Quick Start Guide: Business Cash Advances

To be eligible for a Cash Advance, you will first need to link your gig deposits to your Moves Spending account. Once you have deposited a minimum amount of $100 in gig deposits within a 28 day time-frame, you will begin to qualify for a Cash Advance. 

You are only able to have one Cash Advance at a time. You are able to repay your Cash Advance at any time, without penalty. Once your final payment has been processed, you can request your next Cash Advance after 5 days. 

Cash Advance FAQ:

How can I get a bigger Cash Advance?

Our real-time assessments will automatically adjust members’ eligibility to determine their highest qualified Cash Advance amount up to 100% of their average weekly gig deposits.

Moves looks at your gig income deposits to determine your Cash Advance eligibility. The more gig income you deposit, the quicker you will see your Cash Advance increase. 

However, a strong repayment history and healthy overall account status will also be taken into consideration for higher Cash Advance amounts as you build your reputation with Moves.

How do repayments work?

Payments for your Cash Advance will automatically be withdrawn every 7 days from your Moves Spending Account, starting one week from the day you receive your funds. Payments will continue, for up to 10 weeks, or until the entire balance is repaid.

If you want to get ahead of your payments, pay off your entire Cash Advance, or just catch up, you can use the Pay Early button in the Cash tab by clicking here. To find the Pay Early button in the Moves app:

  1. Navigate to your Cash Advance from the “Cash” tab on the Moves app
  2. Kindly take note of the dark button that says “Pay Early”
  3. Click on the button and follow the prompts to set up your payment. You will receive a confirmation email shortly after
  4. Our team will process the payment within 1 business day
When fully repaying your Cash Advance, you will be able to request your next Cash Advance after 5 days of the payoff date.
What is the cost of a Cash Advance?
All Business Cash Advances from Moves have a 5% service fee cost associated. This service fee is automatically added to your weekly payments, which are quoted to you before you accept your Advance, so you never have to worry about surprise charges.  

Next: The Moves Collective  

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