Stop waiting for marketplace payout schedules and get the financing you need to grow your online business!
PIRS Capital is a leading funding platform for Shopify sellers nationwide. With our Shopify Financing Program you’ll quickly receive the funding you need to drive more sales and increase your profitability.
Once you connect your e-Commerce store we can get you an offer within 24 hrs.
Cash in Your Account
Within 48 hours after
Grow Your Business
Start focusing on growth without worrying about cash flow constraints!
✔ Owner or majority owner must be a US citizen
✔ Must have US bank accounts
✔ Have to be selling for at least 1 year
✔ Minimum sales per month has to be $15000 USD
There’s a reason so many small businesses choose PIRS Capital, a proven track record of success matters. Our culture and core values are founded on the principle of creating and maintaining business relationships with one ultimate goal – your success.
Flexible Financing up to
Rates as low as
Funding as fast as
Our team is standing by to help grow your online business!
No call centers or machines, when you contact PIRS Capital you will always get a real person looking to build a genuine relationship focused on the success of your business.
A Simple Guide To Shopify CapitalDo you think your business could grow in leaps and bounds if you had just a little funding for material, labor, and marketing? You are not alone. If you are a start-up owner, you are required to start from the ground up, and that can be even more daunting. Even if you get funding from elsewhere, will it be enough to cover all costs? What is the process? How do you pay them back? All these questions are a good place to start. E-commerce financing companies will be glad to fund your projects in a heartbeat, and Shopify is among the top providers — but there are some alternatives, too. We will answer all those questions and more in this article and break down Shopify Capital for your benefit.
Shopify Capital: What Is It?Shopify Capital finances businesses. Shopify sellers have the advantage of quick access to business loans and merchant cash advances. Compared to most other loans, Shopify Capital is very inexpensive. Even though it's not as cost-effective as other lenders like PIRS Capital, Shopify funding may be a viable option if you need a quick injection of capital for your firm. Over 300 million customers are served by Shopify, which has more than 1 million active users. Businesses of all shapes and sizes are represented on Shopify, and the company's capital can assist those businesses in expanding. To be clear, you cannot apply for Shopify loans. They will contact you based on your sales volume, value, and regularity. They don’t send out their mail through owls but they might contact you in one of two ways.
- They'll start by adding an application alert link to your Shopify dashboard. This offers you access to capital rules, fees, and the amount to be owed, as well as when you'll be qualified after paying off 51% to 85% percent of your debt.
- Or, they'll send you an email asking you to go to your Shopify dashboard and verify your funding offers. So keep your notifications turned on, and keep an eye on your emails. You don’t want to miss out on this opportunity!
How Does Shopify Funding ?If you happen to like and accept their offer, there is an application process that needs to be done. Yes, the steps don’t seem to be in order, but that’s how the ball bounces. There is minimal paperwork and no credit check; once approved, your funds are transferred to your business account within two business days. The funding offer may stand between $200 and $1,000,000. They charge no interest but a flat fee. Besides the loan balance, there is a one-time borrowing fee that must be repaid within a year. The repayment rate is a percentage of your daily sales that Shopify credit will automatically receive until you have paid off your whole loan balance. These automated payments begin two days after you receive your loan amount. During the 12-month payback period, your loan will be divided into six equal payments of 60 days each. These are referred to as "milestones." One-sixth of the total overdue minimum repayment is allocated to each milestone. If you fail to meet the minimum repayment amount for a milestone, your bank account will be charged the difference. Based on the day’s sales, the repayment can be adjusted across the month, but you will not benefit from early repayments. Their offer is valid for 30 days and once expired, you may or may not see a new offer depending on your eligibility status on the day of expiration. If you don’t see one though, don’t panic. There are other financing options for you to consider — for example, PIRS Capital. PIRS Capital finances sellers just like you, and the best part is that you can be proactive in your desire for funding. You can reach out to us! If you decided to go with Shopify’s offer, you will find “Settings” on your admin dashboard. Select “Capital” and “View funding offers.” You will find the options available to you currently. Click on “Request (amount)” and accept their terms on the pop-up window. Your next step is to add your bank details to complete your request. Don’t forget to double-check! Your request will be manually checked by the Shopify Capital team. Whether Shopify decides to modify your loan amount or reject it is their call. If they adjust the amount, you will be sent the new numbers and given time to make your final decision.
Analyzing Benefits and DrawbacksThe Shopify Capital loan program isn't for everyone. Because each store's owner has a distinct vision and strategy for their business, the available financing options must likewise vary. Before taking out a cash advance, examine the benefits and drawbacks. Let's see:
- The procedure of applying for and receiving money is fast and simple.
- For Shopify merchants, it provides an alternative to traditional finance.
- Available funding comes in a variety of shapes and sizes.
- Cash advances from merchants are less expensive than other types of quick loans.
- Reimbursement is based on the amount of money you make each day.
- The Shopify admin dashboard makes it simple to keep tabs on the status of your repayments.
- Only Shopify sellers can access this feature.
- Criteria for eligibility are not clearly defined.
- Your Shopify sales revenue is debited on a daily basis.
- A personal guarantee must be signed.
Reliable Alternatives of Shopify LoansWe’ve already mentioned PIRS Capital, let’s take a look at them and other options.
PIRS CapitalIrrespective of where you sell your goods, PIRS Capital gets you funded within 48 hours of your request. Since your data isn’t available to the company beforehand, you will have to submit an application form with the necessary details. The online application takes about 3 minutes of your time. There are no additional, hidden, or upfront costs that you have to bear. There will be no hard credit check, but you are required to submit bank statements from the previous 3 months.
PayPalPayPal offers fixed-rate small company loans. You can get an advance if you take credit and debit card payments online. Your sales will influence the status of your approval and the amount you can borrow but the good part is that it eliminates the need for credit checks. If approved for PayPal Capital, you can borrow up to 18% of your annual sales. The costs you pay depend on the loan size, daily sales volume, and sales history. Manual payments are also possible and may be required depending on your debt repayment speed.
Square CapitalSquare lets businesses accept money from clients and customers online and in person. The company is known for its superior services and POS technology. Square can handle internet businesses with offline features like pop-up shops. A loan from Square is based on the number of sales transactions you conduct through Square. Depending on your business's needs, you can choose from a variety of loan amounts. The loan amount determines your charge and Square's share of sales. Square uses your credit score when determining your payout. This could imply receiving a loan or advance from Square is harder than Shopify.
How Can You Use Your Funds?What happens now that you've secured the funding? You can do a lot with your money. Marketing activities can be increased and add a separate ad budget. If you're looking to the future, you can increase your product's scope.
Increase InventoryThere are two ways to expand inventory.
- Restocking is an option for retail or wholesale businesses. Consider adding a new product line, but this will cost money. This is useful when sales are slow or invoices are overdue. Adding a new item assures a consistent flow of funds and/or promotes future business expansion.
- If you sell your own products. Investing in more raw materials or labor will increase your output. You can also use this money to develop other products and build a brand for yourself.