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Uber Advance Pay Program is just a $1000 Up-Front Offer for New Drivers

Uber Advance Pay Program is just a $1000 Up-Front Offer for New Drivers

What exactly is Uber Advance Pay?

Uber Advance Pay is just a $1000 offer that is up-Front New Drivers

Uber’s Advance Pay program was released in April 2016 as way of supplying brand new rideshare motorists with initial funds ‘up front’, in an effort to greatly help buy them started as they transitioned into becoming active Uber motorists.

Partnering with Clearbanc (a fresh online economic solution startup), Uber provides $1000 to brand new motorists as an interest-free advance loan.

The Uber-Clearbanc deal has one caveat — $250 can be acquired instantly to new candidates, however the staying $750 is ‘unlocked’ after a motorist has finished their very very very first official Uber trip.

Advance Pay was obtainable in Ca and Michigan.

Just exactly How may be the $1000 Repaid?

The $1000 Advance Pay is gradually paid back to Clearbanc and Uber, using a driver’s earnings created by Uber trips.

Even though the ongoing solution is theoretically interest-free, Clearbanc charges a $50 cost in the event that whole $1000 advance isn’t paid down completely within 15 months.