Rideshare drivers seeking financing have a few options, depending on their specific business needs. If you need a vehicle quickly, a flexible rental program with low daily pricing and no long-term commitment can keep you on the road without locking you into a contract. If you’re looking for a loan or a credit card instead, priorities usually come down to competitive rates, straightforward terms, and the freedom to pay off what you borrow early without extra fees.
Since a rideshare business carries many types of expenses, I’ve selected funding options that can cover the costs commonly associated with this line of work. Here are my top eight picks for financing your rideshare business:
- Uber Vehicle Marketplace: Best flexible car rental terms for Uber drivers
- Lyft Express Drive: Best affordable car rental rates for frequent Lyft drivers
- Bluevine: Best credit line for short-term expenses
- Lendio: Best for large financing needs
- Clarify Capital: Best for low rates and multiple loan options
- SMB Compass: Best for long-term equipment financing
- LightStream: Best business auto loans for new or used vehicles
- U.S. Bank Triple Cash Rewards Visa® Business Card®: Best for fuel purchases
My knowledge spans five years as a financial professional, working in various roles within the banking industry.
I am committed to delivering expertise-led answers to your small business questions and helping you understand all things business finance.
I ensure that the best answers I provide are based on accuracy, clarity, authority, objectivity, and accessibility. These are aligned with the Fit Small Business Editorial Policy.
Best ways to fund your rideshare business at a glance
Financing type | Maximum loan amount | Estimated starting APR | Minimum credit score | Recommended for full-time, part-time, or seasonal drivers | |
|---|---|---|---|---|---|
 | Car rental | N/A | N/A | None | All |
 | Car rental | N/A | N/A | None | All |
 | Line of credit | $250,000 | 7.8% | 625 | All |
 | Varies | $5 million | 6% | 520 | All |
 | Varies | $5 million | 5% | 500 | All |
 | Equipment loan | $5 million | 5.99% | 600 | All |
 | Auto loan | $100,000 | 6.94% | 660 | Full-time |
 Triple Cash Rewards Visa® Business Card  | Credit card | Varies | 17.74% to 26.74% | Varies | Full-time |
Uber Vehicle Marketplace: Best flexible car rental terms for Uber drivers
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Rates and terms | |
Approval speed | 3 to 10 days |
Rental period options | Hourly and weekly |
Fees | Estimated $250 per week and up |
Maintenance plan provided | Basic maintenance covered |
Insurance/roadside assistance | Insurance and 24/7 roadside assistance provided |
Mileage restrictions | Varies |
Qualifications | |
Minimum age | 21, but may vary by rental company |
Geographic availability | Varies by rental company |
Credit score | None |
Time in business | 1 year of driving experience |
Why I like Uber
While this isn’t an Uber loan program, the Uber Vehicle Marketplace connects both full- and part-time drivers with trusted rental partners offering flexible, short-term options. You can rent a car as needed without committing to a long-term contract or a minimum number of rides, making it a convenient choice for those who want freedom and flexibility. Most rental offers include insurance and basic maintenance, helping lower your out-of-pocket costs.
Uber partners with different rental companies, depending on your city, and each one sets its own eligibility criteria. In most cases, you’ll need to meet the minimum age requirement, which is usually between 21 and 25, depending on the provider, and hold a valid driver’s license.
When picking a rental, keep in mind that your vehicle type can influence the rides you’re eligible for. Larger cars or SUVs are needed for group trips, while newer or higher-end models may qualify you for premium ride categories.
Visit the Uber Vehicle Marketplace website to learn more about qualification requirements and rental options, or to apply as a driver.
Lyft Express Drive: Best affordable car rental rates for frequent Lyft drivers
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Rates and terms | |
Approval speed | 2 to 10 days |
Rental period options | 1-week minimum |
Fees | Varies by location, typically $150 and up per week |
Maintenance plan provided | Yes |
Insurance/roadside assistance | Insurance and roadside assistance provided |
Mileage restrictions | None |
Qualifications | |
Minimum age | 25 |
Geographic availability | Limited; select cities only |
Credit score | None |
Time in business | None (1 year driving experience required for some states) |
Why I like Lyft
Rideshare owners interested in the Lyft platform can rent vehicles through its Express Drive program. Rates can fluctuate depending on your location. However, Lyft offers some of the best rates out of the car rental programs I’ve selected within this guide, making it a top pick for the most affordable car rental rates.
