WARNING FOR SHOPIFY CAPITAL USERS

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Tourist
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Well, I don't recommend speculating about Shopify's financial circumstances,  but I would criticize their management judgement in getting involved with this third party monstrosity.

 

 Someone needs to be fired and this blight removed from the Shopify community.

 

Where is the president of Shopify on this?

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Tourist
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@kcarter wrote:
Update: they offered me to pay $10,000 and they will clear my loan or pay $2500 monthly. I cant do either. I have switched to big commerce and opened a new business and boy it’s stress free. I have tried to get payments lower and affordable and yet no help from either. I have taken this as a loss as Shopify is the biggest platform but I’m happy I do not have to worry about my store being shut down every 10 minutes. Good luck to everyone I would not recommend

Honestly, I wouldn't take it as a loss. Shopify might market itself as an Etsy type of platform, but it really isn't.  I don't know anyone who goes to Shopify and searches for what they're looking for. I even polled my large Instagram following (over 50k) and less than 1% actually searched on Shopify. You're much better off switching sites. Big commerce is where I'm going once the cash advance is paid off. Their site has everything I've been wanting: WITHOUT having to pay an arm and a leg for a gazillion "apps". 

 

Even besides this nightmare from the cash loan, Shopify has always done very shady things. I recall a few months ago I was waiting for a deposit of about 8k to come in. I was flat broke from medical bills, so obviously quite excited. I shipped a few items (under a $100 that day) and the next day my site was locked. I had an outstanding shipping bill of $348. Which wasn't due for another week, but for some reason they decided to collect early. They couldn't answer me, AND THEY FROZE MY PAYOUT. I kept asking "how can you expect me to pay an outstanding bill when you're holding my money?!" They had no answer. No wait, one rep suggested I "borrow from my mother or friends." seriously. They also couldn't answer why the bill was issued a week early. Just kept saying it was automated. In the end, I did borrow from a friend, pay the bill to get my payout. But it's just one of the many bizarre situations Shopify puts you in. I look forward to the day I can move over to Big Commerce. 

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New Member
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I’m going through the same thing except my payouts are on hold. We came
To a monthly payment agreement and I assumed they would take the hold off my payouts but no. I don’t know how I’m supposed to pay when my funds are being held. No one will get back to me. It’s going on a week now of no cash flow and me having to use whatever reserves I have to fulfill and make products. Also we are in California where all non essential businesses are closed. I only have income from my online store right now and then shutting it off without warning is putting my family and I in a terrible situation.
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Community Manager
Community Manager
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Hi all,

 

Since everyones situation is unique and personal details should not be discussed publicly if you have concerns related to Capital and your Shopify account please reach out to Recovery_Operations[at]shopify.com. When composing your message please replace [at] with the @ symbol.

 

When reaching out provide as much detail as possible so the team can assist.

 

Thanks!
TyW

TyW | Community Manager @ Shopify
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New Member
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Wow! Same here. I can’t afford to pay back the entire $2000 a month but I told them that I can make smaller payments until it’s paid off. They said they will file a UCC against my business. I’m not sure what’s the next step. What did they tell you? How will you finish making your payments ?
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New Member
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They are so shady! What happens after the UCC filing ? Can you no longer use Shopify for a new store ? Do they sue your business ?
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New Member
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I noticed that pre-covid, I was getting a really large offer that didn't seem right. I didn't take the loan at the time because 13% just seemed too high. Then when covid started, I saw the amount go down dramatically, about 50% less. Also the interest/fee went down as well. I'm not sure if there is a connection between this and the loans described here. I have taken a few loans from Shopify without any issues. Fortunately, my store has always been growing, so I've always been ahead on the payments. 

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New Member
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I’ve never had an issue with Shopify, but I was considering this advance. Thank God I looked up this thread! Thanks everyone for sharing.

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