Best Cash Advance Apps for Freelancers

If you’re a freelancer or self-employed, getting a bank loan is super tough. Banks and other traditional lenders require documentation and proof of regular income. What? If you need to cover uncounted expenses and you don’t have money to fill the gap, what can you do? Right now, you might be looking for a cash advance. GigsMoney’s guide to advances for our hardworking freelancers shares some key info.

10 Best cash advance apps for Freelancers

If your client’s payment is delayed but you need cash before your next payout, think of a cash advance app. There are several types of cash advance apps for gig workers, freelancers, and self-employed individuals – we’ve listed the top 10 apps to help you avoid confusion and save time.

GigsCheck

With GigsCheck, borrowers can easily get cash advances up to $5,000, and it doesn’t require a hard credit check as an eligibility criterion. It’s best for those small businesses, freelancers, and self-employed who want to compare lenders with a single easy application, and get funds within a few minutes. GigsCheck also lets you adjust your payment schedule if your finances change. However, it doesn’t show loan details and requirements to qualify on its website, and you need to contact its customer support.

Best for: Borrowers with bad credit and to compare multiple loan offers.

Pros

• Fast funding possible
• No prepayment penalties
• No hard credit check

Cons

• Requires direct deposit
• Range of APRs not disclosed
• Mixed customer reviews

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Cleo

Cleo is a budgeting app available in both free and paid versions. It might be an excellent option for those who want to break their bad money habits and spend more wisely. With the Cleo app, you can track your monthly financial targets and see where you’re spending your cash. However, if you want to get a cash advance, you need to pay a monthly subscription fee of $5.99, and a same-day funds transfer with an extra cost $3.99. As a new user, you can borrow between $20 and $70, but after establishing a payment history, you can apply for a max that tops out at $250.

Best for: Cleo could be a good choice for those who want a personalized AI budget planner, multiple savings tools, and low-balance alerts

Pros

• No interest on cash advances
• Tools to help you save money and build credit
• No credit check required

Cons

• $5.99 monthly membership fee
• $3.99 express transfer fee
• 3-4 days for regular transfers

EarnIn

EarnIn is a cash advance app that offers up to $150 per day from your earned income and $750 per pay period. Gig workers, freelancers, and self-employed individuals must submit their employment details and connect their bank account to become a verified user. You don’t need to pay fees to access any services on EarnIn, but to get the Lightning Speed feature to get quicker funding, you’ve to pay extra.

Best for: Those gig workers or freelancers who earn at least $350 and want a no-fee, interest-free way to access money before their next payday.

Pros

• Offer advances up to $750
• Only charges for fast transfers
• No monthly subscription required

Cons

• It requires direct deposit
• Low customer rating on Trustpilot
• Have to show proof of income

GigsHelp

GigsHelp offers cash advances to rideshare and delivery drivers, gig workers, freelancers, and independent contractors, with easy approvals and funding in minutes. Eligible borrowers can get up to $5,000 with no personal guarantee requirement. It accepts all types of credit, but it doesn’t show its rates on the website – and you need to contact customer services.

Best for: Those individuals who don’t qualify for less expensive financing and can afford to pay the advance back quickly.

Pros

• Funding in minutes
• Cash advances up to $5,000
• No subscription needed

Cons

• Direct bank deposit required
• No phone support
• Mixed customer reviews

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Dave

Dave is a banking app that offers cash advances of up to $500 to gig workers, freelancers, and self-employed individuals on every pay period. If you pay $5 per month, you get funds transferred directly to your bank account within three business days. To get instant fund transfer, you’ve to pay between $3 $25, depending on the borrowing amount and where money is sent – Dave Spending account or external debit card. The Dave app also helps you to track your finances, and it includes an automatic budgeting feature, so that you can see your pending or upcoming bills.

Best for: To get a small amount of loans and cover budget shortfalls, but watch out for rates and extra fees.

