DoorDash Will Be Matching Loans For Black-Owned Businesses
DoorDash announced initiatives today to help support Black-owned businesses, including highlighting them on their platforms and matching loans to support Black entrepreneurs.
The delivery company said it has seen huge demand for Black-owned businesses in recent months, with a 275 times increase in searches. For that reason, they are launching a new in-app feature on its DoorDash and Caviar services that will highlight independent Black-owned businesses and Black entrepreneurs. These businesses will now come up when you search the phrase "Black owned" and businesses that opt in will have a banner on their pages to make them easily identifiable.
Hundreds of businesses across 30 states have opted into the program to be highlighted. If you're in cities like Washington D.C, Baltimore, Brooklyn, Manhattan, and more, you might also see a carousel at the front of your DoorDash app that will feature various Black-owned businesses that have opted in to the program. If you'd like to opt your business in (or nominate your favorite Black-owned business), you can go here.
"We hope you continue supporting Black-owned restaurants and businesses in your communities. We will continue to use our platform, voice, and resources to make progress together," the company wrote in a blog post.
Additionally, DoorDash announced today that it would be partnering with Kiva, which is described as a "global non-profit whose mission is to expand financial access to help underserved communities thrive" to match loans for Black-owned businesses. U.S.-based Black-owned businesses that opt in to be featured in DoorDash's Black-owned business program and are approved for a loan by Kiva will be eligible for the program. DoorDash will then match that loan by "seeding a revolving loan fund starting at $150,000 with potential to grow the investment in the coming months." All loans given by Kiva are crowdsourced, have a 0 percent interest rate, and no fees.
You can read about the rest of DoorDash's initiatives in its blog post here.
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