hi guys, can someone explain me what is shopify capital?
i got this email (see screenshot) but not getting what exactly is this and how this works.
if some can explain me in short and simple language would be a help.
thanks
Hello DSS5,
Thanks for reaching out to the community!
Shopify Capital is actually a short-term loan or funding provided by the Shopify platform to some of the eligible merchants.
Shopify Capital provides you with a lump sum loan amount for a fixed borrowing cost, also called cost of funds, and the loan amount plus the cost of funds becomes the total payable amount.
This image suggests that Shopify has notified you that you are eligible to get a merchant loan of up to $310 from the platform.
Benefits of Shopify Capital:
- It does not check credit score
- There is no compounding of interest
- It is simple and hassle-free
- Funding gets approved as quickly as 2 days
Hope it helps!
Leesha
Hi, @DSS5 !
Thanks for getting in touch, and I’d be more than happy to help you with this.
Shopify Capital is a financing program designed to support eligible businesses by providing merchant cash advances and loans. If you’re eligible you usually receive an email or a notice in your admin about this.
By securing Shopify Capital’s funding, you can secure business capital to fuel more growth for your business. You can learn more about Shopify Capital at this link!
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