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shopify capital loans

Published on: January 1 2023 by pipiads


hey you guys and welcome back to my,channel my name is dcmas for you guys,who are new here and for returning,subscribers what's up y'all we're back,with another video so today's video,we're going to be toking about shopify,capital okay,i know that y'all have heard about,shopify capital it's kind of like a,business loan from shopify shopify is on,the move y'all like shopify is the place,to be if you have an e-commerce business,if you don't i mean that's fine but if,you do,you need to be on shopify okay shopify,is giving us money okay so it's been,over,i think it's been over a year now since,they started offering shopify capital,i've been with shopify for a while now,and i started one of my businesses back,in 2018 well my previous business before,this second business i started in 2018,and i've always had shopify so i've,always used them but not to like the,full,full potential as they could be so i,really started getting into it in 2021,2020 like the towards the end of 2020,and i started you know taking more,serious putting more apps on there or,not just more apps but apps that will,help me and stuff like that so yeah,the more you use shopify the more they,give okay,so,shopify capital okay shopify capital is,a business loan okay,loan that you have to pay back right so,they always offer you three different,offers so you have like a higher offer,say they offer you 2 000,and then they'll offer you 1500 and then,they'll offer you a thousand so,it's up to you which one you want to,take because each percentage is,different,on how they take the money out of your,sales so the middle one might be 14,that they're going to take from your,sales meaning if you make,a hundred dollars they're going to take,14 from your sales plus their shopify,fees and stuff like that until the loan,is completely paid off or you can always,remit the whole balance but i think you,have to make a few payments out of your,sales before you can do that so,um if they're offering you,like a 10,of 14,and then a 12,um it depends on what you feel like,you're okay with if you're okay with,them taking the twelve dollars out of,your hundred dollars go with that if,you're okay with the 14 you really need,the money and you know what your product,is gonna sell you're gonna be able to,pay this money back quickly then i will,take the higher one,but really and truly i would always,start on the lower end just in case,something happens so if they offer you a,thousand dollars and you have the means,to pay the thousand dollars back and you,are making the sales that you know that,you're gonna pay it back then i would,take it but if you're not making any,sales if you're barely making sales i,really don't advise getting this because,they want that money still you know,whether you make one sale a day one sale,a week you know you really only pay when,you make sales but if you don't make any,sales that month they have a set,like price that they'll that you're,supposed to pay every month even if you,don't make sales so if you don't make,sales you still have to pay,that set amount so say you take a,thousand dollars say they want 150,a month for this thousand dollars,and you haven't made any sales this,month you still owe them,150 dollars so you're gonna have to pay,that 150 out of your pocket and you know,the next month you can try it again with,yourself so they're really understanding,about that it's a really good way to one,stok up on inventory or use it for,facebook ads or upgrading your,packaging upgrading everything upgrading,your product getting more product you,know so i think that shopify offering,you that money is a really good thing,it could be a really bad thing because,if you don't like sales then you know,you can't you don't pay it back faster,so the faster that you,pay them back the more money that they,will offer you um i've seen people get,offered like thirty thousand twenty,thousand so you know their sales are,really through the roof but imagine,being offered that on a platform that,you're just using for a website and when,you sign up for the capital you don't,even have to fill out a whole lot of,paperwork they already have your,information on file as it is but you,don't even have to fill out a whole lot,of paperwork like you would like a,actual,business loan or anything like that like,you don't have to like a business a,regular business loan you have to have,your ein and your,business account or even if you you,should have your ein if you don't and,you have your sole proprietorship you,should still be fine because i think i,have mine like that on my on my thing so,i'm thinking that you know you,definitely should use your ein number as,compared to a traditional bank for,business loan sometimes people make you,write out plans and i don't know it's,like a lot of things that go into a,traditional bank loan where you got,shopify you just using them for a,website platform and they offer you they,say hey we want to give you some money,so that you can keep using our platform,and you can keep making money yourself,think about it okay,i ain't trying to persuade you now but,i'm gonna show you guys on the screen,like how it looks and stuff like that if,you want to sign up to get to this,screen you will click finances and then,you will click payouts and then it'll,show you at the top of the page if you,are eligible for shopify