Question 1

What is a merchant cash advance and how does it work?

Accepted Answer

A merchant cash advance (MCA) is a type of funding solution allowing self-employed business owners and gig workers to receive a lump sum payment in exchange for a percentage of their future receivables. The approved amount is dependent on each company's specific needs, as well as consistency of revenue and account balances.

Question 2

How is a merchant cash advance different from a traditional loan?

Accepted Answer

In contrast to a traditional bank loan, a merchant cash advance does not require economic collateral or fixed monthly payments in order to secure approval. Due to the nature of how repayments work, MCAs are considered flexible alternatives for gig workers who may find it difficult to secure traditional loans. Further, gig workers can receive their funding within 1-2 days, which is perfect for dealing with funding emergencies, purchasing new supplies, or fulfilling customer orders, among others.

Question 3

Who is eligible for a merchant cash advance at Cashera?

Accepted Answer

Independent contractors and sole proprietors such as gig workers, freelancers, micro businesses and owners/operators (i.e. – Lyft and Uber drivers) can take advantage of Cashera's merchant cash advance program by applying today.

Question 4

How much can I borrow with a merchant cash advance?

Accepted Answer

The maximum borrowing amount Cashera offers to gig workers and small businesses is $5,000 dollars. Typically, companies borrow within that limit to fund various financial goals, or deal with emergencies. The approved amount depends on the consistency of recurring sales deposits, plus banking history.

Question 5

What are the repayment terms for a merchant cash advance?

Accepted Answer

The repayment amount for borrowed funds is typically determined by an agreed-upon percentage, which can vary based on the requested amount. Cashera takes note of a company's recurring sales and banking history before making a final determination on scheduling of repayments. Our goal is to create a repayment structure that is both convenient, and mutually beneficial.

Question 6

How long does it take to get approval on an application?

Accepted Answer

Cashera processes each application quickly in order to approve and deliver funding to gig workers and small businesses. We recognize the need to operate within tight timelines, which is why we strive to release funding within 1-2 business days.

Question 7

How does Cashera compare to DoorDash Capital?

Accepted Answer

DoorDash Capital is only available to active Dashers on the DoorDash platform, while Cashera serves gig workers across all platforms including Uber, Lyft, Instacart, Amazon Flex, Grubhub, and more. Cashera offers up to $5,000 in funding regardless of which gig platform you use, and approval is based on your overall banking history rather than activity on a single app.

Question 8

Is Cashera better than Uber's Instant Pay or Lyft's Express Pay?

Accepted Answer

Uber Instant Pay and Lyft Express Pay allow you to cash out your existing earnings early, but they do not provide additional funding beyond what you have already earned. Cashera offers a merchant cash advance of up to $5,000, giving you access to capital beyond your current balance. This makes Cashera a better fit when you need funds for vehicle repairs, insurance, or other business expenses that exceed your available earnings.

Question 9

What makes Cashera different from a payday loan?

Accepted Answer

Payday loans typically require a credit check, charge high interest rates, and demand fixed repayment on a set date. Cashera's merchant cash advance works differently. Approval is based on your earnings rather than credit score alone, there is no fixed monthly payment, and repayment is structured around your actual sales deposits. This means your repayment adjusts with your income, making it a more flexible option for gig workers with variable earnings.

Question 10

Can I use Cashera if I already use Earnin, Dave, or other cash advance apps?

Accepted Answer

Yes. Apps like Earnin and Dave offer small advances (usually $100 to $500) against your next paycheck. Cashera provides merchant cash advances of up to $5,000 designed for self-employed workers and independent contractors. You can use Cashera alongside other apps since it is a separate funding product based on your business revenue, not your employment status.

Question 11

Can Uber drivers get fast loans?

Accepted Answer

Traditional lenders rarely approve Uber drivers because gig income is inconsistent and lacks W-2 documentation. However, merchant cash advances are a practical alternative specifically designed for gig workers. With a provider like Cashera Capital, Uber drivers can apply online and receive up to $5,000 within 1 to 2 business days with fast, earnings-based approval.

Question 12

Are there personal loans available for self-employed workers?

Accepted Answer

Most banks deny personal loan applications from self-employed workers due to irregular income and lack of traditional pay stubs. Merchant cash advances are the fastest alternative, offering funding based on your actual bank deposits rather than credit scores or W-2 forms. Cashera Capital specializes in funding self-employed professionals including freelancers, consultants, and sole proprietors.

