how to get shopify capital

some people like to be like ah i saved,my money i use all my money,good for you,hey slave bags we back with another,video y'all know i like to jump right,into it so we're going to talk 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 analytics 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 automatically come out before i,because it literally they get their,money before i get mad type situation it,literally comes out automatically 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 this is only a,service or a benefit on shopify that is,for,united states,merchants only unfortunately i'm,thinking that hopefully in the future,they can but i think it's more so,because,um the difference of rate of uh you know,a currency i think that's what the what,the issue is i'm just assuming i'm not,for sure but that's my assumption on why,they probably don't go to other,countries because our money is not this,on the same currency,so now i'm going to show you my,oh i've never done this before oh i've,done it like in a private group or,whatever but i'm going to show you guys,my shopify capital,um journey it has been,something else i never in a million,years thought that i'd be able to get,any type of business loan without having,to do all this rigmarole and and,headache and everything going to banks,and stuff like that i never thought i'd,be in this position and most of the time,probably some of the curt the one i'm,currently on i have paid them off and,i've been paying them off in half the,time they allow me i usually always go,over above,you know expectations of what they want,and so when you do that they offer you,more money so let me show y'all real,fast,so my first loan was december 4th 2019.,um it was for 550,i finished that loan april 17th,um they offered me another loan,it started april 28th now what happens,is they have milestones either 50 or 75,uh completion will have them reevaluate,your um,your website and they may offer you more,money before you complete it so if you,got to the 75 85 realm they'll say hey,you've been doing so well you're on the,right track we will give you more money,before you finish and it doesn't that,repayment doesn't start until the first,one is finished which is phenomenal,um so i believe this one i was offered,another 330 30,um that started april 28th i paid that,back may 22nd so in 30 days i paid that,money back um and but it took me four,months to pay back the the first one,so then we go to um may 26 they offered,me 750,which i paid off may june july within 90,days,um,and so as you can see,from seven hundred and fifty dollars i,went to thirty one hundred dollars and,that was november fourth i mean i'm,sorry that was july 31st 2020 and i paid,that loan off november 4th so that one,took me a little longer it took me maybe,like what's that five months to complete,but then you see i got another loan,november 4th um i wish i could see when,i was offered the loan like i said most,of these overlap,um,but they don't start like i said they,don't start until you finish the one,before so november 4th they offered me 2,000,november 22nd it was paid so that's not,even a full 30 days i paid back,the 2 000,plus the 3100 i may have had,um,so you can see i got four loans in the,course of a year and they used to give,you a year to pay the entire loan so i,was kind of like on a fast track um as,of november 20,i mean so then we get the 4700 november,20 uh 22nd,and we took four months to pay that back,in april 2021 and at this time y'all,know we was in a pandemic so for my my,um,well i can't talk for my how to line and,still be doing well during the pandemic,i thank god um i was able to survive it,and still be able to pay this loan back,as well with whatever other bills i had,so it definitely was a big help,um so we left off november 22nd to april,20th i was giving forty forty seven,hundred dollars,so we say that was maybe about five,months um and then i was giving,800 on april 20th that i completed july,2021 so that's four to seven that's,about 90 days that i was able to pay,that seven thousand dollars so just,imagine you probably can almost,calculate if you're good at math you,probably could calculate what my sales,were based on how fast i was paying,these loans off because 17 of my sales,i almost just calculated 20 because the,processing fees three three to five,percent and stuff like that so really,depending on what the percentage was i i,tacked on another three to five percent,because i had to pay processing fees,um,so april to july i paid off 6800 i got,my next loan of twelve thousand dollars,um on july 20th,and uh i finished it in january so that,was about seven months that was a little,longer and most of this was because my,inventory was low a lot of time i was,sold out and people come to my site and,we waited and waited and waited and,waited and waited um,that's gonna be another video we can,talk about,inventory control,um how much i'll be ordering how to find,a hot tube vendor all those things we,definitely could talk about um,but that one took me a little longer,most of the time it takes me longer,because i don't have inventory i'm not,gonna lie it's usually not the sales,well i guess it is the sales but usually,it's because i don't have inventory in,stock so i miss out on a whole lot of,sales because i don't have it um and so,then the next one i had was in,um january 19th of 2022 which was 9100,and i paid that off within,this was five or six months um and then,this last one i get is the biggest one i,could not believe they had offered me so,much they offered me thirty thousand,dollars like i never thought in a,never thought that my website would be,doing well enough with somebody will,offer me thirty thousand dollars for me,to