Funding a new business
Year-one realities.
Guide
Funding for gig workers and the self-employed
A driver with $6,000 a month in platform deposits is a business, but most funding products were built for storefronts with payroll. Qualifying is mostly about making the income legible: one account, one entity, one clean story.
What counts as business income
Providers that fund self-employed income look for consistent deposits from platforms or clients into a dedicated business account. 1099 income, platform payout statements, and a Schedule C support it. Personal transfers, refunds, and tips paid in cash do not. The single most useful step is opening a separate business account and routing every platform payout into it for three or more months.
Entity and EIN
A sole proprietor can get an EIN free from the IRS without forming an LLC, which lets you open a business account and be recognized as a business by providers. An LLC adds liability separation and is required by some products. What "EIN-only" claims really mean.
Products that can fit
| Need | Product | Notes |
|---|---|---|
| A vehicle | Equipment financing or an auto loan | The vehicle secures it; the usual route for drivers |
| A short cash gap | Revenue-based products that accept self-employed income; some providers exclude certain states | Compare total cost; payments are daily or weekly |
| Tools, cameras, laptops | Equipment financing; business card | Small amounts; card paid in full is often cheapest |
| Slow-paying freelance clients | Invoice financing (for B2B invoices) | Needs creditworthy business clients |
Platform payout timing
Weekly or instant-payout options change your cash flow but can carry fees. Instant payouts at a percentage fee, used constantly, are a financing cost; add them up before taking on other financing.
What Fast Mula is and isn't. Fast Mula helps you compare business-funding structures and submit one inquiry. Nothing on this site is an offer, approval, guaranteed rate, or guaranteed timeline. Any funding depends on a provider's own review, and terms vary by state.
Common questions
Can a rideshare driver get a business loan?
Vehicle financing is the most accessible; some revenue-based providers fund self-employed income with deposit history, at a cost. Bank term loans generally want an established business with financials.
Do I need an LLC to get funding as a freelancer?
Not always; a sole proprietor with an EIN and a business account can qualify for some products. An LLC broadens options and separates liability.
Related
Provider notes
Which providers publish self-employed products.
Equipment financing
Vehicles and tools.
Soft vs. hard credit checks
Who pulls what, and when.
See which options fit your numbers
Inquiries are not open yet. You can preview the three-minute questionnaire now, and use the calculator and comparisons freely.