I have utilized shopify capital to build my business and it's been booming. I've had about 8 shopify capital loans and currently stand at 89% completion of a current loan. My eligibility was at 85%. I haven't heard anything about new offers. I call and all I'm told is that I'm still in review with no time frame. Sometimes I'm told there is a backlog issue and I'll receive an email when offers are ready. I've never had this issue, I normally see my offers within about 3 days of meeting my eligibility. it's been about a month and the eligibility has now changed to 51%. is anyone else out there having this issue? How long was it before you seen offers pop up?
The exact same thing happened to me. I’ve had my loan 100% paid off and zero offers. It’s been 2 months since I hit 85%. Paid off in less than 5 months.
Same here. I found this old thread looking for info on the review for more funding before holidays. I received one load and it's paid back down below review period and nothing. I like how they mislead on first loan by telling you if you take the loan and pay down to review limit you can get another one then nothing. Its beginning of November and Id like to stock up but I guess that will not happen with Shopify capital. And yeah I agree with the others, the 17% interest is a complete rip off.
Same thing here—I passed the eligibility review some time ago without offers. I'm at 98% remitted and still no word. Kind of disappointing right before the holidays. I hope you see offers soon.
Wow! Maybe they don’t have any capital to offer but I was definitely hoping there will be some for the holidays. My contact person is Joe Fazzali. I’m at 49% and will be at 50% Paid off capital, which is my eligibility requirement, by tomorrow and I’ll let you know if I get any offers in the next few days.
I received new offers at my 50% but not great ones, only up to $5800 with 17% remittance on sales. I never go over 14% but they did give me options to review. My contact person is out on paternity leave until November 1st so I would have to contact the Shopify Capital team to speak to someone about better offers.
So it can’t be backlogged if you already got an offer. I’ve literally been waiting 3 months after paying off 100%. You got an offer right away at 50%. Wow shopify.
But seriously! I’ve been trying to get funding for more inventory since Nov/Dec of 2021! They moved my eligibility from 50%-85% then after I reached my 85% they have now changed it back to %51! My sales are low because of low inventory and I closed my storefront last month so! I’m kinda pissed but I’ll rebuild!
Sad to hear about the storefront! The same thing happened to me- the eligibility bounced around and then crickets. I’m sorry, I know how it feels. I tried to contact Shopify and got a generic “you don’t contact capital, they contact you if they want to.” Maybe it’s a good thing, no one wants these interest rates.
don't pay off PayPal quicker than your schedule mate. went through the same first time and leaner out of it. IF your payment term is 90 days and you pay off faster at day 50 you still have to wait then till 90 days pass. second PayPal payed of c couple days before 90 days and wasn't eligible again until day 90 pass. pay pal is an algorithm what is not controlled by employees.
Even though you have a new offer and you accept you’ll still only be paying on the loan you currently have. Once you’ve completed it they’ll then start your new one so it’s not on top of it’ll just be on the new one.
I personally have an experience working with their customer service representative. She was nice and talkative. Would check in on me to see how I was doing, but was not helping me at all. Was telling me that they believe we will have to wait some time before I am approved. Never gave me a good reason for a delayed offer. I suspect Shopify is short on funds and cannot support so many clients.
What original offer amount did you receive? I usually see offers at 50%, I’m at 49% now. The offers have gotten smaller, my last offer was $10K with 10% sales remittance but I usually receive offers for $18K with 14% remittance.
Same! I reached a few weeks ago my 50% on my 3rd capital loan and still no new offers. It shows eligibility review. I was really hoping to get another offer to get more inventory for the holidays
That’s interesting that it’s the bank level. I found another thread and someone from Shopify confirmed a backlog. But that conversation was in August! I guess a lot of shops are feeling this right now.
The update I got 10/25 was because they expanded to more areas being able to take part in the program they became overwhelmed with requests due to having a very small Capital Team. So the backlog is confirmed. I did ask for honesty for the “Ran out of money” wondering from some (me as well) and was reassured that’s not the case at all it’s solely the being overwhelmed with new requests and was also told they’re also trying to expand the capital team. It would be nice if they had a way to separate new requesters and those that are basically in a continuous cycle of getting-paying off, getting-paying off. This is just not the time of year to have crickets for those that are used to the loans.
They opened up the program to Australia in August and I think they over extended their resources in regards to the team members that process them almost immediately by offering a ton to stores there. They still call it a “request” when they offer it and we answer back with the one we choose to accept.
Do they have an estimated timeframe of when they will come back to us? I read somewhere that someone got an offer the next day like normal, so why didn’t they get held up like the rest of us?
Yeah I got our first loan in about august. greetings from OZ lads. about to pay it of in a couple days but can't see any eligibility yet. only thing it says on the capital page is that there are no offers yet. check back later. Not sure if there is even a certain % to hit. Im sure you gotta pay it off completely then you'll get some new offers. I mean why should they offer you more loan when your still paying it off.
Yes I get what you mean but with my first capital funding they offer more funding at 85% so you carry on paying that one back and just carries onto the new one. This time round same thing said 85% eligibility review but that was almost a week ago and still no offers. My issue is they give no clarity at all
I dont see on my end any message saying at XY% eligibilty review.
When I go to the main capital page, all it says :
Your store doesn't have any offers at the moment
Tell us how much you’re interested in and we’ll notify you as soon as offers through Shopify Capital are available.
We'll notify you!
does this mean I am not eligible for offers? anyone else has the same message displayed and then paid off 100%? did a new offer popped there up?
Hope this gets resolved and we get the offers because the holidays are so near and I could use help with inventory costs!!!
Zero offers as well. I’m making more money than I was with my previous loans. I don’t get it. It’s hurting all of us for Christmas. They told me that maybe PayPal will give me an offer…umm what?
I hear ya same for me my sales are definitely higher but I did come across someone’s comment on another forum that they did receive an offer last month however the deposit date was almost a month out so that tells me they are having issues for sure so fingers crossed these coming weeks it gets resolved and we receive the offers ❤️
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