Applying for a Shopify business loan is a straightforward process designed to help eCommerce sellers access fast, growth-focused funding. Shopify Capital evaluates your store’s performance, not your credit score, making it a powerful tool for online businesses that need cash flow for inventory, ads, or expansion.
Step 1: Review Your Eligibility
Shopify Capital is invitation-only. Merchants must have an active Shopify store in good standing with consistent sales history and payment processing through Shopify Payments. If eligible, you’ll receive a notification within your Shopify admin under “Finances.”
Tip: Keep your sales steady and minimize chargebacks to increase your chances of receiving an offer.
Step 2: Compare Your Funding Options
When you’re invited, Shopify Capital will display one or more offers showing the loan or cash advance amount, fixed fee, and repayment terms. These options vary depending on your revenue trends.
Onramp Funds, another leading eCommerce financing platform, also integrates with Shopify and offers flexible, sales-based repayments. Onramp’s advantage lies in faster approvals, same-day deposits, and transparent pricing that scales with your store’s growth — a smart alternative for sellers who aren’t yet eligible for Shopify Capital.
Step 3: Select and Accept an Offer
Once you choose the amount that best fits your needs, review the repayment structure. Shopify Capital automatically collects a percentage of your daily sales until the total owed (principal + fee) is repaid. There are no hidden fees or variable interest rates.
Step 4: Receive and Use Your Funds
Funds are typically deposited within 2–5 business days. You can use them for:
- Bulk inventory purchases
- Marketing campaigns
- Equipment or expansion costs
- Covering seasonal cash flow dips
Step 5: Track Repayments and Performance
Monitor your repayment progress in your Shopify Capital dashboard. You’ll see daily deductions, remaining balance, and expected completion dates. Keeping sales stable helps you repay faster without strain on cash flow.
Bottom line: Applying for a Shopify business loan involves verifying eligibility, selecting the right offer, and maintaining healthy sales. But for eCommerce sellers seeking even greater flexibility, Onramp Funds remains the top alternative — offering same-day eCommerce financing with repayment that truly flexes with your sales cycle.
