Hi, does anyone knows if Shopify capital counts as a normal loan or not in the United Kingdom? For example if I take a Shopify Capital as it’s available to increase my advertising even further will this be counted as a normal loan if I am planning to take house mortgage this year? Will my bank look at this and say that it counts as a normal loan as they look at everything when taking a mortgage? Will this decrease my chances of getting a mortgage?
Thanks in advance!
Hi @zarke29
Thank you for your question! This is an understandable concern and I was able to get some clarification from our Capital support team about this.
While Shopify reserves the right to do a credit check, we will not be reporting your capital to a credit bureau or duns number (meaning, we don’t do hard checks). With that being said, if you were to default on the funding (ie: commit a bad act on the capital agreement), it could have an impact on your credit. Your eligibility for Capital is based on your sales history and not your current credit score or status.
So there is a chance that your capital funds could be shared with your local credit bureau, but generally only in the case of a bad act.