Shopify Capital is an innovative funding platform that helps businesses grow their sales and increase their customer base. The platform offers a variety of funding options, including loans, lines of credit, and grants. It is designed to provide businesses with the funds they need to succeed. But how much funding can you receive through Shopify Capital?
Loans
Shopify Capital offers loans of up to $500,000. The loan amount is based on a variety of factors, such as your business’s performance, creditworthiness, and cash flow. The loan repayment terms are flexible and can be customized to meet your needs. The interest rate is also competitive and can be as low as 0.5% per month.
Lines of Credit
Shopify Capital also offers lines of credit up to $100,000. A line of credit is similar to a loan, but it allows you to access funds as needed, instead of having to repay the entire amount at once. Like loans, the amount of credit you can receive is based on your business’s performance and creditworthiness. The interest rate for lines of credit is also competitive, ranging from 0.5% to 2.9% per month.
Grants
In addition to loans and lines of credit, Shopify Capital also offers grants of up to $100,000. Grants are different from loans and lines of credit in that they do not need to be repaid. Instead, grants are awarded to businesses that are making a positive impact in their communities. To be eligible for a grant, businesses must demonstrate that they are making a positive impact on their local economy, creating jobs, and/or providing access to essential services. Grants are awarded on a rolling basis, so businesses should apply as soon as possible.
Conclusion
Shopify Capital is a great way for businesses to access the funding they need to grow and succeed. The platform offers loans of up to $500,000, lines of credit up to $100,000, and grants up to $100,000. To learn more about the funding options available through Shopify Capital, businesses should visit the Shopify Capital website.