be back into my business so some,people like to be like ah i saved my,money i use all my money,good for you,maybe i'll be with somebody else buddy,to come up okay because at the end of,the day majority of me and my peers we,don't come from money so for somebody to,invest in me a pure stranger out the,scout computer whoever it is that,believed in me look i'm gonna take guys,i'm gonna take guys blessing to keep it,moving and do what i'm supposed to do so,they can give me some more money and,give me some momentum give me some,moment now i've seen some people's off,i've seen the offer i think the highest,offer i've ever seen because i see,people posting it's like a hundred,thousand dollars but i'm not sure what,the payback is what the percentage a lot,of times that's what scares people they,think the percentage that they're,offering is an interest rate and it's,not please get the outro mind there is,no interest rate it's a flat rate and i,feel like it's a very good low of a very,low flat rate that makes it work but,like i'm gonna try to see,um,how much of my,last loan okay so my last loan wasn't,thirty thousand i'm so sorry that's what,i have to pay back my last one was,twenty seven thousand and i have to pay,thirty thousand five hundred back so of,the 27 or other 30 i have to pay back,about,3 500 goes back to them,on the loan which is,somebody be good at math i don't know,how to figure it out but tell me what,that quote-unquote interest rate i guess,would be,uh,if we were to calculate i don't know how,to if somebody in the comments if,somebody's good at math they can go,ahead throw it in there that'll be,fabulous but i don't know what it comes,to be but i'm pretty sure like i'll be,looking at my car interest rate and i'm,look if we look at those interests right,you know they're gonna we don't be,pitching the uh principal the first,couple of years so,most of the time if you're doing what,you're supposed to do you're gonna pay,that off,fast every time especially if you could,pay it off before that year they're,gonna give you some more money they're,gonna give you some money regardless as,long as they're gonna i gotta say,regardless but for the most part they're,gonna get as long as you're having,continuous sales they're gonna continue,to give you money to help you grow,because the end of the day the platform,is what pays the bills so as long as i,have a functioning running store and,somebody's helping me be able to because,you can use the 27 000 to um,get hire some help inventory like you,can do a number of things with it um,but make sure y'all can pay that money,back okay like let's just pay these,people today money bait don't try to,duck and dodge them i don't even know,how to dunk a dodger because end of the,day they have your bank account,information for you to get paid when you,get a sale so i don't,i ain't trying to do none of that scam,and stuff so don't ask me how to get,around it please don't try to get around,it ruin for us entrepreneurs the,upcoming entrepreneurs that need to help,to get inventory because this shopify,capital is what really,took me to the point where i could,afford inventory like it would if it,wasn't for shopify capital i wouldn't be,able to have custom,curling irons and stuff like that,because,like that's a whole nother conversation,i'm sorry to be rambling but i'm just,like so grateful that god put me in this,position to be able to know what to do,with money how to flip money now i ain't,gonna lie i'll be bad with money,sometimes because baby money comes in my,hand so fast i feel like i'll be,spending it faster than i'd be making it,but i'll make it work and we gonna do,better i thought i'm gonna do better,with my budgeting but nonetheless,shopify capital,has done amazing things for me and i'm,pretty sure it could do amazing things,for you but it may have been a fear it,may have been lack of information,because the website is kind of vague i'm,not even gonna lie like when i went on,there to do my little research to be,able to people report right report to,y'all it was really vague and i'm like,let me make this video to kind of make a,plan to get my girls together because,it's live baby come get this money okay,let's go buy some inventory let's be,able to invest in marketing let's be,able to get logos and let's get this,money like i'll be trying to get y'all,to get this money okay and if somebody,want to give me a couple bands and i,gotta pay you a couple hundred dollars,i'm cool with that i'm cool with that,because i've been in worse deals so,y'all better use these people bunny and,that goes to getting the business credit,card and all the other stuff you look we,could go on and on about capital but to,me this is the easiest way and i i know,for sure square does it,but i think that's more so for in person,because i've gotten that same same type,of deal when i had my salon and i was,doing in-person transactions and they,they have never given me this much,but they've definitely gave me like i,think the most high mod i got from them,is like six thousand um and that was,because it was based on the sales that i,received in the salon so there's,multiple ways to have i'm not sure,anybody else or what their,requirements are but i know there is,ways to get money based off sales so,please take advantage,and get this money okay if y'all have,any questions comments or concerns,please leave them down below i will,answer them or i will make another video,i appreciate you tuning in i feel like i,was wrong for a long time but there was,a lot to give y'all until next time see,y'all later

Congratulation! You bave finally finished reading how to get shopify capital and believe you bave enougb understending how to get shopify capital

Come on and read the rest of the article!