Moving The Gig Economy Forward, Together

Product Announcements

Moves Business Cash Advance
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  • Moving The Gig Economy Forward, Together
PUBLISHED BY Alwin Wong / February 1, 2021

Introducing Moves Business Cash Advance

Since Moves first launched last March, our underlying goal was to build a platform where we can recognize and support workers in the gig economy.

The supply side of the gig economy (eg, drivers, couriers, taskers) is made up of millions of independent workers that are highly diverse. Yet, they have found common ground across identities, communities, desires, and challenges.


diversity of gig workers


The pandemic has both exacerbated the need for gig workers in providing essential services, but has also brought to light the financial limitations that are felt within the gig community.

At Moves, we want to celebrate the flexibility and diversity of independent work while addressing the clear challenges gig workers face when navigating their finances.

Challenges such as income instability, accessing traditional financial products, and lack of benefits leaves gig workers desiring:

  • Greater leverage for flexible earnings to set themselves up towards future goals (ex: starting a small business)
  • More income to reach short-term financial goals (ex: pay off debt, save for higher education, build up savings)
  • An alternative path to traditional careers focused on flexibility and independence
  • Better access to income-earning opportunities quickly, with minimal barriers to entry

We’re the first to admit, these are not easy challenges to tackle. However, with your help over these past few months, we’ve taken a major step forward to provide financial security that enables greater flexibility, accessibility, and independence for gig workers. And in doing so, Moves designed a platform that helps improve their financial habits over time.

That’s why we’re excited to announce the launch of Moves Business Cash Advance!

What is a Business Cash Advance?

On our journey to help gig workers build better financial habits, we have developed a product that allows our members to create a financial safety net or cash reserve so that they aren’t left without options when unexpected expenses occur.

Our Business Cash Advance (BCA) is not a loan, but rather, it is an advance based on your future earnings – all without ever checking your credit history.

Your future earnings represent the anticipated income that you will earn in the future. With our BCA, you are receiving a cash advance today in exchange for providing a small portion of your future income to Moves.

Tailor-Made for the Needs of Gig Workers

Moves is eligible for all independent ‘gig’ workers in the US, earning income on any of our 15+ supported platforms including Uber, Lyft, Doordash, and Instacart. You can see a list of our supported gig platforms here.

How Moves Works

Say Goodbye to Interest Rates

Unlike traditional banks, we’ve forgone the idea of varying interest rates to make our financial products simple and easy to understand.

Members will only have to pay a 5% charge when an advance is issued. By connecting your bank account with Moves, you can deposit some or all of the funds directly into your bank.

To pay back your balance, we’ve designed a payment schedule spread throughout the course of 10-weeks, where Moves will automatically withdraw equal incremental amounts so that you won’t ever have to miss a payment.

“We’re really excited to introduce a product that is exclusively designed for the way independent workers earn income and run their businesses. It’s time that they get the recognition that they deserve.” – Sam Pajot-Phipps, Head of Growth at Moves

Let’s run through an example:

George, a longtime rideshare driver, has completed thousands of successful trips on Uber. His success has allowed him to slowly build up his savings while putting away money towards his daughter’s college fund. However, on one wintery morning, George was having troubles with his car engine. Once he brought the car to his local mechanic, it appeared that his timing belt had seen the last of its days.

To replace his timing belt, it would cost nearly $1,000. Not only would this dip into his savings, but his only means of income is parked away at the auto shop for another 10 days.

Unfortunately, less than 40% of Americans today are able to foot a $1,000 unexpected expense. George faces a problem that many others are familiar with but have come to dread. With what seems  like an onslaught of incoming bills, one question continues to repeat in George’s mind, “How can I keep my head above water?”

With Moves, gig workers like George are able to have a financial safety net where they can reliably and quickly access cash, without ever having to break their own bank.

Based on his gig earnings, George is able to receive a $1,000 advance while only incurring a 5% charge on the amount issued. In total, George pays back $1,050 over the course of 10 weeks at equal installments of $105/week, allowing him to get back on his feet and into the driver’s seat.

This is the peace of mind that all gig workers deserve.

Paving the Path Forward

Let’s face it. The traditional banking system is outdated – financial services can’t keep up with the rise of the gig economy, nor the growing needs of independent ‘gig’ workers and self-employed freelancers.

We want to support you on a journey to build confidence in your finances with no additional pressure. We make accessing money easy, so you can take control of your finances, gain flexibility over your gig earnings, and get peace of mind.

And as Moves grows alongside the gig economy, we want to acknowledge and appreciate the support of our members. We understand that gig work is unpredictable, but your finances don’t have to be. Moves is proud to support thousands of independent workers on their financial journey and we look forward to continuing to serve this community.

Stay tuned for more updates in the next coming weeks!

Alwin Wong

Alwin is the Growth Manager at Moves and a part-time freelance photographer. With the rise of the gig economy, he is excited by a world where people can have greater flexibility over their work and challenge the norms of having a traditional 9-to-5 job. Alwin is also an avid travel enthusiast and Toronto Raptors basketball fan.

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