DoorDash Offering Merchant Cash Advance

DoorDash Now Offering Cash Advances To Restaurants - Food On Demand

COVID-19 made more restaurants partner with third-party delivery companies like GrubHub, UberEats, or DoorDash. DoorDash is extending its services to offer a merchant cash advance. This article will tell you more about this new offering and help you with a reliable and cheap MCA. 

DoorDash Offering a Merchant Cash Advance (MCA)

DoorDash, Inc., an American company operating an online food ordering and food delivery platform, has entered the world of merchant cash advances. In cooperation with fintech firm Parafin to launch DoorDash Capital, DoorDash offers restaurants convenient access to financing. 

What is an MCA? This is a type of funding (not a loan) that you can receive based on your potential future sales. There is no need to provide collateral or personal guarantees. Technically, this type of financing isn’t subject to federal oversight, and there’s no benefit for paying an MCA off early. The interest is high, but the financing is quick. 

DoorDash’s MCA: How It Works

DoorDash has recently launched its service called DoorDash Capital. It provides cash advances to partner restaurants and other small businesses. Such financing can help restaurants pay for business expenses, including payroll, equipment purchases, rent, hiring, and marketing.

The repayment schedule is based on performance. Specifically, DoorDash will automatically charge a portion of a restaurant’s sales made on the platform. Restaurant owners can customize the repayment terms. This refers to the amount advanced, repayment duration, and repayment percentage. The borrowers will be required to pay a single fee to access capital. 

If DoorDash isn’t the best solution for your financial needs, there is more than one alternative to use. For example, you can turn to a reputable alternative online lender that guarantees the most secure terms and the cheapest possible rates and fees for a merchant cash advance in the U.S. Make sure the offered services are among the most advanced and the application process is quick and hassle-free. 

DoorDash, Inc. Offers a Business Cash Advance

DoorDash has become the first delivery provider to start providing MCAs as the company has decided to extend its services. If you need an alternative MCA provider, apply to a respectful online lender in the U.S.

Author Bio: Michael Hollis is a Detroit native who has helped hundreds of business owners with their merchant cash advance solutions. He’s experimented with various occupations: computer programming, dog training, accounting… But his favorite is the one he’s now doing — providing business funding for hard-working business owners across the country.

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