Shopify Capital is an online payment platform that allows businesses to access capital and provides repayment options tailored to their needs. It provides an easy way to access funds to help businesses grow and meet their goals. The repayment options available through Shopify Capital are flexible and depend on the type of funding you are seeking.
Repayment Options
Shopify Capital offers several repayment options to fit the needs of your business. These include:
- Fixed repayment plan: This option allows you to pay back your loan in fixed monthly payments. The amount and duration of the payments are based on the loan amount and the term of the loan.
- Variable repayment plan: This option allows you to make payments based on a percentage of your sales. The payments are adjusted as your sales fluctuate.
- Deferred repayment plan: This option allows you to defer the repayment of your loan until a certain period of time has passed. This can be useful for businesses that need capital but don’t have the cash flow to make regular payments.
Fees and Interest
Shopify Capital also offers competitive fees and interest rates. The fees depend on the type of loan you are seeking, but they typically range from 0-2%. The interest rate is determined by the lender and is based on your creditworthiness and the amount of the loan. Shopify Capital also offers promotional interest rates for certain loans.
Conclusion
Shopify Capital is a great way to access capital for your business. It offers flexible repayment options and competitive fees and interest rates. With Shopify Capital, you can get the funds you need to grow your business and reach your goals.
