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Shopify Capital Review

    Chris Motola
  • 5 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Chris Motola

Chris Motola

Expert Analyst & Reviewer at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
Chris Motola
View Chris Motola's professional experience on LinkedIn.



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5 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Ayana Muss

    I’m not sure about the US, but in Canada, Shopify Capital has factoring only, with no mandatory loan payment. Shopify Capital is well suited for seasonal businesses. For us, sales drop off sharply in April and rebound sharply in September. The trick is to take out your Shopify Capital loan, just before things start to slow down, as the longer you take to pay back the loan, the less the APR is.

    Another thing to consider is risk, if you are supporting your business with bank loans, with personal guarantee’s, you may want to migrate that risk to Shopify Capital if your are Canadian. The Canadian Shopify Capital agreement, says that if you stay in good standing with Shopify, then you can stretch out your payment for eternity, if for some reason your business collapses, as long as keep your online store open with no major change in products you sell.

    In reality, Shopify will simply write off the loan after several years, if your store never recovers due to the pandemic, change in markets, new competition, etc. In these uncertain times, it may be worth moving any bank financing over to Shopify Capital, and thus eliminate those personal guarantee’s. Not sure if this works in the USA, as in Canada Shopify Capital is backed by the Canadian Export Development Bank (EDC), so the Canadian Government takes the loss, not Shopify, if you fail.

    Also for those who are wondering, Shopify needs around 9 months worth of data, before they make an offer to your for Shopify Capital. If you don’t get an offer within that time frame, you are probably considered high risk for the products you sell, and will never get an offer.

      This comment refers to an earlier version of this review and may be outdated.

      JerryW

      Agree – this is what you definitely avoid. If you really think that they offer 15% APR ask the PRO, you’ll be surprised. And this loan shark company has no mercy during coronavirus hard time for business – they charge us everyday. Absolutely and definitely NOT recommended. Look around, dozen of loan providers will get you the money for half of Shopify cost.

      1

        This comment refers to an earlier version of this review and may be outdated.

        John Cantu

        This is an offer for desperate business with no chance for any reliable loan.We tried their loan – after full pay off , conted APR was….72% !Their new offer is a bit better – ‘only’ 46%. , and only in case we’ won’t increase our sore sell. Once we get make more money , comparing to previous year, APR would increase of course ( since peay off earlier ) Well…this is a following financing based on daily/weekly repayment with perfectly hidden real cost. Do your math before you consider this offer. Unless…you are desperate 🙂

        1

          This comment refers to an earlier version of this review and may be outdated.

          Damien Singh

          Organization Name: TA brand

          There is no pay off fee or increased apr for paying early and the payback amount is a set fee you pick from 3 options. You got the wrong loan confused.

          • Organization Name: TA brand

          This comment refers to an earlier version of this review and may be outdated.

          Bobby

          Agree with Damien. Think you may have left your review on the wrong page. Our calculated ‘APR’ was around 15%. But it was handy for a startup, and easy to obtain.

            This comment refers to an earlier version of this review and may be outdated.

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