Shopify Capital: Ecommerce Platform Launches New Funding Program For Its Entrepreneurs

May 30, 2016  /  by Lucas Marston  /  in CREATIVE ENTREPRENEURSHIP

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Shopify recently launched a new funding initiative called Shopify Capital to support their ecommerce retailers with potential funding through a choice of merchant cash advances.

Eligible merchants will receive different offers for amounts of receivables at a discount to Shopify, and for different remittance rates to be paid at a fixed percentage of daily sales.  A certain percentage of the daily sales (gross) is used to calculate this remittance fee, assuring that it is relative to sales.

There is no minimum daily sales required and no interest charged on the advance. It is simply a lump sum of dough in exchange for a slice of daily sales until merchants are in the clear.

Eligibility for the program is currently only available to American merchants, though Shopify claims to have plans to “expand this program to more merchants over the coming months.”

Earlier this month, Shopify acquired virtual marketing assistant startup Kit CRM, which manages businesses social marketing via SMS chatbots. These two bold moves help establish Shopify as the one-stop-shop for ecommerce retailers.

Looking for a platform to sell your creative work online? Visit Shopify here.

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