Pros

• Low monthly subscription charges
• Includes credit-building programs for free
• Can pause your subscription to save on fees

Cons

• Same day transfers can cost up to $25
• Some users complain of fluctuating loan amounts
• Advances are limited to $500 per pay period

Brigit

Brigit is a financial app that includes both free and paid subscriptions. It offers cash advances up to $250 per pay period, but you must sign up with one of two paid plans: Plus, or Premium. It provides extra flexibility for gig workers and freelancers by allowing them to extend the payment due date up to three times. Standard cash disbursement takes two to three days, but fast transfer is only available with a Premium subscription or by paying an extra fee. However, it doesn’t disclose its instant transfer fees.

Best for: Borrowers who want interest-free and no late payment fees cash advances.

Pros

• Overdraft protection
• Payment extensions
• Credit builder program

Cons

• Instant transfers cost extra
• Some users complain subscription hard to cancel
• $8.99 to $14.99 monthly membership fee monthly membership fee

Cash App Borrow

Cash App Borrow is a hidden feature inside the Cash App standard app that is only available to selected users. Currently, it’s a pilot project, which means not everyone is allowed to see this option inside the Cash App interface. But if you want to use this feature, you can borrow up to $200, but you’ll be required to pay an extra 5% as a finance fee on the borrowing amount. Cash App Borrow could be a good option for those who want a cash advance without requiring proof of direct deposits.

Best for: If you’re looking for a simple peer-to-peer payment app with no debit card fees, Cash App is worth considering.

Pros

• Easy-to-access built-in-functionality
• Longer repayment term than most apps
• No monthly membership fee

Cons

• Maximum $200 withdrawal
• Charges late fees
• 5% fee for advances

Albert

Albert is a banking app that offers free and instant cash advances, and you can pay up to $500 with a 2-4 4-business-day fund disbursement. But, if you want fast funds on the same day, you’ve to pay an extra $6. The Albert app includes a revolutionary Genius feature powered by AI, and a human-supported service that can answer your financial questions and help you build an investment portfolio with just a few details. Typically, Genius feature costs between $11.99 $16 a month if you don’t manually cancel its free trial. Some users report finding it annoying to cancel their subscription.

Best for: Borrowers with a Genius subscription who are worried about overdrafting their account.

Pros

• Gives you 10 days to repay the overdraft
• No credit check required.
• Saves you from overdraft fees

Cons

• Must have the Smart Money feature turned on
• Must have Genius subscription to access
• Mixed customer reviews

Varo

Varo Advance is sponsored by Varo Bank, which offer cash advances up to $500 with no interest and late fees to pay. There’s no need to enroll into monthly subscription to qualify, and unlike other cash advance apps for freelancers, you get up to 30 days long period to pay it back. Fund transfer is instant, but it charges fees for advances, which vary depending on how much you borrow. To qualify for Varo Advances, you have to earn at least $800 a month in qualified direct deposits.

Best for: Individuals who want to access cash advances with no interest, plus other helpful banking tools without paying monthly fee.

Pros

• No monthly subscription
• Flexible repayment terms
• Has many other banking tools

Cons

• Required transfer up to $40
• Requires direct deposit
• All advances trigger a fee

Current

Current offers higher cash advance up to $750 as compare to other its competitors in the market. You can save lots of money as Current app doesn’t require monthly subscription to qualify. It includes other useful banking features, plus never checks credit, and full interest-free. But you need to deposit of $500 or money with direct deposit in order to qualify for advances.

Best for: Borrowers who want to access up to $750 cash advances, along with other banking tools.

Pros

• No monthly subscription fees
• Advances up to $750
• Offers fee-free overdraft protection and other banking features

Cons

• Must receive at least $500 in eligible deposits
• Mixed reviews
• Requires direct deposit ($500 or more)

Pros and cons of freelancer’s cash advance apps

Like any other financial product, cash advance apps for freelancers also come with pros and cons. It’s essential to be aware of them before making up your mind about the advances.