Shopify Capital is an innovative financing solution that provides merchants with the funds they need to grow their businesses. The funds are provided by Shopify in the form of a loan, and the repayment process is designed to be easy and convenient for merchants.

Shopify Capital offers a variety of repayment options that are tailored to the specific needs of the merchant. Merchants can choose to repay their loan in one lump sum or in installments over time. The repayment schedule is flexible and can be customized to fit the merchant’s budget and cash flow.

Repayment Schedule

The repayment schedule for Shopify Capital funding is based on the amount of the loan and the repayment terms that the merchant has chosen. Shopify Capital offers repayment terms of 6, 12, 18, or 24 months, and the repayment amount is determined by the loan amount and the repayment term. The repayment schedule will be provided to the merchant when the loan is approved.

The repayment amount is due each month on the same day that the loan was approved. Merchants can choose to pay their loan off in full at any time without any additional fees or penalties.

Automatic Payments

Shopify Capital also offers the option of setting up automatic payments for repayment of the loan. This allows the merchant to set up a payment schedule that is convenient for them and eliminates the need to manually make payments each month. The automatic payments are made directly from the merchant’s bank account or credit card on the same day each month.

Repayment Options

Shopify Capital offers several repayment options for merchants. The repayment options include:

  • Automatic payments: Automatically deducts payments from the merchant’s bank account or credit card on the same day each month.
  • Manual payments: The merchant can make manual payments directly to Shopify Capital at any time.
  • Partial payments: The merchant can make partial payments towards the loan at any time.
  • Early repayment: The merchant can repay the loan in full at any time without any additional fees or penalties.

Repayment Fees

Shopify Capital does not charge any additional fees or penalties for early repayment of the loan. However, the merchant may be charged interest on any outstanding balance at the time of repayment. Interest rates are determined at the time the loan is approved and are based on the loan amount and repayment term.

Late Payments

Shopify Capital does not charge any late fees for late payments, but the merchant may be charged interest on any outstanding balance at the time of repayment. If the merchant fails to make a payment within 30 days of the due date, the loan may be considered in default and the merchant may be subject to additional fees and/or collection proceedings.

The repayment process for Shopify Capital funding is designed to be easy and convenient for merchants. Shopify Capital offers flexible repayment options and does not charge any additional fees or penalties for early repayment. Merchants can choose to make payments manually or set up automatic payments for their convenience.