9.95% APR. It also offers loan amounts up to $35,000 and loan terms as long as 60 months. But it charges origination fees, and if your credit is poor, you could pay as much as a 35.99% APR. It's also not available in all states.
Min. credit score
550
APR
9.95% to 35.99%
Loan amount
$2,000 to $35,000
Not available in: Iowa, Kentucky, Massachusetts, Michigan, Montana, Virginia, West Virginia
Since MCAs are generally expensive — and not suitable for all businesses — small businesses or gig workers may want to consider a personal loan from Avant to fund their business. Unlike some lenders, Avant welcomes self-employed workers and offers better rates than Giggle Finance, starting at 9.95% APR. It also offers loan amounts up to $35,000 and loan terms as long as 60 months. But it charges origination fees, and if your credit is poor, you could pay as much as a 35.99% APR. It's also not available in all states.
Pros
Cheaper than an MCA like Giggle
Accepts self-employment income
APRs start at 9.95%
Cons
Charges origination fees
Rates as high as 35.99%
Not available in all states
Loan amount
$2,000 to $35,000
APR
9.95% to 35.99%
Interest Rate Type
Fixed
Min. credit score
550
Turnaround Time
As soon as the next business day
Loan Term
24 to 60 months
Personal loans from $2,000–$35,000. If approved, the actual loan amount, term, and APR that a customer qualifies for may vary based on credit determination and other factors. Avant branded credit products are issued by WebBank, member FDIC.
Upgrade offers personal loans for businesses and accepts joint applicants, which can make it easier to qualify for a bigger loan at a more competitive rate. It also offers larger loan amounts than Giggle Finance — up to $50,000 — and loan terms as long as 84 months if you want to keep your monthly payments low. But, like Giggle, it charges an origination fee. Plus, rates can go as high as 35.99%, and self-employed borrowers must show two years of tax returns to prove income.
Min. credit score
580
APR
7.99% to 35.99%
Loan amount
$1,000 to $50,000
Not available in: Colorado, Iowa, Maryland, Vermont, West Virginia
Upgrade offers personal loans for businesses and accepts joint applicants, which can make it easier to qualify for a bigger loan at a more competitive rate. It also offers larger loan amounts than Giggle Finance — up to $50,000 — and loan terms as long as 84 months if you want to keep your monthly payments low. But, like Giggle, it charges an origination fee. Plus, rates can go as high as 35.99%, and self-employed borrowers must show two years of tax returns to prove income.
Pros
Accepts joint applicants
Rates start at 7.99%
Loans up to $50,000
Cons
Charges origination fees
Rates up to 35.99%
Requires two years of tax returns
Loan amount
$1,000 to $50,000
APR
7.99% to 35.99%
Interest Rate Type
Fixed
Min. credit score
580
Turnaround Time
1 to 4 business days
Loan Term
2 to 7 years
Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 7.99%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.
Factor rates for Credibly MCAs start on the low end at 1.11, which is more competitive than Giggle Finance. It also offers a fast approval process, with funding possible as soon as the same day, and a low credit score requirement of 500. And its advance amounts are much higher than Giggle — up to $600,000. But you'll need to bring in at least $15,000 a month, and it might require daily repayments.
Loan amount
$5,000 to $600,000
Starting Factor Rate
1.11
Min. Credit Score
500
Factor rates for Credibly MCAs start on the low end at 1.11, which is more competitive than Giggle Finance. It also offers a fast approval process, with funding possible as soon as the same day, and a low credit score requirement of 500. And its advance amounts are much higher than Giggle — up to $600,000. But you'll need to bring in at least $15,000 a month, and it might require daily repayments.
Pros
Low starting rates
Advances up to $600,000
Accepts poor credit
Cons
Need good credit for the best rates
Requires $15,000 in monthly revenue
May require daily repayments
Loan amount
$5,000 to $600,000
Starting Factor Rate
1.11
Min. Credit Score
500
Loan Term
3 to 24 months
Requirements
500+ credit score, 6+ months in business, $15,000+ average monthly bank deposits
Giggle Finance is one of the few providers to offer advances for gig workers, self-employed individuals and other small businesses. The requirements to qualify are less strict than most business lenders, and it offers discounts for early repayments. But it doesn’t have many positive reviews, it isn’t transparent about rates and it charges origination fees.
For these reasons, you may want to consider alternative MCA providers, other types of business loans or even personal loans, which may be easier to qualify for and can also be used to fund your business.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf. See full bio
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