Shopify Is Now Giving Entrepreneurs Cash Advances

Multi-channel commerce platform Shopify announced the launch of Shopify Capital, a new merchant cash advance offering to help entrepreneurs get financing to accelerate business growth. It’s in p...
Shopify Is Now Giving Entrepreneurs Cash Advances
Written by Chris Crum

Multi-channel commerce platform Shopify announced the launch of Shopify Capital, a new merchant cash advance offering to help entrepreneurs get financing to accelerate business growth.

It’s in pilot for now, giving some merchants advances to buy equipment and inventory as well as launch new products, hire, and add new channels and products.

Product manager Saad Atieque says, “For many merchants, securing capital is a frustrating and time-consuming process. With Shopify Capital, we’re giving entrepreneurs a simple, fast, and convenient way to secure financing to invest in their business. Similar to our payments and shipping solutions, Shopify Capital represents one more way Shopify can help entrepreneurs strengthen their business operations.”

Shopify Capital tailors cash advances to the needs of each particular merchant based on data processed through the Shopify platform.

“Accessing this financing is designed to be as simple as a few clicks, with money in the merchant’s account within a few days of acceptance,” the company says.

For now, the offering is only available to eligible merchants in the U.S. There’s no application, however. Right now, it’s basically basically on a “we’ll let you know” basis. If you’re eligible, you’ll get an email and notification in Shopify. It’s only limited to a small number of merchants for now, but the company intends to expand it in the coming months.

FAQs and example remittance rates are available here.

Image via Shopify

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