Dolly partners with Level to offer cash advances to Helpers and Hands! Level helps independent contractors build businesses on labor marketplaces with a flexible cash advance product. Helpers and Hands have used Level to upgrade trucks, make repairs, and purchase moving supplies. Level looks at your Dolly work history (not a credit score) and repayment is automatically processed from future Dolly earnings.
Level’s cash advance is designed to be flexible and transparent. Every advance has 3 terms:
Cash Advance Value:
The cash advance is the amount that the Helper or Hand receives upfront to fund their business. Level transfers advances via PayPal after confirming eligibility and completing an advance agreement with the receiving Helper or Hand. The application process typically takes less than 24 hours and funds must be used for commercial purposes. Apply by signing up for a call with Level using the link at the end of this article.
The repayment value is the total amount that the Helper or Hand repays over time. Total repayment is the advance value plus a fixed fee. Level’s standard fixed fee is 10% so the standard repayment for a $1,000 advance is $1,100. The total repayment is defined upfront in the advance agreement, does not change, and there are no other fees involved in the advance.
Helpers and Hands repay by contributing a fixed percentage of future Dolly earnings to Level until the repayment value is met. The repayment percentage is defined upfront in the advance agreement and does not change. For example, a Helper that has taken an advance with a 20% repayment percentage and earns $1,000 over a week on Dolly will receive $800 from Dolly, while $200 will go directly to Level. In this example, the Helper will continue contributing 20% of their future Dolly earnings to Level until the repayment value is met.
If you’re interested in learning more, Check out Level’s website.
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