Exclusive Offer for Independent Workers 

The last 10 years has changed the work landscape in Canada. In 2016, Statistics Canada counted over 1.2 million individuals in the "gig” economy and the numbers are rising each year. With more and more people leaving the 9-5 behind in favour of working independently, the gig opportunity does come with its advantages and disadvantages.

The main benefit of gig work is the flexibility in allowing you to work at your convenience. You can work where you like and the hours you want. It provides greater independence with a lower barrier to entry which in many cases does not require any previous work experience. 

There are Financial Hurdles for Gig Workers

Due to the lack of consistency in earnings from the gig economy, it can be difficult for independent workers to access funds in case of emergency. A traditional lender typically looks for two qualities in loan applicants: a reliable source of income and a good credit score.

Even with earnings comparable to regional statistics, gig workers face difficulties in convincing lenders of steady income when receiving fluctuating paystubs from multiple sources. The initial difficulties in accessing credit can also compound, leaving gig workers without real means to improve their credit scores. Consequently, this leaves minimal options for gig workers and forces them to seek expensive payday loans to cover unexpected expenses.

A new fintech startup Moves has emerged with fair and affordable loans for gig workers. At this time, Moves exclusively serves contingent gig workers who make their earnings from rideshare and food delivery apps in Ontario; however, they are looking to expand to include more independent workers across North America.

No Credit Check With Moves 

Unlike traditional lenders, Moves does not require a credit score and does not report to the credit bureaus. Instead, they evaluate an individual’s ability to repay the loan based on earnings from gig jobs. 

Currently, Moves is offering loans of $500 to Ontario based rideshare drivers and food couriers who have received income from DoorDash, Foodora, FaceDrive, Hiride, Instacart, Lyft, Skip the Dishes, Uber, or Uber Eats in the last 90 days.

This unique credit offering is optimized for the flexibility demanded by the gig economy. We tested the application - the process is easy, short and straightforward to request a loan. Applicants are approved in as little as 15 minutes and funds arrive within 48 hours.

The best part here if you’re a gig worker, interest payments and fees are kept affordable with small weekly payments - allowing you the ease of repaying your loan. For a $500 loan - you would make payments of $43/week for 12 weeks for a total repayment of $516.