funding,so,here are the three offers that they are,offering you guys like i said earlier in,the video they have 10,um 14 and then 17 of your sales and it,actually shows you how much you will be,paying back at the end of the whole,entire loan,so i'm just showing you guys just what,the page looks like you can request,whichever one you like,um it just depends on you and what you,feel like you can pay back um and what,you need at the time,so the one in the middle is going to,probably be the best choice,and you know it's just kind of in the,middle,so,these are the terms and conditions you,can read them and accept them and then,you will be on your way to,getting more inventory and upgrading,your business with shopify capital okay,and everything like that,because it is a really quick process and,it doesn't take long either they're,gonna deny you or they're not you know,like they'll give you the money or they,won't so just think about it when you're,um just think about it if they ever,offer it to you so you i feel like you,have to be making you know consistent,sales because i've been offered it on my,newer business,but it wasn't as much as my older,business but i haven't taken it yet so,um,i definitely am considering though just,to upgrade a few things but they offer,it to you when you start making,consistent sales and they say okay this,person is going to keep using our,platform keep making their money keep,making us money so wow let's offer them,some money so they can stay here okay,and upgrade their business so that you,can make some more money who is doing,that,i don't see wicks doing that,or square,or anybody else i don't think anybody,else is as big as shopify with offering,their customers things like we're,customers of them you know so,they're offering us these things to,upgrade our business okay,so definitely,definitely try it out if you decide to,take shopify funding let me know how you,use it let me know how i helped you and,don't forget to like comment and,subscribe and i will see you guys in my,next video

SHOPIFY OFFERS LOANS!! | Is Shopify Capital A Yes Or No For Small Business Owners?🤔

[Music],hey guys welcome back to my channel and,if you knew you should definitely,subscribe because i'm a whole vibe okay,period,so on today's video i wanted to touch on,shopify capital,i've had a couple of y'all ask me about,shopify capital and then i'm also in a,couple of business groups,and a lot of people have questions about,it so i'm like why not make a video,because i'm sure it's a lot more people,that would like to know a little bit,more information about it especially,from someone who's tried it before,and i've already done shopify capital,about three different times so,i'm like why'd i make this video just,gonna get right into it for those of,y'all that do not know,shopify capital is basically a loan that,shopify gives,business owners i'm not gonna lie to you,i don't know what makes you eligible for,this loan i just know that once you're,eligible shopify will let you know okay,they send you emails it'll pop up on,your home screen especially if you have,the app,they're gonna let you know but if you,haven't seen the email or anything you,can always call shopify and ask them if,you're eligible that's a pretty quick,and easy process right there,now the amount you get just depends on,what shopify wants to give you so it's,not a specific amount that everyone,starts off with,they probably decide how much they're,going to give you for your first loan,based on how much sales you get,i'm not 100 sure but i'm just guessing,that makes sense,first time i did shopify capital the,highest amount i was able to get was,eight hundred dollars and that is,typically three amounts that you're able,to choose from,so they have like for example they'll be,like 300,400 and 500 obviously the higher the,amount,the higher the interest or the higher,the percentage is that you have to pay,back,for example if you choose that middle,option the four hundred dollars,they may say that if you choose four,hundred dollars you're gonna have to pay,40 percent back of each sale that you,make so that's how shopify gets their,money back,let me back up a little bit because a,couple of people were asking me well how,do they get their money back how does it,work,so shopify automatikally takes it from,you every time you make a sale,the percentage varies so like i said,if you choose the smaller amount the,percentage is maybe like,10 i'm not 100 sure i know the middle,amount is 14 because that's what i,usually go with the,in the middle amount is usually the,recommended amount so they recommend you,take a certain amount i guess based off,how much you make i'm not 100 sure,and then you have the highest amount,which has,the highest percentage so like i said i,usually pick the one that's recommended,to me which is,the whatever the amount is that's in the,middle,and that's usually 14 back i usually,have to pay 14,back so from every single sale i make,shopify is going to take 14,until i pay that balance off and they do,charge a little bit of,interest uh for example if that price,that you chose was,three hundred dollars you're probably,gonna have to pay about 380 back or 400,back shopify is going to make sure that,they get a profit of course so there's a,little bit of interest you have to make,sure you read,please do not sign up for anything,without reading so you know what you're,paying,back usually when you finish paying,everything off i'll be eligible