Lyft vehicle financing has partnerships with rental car companies for its Express Drive program, such as Flexdrive and Hertz. It’s suitable for drivers operating on a full-time, part-time, or seasonal basis, as you can rent a car as needed. That said, you will be required to complete 20 to 40 rides per week to keep your rental.
For payment convenience, car rental fees with Lyft Express Drive are deducted from your earnings. If your earnings are insufficient to cover the rental costs, you’ll be charged according to the payment method you’ve designated. You will also have to pay a refundable deposit to rent a vehicle, which will be issued back to you within three weeks of returning the car.
Visit the Lyft website to learn more or to apply for the program.
Bluevine: Best credit line for short-term expenses
 | |
Rates and terms | |
Application speed | 5 minutes |
Approval speed | As fast as 5 minutes |
Funding speed | 24 hours |
Loan amount | Up to $250,000 |
Estimated APR | Starting at 7.8% |
Repayment term | 12 months |
Financing type | Line of credit |
Qualifications | |
Credit score | 625 |
Time in business | 12 months |
Annual revenue | $120,000 |
Why I like Bluevine
For a line of credit, Bluevine tops my list as the best pick for short-term expenses since funds can be drawn on an as-needed basis and repaid over time. This can provide you with flexibility in your finances and can benefit you by covering a wide range of business expenses as they arise.
While Clarify Capital and Lendio also offer business lines of credit, Bluevine stands out for its fast application experience and quick approval and funding. Keep in mind, though, that total borrowing costs can depend on how much you draw and how long you carry a balance. If you borrow less or pay it down sooner, you may reduce what you pay overall.
Generally, you’ll be expected to make weekly payments if you carry a balance on the line, as is deemed by its standard repayment option. A monthly option is also available, but that requires your business to meet stricter eligibility criteria. Still, this is a great financing option for full-time, part-time, and seasonal drivers in the event you need to cover emergencies or recurring expenses.
To learn more, you can read our Bluevine line of credit review. If you’re interested in submitting an application, visit the Bluevine website.
Lendio: Best for large financing needs
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Rates and terms | |
Application speed | 10 minutes |
Approval speed | 24 to 72 hours |
Funding speed |
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Loan amount |
|
Estimated APR |
|
Repayment term |
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Financing type | Term loan, line of credit, equipment financing |
Qualifications | |
Credit score |
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Time in business |
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Revenue |
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Why I like Lendio
I chose Lendio for its ability to finance a wide variety of needs, as it also has some of the highest funding options in this guide. If you’re in need of a larger loan amount and want to compare different types of financing, this could be a great fit when getting started.
As a broker with more than 75 lending partners, Lendio lets you submit a single application to access multiple loan offers at once. This makes it easier to find competitive terms and increases your chances of approval, especially if you’ve struggled to secure funding elsewhere. Qualification criteria can vary depending on the lender and loan type, but options are flexible and often suit a wide variety of credit profiles.
Lendio’s network covers everything, from short-term and term loans to equipment financing and lines of credit, giving you flexibility to match your rideshare business needs, whether you drive full-time, part-time, or seasonally. You can apply online in just a few minutes and quickly see which lenders you may qualify with.
Clarify Capital: Best for low rates & multiple loan options
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Rates and terms | |
Application speed | 2 minutes |
Approval speed | As fast as 24 hours |
Funding speed | As fast as 24 to 48 hours |
Loan amount | Up to $5 million |
Estimated APR |
|
Repayment term | Varies |
Financing type | Term loan, line of credit, and equipment financing |
Qualifications | |
Credit score |
|
Time in business | 6 months but may vary based on loan type |
Revenue | $120,000 annually but may vary |
Why I like Clarify Capital
I chose Clarify Capital based on its low starting rates and variety of funding options that offer some of the best loans for Uber and Lyft drivers. It has some of the lowest starting rates in this roundup for qualified borrowers, and with its numerous loan options, it can be applicable to full-time, part-time, and seasonal rideshare drivers.
