when you pay off shopify capital do they offer you more money

what's up y'all so shopify just offered,me 23 000,with the click of a button the money can,be in my account so in this video what,we're going to talk about does shopify,capital make sense for your business,what is shopify capital and the pros and,cons of shopify capital so check this,out right here 23 000,right there so the smallest offers 13,the biggest one's 23. should i take it,does it make sense i don't know stay,tuned let's figure it out boom,what's up y'all let's talk about this,money so shopify capital what is shopify,capital does it make sense for your,business and how does shopify capital,work so i've been using shopify for,several years and in a nutshell what it,is is they're extending you working,capital off of the sales of your,business and what they'll do is on your,daily sales they will pull money from,your account to pay for that shopify,capital so they definitely take the,money aggressively but it definitely has,the pros and cons so let's go over all,the pros and cons of shopify capital,shopify capital gives us money too i'm,gonna read what they actually put in the,verbiage right here to buy inventory,invest in marketing and get your,business ready for black friday cyber,monday 2020 with funding from shopify,capital no paperwork no credit checks,the guesswork is not required because,they already see your sales and they're,going to handle everything and they're,pretty much extending working capital to,us,making it very simple so that's the,catch so i want you guys to pay,attention to how exactly shopify reels,us in i've talked to several shopify,owners and the reason why they all love,shopify is because if you've ever taken,out a traditional conventional business,loan they want to see tax documents they,want your blood work they want to know,your first child's name they want to,know everything about you but with,shopify it's literally a click of a,button,that was easy so before we dive in and i,show you my offers that go from 13 000,to 23 000 we need to talk about the,percentages and how they affect your,bottom line because technically it's all,about your bottom line and they make it,so easy to take the money that if you,don't do the calculations you can make,this loan a cash flow killer so i wanted,you guys to pay attention to that we're,gonna dive into the screen share right,now so i can break those numbers down,for you guys i'm jumping into the screen,share right now so that you guys can see,how exactly these numbers are broken,down so here's my shopify store they've,extended me some capital um so let's,look at the offers let me join in with,you guys real quick so let's look at the,offers i have three offers from shopify,right now for 13 000,for 19 000 and for 23 000 so it's like,wow all this money that i could easily,get with the you know literally by,clicking the button if i click request,shopify and accept this money this money,is hitting my account in the next three,business days so i wanted to break down,how exactly shopify capital works,because if you see,it's thirteen thousand dollars they want,ten percent of daily sales which will,break down to fourteen thousand dollars,that's for one loan and you can see the,next loan they have the same different,they have different breakdowns and they,seem so little fourteen percent we're,going to give you nineteen thousand,dollars and we only want twenty thousand,nine hundred and then the big offer,twenty three thousand they want,seventeen percent of your daily sales so,what we're going to do right now is,break those down i wanna show you the,type of sales that i normally do so,let's see if i can refresh i'm doing,anywhere from,um fourteen hundred dollars to two,thousand dollars a day,i don't know why shopify is not okay,here we go so yesterday you can see we,did 1400,and then for the week so far you see,we're at 4200 and today is wednesday so,that's kind of how that breakdown works,2000 on the 23rd,1400 and then i had a drop on the 25th,when i was redoing my ads,so if i'm doing,if i'm doing 15 hundred dollars a day,doing the math i'm gonna pull out the,calculator for you guys,all right so fifteen hundred dollars a,day in sales,i'm gonna take out ten percent that's a,hundred and fifty dollars that's going,to come out of you guys account every,single day if i keep my sales consistent,at fifteen hundred dollars the reason,i'm breaking this down is because i want,you guys to understand yes the loan is,easy but how it can be a cash flow,killer if you don't use the money,directly associated with your business,so at 150 a day,monday sunday to sunday not just,business day sunday to sunday they're,taking the money,that equates to,one thousand and fifty,dollars,of funds that they're going to get every,single week,times four weeks,four thousand two hundred dollars a,month on a conventional loan if your,credit is good and everything's going,well i would assume that you know on,thirteen you know thirteen thousand,dollars for that ten percent loan you,would probably be paying anywhere from a,hundred to two hundred dollars a month,so let's break down the pros and cons of,this situation right here,conventional loan i'm gonna put it on,this side conventional loan,low monthly payments controlled monthly,payments,but the time of the loan,will be,long you'll be dealing with this maybe,for a year two years however long you,extend that and the interest that