to apply,again and the amount will usually,increase but what i was told,it's not necessarily like a credit card,so just because you may pay,everything off early because you do have,the option to pay everything off early,but i was told that it's not necessarily,like a credit card where if you pay,everything off early,they're going to automatikally increase,your limit they told me that over the,phone just beware that if you guys are,looking to get an increase,just because you paid things off early,does not necessarily mean that they will,give you an increase the next thing i,wanted to touch on was whether or not,it's,worth it and in my opinion if you're in,a situation where you're getting,consistent sales you do not have a,problem with buying inventory,i do not think that you should apply for,shopify capital,i feel like you should apply for shopify,capital,if you desperately need to meaning if,you need,inventory oh you need to pay for,marketing you need to pay for,shipping supplies then of course,sign up for shopify capital if you're,eligible it's going to,help you out it's going to give you that,push that you need and it's not like,they're taking money from you that you,don't already have it's not like they're,automatikally taking money out of your,account they're taking money out of,whatever it is that you make here's what,i am going to say,make sure that you are making a profit,if that means you have to up your prices,to incorporate that percentage that,shopify is going to take out,then do it okay do not do not do not,sign up for shopify capital if you're,not going to get a profit and if you're,not willing to change your prices to,adjust your prices,because it will be pointless you'll be,making no money back,if you have to up your prices that's,just what you're gonna have to do,so incorporate that percentage into your,prices,and you should be good i'm not getting a,loan from someone if i'm not planning on,doubling it tripling it i do not always,use shopify capital i use it for,certain situations like if i want to,have a whole bunch of wigs on hand and i,just feel like flipping money,that's what i do when i sell those wigs,and flip that money and,although shopify is getting what they,get back i am getting that and then some,back,so you have to be smart about it but yes,shopify capital is definitely worth it,that's pretty much it that's pretty much,all the questions that i,came across or i've seen people ask in,the groups that i'm in,so hopefully this helps if you have any,more questions you can always comment,down below,or dm me on my business instagram i have,to say this i respond much faster on my,business instagram because that's where,i,am most of the time hopefully you,enjoyed this video don't forget to like,comment and subscribe and i'll see you,in the next one


Getting Funding For Your Business: Shopify Capital

some people like to be like ah i saved,my money i use all my money,good for you,[Music],hey slave bags we back with another,video y'all know i like to jump right,into it so we're going to tok about,money again,this time it's going to be some business,funding it is shopify capital and a lot,of these things apply,to other companies that do the same,business model when it comes to funding,so what is shopify capital shopify,capital is somewhat,it is it's not even somewhat it's a,business loan um but it's not your,traditional business loan where you have,to show all these w-2s and tax returns,and be in business for two years and all,that,y'all know it's like if if i got to show,you i'm making money why would i need,money type thing so or a substantial,amount,so what shopify does is they will,evaluate your sales over the course of,some months i want to say it's like,three to six they don't really have too,much information on exactly how to,qualify because it is an invite only,type of situation they will offer it to,you when they feel you ready pretty much,but it doesn't have to be,six figures or anything like that my,first shopify capital probably was like,maybe 450,so they go off what they think that you,can handle and repay back within the,amount of time that they uh select which,is i believe a year i think it's 12,months,um,and then you pay it back,by a percentage of your sales so if you,don't make any sales that day,you don't pay any money that day but you,do have milestones where you have to pay,a certain amount every 60 days so,um,a lot of people wonder about it because,i know a lot of people have shopify so,they be like oh i don't know if i should,use it or this is this and that i say go,for i'm off and use other people money,if i can make me money because even,after i pay it back i should have still,made some money off of it to further,advance my business now when i say don't,offer it if you know your sales is not,where it needs to be to be able to repay,that loan so nasa routine shopify is,gonna know whether or not you can pay it,because they've been watching your,trends in your sales so you usually,don't have nothing to worry about unless,you take that money and close your store,what you shouldn't be doing please,please don't do that cause you're gonna,own the people that money,so to me is a very good way a easy way,um i don't believe they run crazy i'm,not gonna lie i don't believe they run,credit i think they just have to run to,verify you are who you say you are but i,do not believe this is a credit check,situation um unless i think let me say,this,i've never gotten