As a loan broker similar to Lendio with over 75 lenders in its network, this can be beneficial to you as a borrower because it means you’ll have more chances to get matched with a lender willing to issue you funding. However, one common downside of working with a broker is that you may not know the exact loan terms and eligibility criteria until after you apply.
Fortunately, Clarify Capital offers a quick online application that can show you a variety of loan options within 24 hours, with just a single application. When you work with it, a dedicated loan advisor will help you with this process, saving you time from having to apply to multiple lenders separately. Head over to the Clarify Capital website for more information.
SMB Compass: Best for long-term equipment financing
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Rates and terms | |
Application speed | 5 to 10 minutes |
Approval speed | 24 hours |
Funding speed | 24 to 48 hours |
Loan amount | $25,000 to $5 million |
Estimated APR | 5.99% and up |
Repayment term | Up to 10 years |
Financing type | Equipment financing |
Qualifications | |
Credit score | 600 |
Time in business | 2 year |
Revenue | Varies |
Why I like SMB Compass
SMB Compass is one of the few providers that specifically note financing for rideshare drivers. It’s a strong option if you’re looking for longer repayment terms, and it offers equipment financing with competitive rates and generous loan amounts that rival those from lenders like Lendio and Clarify Capital. For rideshare drivers who want to finance a vehicle purchase, this program may be worth considering.
Equipment loans under $200,000 can often be approved quickly, with funding available in as little as 24 to 48 hours. Larger loan requests typically take seven to fourteen business days, since more documentation and a detailed credit review are required. Depending on your qualifications, you may also be eligible for financing with no down payment.
Beyond equipment loans, SMB Compass offers a range of other business financing options, including business lines of credit, SBA loans, bridge loans, term loans, and asset-based financing. You can learn more or start an application directly on the SMB Compass website.
LightStream: Best business auto loans for new or used vehicles
 | |
Rates and terms | |
Application speed | 10 minutes |
Approval speed | 24 hours |
Funding speed | As soon as same day |
Loan amount | $5,000 to $100,000 |
Estimated APR | 6.24% and up |
Repayment term | 3 to 7 years |
Financing type | New and used cars |
Qualifications | |
Credit score | 660 is recommended |
Time in business | None |
Revenue | Varies |
Why I like LightStream
LightStream is a solid choice for rideshare business owners who want to finance a new or used vehicle. It stands out from other lenders because it specializes in auto loans rather than general equipment financing, making it a great fit for full-time drivers ready to invest in their own car. However, LightStream’s auto loans are designed for borrowers with good to excellent credit, so it’s best suited for those with a strong financial profile.
When reviewing your application, LightStream looks at more than just your credit score. It considers factors such as your overall credit history, the types of accounts you’ve managed, how many accounts carry a balance, and any recent credit applications.
Qualified borrowers may be approved with no down payment, and LightStream doesn’t charge origination fees or prepayment penalties. That means you can save money by paying off your loan early, and you may qualify for a rate discount if you set up automatic payments.
You can apply directly on the LightStream website, where the online application typically takes less than 10 minutes and provides a quick lending decision.
U.S. Bank Triple Cash Rewards Visa® Business Card®: Best for fuel purchases
U.S. Bank Triple Cash Rewards Visa® Business Card
BEST FOR:
Those wanting to earn up to 5% cash back on selected spending categories
- Earn $750 in cash back. Just spend $6,000 on the Account Owner's card in the first 180 days of opening your account.
- Earn 3% cash back on eligible purchases at gas and EV charging stations (transactions of $200 or less)*, office supply stores, cell phone service providers and restaurants (*excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Center when using your card.
- Take control of your card spend with U.S. Bank Spend Management—a game-changing platform for monitoring and managing business expenses.
- No limit on total cash back earned.
