Today, Bluevine is proud to announce a partnership with Lyft to provide drivers with educational resources and a digital Paycheck Protection Program (PPP) loan application built specifically for them.
During the first round of PPP, many members of Lyft’s driver community were eligible and interested in PPP loans, but were met with a complex and difficult application process. Despite the need and qualification, drivers often struggled or didn’t apply to receive the government relief funds. Many drivers saw their earnings impacted as rider demand dropped during the pandemic with people being asked to stay at home and close to their communities. Bluevine was able to step in to help provide an easy-to-use PPP application to Lyft drivers.
Bluevine’s commitment to serving the smallest of businesses was the driving force behind this partnership; in 2020, our average PPP loan size was only 27% of the national average. Our flexible technology stack gives us the agility to adapt quickly to any Small Business Administration (SBA) changes and streamline the application process for drivers, making Bluevine the perfect partner for Lyft’s effort.
Bluevine worked with Lyft to identify and address the major hurdles drivers faced during the first round of the PPP loan application process. Our partnership focuses on pre-empting common challenges and educating drivers on PPP eligibility, process and key considerations such as preferred documentation. In addition, we updated our application processing flow specifically for Lyft drivers to ensure a simple and efficient experience.
Working with Lyft to support the driver community is the latest example of Bluevine’s commitment to serving the very smallest and most in-need businesses. For Lyft drivers interested in applying for PPP, please learn more at https://www.bluevine.com/lyft-ppp.