an inquiry on my bank,or anything like that asking,about shopify now what i do think is,they may do a soft pull to make sure you,don't do no fraud or not like that i,think they may do some little research,on that end to make sure that they're,not getting they sell in too deep but i,do not remember a credit check or,anything like that they went off my ein,as well as my social but i never got any,alerts about a credit check it was,solely off the sales of my business,um,again,it is invite only so,um i know sometimes they have like they,have a link somewhere that says see if i,qualify but nasa have a 10 if it wasn't,in your home page,uh analytiks or whatever like that to,say hey we're offering you this national,team you probably don't qualify um but,again like i said when i first started,they were doing very very small amounts,and i'm pretty sure they probably would,still do small amounts because that's,why they can make some extra money,what can they be used for now because,totally honest they don't check what you,use it for,i'ma be honest they don't check but i,damn so highly recommend you use it,towards your business because you need,to be invested so you can pay this money,back because they don't want theirs okay,they're going to want there so if you,eff it off,that's between you on shopify don't,don't don't mess it up because they give,very large amounts,very large amounts,once you show yourself worthy pretty,much,show them sales and stuff like that,maybe they get very large amounts,okay i'm gonna show y'all i'm gonna show,y'all man i'm gonna show y'all my whole,journey with doing shopify payments uh,shopify capital my sorry,um,just go ahead in the next pocket you,have to have shopify,you have to have shop pay activated on,your shopify to be able to qualify if,you don't have sha pay on there they,will not offer it to you and you cannot,deactivate it once you have your loan so,it's very important to have chape chape,has come a long way especially when it,comes to the hair industry they have,allowed to take payments as well as they,have the for what they they're they're,the,lowest interest rate when it comes time,interest rate processing rate um,when it comes to doing the four-way,payments if i'm not mistaken across the,board they're about five or six percent,anybody else is like ten eight you know,stuff like that so i feel like they're,trying to get to a point where they,couldn't eliminate having any other uh,parties on their uh websites because,they're just that good as far as you,know the process and racist stuff like,that so shopify,look shopify payments,shop pay all that good stuff it is,required to be able to be qualified,another thing it does not have an,interest rate i see a lot of people,get the repayment,percentage,confused with the interest rate there is,no interest rate there is no interest,rate it is a flat charge so let's say,i'll try to bring a screen up let's say,i borrow three thousand dollars they're,gonna say okay we're gonna loan you,three thousand five hundred,it's gonna be three you you know we're,gonna loan you to three thousand but,you're gonna pay us back three thousand,five hundred,so the five hundred dollars would be,what they make off the loan it is not an,interest rate the the percentage number,that you see is the percentage of your,sales that go back towards the loan so,they that percentage can range from,anywhere between eight and twenty,percent it might go even higher,according to how much you borrow now,mines has never been more than 17,so,uh and i think my lowest may have been,like nine or something like that so,10 to 20,will go back to your sale go back,towards paying your loan so there's no,flat oh i got to pay 200 a month or you,know stuff like that there's no flat,thing so if you made the sale let's say,you missed this month you may not make,the milestone you need it but next month,you over you over,cap it but if you don't,if you don't make the sales they're,going to want a payment of the,difference of what your milestone is so,every milestone is 60 days so let's say,every 60 days you're supposed to pay,them back a thousand dollars that means,you have to make enough money that 17 of,your sales gave them a thousand dollars,that or that six in that 60-day,milestone,um,so if you don't let's say you only made,700. on that day,that is due,they're going to take that money out,whatever accounts you got hooked up to,shopify they're going to get their money,you got to reach the milestone because,it has to be paid off in 12 months and,it has to be paid in these increments in,these milestones,so that was a lot it is if i if i'm,confusing it anyway i'm trying to be as,clear as i possibly can because it is it,can get confusing but once you see and,grasp the concept of you go oh it's easy,it's easy because now i'm not thinking,about okay on the 15 i got to pay this,on this on no,it automatikally come out before i,because it literally they get their,money before i get mad type situation it,literally comes out automatikally like,autopay and that's it um,so please keep that in mind when it,comes to the payback there is no,interest rate the percentages you see,is,definitely the percentage is going to,come out of your sales to,pay them back unfortunately this um is,only available in the united states i,know we shop on the uk and canada and,things like that but t

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Shopify Capital Review | What is it and how does it work?