- Redeem Cash Rewards right away or save them for later. Cash Rewards do not expire as long as the account remains active.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
- Terms and conditions apply.
Pros
- Offers 0% purchase APR for 12 months
- Charges $0 annual fee
- Has U.S. Bank ExtendPay® Plan feature
Cons
- Has no 0% APR on balance transfers
- Charges balance transfer and foreign transaction fees
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- U.S. Bank ExtendPay® Plan: Pay off your eligible balance over time with this feature without interest — just pay a small monthly fee
- Earn $750 in cash back. Just spend $6,000 on the Account Owner's card in the first 180 days of opening your account.
- Earn 3% cash back on eligible purchases at gas and EV charging stations (transactions of $200 or less)*, office supply stores, cell phone service providers and restaurants (*excludes discount stores/supercenters and wholesale clubs).
- 1% cash back on all other eligible purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Travel Center when using your card.
- Take control of your card spend with U.S. Bank Spend Management—a game-changing platform for monitoring and managing business expenses.
- No limit on total cash back earned.
- Redeem Cash Rewards right away or save them for later. Cash Rewards do not expire as long as the account remains active.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or QuickBooks.
- Terms and conditions apply.
Pros
- Offers 0% purchase APR for 12 months
- Charges $0 annual fee
- Has U.S. Bank ExtendPay® Plan feature
Cons
- Has no 0% APR on balance transfers
- Charges balance transfer and foreign transaction fees
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- U.S. Bank ExtendPay® Plan: Pay off your eligible balance over time with this feature without interest — just pay a small monthly fee
Why I like U.S. Bank Triple Cash Rewards Visa® Business Card®
The U.S. Bank Triple Cash Rewards Visa® Business Card® is a strong choice for full-time rideshare drivers who want to save on day-to-day operating costs. The cash back structure directly targets the most common expense drivers face, making it an easy way to lower your overall business costs while earning rewards on every purchase.
You’ll earn 1% cash back on all eligible purchases, but several high-value categories offer greater rewards that add up quickly for drivers:
- 3% cash back at gas stations and EV charging stations: Ideal for Uber and Lyft drivers who spend heavily on fuel or charge-ups each week. This rate can noticeably cut your monthly fuel bill.
- 3% cash back at restaurants, office supply stores, and cell phone service providers: Helpful if you regularly grab meals on the go, use office supply stores for business essentials, or rely on your mobile phone for navigation and ride coordination.
- 5% cash back on prepaid hotels and car rentals booked directly through the Travel Rewards Center: A great perk if you drive in different cities or need short-term rentals during vehicle maintenance or downtime.
The card has no annual fee, which means you keep all your rewards. As an added bonus, you’ll also receive protections like car rental insurance, purchase protection, and extended warranty coverage on eligible items. Together, these benefits make this card a smart, low-cost way to manage everyday spending and keep more money in your pocket while operating your rideshare business.
How I chose the best loans for funding a rideshare business
I compared car rentals, term loans, lines of credit, and credit cards, then narrowed the list using criteria that reflect what matters most to rideshare drivers: cost, flexibility, and how quickly you can get on the road or access funds.
For car rentals
For rental options, I looked at the minimum rental period to see how flexible each program is for short- or long-term use. I also compared the fees charged for car rentals, including weekly pricing and potential add-on costs, and reviewed the mileage allowance to confirm whether drivers get unlimited miles or face usage limits. Finally, I considered what support is included, such as maintenance, insurance, and roadside assistance, since bundled coverage can reduce unexpected out-of-pocket expenses.
For loans and credit
For loans, lines of credit, and credit cards, I compared interest rates and fees to find options with competitive overall costs. I also evaluated loan terms, including repayment length and flexibility, and weighed qualification requirements like credit score expectations, income, and experience.
Since timing matters, I factored in the speed of the application, approval, and funding process. To round it out, I looked at customer reviews and assessed how suitable each option is for full-time, part-time, and seasonal drivers, especially for those with fluctuating income.
