While I am not new to shopify I am new here to the discussion. I have a question I was hoping yall could advise. I have reached out to support and have a ticket that was sent to the working capital department but in the mean time.
In august I was offered a working capital of $3600. This worked great for me as I needed the funds to expand. I manufacture my own product.
In november before I was paid off they offered me more. I took that and used it for some various tool upgrades.
Jan 09 the first was paid $3600. On Feb 26th I paid off the second one $5200 ( I remitted the balance as it was down to $2600 and I was hoping to get a little more to fund a new employee I started this past week)
So we are all paid and I check today to see the message "You're not eligible for more funding at this time. We'll keep reviewing your store on a regular basis and let you know if you become eligible."
Now I paid it all, sales have progressively gone up each more to show I am growing and I havent changed anything. I am just baffled as to why they wouldnt offer? Has anyone been through this?
Thanks in advance for any help.
Hey there, @Bradford_Tactic!
Ryder here, from the Social Care Team at Shopify. Thanks for posting! I'm so glad to hear that Shopify Capital was beneficial to you and your business's growth. I'd be happy to elaborate a little more on the processes of applying for any sort of new Capital.
You mentioned that your most recent Merchant Cash Advance was paid off on February 26th. It takes 5 business days after your last remittance for new offers to become available, which means that you might be eligible for funding on Wednesday or Thursday next week (March 4th or 5th, 2020). If after 5 business days your Capital dashboard (Admin > Settings > Capital) isn't displaying new offers, they may still be available for your business. In that case, you can either respond to this forum post letting me know, or contact our Support Team and one of my colleagues can help you with escalating your request to our Capital Team to assess eligibility. This process can take up to 5 business days, depending on your individual case.
I hope this helps! If there's anything I can clarify, please let me know.
Thank you for taking the time and responding. I will wait and see what happens from here. There is a current support ticket in as well. Thank you again! I come from Big Commerce to Shopify. I was with them 3 years. I have been with yall right at or coming up on a year and its been the best year for my business! Shopify is much easier to navigate, much easier to get paid and the website is much more attractive! Thank you!