i'm stephen with ledger crews and in,this video i'm going to review shopify,capital,feel free to subscribe to our channel,and hit that notification button so you,can get more content like this,[Music],so shopify capital provides what's known,as a revenue-based lending where they,provide a loan and get paid back as a,percentage of daily sales,what this means is that you'll get a,lump sum of money in a form of a loan,that you could use for inventory,purchases marketing something else and,you're gonna pay that back as a,percentage of your daily sales,i spoke with a shopify capital,specialist and he provided some insights,let me tell you about those,they look at the data from your shopify,store and use ai to determine how much,to offer now,they're unclear on what goes into this,but i can make some guesses,i would assume that they're looking at,cells over time they're comparing to,prior periods,they may be looking at cell's velocity,they may be looking at different metrics,on what's being sold but it's somewhat,of a black box,because shopify has lots of data they're,going to be looking at trends across,various accounts so they probably look,at your account versus comparable stores,they're going to be looking at macro,economic trends like government interest,rates inflation etc but it's this big,black box you don't know how it works,they just are crunching your data to,come up with that offer,there will typically be different,options of lending,with different repayment rates which,i'll go through later,i was told the rates are determined by,the factors that their ai looks at but,you'll see that the the rates change as,the size of the loan changes,these loan offers will change so what,you see one day might change the next,now key note on shopify,capital it's only available in canada,the uk,and select states in the united states,the state will be based on the business,from which you're operating from which,is probably the one that you were,putting in shopify for,i wasn't able to find a list of states,on shopify's website but a recent,fundera artikle as of june 2022,listed these 14 states,so if you're one of these 14 states,awesome if you're not wait and see,shopify capital is available to eligible,merchants using shopify payments as well,as eligible merchants using third-party,payment gateways,that said they recommend shopify,payments as they state they'll have more,insights to give an offer,not sure what that means but they're,probably going to have take the data,from your payment processing and,calculate that as part of the the,process my guess is they're looking at,return chargebacks that type of stuff,and if they're using shopify payments,it's a little bit easier to crunch that,data,not every store will be eligible so if,you don't see an offer it means that,shopify doesn't feel like you're,qualified and again it's a black box so,you don't know,there's some interesting aspects of,shopify capital,first they don't require personal,guarantees or credit checks,this is great for newer businesses,or those with poor business or personal,credit because traditional lenders will,usually require those things,that said it probably means that you're,paying more for this loan and you'll see,that when we go into the terms,the shopify capital specialist i spoke,with says they don't like to have loans,out for more than 10 months so be aware,of that and that will probably go into,the calculations if you look at the,numbers,now an interesting aspect is that 85,percent of loan payback a merchant is,open for more funding,and the loan doesn't get stacked so,there's no double payback rate just,means you can create an additional loan,and pay it back,separately,loans will be deposited within three to,five days of a request being reviewed,and approved so even though,you have that offer they're still going,to go back and probably do an additional,review process which again is a little,bit of a black box,all right let's dive in and look at the,details of an offer from one of our,businesses soltaskana this is a business,that we own so we're able to show you,some details,if you're eligible for shopify capital,you're going to find an offer on your,home page,if you scroll down in your store you're,going to see something like this,let me go ahead and click on this here's,my offer,you're going to see three different loan,amounts,you're going to see three different,daily sales repayment rates,and obviously three different amounts of,interest,if you want to go ahead and proceed with,the loan you click on the request button,and go through the process,but let's break down the numbers and see,what this means,all right let's break the numbers down,so i've got my loan amounts,i've got my payback amounts,and i've calculated the interest for,each of those offers,and then i've calculated what would the,interest as a percentage of the loan,amount be,so you can see the more that you're,taking out there's more risk and,therefore the interest rate is higher,i have assumed let's say it's a 10 month,payback,this is what the effective apr,annualized percentage rate would be,now in reality,based on the velocity of your store,you're probably going to pay these back,faster and so your apr could be,effectively higher,so you got to consider that these are,not cheap,loans let's take a look and compare,these