DoorDash extends cash advance program to Dashers themselves
Ffirst it was the restaurants. Now it’s the Dashers. DoorDash recently launched a limited trial of a new program, from cash advances to delivery people. It’s a bit selfless, though, because it’s technically a 30-day interest-free loan with no fees.
According to the website, loans are repaid either by a percentage of Dasher’s future earnings or by placing a debit card on file. Loan amounts are determined by a Dasher’s income history. Credit is not a factor.
“Dashers who receive email or see in-app details about this pilot are qualified to participate in this pilot,” the site says. Online preliminary reviews by Dashers who have supposedly tried it claim loan amounts as low as $50.
Eligibility is discoverable through the app. “Check your Dasher app to request a cash advance,” the site says. “Select the amount of money you want and choose your repayment method.” Payments begin 7 days after funding.
DoorDash launched its other program, its merchant cash advance program through DoorDash Capital, late last year.
Last modification : July 21, 2022
Category: merchant cash advance