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People also ask
Do Uber drivers qualify for small business loans?
Under the CARES Act, the Small Business Administration (SBA) created new programs to support small businesses, including those who are self-employed, sole proprietors, or independent contractors, meaning most Uber drivers qualify for these loans. To learn more about SBA loans for Uber drivers, visit the Small Business Association website.
Are Lyft drivers eligible for an SBA loan?
Many drivers on the Lyft platform are self-employed or own their own business and may be eligible. These SBA programs are new and still in development, so there is a lot we don鈥檛 know about how the programs will work and details may change.
Can I get an Uber loan with bad credit?
There are multiple loans available for prospective Uber drivers; see the following section for a few options. A bad credit car loan is an auto loan designed for individuals with a relatively low credit score, who might not otherwise qualify.
What is an secured car loan for Uber drivers?
Secured car loans allow you to qualify for relatively low interest rates by using the car as collateral for the loan. Applicants can combine this with a cosigner for a substantially lower interest rate. However, if you miss payments, you may lose the car, which, if you鈥檙e an Uber driver, would result in loss of income.