rates to what we're seeing,right now at this time which is july,2022.,all right let's compare these rates,which are around 9 to 15 percent apr,compare that to say an sba loan again,this is being recorded june july 2022,you can see that sba loan rates are,seven to nine percent,or 7.5 to 9.5 percent,the,difference is the,length of the loan and the amount of the,loan so these are definitely cheaper,loans,if i were to look at other things like,lines of credit,you would find that they will be,probably somewhere in between they could,be higher than a shopify loan,lines of credits can be all over the,place,so take that into consideration,the reason why a lot of sellers do,shopify capital or other revenue based,loans is simple,traditional banks don't like to lend,where there isn't collateral like a,building or a vehicle,inventory can be an exception but that's,like the only asset that you can lend,against with a traditional ecommerce,business unless you have those other,types of assets which a lot of them,don't,traditional banks will look at a lot of,information like business credit,personal credit business financials etc,and,shopify capital does not,traditional banks will likely require,personal guarantee meaning you are,personally on the hook to pay back the,loan if the business cannot,for all of these reasons shopify capital,can be a good option,as it is a much simpler loan,uh to obtain,as well as pay back,that said there are costs of the loan as,we saw,i would be very thoughtful on using,shopify capital grow your business,because you're going to pay a lot to do,that,and you probably want to look at more,traditional lending that's going to come,at a lower cost of capital over time,you want to make sure that that lending,is driving growth and or profitability,either in the short term or the long,term or this loan can become a burden,for you,with this in mind shopify is best used,for critikal things like inventory,purchases,or advertising that has a quality return,on ad spend so bottom line is,can be useful but be very thoughtful,about how you shopify capital alright if,you found this video helpful like it,ask me a question in the comments i'm,happy to answer it and be sure to,subscribe to our channel where you'll,get more content like this and if you,need help with your ecommerce accounting,reach out to ledger gears via the link,below

Should You Accept Shopify Capital Loans?? (Do This Instead...) | Shopify Dropshipping 2021

okay so clearly you guys all know your,own financial situations,but today i'm going to explain why i,personally never take offers from,shopify capital,and show you other methods of funding,your own stores now obviously i have the,capital to work with,now i've been doing this for years but,that wasn't always the case,so stik around for the next few minutes,and i'll show you guys alternate ways to,find your shopify stores without burning,a hole in your wallet,also if you're new here my name's alex i,cover all things related to e-commerce,so if you find any value in this video,whatsoever be sure to subscribe for,future content,and without wasting any more time let's,do this the best way i know how and jump,straight into my laptop,okay so as i mentioned we're gonna be,going over funding alternatives for,shopify capital so you guys can keep,more of your own hard-earned cash in,your pocket,so let's move on to the next slide and,get started with that,okay so some of you guys may be familiar,with this screen some of you may not,have had this offer yet but,basically after a certain amount of time,on shopify once you've scaled your store,or,been in business long enough shopify,will start offering you,loan options so this can be used to hire,more employees,expand your advertising budget um,buy some office space order more,inventory,create more influencer shout outs or,anything really needed to run your,business that's what it's supposed to be,used for,but as you can see right here there's,different offers,available to you they'll actually,increase over time as you continue,scaling your store but this is one of,the stores that i've created recently,and i've just started getting these,offers but as you can see right here,they're offering ninety eight hundred,you have to pay back ten thousand,five hundred fourteen thousand you have,to pay back fifteen thousand four,hundred so there are some cons involved,so on the next slide let's go over the,actual pros and cons,involved with this okay so starting with,the pros there's actually no credit,check involved with this so a lot of,times when you wanna take out a business,loan or a car loan,or a house loan or any type of loan,where you're borrowing money from,somebody,they check your credit to make sure that,you are reliable and that you can pay it,back but with shopify capital,they actually go based on your history,the history of your store and your sales,and everything like that so they,determine,if you're eligible for a loan another,pro is the instant deposit so if you get,accepted for the loan they'll deposit in,your bank account,right away and you can begin spending,that money,another pro is the set payback amount so,the interest rate,does not change over time like i showed,you if you get like a ten thousand,dollar loan you have to pay back a,certain amount later,and then you pay over time