Giggle Finance Review: Red Flags No Laughing Matter

Is Giggle Finance legit?

Yes, Giggle Finance is a legitimate fintech startup launched in 2020 by cofounders Jared Kogan and Michael Zevallos. It prioritizes privacy and security, using 256-bit encryption. Your usernames and passwords are never stored, viewed or displayed.

Having said that, customer and third-party reviewers say Giggle is a very expensive form of financing. If you have decent credit, you may want to consider other loans that may be less costly funding options for your business.

What makes Giggle Finance shine?

It can be difficult to get any kind of loan when you’re a gig worker or self-employed. So we can appreciate that Giggle Finance is willing to extend financing, in the form of a merchant cash advance, to those without a more “traditional” income. It’s not the same as a cash advance app, which may also work well if you only need a small loan — instead its a type of business loan.

It’s also a plus that Giggle has no minimum credit requirements, giving even bad-credit gig workers an opportunity to receive financing for their businesses. However, even though it advertises “this will not affect your credit score,” we confirmed via email that there is a hard credit check if you accept your offer.

Where Giggle Finance falls short

One of the biggest drawbacks to Giggle Finance is that it doesn’t reveal its rates either on its site or when directly asked by text or email. The explanation is that it doesn’t charge interest, it’s a fee-based product and the cost depends on the size of the advance, your banking activity and risk profile. Basically, the cost is only revealed after you apply and are presented with an offer — you can’t even get a ballpark range.

Giggle’s communication also seems to be lacking as well, with texting being the primary source of connecting with customer service representatives. In today’s world, that isn’t terribly shocking. It does give out a phone number, but you can’t speak to a person or even leave a message — you’re just instructed to text. Many customers have complained that communication with Giggle is less than ideal, especially if they have a problem.

Giggle Finance product details

Giggle Finance contact info

NOTE: Giggle Finance doesn’t answer its phone or allow you to leave a message. When you call, an automated message tells you that the best way to contact customer service is to text that number, and then you’re disconnected.

How to qualify for Giggle Finance

Here’s what you need to qualify for Giggle Finance:

• Be a business owner, gig worker or self-employed
• Have at least three months in business
• Have a business bank account
• Make at least $3,000 a month in verifiable income
• Be able to make required weekly payments

How to apply

It’s fast and easy to apply for an advance from Giggle.

1. Fill out the online application.
2. Link your bank account for verification.
3. Wait for a decision, usually within minutes.
4. Receive your funds if approved.

You could see funds in your account almost immediately. However, Giggle adds that while funding is typically fast, it can take up to 24 hours.

How Giggle Finance compares to other merchant cash advance options

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Updated regularly

Product USFBL	Finder Score	Min. Amount	Max. Amount	Requirements
Lendio business loans	Finder score 9.6 Excellent	$1,000	$10,000,000	Operate business in US or Canada for 6 months or more, have a business bank account, minimum 520 personal credit score, at least $8,000 in monthly revenue.	Submit one simple application to potentially get offers from a network of over 75 legit business lenders.	Go to siteMore Info Compare	loading Fetching your data...
American Express® Business Line of Credit	Finder score 8 Great	$2,000	$250,000	Minimum FICO score of at least 660 at the time of application, have started your business at least a year ago, and an average monthly revenue of at least $3,000	Access lines of credit for your small business even if you aren't currently an Amex customer.	Go to siteMore Info Compare	loading Fetching your data...
Fundera business loans	Finder score 8.6 Great	$2,500	$5,000,000	$60,000+ of annual revenue, 550+ personal credit score, in business for 6+ months	Get connected with short-term funding, SBA loans, lines of credit and more.	Go to siteMore Info Compare	loading Fetching your data...
SMB Compass	Finder score 8.8 Great	$25,000	$5,000,000	2 years in business, $25,000 monthly revenue, business bank account	Enjoy personalized solutions and a consultative approach for businesses with at least $25,000 in monthly revenue.	Go to site Compare	loading Fetching your data...

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Giggle Finance reviews and complaints

Giggle Finance has an F rating on the BBB and no positive reviews. Negative reviews include rude and threatening customer service texts, taking double payments from bank accounts, taking payments from unauthorized bank accounts and only communicating via text. To date, Giggle Finance hasn’t responded to any complaints on the BBB site, which is somewhat uncharacteristic for a business lender.

Giggle fares a bit better on Trustpilot, with positive reviewers praising the easy application process and fast funding. However, even satisfied customers note that it’s an expensive form of financing and advise borrowers to pay it back early if possible to save money. Negative comments were similar to those posted on the BBB, with a few people adding that they didn’t realize the origination fee was going to be deducted from the loan amount prior to funding.

Frequently asked questions

Who does Giggle Finance report to?

Giggle reports your payments to both TransUnion and Experian, which can help improve your credit score. But it also reports late or missed payments, which can lower your score.

How often are repayments due with Giggle Finance?

Giggle states on its website that you’ll have several repayment options to choose from. But, in a text exchange with Finder, a representative said: “We offer weekly payments and weekly payments only.”