Shopify Capital Offers Financing to Small Businesses

Shopify, a cloud-based, multi-channel commerce platform for small- and medium-sized businesses, has launched Shopify Capital—a merchant cash advance product designed to help businesses obtain financing and speed up business growth.

The launch of Shopify Capital solves the dilemma of many entrepreneurs and online businesses who find it hard to obtain financing through traditional sources.

“For many merchants, securing capital is a frustrating and time-consuming process,” said Saad Atieque, Product Manager at Shopify.

“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.”

The company tailors cash advances to the needs of each merchant, based on data processed through the Shopify platform.

This platform allows merchants to design, set up and manage stores across various sales channels and offers a powerful back-office and a single view of their business.

Accessing Shopify Capital is simply easy with funds deposited into the merchant’s account in just a few days after acceptance.

During its pilot, Shopify Capital was used to buy equipment and inventory, hire more employees, launch new products and add new products and channels.

William Sulinski, founder of Pistol Lake, commented, “Shopify Capital allowed us to invest in our own company without having to borrow money from friends or raise funds from investors, possibly giving up some equity.

Working with Shopify for our financing needs was a no-brainer because we’ve trusted them with our business for over three years as our commerce platform — the core of our business — and they’ve been the best partner we could have asked for.”