through your,sales so you'll you'll have it set up a,certain way whether it's like ten,percent of sales each day fifteen,percent,but over time you pay a certain,percentage of your sales to actually pay,back the loan over time,and it's simple to apply and repay like,i've just mentioned the structure is,really nice around it,and there's very competitive rates,versus bank loans so while there's,interest payments you actually might be,saving money compared to taking out a,bank loan but,to me both of these aren't exactly ideal,i'll show you ways around this and then,there's zero hidden fees,uh like i said there's the fixed rate,that you have to pay back and then,there's a variety of funding amounts to,meet your needs so if you don't like any,of the amounts they provide to you you,can actually speak with a shopify,specialist,and determine what would be the best,loan amount for your own store and go,from there,so those are some of the pros involved,with this i'm not completely ruling out,shopify capital i think it's great for,some situations and it can really get,you started if you pick a good loan,amount,and you understand the structure and,everything behind it but what i'm going,to do is show you ways to,avoid actually taking out a loan,entirely so you don't have to pay back,the interest payments over time because,a lot of times if you take out a loan,and you start expanding your business,you might actually lose money with the,interest payments,so going over the cons you're missing,a percentage of your daily sales so like,i said if you're paying back,10 of uh the loan every day through your,sales you're missing 10,of your daily sales every day and that,can add up uh you're still paying,interest on the loan but it's a fixed,amount,uh it's basically pay to play so it,sometimes includes a higher cost to,borrow so,some of the lower amounts you're paying,back less but the more you borrow from,shopify the more you're gonna have to,pay back,this is only available through shopify,so if you're running your store on any,other platform,and they don't have the service,available or anything like that like i,know paypal offers basically the same,exact loan with very similar rates but,shopify capital is only through shopify,so you have to use and pay for their,platform,and go through all of that to use it and,then uh,there's no flexible long-term finance,rate so it's literally just set up the,way you saw it you had to pay back,that with a certain amount of your sales,every day and then,the last con is the personal guarantee,so,they actually have the right to seize,your assets if you do not pay back this,loan so let's say,you take out a shopify capital loan you,pay back like two three days and then,you shut down your store and you think,you know you're off the hook you're,never going to hear from them again well,they might be coming for your car your,house,whatever you have a value they'll come,after if you do not pay back their loan,it is just like a bank they can seize,your assets so now that we toked about,the pros and cons,let's go over alternate methods of,funding and ways that you can,actually fund your own stores okay so,these are alternate methods to fund your,stores without taking out a loan or,going through shopify capital or,anything like that you're using your own,money even if you don't have any right,now so,first step is obvious but i always,recommend,saving up money before even starting,your econ business so you want to set,aside a budget,to you know order inventory if you're,going to be shipping it out yourself,have an advertising budget so you guys,continue testing because,in the beginning stages of an ecommerce,store it's very easy to lose money and a,lot of times you will,set and follow a strict budget like i,just mentioned so testing products your,ad spend your influencers everything,else you want to track,every penny at the very beginning and,that moves on to the third point,track every dollar and find ways to,minimize your cost so you guys can cut,apps,services that you guys don't need,shipping costs in any aspect that you,can in the beginning stages because,well every dollar matters you guys,should be reinvesting it in your own,stores,another thing i recommend is always,using a cash back,credit card but you can find yourself in,some trouble with this so let me explain,so beware never overspend and always pay,on time so if you guys are using a cash,back credit card don't think of it as,like a free money card,or you know this and that use it like,you would with a checking account only,use money that you have,and then you get the reward of the cash,back at the end of the month so,you'll keep your spending habits the,same you'll spend on your business,just like you would if you had a debit,card but at the end of the month,depending on where you're at with,scaling,you could be finding a lot more cash in,your pocket,like i said you'll want to treat this as,a checking account with a decent amount,of cash back bonus,but do not blow your cash back every,month reinvest it in your business so,let's say you get like,500 your first month i

Shopify Capital | Business Loans Up To $1,000,000 For Shopify Store Owners | Ecommerce Financing

