What self-employed income counts
Loanify accepts income from self-employment and gig platforms, including rideshare, food and grocery delivery, freelance and creative work, trades and contracting, and online selling. What matters is that the income is regular, deposited into your bank account and verifiable.
Documents that verify gig and 1099 income
| Document | What it shows |
|---|---|
| 2–3 months of bank statements | Recent, regular deposits (the most useful document for most gig workers) |
| Platform earnings summary | Weekly or monthly earnings from the app's driver or partner dashboard |
| Form 1099-NEC or 1099-K | Annual income paid by clients or platforms |
| Most recent tax return with Schedule C | Net self-employment income after expenses |
| Invoices or client contracts | Ongoing work, useful when income is newly established |
How to average variable income
When your income changes month to month, don't enter your best month. Add up your deposits from the last three to six months and divide by the number of months. If one month was unusually high, such as a one-off project, leave it out or note it.
Example: deposits of $2,650, $3,100, $2,400, $2,900, $2,750 and $3,000 over six months average $2,800 per month. That's the number to use on your application.
Gig workers get approved faster when the deposits tell a clear story. If you move money between several accounts, apply with the account where your platform earnings land.Lending tip from the Loanify Editorial Team
Tips to verify faster
- Use the bank account that receives your platform payouts.
- Download earnings summaries as PDFs rather than screenshots.
- If you're newly self-employed, include your prior W-2 job history and current contracts.
- Choose a payment you could make in your slowest month of the past year.
Ready to check? Review the full Loanify loan requirements or see Loanify personal loans.
Frequently asked questions
Can I get a Loanify loan with only 1099 income?
Yes. Self-employment and 1099 income can qualify if it's regular and verifiable, usually through bank statements and tax documents.
How long do I need to have been self-employed?
There's no fixed minimum, but a longer track record of steady deposits makes approval easier. Recent career changes can be supported with contracts and prior employment history.
More guides
Loanify loan requirements: what lenders check and why
How much can you borrow?
How to get approved for a small loan
About the Loanify Editorial Team
Our guides are researched, written and fact-checked against federal lending rules, CFPB guidance and current loan terms. Every payment example is calculated with the standard amortization formula. Read our editorial policy.