Why is Shopify Capital no longer offering advances?

[parkminster]

Having been offered and repaid over 5 shopify capital advances we are no longer being offered any. We were offered one in November following repaying our current advance and were advised that it was not accepted. Having read other discussions it appears that Shopify are no longer providing the Capital advances? No reason as to why. Can some please shed some light on this. Having these advances have help our business throughout the last year or so. Shopify are making a lot of interest from them, so surely they wish to continue?

Any from Shopify can you please help?

[CaptBret]

For what it's worth, I was offered Shopify Capital several times last year.  The amount fluctuated and it appeared to be based on recent sales.  I did accept the offer one time and it was paid off in November.  I just received a new offer yesterday, so apparently they have not discontinued it.  But good luck getting any answers from Shopify (ahem) 'support'. 

[pubba26]

Wait.. there's a Shopify support department??

[Shay]

Hi @parkminster 

Thank you for reaching out about this and sharing your feedback on this process. I understand the value of receiving additional capital offers. To ensure that the system we use for calculating eligibility is not tampered or manipulated, we aren't able to say specifically why a business is not currently receiving additional capital offers. I understand that is not ideal when you are waiting for another offer. 

I can recommend that you confirm with our support team that you have not been added to our "do not contact list" for capital offers. This is something our standard support through our Help Center can check for you. To access our support team, please follow this link: Shopify Help Center, open the AI chat and type "contact support" to get started. 

[Homemadefromhom]

It’s really not helpful to be ignored by support. Especially when we rely on capital. I’m really upset that I cannot be given any indication of why I’ve not received an offer? I hit my eligibility over two weeks ago now. Some clarification of how this works would be appreciated. 

The lack of support and attitudes from Shopify support make this worrying time much more stressful 

[pubba26]

I've given up at this stage.

We paid off a 31k loan last December and during that loan period we had
continued issues with the Commonwealth Bank in Australia blocking payments
or withdrawals to Meta and also shopify capital/stripe.

I managed to get the issue resolved by getting in touch with the bank fraud
team, but I guess the missed payments have affected my chances of getting
more finance through this lender.

It's very disappointing because I was really counting on another loan to
build my business this year. Insead, I just get brushed off by customer
support or given vague information.

I read a reply here on the forum from a 'shopify' expert of whatever, and
they recommended to contact shopify support to see if we're on a blacklist.
I did that and the rep assured me that my account was in good standing ...
so who knows?

It's been almost 4 months now, so I am not holding out hope. Just more
proof that these mega corporations only care about thing: shareholder
profits.

[Shfavorites]

I’m on the same boat. Did you get an offer?

[pubba26]

Haven’t received an offer since then and my business is on life support after we lost most of our stuff in a flash flood 😔

[Shfavorites]

I’m on the same boat. Did you ever get an offer again?