Unlike traditional loans, merchant cash advances do not require collateral, a credit check, or fixed monthly payments. Instead, the repayment amount is based on a percentage of the independent contractor’s business income, making it a flexible option for 1099 employees who may not qualify for traditional loans. When applying for a merchant cash advance, you’ll receive same-day or next-day funding, which can be especially beneficial for gig workers and side hustlers who need quick access to cash to cover unexpected expenses or take advantage of new opportunities.

Independent contractors and sole proprietors, such as gig workers, freelancers, micro businesses, and owners/operators, including Lyft and Uber drivers, can take advantage of Bankerr’s merchant cash advance program by applying today.

Independent contractors and sole proprietors, such as gig workers, freelancers, micro businesses, and owners/operators, including Lyft and Uber drivers, can take advantage of Bankerr’s merchant cash advance program by applying today.

Repayment terms for a merchant cash advance (MCA) are typically based on a percentage of the applicant’s future sales, and the repayment period can range from one month to several months. Because MCA’s carry a much higher rate compared to traditional financing, it’s vital to educate yourself to make the best choice on whether a merchant cash advance is the best funding option for you.