Pennie Is Rewriting the Rules of Lending for Gig Workers and Freelancers

[tradelikepro]

The gig economy has reshaped how millions of Americans earn a living — but traditional lending hasn’t kept pace. Enter Pennie, an income-focused loan marketplace designed specifically for borrowers whose earnings don’t fit the W-2 mold.

Today, more than 36% of U.S. workers earn income through freelancing, gig platforms, consulting, or self-employment. Yet when they apply for loans, many are flagged as “high risk” simply because their income arrives via 1099 forms or fluctuates month to month.

Traditional lenders often require steady paychecks, long employment histories, and predictable documentation. For freelancers earning $80,000 across multiple clients, that can mean rejection — even if they earn more than a traditional employee.

Pennie flips that model.

“The way people work has changed, but lending hasn’t kept up,” said Sam Mkhitaryan, Co-founder of Pennie. “We built a platform that looks at what you actually earn, not how you earn it.”

Pennie connects borrowers to lending partners that evaluate:

Self-employment and freelance income (1099)

Gig platform earnings (rideshare, delivery, task-based work)

Contract and consulting income

W-2 employment

Social Security and disability benefits

Retirement, pension, and rental income

The focus is consistent, verifiable earning power — not employment labels.

[mendez]

“we built a platform that looks at what you actually earn” translation we found a new way to price risk