Did you know? Uber Eats and DoorDash drivers often earn less than the minimum wage in the US. According to a recent report, Uber Eats generated $12.7 billion in revenue, representing an 18% year-over-year increase in profit.
Uber and Uber Eats are among the largest and most popular rideshare and delivery apps, offering some of the most prominent gig economy jobs and operating in over 6,000 cities worldwide. Uber provides consistent opportunities to earn and is a great delivery platform to build a career in the delivery gig industry.
But being an Uber Eats delivery driver or independent contractor isn’t as easy as it seems. You need an extra edge of hard work to increase your earnings and stand out.
At GigsMoney, we’re here to help you by filtering the top 10 best cash advance apps for Uber Eats drivers. These cash advance apps are designed to improve the quality of Uber Eats delivery drivers and strengthen your presence in the gig economy.
10 Cash Advance Apps for Uber Eats Delivery Drivers
GigsMoney
For many hardworking gig workers, GigsMoney may be the best option for easier approval of desired cash advance without adhering to traditional banking criteria. It’s one of the platforms that disburses funds within a few minutes after loan approval. There’s no need for a good credit score, but it can be a pricey borrowing option for some, as rates are on the higher side.
Pros
- Pre-approved advances up to $5,000
- All types of credit accepted
- Funding in minutes, no long waiting
Cons
- APRs on higher side
- Required sign up through a third-party partner
- Only email support, no phone number
Ualett
Ualett is a cash advance app that offers up to $2,000 dedicatedly to rideshare and delivery drivers working for Uber Eats. The application process is very quick, and all you need to do is download the app, create your account, verify your information, and then request the desired amount of advance. The company charges a nominal fee when you borrow money and then directly deducts what you borrow from your future earnings.
Pros
- Flexible remittance options
- Transparent pricing and no hidden fees
- Gig workers can secure funds fast
- Ualett doesn’t partner with most electronic banks
- Offer limited cash advance up to $2,000
- Fees and other charges are on higher side
Fundo
Fundo is a famous cash advance app that offers advances of up to $10,000 to small businesses, gig workers, delivery drivers, and other contract workers. Usually, approval is easy, and funds are disbursed on the same day. It doesn’t require a guarantee, plus it offers a discount on early repayments. However, there’s no contact customer service visible on the website. Additionally, rates and processing fees are on the higher side.
- Offer same-day funding
- High cash advance amount of up to $10,000
- Provide discounts for early repayment
- Customer reviews are mixed
- Rates and fees structure not visible on website
- Factor rates as high as 3.5
Cleo
Cleo is a budgeting app available in both free and paid versions, offering advanced features. It’s ideal for individuals who want to save money and improve their spending habits. It monitors your monthly financial targets and shows how you are spending your cash. If you want a cash advance, you’ll need to pay a monthly subscription fee of $5.99. For same-day fund transfer, an additional $3.99 is required. If you’re looking for an app that offers multiple saving tools and a cash advance, Cleo could be a great option.
Pros
- No requirement of credit check
- Interest-free cash advances
- Includes many useful money saving tools
- Funds transfer takes 3-4 business days
- $3.99 express transfer fee
- $5.99 monthly membership fee
Giggle Finance
Giggle Finance typically offers merchant cash advances of up to $5,000, primarily to 1099 workers, gig workers, independent contractors, and other self-employed individuals. Both approval and funding are offered within a few minutes of waiting. However, it doesn’t mention its rates and other fees on its website, and options for communication are also limited. Giggle Finance is ideal for gig workers who require immediate and short-term financial assistance until their next earnings cycle.
Pros
- Fast approval and funding
- It accepts almost all gig workers and self-employed
- No minimum credit score required
Cons
- Not transparent about rates & fees
- Poor customer reviews
- Origination fee of 7.25%
GigsCheck
GigsCheck is a leading app that offers instant cash advances of up to $5,000 specifically designed for gig workers, rideshare and delivery drivers, and self-employed individuals. There’s no credit check, and even those with bad credit are accepted. If you are looking for short-term financing, GigsCheck can assist you. They’ve a highly regarded cash advance specialist who can help you through the process. However, rates and fees aren’t disclosed on its website.
Pros
- Easy approval and fast funding in minutes
- Good option for poor credit holder
- Variety of loan specialist to guide you
Cons
- Fees and rates are not disclosed on website
- Rates are on little higher side
- Full list of loan partners isn’t available
Fundera
Fundera, by NerdWallet, provides a business loan connection service with its affiliated lenders. It’s ideal for small business owners and self-employed individuals who need to compare lenders quickly with a single application and receive funds within 24 hours. Fundera offers term loans, lines of credit, SBA loans, short-term options and more. However, the problem is that it doesn’t provide details and requirements for qualification on its website.
- Multiple loan options available
- Loan specialist for support
- Quick funding
- Range of APRs not disclosed
- Can lead to excessive solicitation
- Limited number of partners
SoFi
If you have a good credit score, SoFi is a great option for you. It offers fast funding and easy approval for personal and debt consolidation loans of up to $100,000, starting at an APR of only 8.99%. It’s one of the few lenders that never charges fees on its personal loans, not even late fees. If you’re a gig worker, independent contractor, or self-employed with a good credit score, consider SoFi for an excellent borrowing experience.
Pros
- Same-day funding with some applications
- Borrow up to $100,000
- No prepayment penalties or late fees
Cons
- Some complaints of higher-than-expected rates
- Origination fee required to buy down interest rate
- Minimum loan amount is higher than some competitors
LendingStream
LendingStream is the best option for individuals with a good-to-excellent credit score who are seeking to borrow a substantial loan amount. It offers personal loans of up to $100,000 at very competitive rates, with discounts on APRs, and terms that can be as long as 20 years, depending on the loan type. Typically, you need a good credit score to qualify, which is not possible for all. LendingStream doesn’t have a customer service phone number on its website, and you’ll only reach out via email conversation.
Pros
- Funding as soon as the same day
- No origination fees
- Better rates than many competitors
- Large minimum loan amount of $5,000
- No preapproval process
- No customer service phone number
Upstart
For many borrowers, including gig workers and Uber Eats delivery drivers, Upstart’s legitimate underwriting criteria make it easier to get approved and funded. Once approved, funds are disbursed within one business day. However, interest rates are on the higher side, even for those borrowers who meet its minimum requirements. Upstart is ideal for individuals who require rapid funding and can’t qualify for traditional lending options from banks.
Pros
- Rates starting at 6.7%
- Considers education and career in underwriting process
- Loans up to $75,000
Cons
- Origination fees up to 12%
- Only offers two loan terms
- APRs as high as 35.99%
Sally is the Growth Marketer at GigsMoney. With years of experience as an independent contractor, she understands both the fulfillment and challenges that come with the gig economy. Now, she is enthusiastic to help build a collective voice to put gig workers at the forefront and drive meaningful change.
