Shopify Capital is a financing program that provides funds to eligible Shopify merchants in the form of cash advances. The program is designed to help merchants grow their businesses by providing them with the capital they need to make strategic investments and take advantage of opportunities as they arise.
To be eligible for Shopify Capital, merchants must have been using Shopify for at least three months and have a good credit history. In addition, they must be based in the United States, Canada, or Australia. Once approved, Shopify Capital will provide funds to the merchant in the form of a cash advance.
PRO TIP: Shopify Capital is a financing program provided by Shopify that gives eligible merchants access to quick and easy financing. However, it is important to note that Shopify Capital is not a traditional line of credit or loan. Instead, it is a cash advance based on your future sales. This means that if you are not able to repay the advance, Shopify will take a percentage of your future sales until the advance is repaid in full. For this reason, it is important to carefully consider whether or not you will be able to repay the advance before taking one out.
The amount of the advance is based on the merchant’s sales history and average order value. For example, a merchant who has averaged $5,000 in sales per month over the past three months and has an average order value of $100 would be eligible for a $10,000 cash advance from Shopify Capital.
Repayment of the advance is automatic and is deducted from the merchant’s daily sales. There are no fixed repayment terms or interest rates, so repayment is flexible and depends on the merchant’s sales volume.
How Does Shopify Capital Work?
Shopify Capital is a financing program that provides funds to eligible Shopify merchants in the form of cash advances.
To be eligible for Shopify Capital, merchants must have been using Shopify for at least three months and have a good credit history.
The amount of the advance is based on the merchant’s sales history and average order value.
Repayment of the advance is automatic and is deducted from the merchant’s daily sales.
10 Related Question Answers Found
Shopify Capital is a financing program that provides qualifying Shopify merchants with cash advances. The cash advance is then repaid with a percentage of your future sales, making it a flexible and affordable financing option for businesses of all sizes. So how does Shopify Capital make money?
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