Giggle Finance Review: How It Works and How to Apply

Giggle Finance Review: How It Works and How to Apply

Giggle Finance Review: How It Works and How to Apply

Gig workers, freelancers, and independent contractors often have a hard time accessing lending and other financial services — even though freelancers make up more than one-third of the U.S. workforce. Giggle Finance is working to change that. The company is providing financing opportunities to workers of the gig economy and other small business owners. If you freelance for Fiverr and need to upgrade your computer or own an AirBnB and have to pay a cleaning service, Giggle Finance may be able to help.

In this review, we cover how funding from Giggle Finance works, the pros and cons, and whether or not it’s right for your small business.

What Is Giggle Finance?

Giggle Finance is a financial technology (fintech) company focused on funding workers in the gig economy and other solopreneurs. The financing platform is based out of Miami, Florida and was founded by Jared Kogan and Mike Zevallos, both of whom have former experience in the fintech industry. It provides funding directly to its customers rather than working through a third party.

How Does Giggle Finance Work?

Giggle Finance targets customers that are self-employed 1099 workers or entrepreneurs who are looking for small amounts of funding to help them grow. As a funding provider, Giggle offers what it calls a Giggle Advance, which is a business cash advance (or merchant cash advance). Giggle is willing to lend to borrowers with low personal and business credit scores. (However, it’s a good idea to establish business credit scores to help qualify for other small business loans with potentially lower rates. Start with Nav’s guide on how to establish business credit). You can get up to $10,000 in funding through Giggle Finance (which is usually maxed out at $5,000 for new business owners), so it’s best for gig workers looking for a small loan. 

The application process takes only a few minutes and requires you to connect your bank account securely using Plaid. Then you should get near-instant approval or denial, and the money will be sent right away. You can get the funds through a debit card or a bank transfer.

Your payments to Giggle will get deducted from your bank account automatically based on your future sales. However, keep in mind that business cash advances are notoriously expensive. With a business cash advance, you pay a percentage of each day’s sales using a factor rate, which is a multiplier of the original amount. Giggle’s factor rate usually falls between 1.15 and 1.7. So for example, if you borrow $5,000 and your factor rate is 1.5, you’ll pay back a total of $7,500. This amount will be collected automatically from your future sales.

The exact terms and pricing depend on your agreement with Giggle Finance, so make sure you understand the details fully before you sign up. You may get a discount if you repay early.

Does My Small Business Qualify?

There are many types of small business owners who may qualify for funding from Giggle, like:

  • Uber or Lyft drivers
  • TaskRabbit or workers
  • Fiverr or UpWork freelancers
  • AirBnB owners
  • Small startups
  • Independent contractors
  • Small business owners
  • Ecommerce business owners

To qualify, you must have been operating for at least three months and earn $3,000 or more each month. But Giggle won’t check your credit before deciding on your application, so its funding may still be open to you even if you have poor credit. 

Can I Get a Cash Advance From Giggle Finance as a Contractor?

A contractor is eligible to qualify for a Giggle Advance. Unlike some other personal loan options, its business cash advance requires no credit check and the cost may be lower than payday loans. With a Giggle Advance, all borrowers — independent contractors included — sell part of their future sales back to Giggle in exchange for nearly instant funding. 

Is There a Limit to How Much I Can Qualify For?

You may qualify for up to $10,000 in funding through Giggle Finance, but it’s usually only $5,000 for new business owners who can’t demonstrate strong financials. The exact amount you can get depends on your specific circumstances and eligibility, including factors like your monthly income. Typically, the more you make each month, the more likely you are to be able to get the full amount funded. Giggle considers your ability to repay the entire loan on time when deciding how much funding you will receive.

What Are the Pros and Cons of Getting a Business Cash Advance From Giggle?

How to Apply 

Small business owners can fill out an online application through Giggle’s website — and the entire process takes less than eight minutes. You’ll need to connect your bank account safely during the application process. Giggle uses 256-bit encryption and doesn’t store any of your information.

Before applying, make sure you read through all the product’s disclaimers and understand the payment schedule and terms. Email Giggle at or call 888-820-7580 with any questions.

How Fast Will I Receive My Funds?

Giggle can send funding almost instantly through a bank transfer as soon as your application is accepted — which in itself can happen almost instantly. If you decide you want to use a debit card to receive your funds, it may take longer.

Nav’s Verdict

Giggle Finance could work for a freelancer, member of the gig economy, or small business owner who is looking for a small amount of funding assistance that they can’t get elsewhere. There are many ways to use Giggle funds. For example, a freelancer could hire an assistant while a rideshare driver could cover vehicle maintenance. 

However, it’s important to look around at other funding options that may be available to you since business cash advances tend to be more expensive than some other choices. An alternative is to look for business credit cards — see your best options by signing up with Nav. But if Giggle can help you grow your business and you can’t qualify for less costly choices due to bad credit or a limited time in business, it could be worth looking into Giggle Finance.

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Reviews Disclosure: The responses below are not provided or commissioned by the credit card, financing and service companies that appear on this site. Responses have not been reviewed, approved or otherwise endorsed by the credit card, financing and service companies and it is not their responsibility to ensure all posts and/or questions are answered.

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