Rideshare expenses you should consider
Rideshare businesses commonly have more expenses to consider than simply acquiring a vehicle. To ensure that you don’t run into any issues down the line, here are some other potential costs for you to keep in mind:
- Auto loan or rental fees
- Meals (including drinks and snacks for passengers)
- Fuel
- Phone service
- Car repairs and maintenance
- Auto insurance and premiums
- Rideshare insurance
- Roadside assistance
- Car wash and detailing services
- Emergency funding
How to qualify for a business loan
If you choose to pursue a business loan to finance your ridesharing business, there are a few qualifications you’ll need to consider to ensure your eligibility. The criteria required can vary based on the loan type and lender; however, it’s best to meet the minimum requirements to better your odds of approval.
The most common criteria considered on a loan application are as follows:
- Credit score: Most lenders will want to see a strong credit score before issuing financing. Generally, a credit score of 600 and above will give you better odds of approval. However, you’ll still have plenty of loan options with bad credit if your score is less than ideal.
- Revenue: To ensure you can repay the loan, lenders often have a minimum annual revenue requirement to help mitigate risk in the event of default.
- Down payment: Depending on the type of loan or lender, some loans have a minimum down payment requirement that can range anywhere from 10% to 20%. This is most commonly required for new car loans, but you may be able to negotiate loan terms.
- Time in business: To further mitigate risk, lenders will also consider how long you’ve been in business. This ensures you have the means and credibility to repay the loan in the event of default.
Alternatives to Uber & Lyft loans for drivers
In the event you don’t qualify for the options above, or they simply don’t meet your rideshare business needs, there are a few alternatives that you can consider:
- Equipment financing: Whether it be via a loan or lease, equipment financing can help you acquire a vehicle or other form of equipment for your business. Depending on your business needs, you can purchase the asset and assume ownership at the end of the loan term or opt for a lease if you only need the asset for a certain period. For our top picks, check out our roundup of the best equipment financing companies.
- Cash advance: Rideshare drivers can access quick cash advances through online services designed for gig workers. These platforms often provide fast approval with flexible eligibility based on driving income or work history, allowing drivers to cover short-term expenses without waiting for their next payout.
- Personal loan: If you don’t qualify for a small business loan but have good personal credit, you may be eligible for a personal loan. Generally, there are few or no restrictions as to how you can use the funds, so you can use loan proceeds to finance your business if you are otherwise unable to obtain business financing. See our list of the best personal loans for business funding for options.
- Home Equity Line of Credit (HELOC): This is a personal line of credit based on the value of your owned home. As a revolving credit facility, it can be used to pay business expenses on an as-needed basis, where the balance can be repaid over time. Funds have limited restrictions and can be requested via a draw, where the lender will place the funds into your account of choice. To learn more, read our guide on using a HELOC for business.
Frequently asked questions (FAQs)
Uber doesn’t offer traditional financing or direct loans for drivers. Instead, it provides options like the Uber Vehicle Marketplace, where eligible drivers can connect with third-party partners to rent or access a vehicle for rideshare driving. If you want funding beyond a vehicle, you can still apply for business loans or credit cards from outside lenders, as long as you meet that lender’s qualification requirements.
Yes. However, you’ll have to rent one through a provider associated with the rideshare platform you use. Depending on the rideshare service you choose, programs like Uber Marketplace and Lyft Express Drive allow you to rent a vehicle and partake in rideshare operations.
In most cases, no. While some SBA programs previously extended funding to rideshare drivers, those options are no longer available for ridesharing businesses. Today, drivers who need financing typically have to look beyond the SBA and explore alternatives like traditional banks, online lenders, or other non-SBA loan options.
While Lyft itself does not offer loans for Lyft drivers, rideshare drivers may be eligible for various types of financing, including rideshare loans. While qualification criteria will vary per lender, generally, providers will determine your creditworthiness as a borrower and review items such as credit score, income, and time in business.
Bottom line
If you drive for a rideshare service and need funding to grow or steady your business, you have more than one path when it comes to funding. From vehicle rental programs to small business loans and lines of credit, the best fit comes down to what you’re trying to finance, whether that’s getting a car, keeping up with repairs, or covering day-to-day operating costs.