{"id":4768,"date":"2020-01-15T20:41:32","date_gmt":"2020-01-15T20:41:32","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4768"},"modified":"2022-02-24T22:50:58","modified_gmt":"2022-02-24T22:50:58","slug":"shopify-further-simplifies-the-startup-process-with-starter-loans","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/shopify-further-simplifies-the-startup-process-with-starter-loans\/","title":{"rendered":"Shopify Further Simplifies the Startup Process with Starter Loans"},"content":{"rendered":"\n<p>In an effort to enable small business startups to finance their goals and ambitions, Shopify Capital will now offer starter loans.&nbsp;<\/p>\n\n\n\n<p>Providing merchants with an initial amount of $200, starter loans are available to Shopify merchants who already use Shopify Payments. The loans are part of the Shopify Capital suite enabling other types of merchant financing, according to the company\u2019s&nbsp;<a href=\"https:\/\/news.shopify.com\/shopify-capital-lends-small-businesses-a-hand-with-starter-loans\">post<\/a>.<\/p>\n\n\n\n<p>According to&nbsp;<a href=\"https:\/\/www.forbes.com\/sites\/donnafuscaldo\/2020\/01\/14\/shopify-wants-to-launch-millions-of-small-businesses-and-thinks-200-loans-is-the-way\/#6185b9e41e41\">Forbes<\/a>, the starter loans are available to qualified sellers who sign up for Shopify and link their bank accounts, with no credit checks needed. Sellers pay back their loans as a percentage of their sales every 60 days.<\/p>\n\n\n\n<p>Merchant financing is a growing trend that keeps gaining traction and showing promise for payments providers. Many payments brands have ventured into this market segment and continue to enhance their product offering, including PayPal, Alipay, Square, Paysafe and Grab.<\/p>\n\n\n\n<p>As PaymentFacilitator has&nbsp;previously reported, many providers are drawn to lending in part because they are already so heavily integrated into their submerchants\u2019 businesses with a deep knowledge of their payments activity, they are able to offer financing without any credit checks, business plans or subsequent financial data.&nbsp;<\/p>\n\n\n\n<p>Shopify Financial Solutions Vice President and General Manager Kaz Nejatian touted the simplicity of qualifying for the loans to&nbsp;<a href=\"https:\/\/bankinnovation.net\/allposts\/biz-lines\/payments\/shopify-launches-starter-loans-for-merchants-as-low-as-200\/\">Bank Innovation<\/a>&nbsp;as one of the primary benefits of this new product offering. \u201cThe idea here is to make it a little bit easier to buy your first marketing campaign, or buy your first inventory,\u201d he said.<\/p>\n\n\n\n<p>\u201cOpen up a store, link your bank account and you qualify after the first month for your loan.&nbsp;You don\u2019t need to have a business plan, you don\u2019t have to have any sales information and you don\u2019t need to give a personal guarantee or your income,\u201d Nejatian said.&nbsp;<\/p>\n\n\n\n<p>Being an already-integrated part of the funding flow can also help recovering loan payments easier. And the fact that PFs often offer a range of business services to their submerchants can make marketing a lending product easier as well.&nbsp;<\/p>\n\n\n\n<p>\u201cShopify is all about encouraging people to start businesses in 2020,\u201d Nejatian told Forbes. \u201cWe lowered the barriers for small businesses, making it really easy to set up an online store, making it easy to ship and now we want merchants to start businesses as easily and quickly as possible.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an effort to enable small business startups to finance their goals and ambitions, Shopify Capital will now offer starter loans. <\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[35,363,480,646,658,663,793,796,828,877],"class_list":["post-4768","post","type-post","status-publish","format-standard","hentry","category-archive","tag-alipay","tag-grab","tag-lending","tag-payment-facilitators","tag-paypal","tag-paysafe","tag-shopify","tag-shopify-payments","tag-square","tag-the-payment-facilitator-model"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4768"}],"version-history":[{"count":2,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4768\/revisions"}],"predecessor-version":[{"id":8442,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4768\/revisions\/8442"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4768"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}