Cash Advance for Freelancers

• Freelance Cash Advance Definition
• Cash Advance for Freelancers Cons
• Cash Advance for Freelancers How It Works
• Сash Advance Apps for Independent Contractors
• Notable Cash Advance Apps:
• How Can Small Business Owners Benefit From a Freelance Cash Advance?
• Why Get Your Freelance Cash Advance From pdl247?

According to statistics 1/3 of all Americans are involved in freelancing. Everybody may come across different hardships. So freelance cash advances can become a great asset to them.

Freelance Cash Advance Definition

It has been designed for freelancers and is aimed at offering advance payment up to $5,000. This type of advance is available to individuals who work as freelancers, self-employed individuals, or small business owners. The funds from the cash advance can be utilized for various purposes, giving freelancers the freedom to address their individual needs. In this relation payday loans for independent contractors can also serve as a means of financing freelancers.

Cash Advance for Freelancers Pros

Quick Access to Cash.

Unlike the usual ways of borrowing, freelance loans allow you to get access to money in the shortest possible time.

No Hard Credit Check.

Unlike conventional banks, payday loans for independent contractors increase your chances of being approved for a loan because of the use of soft credit check. Using this approach we kill two birds with one stone: we speed up the verification process and maximize your chance of winning the race to find funds.

Multiple Choices for Spending Money

You are not limited in the purposes for which the money is taken. You can invest it in business, buy new equipment. Or you can just spend it on your own needs.

High Approval Rate

Minimal document package and no hard credit check enable potential borrowers to skyrocket their chances of approval. 8out of 10 applications are approved.

No Hidden Costs

Our policy is to create the most comfortable and fair conditions for the transaction. Once the contract is concluded, neither the interest nor the amount of payment will be changed.

Cash Advance for Freelancers Cons

High Interest Rates

It is no secret that in most cases cash advance for freelancers is very expensive for borrowers. Especially for those with bad credit. However, this disadvantage is easily recouped by the high approval rate on loans.

Impact on Credit Score

If you are a delinquent payer, of course it will affect your credit score. At the same time, faithful and timely repayment of your loan will help you build your credit.

Shorter Repayment Periods

In some cases, this is really a big disadvantage as it delays the time to pay off the loan. You’d like to get your hands loose to take out another loan but you haven’t paid off the old one yet.

Cash Advance for Freelancers How It Works

1. Apply for a cash advance by opting for an online platform or mobile app.
2. The cash advance provider evaluates the application and assesses its creditworthiness. Unlike traditional loans, cash advances often do not heavily rely on credit scores. Instead, the provider may consider the freelancer’s income stability, payment history, and overall financial situation to determine eligibility.
3. Once approved, the cash advance provider determines the maximum advance amount the freelancer can receive. This amount is typically based on the freelancer’s income and ability to repay the advance.
4. Upon approval, the funds are typically deposited directly into the freelancer’s bank account. The length of time for disbursement may vary depending on the provider, but it is often done within a few business days or even within hours in some cases.
5. Cash advances for freelancers usually come with specific repayment terms. These terms outline how the freelancer will repay the advance, including the repayment schedule and any associated fees or interest rates. Repayment is typically structured as a percentage deduction from future earned income, ensuring that the repayment aligns with the freelancer’s cash flow.
6. You start paying off the loan amount taken.

Сash Advance Apps for Independent Contractors

Cash advance apps for independent contractors are becoming increasingly popular in the gig economy. These apps provide a convenient and accessible way for independent contractors to access funds quickly and bridge any cash flow gaps they may encounter.

Notable Cash Advance Apps:

1. Earnin: This app allows users to access earned but unpaid wages before their regular payday. It offers a tip-based model, where users can choose to tip what they think is fair for the service.
2. Dave: Dave provides cash advances of up to $100 based on users’ banking activities and upcoming paychecks. It offers fee-free membership and optional tipping for its services.
3. FlexWage: FlexWage integrates with employers to provide on-demand access to earned wages. It offers a financial wellness platform and tools for budgeting and savings.
4. Brigit: Brigit provides cash advances of up to $250 without interest or credit checks. It also offers tools to help users with budgeting and tracking expenses.

How Can Small Business Owners Benefit From a Freelance Cash Advance?

We suggest you take a short quiz and answer three simple questions:

• You have the opportunity to make money, but expenses you can’t afford to pay are preventing you from running your business.
• You need funding to make investments, such as hiring a new employee or purchasing additional equipment that will increase your earning potential in the future.
• You have a reliable but slow-paying customer whose unpaid invoice is putting a strain on your working capital.

If you answered affirmatively to 2-3 questions from this list, then in all likelihood you should consider cash advance for freelancers.

Why Get Your Freelance Cash Advance From pdl247?

Simple Application Process

We have simplified the application process as much as possible. Only a few minutes separate you from receiving a reply and possible approval of the loan.

 Reliable Direct Lenders

We do not deal with lenders who have tarnished their reputation. Only verified lenders and fair deals.

Clients Control the Process

You will be able to control the process from sending the application to receiving the money. If you are not satisfied with the loan, you can always discuss the details or choose another lender before the contract is signed.

Years of Experience and Positive Feedback

For over 6 years we have been helping you close the holes in your budget including offering cash advance for freelancers.

Fast Money Transfer

We guarantee that the money will be transferred to your account no later than the next banking day, unless otherwise specified in your contract.

Alison Bennett

Alison Bennett is a licensed Loan Officer working in pdl247 for over 3 years.

Apply now

We would like to draw your attention to another platform –  PDLoans247. With more than 6 years on the market, this service offers loans on the most favorable conditions. No hidden costs. Quick solution to your problem.