All Questions

What are the terms of agreement?

Our cash advances designed to be easy and simple to understand. For any amount issued, a 2% service fee is included on the total balance and paid weekly over 10 weeks.

For example: If you are issued a $1,000 advance, our service fee would be $20. As such, weekly payments of $102 will be withdrawn over 10 weeks for a total of $1,020. 

For more information, please review our full BCA contract

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How long does it take for me to receive my cash advance?

Once you have been approved and have accepted your cash advance, you can expect to receive the funds in your bank account within 1-3 business days.

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What’s the difference between a Business Cash Advance and a loan?

A personal loan typically has interest rates and origination fees related to borrowing money. Loans with an APR must be expressly stated by the lender. For personal loans, there are consumer protection elements that must be stated as well. Loans can also be used for personal expenses.

With a BCA from Moves, there are no origination fees and no interest rates (that means no APR or AIR).

Instead, we deduct a portion of your future earnings in exchange for the cash advance we provide. The terms of a BCA are covered by a commercial contract (or agreement) between the vendor and the business (the business can be an individual working as a gig worker, freelancer, sole proprietor, or similar). It is advanced in exchange for some portion of future earnings.

A BCA can be used to cover business expenses such as car payments, supplies and equipment, insurance, travel costs, phone bills, and more!

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What are future earnings?

Future earnings (or future gig income) is the anticipated income that you will earn in the future. With a Business Cash Advance, you are receiving a cash advance today in exchange for providing a portion of your future income to Moves.

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What are your interest rates?

Because this is a business cash advance and not a personal loan, there is no interest charged. What we are doing is buying some portion of your future earnings in exchange for issuing you a cash advance today. For example, if we issue you a cash advance of $1,000, we will take back $1,020 of your future earnings ($102/week for 10 weeks). The $20 is your future earnings.

“Money Market or Cash Money? They have a 40% interest rate on their loans. So, Moves is better than them. When a company has low fees, I see them as a good selling point and more people will be attracted to it because of its affordability. So I think that’s why Moves will be a good company for people to get money from.”
– Ali, Uber Driver, Toronto

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What is a Business Cash Advance?

A Business Cash Advance (BCA) is an amount of money that is extended to you in exchange for a promise of your future earnings. It is intended to be used for business expenses.

As a self-employed worker, you can be considered as owning your own business. And as such, you are eligible for a BCA. By agreeing to receive a BCA, Moves would purchase a portion of your future earnings in exchange for issuing you a cash advance today.

For example, if we issue a cash advance of $1,000, Moves will receive $1,020 back of your future earnings ($102/week for 10 weeks). The $20 is your future earnings or receivables. The amount we deduct will be quoted to you before you accept your advance, and your monthly payments will remain the same for the duration of your contract.

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How long is the approval process?

You can typically expect to hear back from a member of the Moves team within 1 business day of submitting your application.

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Can I take out multiple cash advances at once?

At the moment, Moves only allows for customers to have one advance at any given time. If you wish to take out another advance, please settle any current outstanding balances you may have. You can also settle your balance in full by filling out this form.

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How will I receive the money?

The funds will be automatically deposited into your bank account.

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How do I qualify for a cash advance?

In order to qualify for a BCA from Moves, you must meet the following criteria:

  • Must work for a supported gig platform (A list of our supported platforms can be found here)
  • Must have an active bank account
  • Must make on average $100+/week of gig income in the last 4 weeks
  • Customers are limited to one outstanding cash advance at a time
  • Must be a resident of any US state or Canadian province/territory (except Quebec)

Other factors such as your credit card utilization, NSF charges, and average balance also impact our assessment. If you have questions about your eligibility, please email [email protected]

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