How to qualify for Shopify Capital

To qualify for Shopify Capital, you generally need to meet certain requirements that Shopify sets to ensure that businesses are likely to repay the advance. While specific criteria may change over time and may vary by location and individual circumstances, the common qualifications include: 1. Shopify Store Age: Your store should have been active for a certain period. Typically, Shopify looks for stores that have been operating for at least a few months. 2. Sales Volume: You should have a consistent sales history. Shopify tends to look favorably on businesses with a good volume of sales, which indicates a level of stability and cash flow. 3. Shopify Payments: Using Shopify Payments as your payment processor can be a requirement as it allows Shopify to better assess your sales performance. 4. Revenue: Shopify often evaluates your store's revenue over a specific time frame. Having a steady revenue stream increases your chances of qualifying. 5. Transaction History: A history of regular transactions can also be a factor. If you have many sales occurring frequently, it can show that your store is reliable. 6. Business Health: Shopify may assess the overall health of your business, including any outstanding debts or negative financial indicators. 7. Compliance with Shopify’s Terms: Your business must comply with Shopify's terms of service and guidelines. 8. Sales Data Access: Shopify typically requires access to your sales data to determine eligibility. As a Shopify merchant, you need to allow Shopify to review your sales history. To apply for Shopify Capital: 1. Log in to your Shopify Admin: If you're eligible, a notification will typically appear in your dashboard. 2. Review Your Offer: If you are presented with a capital offer, review the terms carefully, including the amount, repayment structure, and fees. 3. Accept and Sign: If you wish to proceed, follow the instructions to accept the offer. It’s important to note that qualification does not guarantee you will receive funding, as decisions are made based on their internal algorithms and assessments. Always read the terms and conditions, as well as understand the repayment structure before accepting any capital offer.

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