Shopify Capital?

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Does anyone have experience with Shopify Capital?

We're considering taking an offer (to expand inventory) for it largely because of the convenience of the daily remittance rather than a fixed monthly loan repayment figure and while the loan fee is quite high the trade off of convenient repayment works for us.

It all seemed really good and we were ready to sign up but now I'm finding our business address held by Shopify is out of date and they won't extend the offer beyond the original 4 days ("because it's based on revenue") and so while I'm waiting for their own support department to correct our details, it just has a bit of a smell about it I'm not 100% satisfied about and because they're rushing me to sign up it also leaves no time to have the T&C's reviewed by our solicitor.

I don't necessarily think there's anything shady about Shopify Capital but I've also seen a couple of threads online from people saying Shopify has locked their stores for various reasons too which also makes me uneasy so if anyone's had any experiences good or bad with Shopify Captial I'd love to hear them.

Cheers!

 

[She-Anon]

Does anyone have experience with Shopify Capital?

We're considering taking an offer (to expand inventory) for it largely because of the convenience of the daily remittance rather than a fixed monthly loan repayment figure and while the loan fee is quite high the trade off of convenient repayment works for us.

It all seemed really good and we were ready to sign up but now I'm finding our business address held by Shopify is out of date and they won't extend the offer beyond the original 4 days ("because it's based on revenue") and so while I'm waiting for their own support department to correct our details, it just has a bit of a smell about it I'm not 100% satisfied about and because they're rushing me to sign up it also leaves no time to have the T&C's reviewed by our solicitor.

I don't necessarily think there's anything shady about Shopify Capital but I've also seen a couple of threads online from people saying Shopify has locked their stores for various reasons too which also makes me uneasy so if anyone's had any experiences good or bad with Shopify Captial I'd love to hear them.

Cheers!

Hi,

We’ve had 3. Never had any issues with store getting locked etc. be careful which option you choose regarding % of sales you pay back. Our last one was 17% and we felt it hard, particularly over the quiet months of sales. All in all though, very easy, quick smooth process.

 

[Paul Kelly ICHYB]

If your solicitor has a problem with the terms, do you expect Shopify to change them?