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A gig worker is someone who works on a short-term or temporary basis as a contractor, or who takes on project-based jobs. Rather than being permanently employed, gig workers might take on secondary roles or work this way as their main form of income. This could include delivery drivers, temporary supply teachers, self-employed tradespeople, taxi drivers, carers and more.
Gig workers also include those on zero-hour contracts, who are under contract as employees, but their salary or working hours aren’t guaranteed. They’re only paid for the hours they work.
As a temporary, part-time or contract worker you could still find a personal or short-term loan despite having an irregular or unpredictable income. Unlike traditional employees, gig workers don't usually have regular pay slips, so lenders might request alternative documentation, such as bank statements, payment histories from gig platforms (like Uber, Deliveroo, or Fiverr) and a self-assessment tax return. A good credit score can help, and some lenders offering gig worker loans may take your overall circumstances into consideration, too (like we do at Creditspring!).
Part-time workers can often face challenges when applying for loans due to their often irregular income compared to full-time employees. However, lenders will typically assess your income, employment history and credit score - and some may require proof of additional income sources, such as government benefits or side jobs, to ensure you can meet repayment obligations. If you have a stable income, a good credit history and meet the lender’s criteria, you may qualify for a loan.
If you’re a self-employed gig worker, you might be wondering if self-employed loans are available. Being self-employed, you may find it harder to secure loans because your income is variable and may be harder to verify. This means lenders will often require proof of income over the past 1-3 years. This might include tax returns, bank statements and proof of consistent client payments or invoices. Finding a self-employed loan isn’t impossible. Having a solid credit history and a well-managed business may improve your chances of being approved.
While we might refer to ‘gig worker loans’, ultimately, they are simply a type of personal or short-term loan that a gig worker could apply for. For example, a carer could be looking for a carer’s loan or a key worker may search for a key worker loan. Typical 'gig worker loans' that people look for include:
Loans for carers
Loans for care workers
Teacher loans
Taxi driver loans
Key worker loans
There are a number of specialist lenders that provide loans for workers with bad credit, but it’s important to do some careful and thorough research before you start applying to them. Many of these lenders will have specific repayment terms and conditions, and many of their loan products will come with a high interest rate. This is because an applicant with a poor credit history is usually considered a high-risk borrower. This doesn’t mean getting a loan is impossible. However, it does mean you should consider every option carefully, be certain that you can afford to repay the loan on time and only borrow from lenders authorised and regulated by the Financial Conduct Authority.
There are plenty of ways to strengthen your loan eligibility. Building and maintaining a good credit score by consistently paying your bills, credit cards and existing loans on time is one of the most effective ways to do this. Keep your credit card balances low and pay off outstanding debts, too. A lower credit utilisation ratio (the amount of credit you’re using compared to your credit limit) can positively impact your credit score. Don’t forget to regularly review your credit report to ensure there are no errors or inaccuracies and dispute any incorrect information that could harm your score.
Yes, we offer loans that gig workers can apply for. You’ll have to meet our standard eligibility criteria; this includes being a UK resident aged 18 years or above and having a consistent income. Chek your eligibility* for a Creditspring loan now.
When it comes to financing, gig workers in the UK must navigate unique legal considerations that differ from those of traditional employees. Gig workers are considered self-employed, which means they do not have access to typical employment rights that salary employees have under UK law, such as statutory sick pay, paid holiday leave, or minimum wage protections (though rulings like the 2021 Supreme Court decision regarding Uber drivers have challenged this in some cases, granting more rights to some gig workers). Employment status can impact access to financial products like loans and mortgages, as lenders may view self-employed individuals as higher-risk borrowers due to inconsistent income and job security.
When applying for loans or other forms of credit, gig workers may need to provide extensive documentation, including a longer history of earnings, tax returns (over two to three years). Unlike salaried employees, whose earnings are predictable, gig workers often have variable income, which can make it difficult to meet the affordability checks lenders run under the UK’s Financial Conduct Authority (FCA) regulations. Additionally, lenders may consider factors such as the worker’s platform (Uber, Deliveroo, etc.), how long they've been working in the gig economy, and whether they have multiple income streams to mitigate the risk.
Another legal consideration is the terms of the contracts with the lenders. As gig workers are often not guaranteed a minimum number of hours or earnings, these fluctuating earnings can affect loan repayments. Missed payments could lead to legal repercussions such as fines, penalties, or damage to their credit rating. In extreme cases, this can result in default, which could lead to legal action by creditors. Understanding the legal terms of their platform contracts is crucial for gig workers when planning their finances.
Recent legal developments, such as the Supreme Court ruling on Uber in 2021, have led to some gig workers being reclassified as "workers," entitling them to minimum wage and holiday pay. This shift could potentially make lenders more willing to offer loans to gig workers in the future. Gig workers should stay informed about changes in employment law and the potential impact on their financing options. Consulting a financial advisor or legal expert familiar with gig economy regulations and the FCA’s lending guidelines can ensure that gig workers are well-equipped to manage their finances and avoid potential pitfalls when seeking loans or other financial products.
The £500 Carer’s Allowance is a government-funded grant provided by some local councils or organisations in the UK to assist unpaid carers. If you care for someone at least 35 hours a week, and they get certain benefits, you may qualify.
The grant is designed to provide a one-off payment to help carers cover additional costs related to their role, such as respite care, equipment, or wellbeing activities. You don’t have to be a relative or live with the person you care for, though you only get one allowance even if you care for more than one person. Carers can apply for the grant through their local authority or relevant charity.
Carers in the UK are eligible for a range of free support and benefits. This can include access to the Carer’s Allowance, discounts on transport through schemes like the Disabled Person’s Railcard, and access to free or discounted training and support services. Many carers can also receive a Carer’s Assessment from their local council, which might lead to further financial or practical support, such as free equipment or services to assist in their caregiving duties. Some carers can access free respite care to take breaks from their responsibilities, depending on their eligibility and circumstances.
This depends on your lender, but the process might be more challenging compared to traditional employees, owing to having an irregular income. Lenders may consider you a high-risk borrower, and as such, the approval criteria may be stricter, requiring higher interest rates, a longer history of income, or other forms of collateral. Some lenders and financial institutions have started to accommodate gig workers by offering tailored refinancing solutions, but you should be prepared to provide extensive proof of income and financial stability to improve your chances of success.
Lenders assess the risk of lending to gig workers by evaluating several factors, including the worker’s income, work history, and credit score. Since gig workers often have fluctuating earnings, lenders may request longer income history to ensure the worker has consistent earnings over time. They may also consider whether the worker has multiple income streams or only relies on a single gig platform. Gig workers may face higher interest rates or be required to provide additional documentation or collateral, as lenders perceive them to be higher-risk borrowers due to their irregular income patterns.
