There’s simply nothing more exciting than being able to balance your schedule, earn an income your way, and build a business you love. Today, gig and 1099 workers make up a staggering 34 percent of the workforce. That number is projected to grow to 42 percent by 2020. People are transforming the way they work to fit their lifestyle and their goals.

Yet, one area where freelancers and gig workers continue to struggle is having solid access to credit. Simply, lenders don’t see 1099 income as anything more than just hobby pay. But, you’re not just selling a craft you made in your spare time. You’re building a successful business. The simple fact that you’re paying your household bills based on your income – and you are able to live life your way – is proof of your ability to thrive. Why can’t banks see this, too?

What Banks See Isn’t a Full Picture

Here’s what typically happens if a freelancer decides to borrow money. It could be a simple car loan or just a line of credit. Banks and most other lenders base initial decisions on a borrower’s FICO score. This is a numerical figure representing your previous credit usage. It’s only the start of the process, but it weeds out those who may have no experience.

Then, once you get past the FICO component, the big question comes. The lender needs a copy of your paycheck stub, perhaps even your W2. Yet, gig workers and freelancers don’t have these. Even mentioning this can turn most lenders off. You’re denied access to the credit you want and need to transform your financial health. Whether for business or personal needs, being denied because you work hard for yourself is simply not fair.

Your Business Income Justifies Your Creditworthiness

What if your FICO score wasn’t the only information a lender had? More so, what if you could show a lender you have a stable income from your business? Would that change their mind and allow you to obtain the borrowing you need?

If you turn to Oxygen, you’ll gain the access you need. We’re different because we understand the way you work, the way you get paid, and just how effective you manage your money.

What Is Oxygen and How Can We Help You?

Did you know that, in 2017, gig workers earned $1.4 trillion in 1099 income? Does it make sense to turn away all of these income earners because they lack a paycheck stub? Oxygen doesn’t believe so either.

We are a new challenger bank, one focused on serving your needs as a gig worker or freelancer. With highly customized and custom-built functions to meet your needs, Oxygen can provide you with exactly what you need and what you deserve.

Instead of focusing on what you do not have, we ask you to provide us with a connection to your old bank accounts. We’ll analyze the details there – cash flow, good months and bad months. We’ll determine what your typical income and expenses are.

From here, we charge you a flat fee to provide you with access to all of the banking perks you need. There are never overdraft fees. There are no hidden fees. And, we offer zero-interest rate lines of credit.

Whether you write for a living, drive a ride-sharing vehicle, or provide graphic designs from home, Oxygen can help you. We’re a bank and lending service dedicated to meeting your needs.