you,know they put on top of it also another,con you'll be paying more interest,overall on the conventional loan over,here,pros,controlled spending i understand how,much i have to pay so now let's go over,here to the shopify side so the shopify,side what's cool about it is let's talk,about a pro the pro with the shopify,loan is that it's easy no paperwork no,taxes that you have to do on the other,side it's just a click of a button and,they're giving you a loan extended on,what they see your sales and what they,feel that you can pay back you don't,have to make the payment they're taking,the payment let's break down to a con a,con of the shopify loan because i've had,several of them before is the cash flow,killer the aggressiveness that they are,taking the money their money is coming,out every single day and a lot of times,we won't just get the 10 loan we'll get,the biggest loan so at 23,000. right here if i take that loan and,they want seventeen percent of my daily,sales let's say i stay consistent at,fifteen hundred times seventeen percent,that's now two hundred and fifty five,dollars a day of cash that i'm losing,that could be going towards the,operation of my business so when i,multiply that times seven,that's,almost eighteen hundred dollars a month,i mean a week that could be going,towards paying somebody or could be,going towards other things in my,business multiple just got to sell y'all,multiply that times four,that's how much money a month that they,would be getting from me until that loan,is paid off the issue with the shopify,capital to me personally is just the,cash flow killing that it can do to your,business,so to break it down because i don't want,to sound like you know a negative nancy,shopify capital has been good in several,instances to my business,the time that it has been good to my,business is when i took out a 10 loan,i took out the smallest amount and i,directly use those funds to purchase,um you know materials for my business so,those materials were getting used into,every single shirt that was purchased,the loan was only for 3 600 and i paid,it off within one month i almost didn't,even know i had the loan and that was a,great situation,now i've had a bigger loan before that i,took out at the highest percentage and,the cash was always gone it was always,depleted from my operational account and,that's something that you don't want to,go through because from my experience to,you guys and just teaching people about,shopify that can definitely be um,hindering,to the things that you need to do in,your business to paying people that you,need to pay for your business so i just,wanted to break those numbers down for,you guys short video i want to talk,about the pros and cons of your,conventional loan versus your shopify,loan and if you do take the shopify loan,um,how to use it in the right way so before,we end let's just show you guys one more,slideshow i'm actually going to take the,10 percent loan for 13 000 and do a,update later to show you guys how i use,it for my business and how it did not,hurt my business because i've seen it in,both ways and i want to share that,experience with you guys my youtube,family so let's jump into the screen,share for this one,all right guys i'm about to pull the,plug um here's some other offers that,i've just to show my experience i've,taken 3 600 before i started on june 9th,of 2020 completed it july 11 to 2020,right over one month and then here's,another one i took 11 000. took that in,july,the 15th and i did not finish this one,until october 28th,so those are just two things but when i,look at my options right here i have 13,000 and i'm going to take this money,y'all just to show you how it works,because i understand how to control the,funds but i want to show you guys how,exactly this works so i'm gonna take,thirteen thousand dollars ten percent of,my daily sales until i've remitted,fourteen thousand forty dollars so,they're gonna make a thousand and forty,dollars on top of this loan and they're,going to make it quick because black,friday cyber monday is this weekend so i,will update you guys on that request 13,000,accept terms,it says your request for thirteen,thousand dollars is now being reviewed,you requested funding on this date and,then after once you see this guys,they're always going to give you the,money once they see it if i go to my,home page now,um and i go to my offers view funding,offers,now that twenty three thousand dollars,is no longer available because i took,the thirteen,and the reason why i think it's best to,you just have to do the math y'all like,ten percent i said that you know i can,afford paying the 105,a day to pay this off but at 17 on the,23 000 i had to factor in the longevity,of the 23 000 which may be three months,that takes me to pay that back and i,don't believe that it would be good for,my business to pay 255 dollars every,single day,on that money um so you definitely have,to do the math for your business please,comment below for any questions you have,regarding shopify capital i would love,to help you out with this um talk you,through what's the best situation i am,not an accountant in any sort of way but,i am a shopify consultant and thanks for,tuning in thanks for the patience thanks,for watching this y'all more videos to,come subscribe,subscribe subscribe annihilate the like,button for me i'll see y'all in the next,video

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