Affordable loans for gig workers

Borrow up to $2,500 in three easy steps

What can you do with a personal loan?

Upgrade your regular bike into an ebike.

Consolidate your credit card debt.

Get your car back on the road.

Cover a health expense, e.g. dental surgery or custom orthotics.

Get out of high interest debt cycles.

Pay your rent for a month.

Invest in your favorite hobby.

Take a vacation.

How much would you like to borrow?

Which payback term would you like?

13-week payback terms

Total Repayment

$0

Payments

$0 weekly

26-week payback terms

Total Repayment

$0

Payments

$0 weekly

Compare the savings we offer against other loan products.

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Total loan amount
Cost of borrowing
Compared to a credit card
Compared to other loans

$0

$0

$0

$0

$0 loan with a payback term of 13 weeks

*Annual Interest Rate (AIR) of 15.65%. Annual Percentage Rate (APR) of 22.96% on a 13-week term and 19.42% on a 26-week term

Our criteria

We welcome you to apply if you meet these minimum requirements:

  • You must live in Alberta or British Columbia or Ontario

  • You must have an active bank account

  • You must have received income from one of the above platforms in the last 90 days

Other factors such as your spending habits, non-sufficient fund charges, and average balance also impact our assessment.

Step One

Request loan

When you apply for the loan, our automated system will review your application and either approve you within 15 minutes or flag your application to us for manual review. We’ll always get back to you within 1 business day.

Step Two

Get paid

If you’re approved, we make an Electronic Fund Transfer to deposit the money into your bank account. 

Step Three

Keep moving

Use the money as you need – pay off high-interest credit, upgrade your transportation, clear some bills – it’s up to you!

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Safe and affordable low-fee personal loans

Getting a financial loan is not always easy. You may have more questions than answers: How does Moves’ gig economy loans stand out? What are the differences between personal loans? What is even considered an affordable loan? 

Let us help break it down. 

Types of Personal Loans

Primarily, there are two types of personal loans: secured and unsecured.

As the name implies, secured personal loans have their value tied to a collateral asset, normally your property or your car. Failure to repay a secured loan could result in your collateral being seized by the lender.

The main advantage of a secured loan is that lenders typically charge lower interest rates and may lend larger amounts of money. In some cases, a secured loan may be some of the most attractive low fee loans available.

The downside? Not only is there more paperwork on a secured loan, but it does require you to put something valuable up as collateral. If you are unable to repay your loan, you could lose ownership of your collateral forever. Common types of secured personal loans include:

  • Home Equity Line of Credit (HELOC)
  • Auto loans
  • Pawn shop loans

In contrast to secured loans, no collateral is required on an unsecured loan. You can use an unsecured loan for just about anything, from planned expenses like family vacations to emergency expenses such as car repairs.

The advantage to an unsecured loan is that it’s not tied to losing any personal property if you default on the loan. Unsecured loans are also usually easier to apply for.

The bad news about unsecured loans is that they are often more expensive, and you generally can’t borrow as much money. Additionally, failure to repay an unsecured loan may result in late fees which make your loan much more expensive over time.

Common types of unsecured personal loans include:

  • Credit cards / Lines of credit
  • Payday loans
  • Student loans

Logistics of Getting an Affordable Loan

Although all loans are granted because the lender has faith that they will be paid back, this level of faith varies among groups and makes it more difficult for some individuals to borrow money. In addition to your credit score, most lenders look at your debt-to-income ratio. Debt-to-income ratio measures what percentage of your income is paying off existing debts, and a low ratio implies that you have money available to responsibly take on new debt obligations.

When you have a traditional employer, most lenders have an easier time understanding your debt-to-income ratio; your income is perceived as more stable and can be verified with a letter from your employer.

On the other hand, many lenders are skeptical of self-employed or unstable income statements. Even if you’re earning good money, jobs in the gig economy are perceived as less stable, and independent workers are often penalized on their loan applications.

While there are some payday loans that require no proof of income, these usually come with extremely high fees.These predatory loans often charge 60%-600% APR, and need to be repaid in short amounts of time.

If payday loans are not repaid on time, usually within two weeks, it often becomes necessary to take out another payday loan to settle the debt on the first loan. These lending practices often leave people trapped in cycles of debt, and unable to put their finances towards savings or expenses.

Alternatives to Credit Cards and Payday Loans

If your status as an independent or gig worker makes it impossible to find low fee personal loans or credit limit increases, what do you do? It’s impossible to avoid emergencies, and being an independent worker shouldn’t disqualify you from accessing affordable financial products. After all, just because you’re self-employed or an independent contractor, doesn’t mean you shouldn’t be able to afford the same things as anyone else!

Rather than expensive payday loans or banks that won’t accept self-employment as proof of income, your best bet for borrowing money is an independent lender.

Moves is the ultimate payday loan alternative for independent workers. Because Moves works exclusively with freelancers and gig workers, you never have to worry about being refused credit because of the type of work you do.

With a very affordable APR, Moves charges interest comparable to a credit card, but with a longer repayment window of 13 or 26 weeks. The longer repayment window makes Moves a good alternative to credit cards for individuals who require more time to repay large purchases. Plus, since there are no penalties for repaying your Moves loan early, you can take full control of your finances and avoid interest charges.

The best part about Moves is that, unlike banks, borrowing money is fast and easy. Applying online is simple and takes less than five minutes, with loan approvals happening within minutes of submitting an application. Once you’re approved for a loan and confirm your interest, you’ll receive your funds within 1-3 business days. No paperwork, no bureaucracy, and I

When the road gets rough Moves is here to help