Our Take
The bottom line:
Giggle Finance offers small amounts of capital to contractors, self-employed individuals and other small-business owners. Giggle is a standout option for borrowers with bad credit — as the company does not check your credit as part of the application process. Funding is fast, but may be expensive.
Giggle Finance - Merchant cash advance
Max Loan Amount
$10,000
Min. credit score
300
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Pros & Cons
Pros
- No minimum credit score requirement.
- Same-day funding available.
- Offers prepayment discounts.
Cons
- Funding maxes out at $10,000 ($20,000 for repeat customers).
- Charges an origination fee.
- Factor rate and origination fee details not available on website. (NerdWallet collected this information from a company representative.)
- Not available in California, New York or Oregon.
Full Review
Giggle Finance doesn’t provide small-business loans — instead, it offers merchant cash advances. When you get funding from Giggle, you’re selling your future revenue in exchange for an advance of capital. Then, you repay that advance (plus fees) on a weekly basis as a percentage of your incoming revenue. Borrowers can use funds to manage cash flow, purchase inventory and supplies, pay rent and utilities and cover emergency expenses, among other purposes.
❗Nerdy Tip: Merchant cash advances (MCAs) are typically one of the most expensive types of business financing. In general, you should consider all other small-business funding options before an MCA.
Consider Giggle Finance if you:
✔️ Need same-day access to funds.
✔️ Don’t meet the eligibility requirements of other lenders.
✔️ Want a small amount of short-term financing.
How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Giggle Finance features
Giggle Finance offers a merchant cash advance, called the Giggle Advance, in amounts up to $10,000. Here’s what you can expect from the Giggle Advance:
Loan amount | Up to $ 10000 . (Repeat customers in good standing can access up to $20,000). |
Estimated interest rate | Giggle quotes interest as a factor rate; factor rates range from 1.15 to 1.52. Average factor rate is 1.42. |
Fees |
|
Terms | Payments are based on your business’s revenue. You’ll make weekly payments until you repay the full advance amount. |
Repayment schedule | Weekly. |
Funding speed | Approval and funding as fast as the same day. |
Giggle Finance requirements
To qualify for a Giggle Advance, you’ll need to meet the following minimum requirements:
- Time in business:3months.
- Annual revenue: $18000(At least $1,500 per month).
- Credit score: No minimum requirement. Giggle Finance does not check your personal credit as part of the underwriting process. Approval is solely based on your business income and revenue streams.
You’ll also need a business bank account with online access that you can connect to the Giggle platform.
Giggle Finance doesn’t currently fund borrowers in California, New York or Oregon.
Where Giggle Finance stands out
Same-day funding
If speed is a priority, Giggle Finance can provide same-day business financing.
Giggle offers a streamlined application process that it says takes only eight minutes to complete. You’ll provide basic information about your business and connect your bank account to the Giggle platform. Giggle Finance can approve applications almost instantly, showing your approved amount and terms.
Once you agree to the offer, Giggle deposits the funds directly into your business bank account. Usually, funds are available within minutes.
Flexible qualification requirements
Giggle is designed to provide financing for independent contractors, self-employed individuals and similar small-business owners. As a result, the company has much more flexible qualification requirements compared with other business lenders.
You’ll only need
3
months in business and $1,500 per month in revenue to qualify — making this a good option for both startups and businesses that are still growing their revenue.Plus, unlike most small-business lenders, Giggle doesn’t check your credit as part of the application process.
» Explore our lists of best business loans for: bad credit | startups | low revenue
No personal guarantee required
Most lenders require a personal guarantee to secure your business financing. A personal guarantee holds you personally liable for the debt in the event your business can’t pay.
Giggle Finance doesn’t require a personal guarantee — making it a good option if you’re hesitant to put your personal assets at risk. If you start to miss payments, however, Giggle will file a UCC lien on your business. A UCC lien allows the company to claim your business assets to recover its losses if you can’t repay.
Where Giggle Finance falls short
May be expensive
Merchant cash advances, like the Giggle Advance, are often one of the most expensive forms of business financing — with annual percentage rates that can reach triple digits.
Say, for example, you have a $5,000 advance with a factor rate of 1.4. You’re going to repay the advance weekly with 10% of your incoming revenue. This percentage, also called the holdback, typically ranges from 5% to 20%, but varies based on your lender, advance amount and sales volume.
So, if you make $10,000 in monthly sales, you’ll be repaying $233.31 per week. It will take you just over 30 weeks to repay the advance, with an APR of 125.01%. For such a small amount of financing, you’re paying significantly in fees — and the frequent payments can easily impact your cash flow .
Plus, in addition to its standard fees, Giggle charges a 7.25% origination fee. Using the same $5,000 advance example, this means you’d be paying an extra $362.50 to cover that fee.
» Need to convert your factor rate into an APR? Use our MCA calculator here.
Low funding maximum
If you need more than $
10000
in funding (or $20,000 for repeat customers), you’ll have to look for an alternative to Giggle Finance. Plus, keep in mind that not all customers will qualify for the maximum amount.Poor customer service
One of the most common complaints among Giggle Finance reviews online is the company’s lack of customer service. Borrowers say that customer service representatives aren’t responsive and lament that they’re unable to talk to anyone on the phone. When NerdWallet tried calling the number listed on Giggle’s website, an automated message directed us to send them a text instead, and then hung up.
Giggle even states on its website that most of its customer support is done through text and AI technology. Although this may not bother some business owners, it seems most borrowers would prefer to be able to speak to a representative directly, especially in the case of questions or issues.
Alternatives to Giggle Finance
Headway Capital
Headway Capital
Headway Capital - Line of credit
NerdWallet Rating
4.7
Min Credit
625
Read Review
Apply now
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Headway Capital offers business lines of credit up to $
100000
. Like Giggle Finance, this line of credit can be a good option for fast access to working capital. Headway can approve your application in just minutes and issue funding in as little as 24 hours.Although Headway’s qualifications aren’t quite as flexible as Giggle’s, it still can be a good option for startups and borrowers with bad credit. To qualify, you’ll need a minimum credit score of
625
, at least 6
months in business and a minimum of $50000
in annual revenue.And while Headway’s APRs are higher than more traditional lenders, they’ll likely be lower than what you’ll pay for a Giggle Advance. APRs on Headway’s business line of credit range from
35
% to 80
%.SBA microloans
U.S. Small Business Administration
SBA microloan
Min Credit
620
Read Review
Apply now
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If you don’t need financing immediately, an SBA microloan is a more affordable alternative to a Giggle Advance. SBA microloans offer funding up to $
50000
. They have long repayment terms — up to 84
months — and interest rates that generally range from 8
% to 13
%.SBA microloans are designed for traditionally underserved businesses, including startups, borrowers with bad credit and those located in low-income areas. As a result, the qualification requirements are more flexible than other SBA loans (although they’ll vary by lender).
SBA microloans are issued by nonprofit and community lenders. In addition to financing, these lenders usually offer business support services, such as training, mentorship and educational resources.
Apply now
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Frequently Asked Questions
Giggle Finance doesn’t have a minimum credit score requirement. In fact, Giggle doesn’t check your credit as part of the underwriting process; instead, approval is based on your business income and revenue streams.
Once you’re approved, Giggle Finance sends funds to your bank account within minutes.
New elevated offer
