By Brooke Thomson

February 15, 2022

DoorDash is committed to ensuring that local businesses thrive and continue to grow to their fullest potential.  To that end, they are adapting their services and offerings to meet merhant needs.   One key area where merchants have asked for support is quick and easy access to capital.  In response, last week DoorDash introduced DoorDash Capital, a new merchant service that provides fair and convenient access to financing for eligible merchants.

Small local businesses often struggle to gain access to much needed capital and loans to grow their business. Through DoorDash Capital, merchants with a proven track record on DoorDash can now access revenue-based financing to power growth, operate their day-to-day business with additional cash flow and invest in the long-term.

At launch, DoorDash is working with Parafin, an embedded fintech company, to offer revenue-based financing to eligible merchants.

Here’s how it works:

• Eligible merchant partners on DoorDash will soon see a pre-approved advance amount in their Merchant Portal under the “financing tab.”
• If a merchant accepts the offer from Parafin, they can receive the funds in their bank account in as little as 1-2 business days. Accepting the offer is simple and no additional paperwork is required. Accepting an offer also has no impact on a credit score.
• Merchants will pay a one-time fee, paid over the duration of the advance. There are no hidden charges, no recurring interest, and no prepayment penalty.
• Repayment is simple and automated, based on a percentage of DoorDash sales.

Learn more here.

We are excited to get the word about this new program to busines across Massachusetts!