hey guys it's King hey we'll connect you,to the top loan and credit sources,online,and this loan source financing here,Shopify one of the top e-commerce,platforms a lot of you guys out there if,you have e-commerce store you're,watching this you are using Shopify,right now so if you're new about they,can help fund your business fund that,store up to one million dollars,then you're you definitely stik on with,this whole,walkthrough of the website which is,pinned in the comments and the,description box below the video guys now,before we get into the quick walkthrough,go ahead and click that subscribe button,so you never miss a video upload on this,channel and you'll find out find out,about the latest,loans and credit sources online that,can get you up six million dollars,within 48 hours all right so check our,Channel homepage if you're interested,other sources other than the Shopify,business Capital funding,all right guys let's get into it now up,to one million dollars now this is to be,a good funding option if you are already,generating a lot of sales on the Shopify,platform,because more than likely usually how,this works guys is or when you they're,gonna you got to pay back bills that,funding through your sales okay and,which is not a to me it's not a bad,thing okay so for example here guys look,at this,the order forty dollars,so total sales of forty dollars,the repayments for the capital the,capital loan you got you have you have a,acquired from Shopify they approved you,it's four dollars so they're taking four,dollars so your total profit is thirty,six dollars there,so I don't see anything wrong with that,because,you just you're simply paying the,the loan back the financing back this is,financing back through your sales to me,that's better than just,paying it back monthly you paying back,gradually every time they Excel,so business funding your way get the,freedom to grow your business the way,you want with fast funding neglectable,payments through the Shopify capital,now to see if you're eligible to log,into your Shopify account,if you're using the pack want to sell,your products and services,and he'll let you know if you're,eligible,I says fast free,a hassle-free application you apply for,funding with minimal paperwork there's,no credit check you get funded in days,not weeks received funds within days if,approved use damage you see fit,automated payments repay funding as a,percent of your store daily sales so,payments Flex with your business all,right so,you'd have to understand this guys some,some people I've toked to they don't,like the fact that they're having to pay,their back out of their sales by wealth,to me it's it's,not on your mind it's like okay instead,of you thinking about having to pay it,back if you're generating hundreds of,sales a day just just be thankful,because folks you already generating a,lot of money to generate 100 sales a day,it could be a product that you have on,your store that's ten dollars,100 sales a day hundreds of sales a day,you're still going to drink a lot of,money if they're taking just a 80 cent,out of every ten dollars to pay back to,Capital just smile and be thankful all,right I said Peace of Mind secure your,offer at a fixed cost no compound,interest no surprises,all right your money your moves from,buying inventory to ramping up your,marketing efforts and bringing hiring,more staff you decide how to use your,business fund now,use it I always tell people this it,should be common sense use it to buy,more inventory more of the products you,need,and definitely more staff if you need it,that way you can pay those guys and gals,so they don't quit them,this is hire who you need beat back,orders and stay competitive,all right drop it down a little bit now,this is a testimonial it's a vs30 herpe,Foods want to check out her food should,be able to Google that you probably pop,up that you can watch this video,I said after I received my funding from,Shopify capital I was able to use that,money for marketing the next day which,and that's me being in sales and,marketing myself I just content I love,doing this content creation and I love,directing people to especially anything,about money and financing that's why I,said the channel up guys but um you,definitely need to Market your channel,the good thing about YouTube guys here's,a hint you can set up a YouTube channel,and all you need is one video to go,viral,and the video can make you a lot of,money,if you have your business website,attached to it,all right so,log into your Shopify account if you,have a Shopify Merchant and you can,apply check your eligibility and if,you're interested in setting up Shopify,account want to start e-commerce store,whatever products or service you already,have then you can just see if you can,click Start a free trial guys,all right now before I end this I'm,gonna let you know about if you guys out,there want to earn a hundred thousand,dollars per year,learning how to lead generate properly,you get targeted traffic,make sure when you go to sleep you wake,up there's more leads more sales more,income comes to your account definitely,pick up my,marketing lead generation course you see,it pinned in the comment King Haywood,Legion course click that link pick up,the course,you won't regret it it's great it's,great it absolutely works for any,business,so I had to plug that for you guys all,right gonna end it right there,King Haywood you guys stay safe out,there,[Music]