Question 13

What is the fastest loan alternative for Lyft drivers?

Accepted Answer

Lyft drivers looking for fast funding should consider merchant cash advances instead of traditional loans. An MCA uses underwriting designed for business cash flow, offers flexible repayment tied to your actual income, and can deliver funds within 1 to 2 business days. Cashera Capital is built specifically for rideshare drivers and gig workers.

Question 14

How is a merchant cash advance different from a personal loan?

Accepted Answer

A personal loan is a traditional credit product that requires a credit check, fixed monthly payments, and often collateral. A merchant cash advance is a purchase of your future receivables, meaning you receive funding upfront and repay through a flexible percentage of your future earnings. MCAs may use a soft credit inquiry, are approved faster, and adjust repayment to your actual income, making them ideal for gig workers and self-employed professionals.

Question 15

Is a merchant cash advance a loan?

Accepted Answer

No. A merchant cash advance is not a loan. Cashera purchases a small percentage of your future receivables in exchange for an upfront lump sum. There are no fixed monthly payments and repayment naturally flexes with your earnings.

Question 16

How fast will I receive my funds after approval?

Accepted Answer

Approved funds are typically delivered to your connected bank account within 24 hours via ACH transfer. Many applicants receive a funding decision within minutes of submitting their application.

Question 17

What is the maximum funding amount I can receive?

Accepted Answer

Cashera Capital offers up to $5,000 in merchant cash advance funding. The exact approved amount depends on your earnings consistency and bank deposit history.

Question 18

What documents do I need to apply?

Accepted Answer

You need a valid US bank account (connected via Plaid for read-only deposit verification) and a government-issued photo ID such as a driver's license or state ID. The entire application takes under 10 minutes.

Question 19

Will applying affect my credit score?

Accepted Answer

No. Cashera performs a soft credit pull during application, which does not affect your credit score. Repayment activity is also not reported to credit bureaus.

Question 20

Are there any prepayment penalties?

Accepted Answer

No. You can repay your merchant cash advance early at any time with no prepayment penalty.

Question 21

Which gig platforms does Cashera support?

Accepted Answer

Cashera supports drivers and workers across all major US gig platforms including Uber, Lyft, DoorDash, Instacart, Amazon Flex, Grubhub, Shipt, and Spark. Eligibility is based on your bank deposit history rather than the specific platform.

Question 22

Can W-2 employees qualify for Cashera funding?

Accepted Answer

No. Cashera is designed for self-employed workers, 1099 contractors, and gig workers. W-2-only earners do not qualify because the product is structured around business receivables rather than wages.

Question 23

What is a factor rate?

Accepted Answer

A factor rate is a fixed multiplier (typically between 1.10 and 1.50) applied to your advance to determine total repayment. For example, a $1,000 advance at a 1.20 factor rate means you repay a total of $1,200. Cashera discloses the full repayment amount upfront so there are no surprises.

Question 24

How does repayment work day to day?

Accepted Answer

Repayment happens automatically via ACH. A small fixed percentage of your daily or weekly bank deposits is withheld until the advance is fully repaid. Because it is a percentage rather than a fixed dollar amount, repayment naturally flexes with your earnings.

Question 25

Is my data safe? Do you store my bank login?

Accepted Answer

Cashera never stores your bank credentials. Bank verification is handled by Plaid, which provides read-only access to your deposit history. All data is transmitted using TLS encryption. Cashera operates as a lead-generation and origination platform, so customer data is not retained long-term.

Question 26

Can I apply if I just started gig work?

Accepted Answer

Generally you need at least 6 months of business or gig activity and at least $2,000 in monthly bank deposits to qualify. Newer self-employed workers below those thresholds will be auto-declined.

Feature	Cashera MCA	Personal Loan	Payday Loan	Earnin / Dave
Max amount	$5,000	Varies	$500-$1,500	$100-$500
Decision speed	Minutes	Days	Same day	Minutes
Funding speed	< 24 hours	1-7 days	Same day	1-3 days
Earnings-based approval
Fixed monthly payment
Repayment flexes with income
Built for self-employed / gig

Frequently asked questions

Cashera vs Other Funding Options

Still have questions?

Ready when you are