Shopify Business Loan Review: What You Should Know
Shopify is a Canadian multinational e-commerce company. The company also offers loans to businesses. The company website is www.shopify.com. They are headquartered in Ottawa, Canada and can be reached at 844-922-2555.
Shopify Business Loans Pros and Cons
On July 21, 2023 a review on Shopify Business Loans was conducted by investopedia.com. According to this review Shopify offers quick funding and flexible payments on their business loans. On the other hand, Shopify Business loans have limited availability, may be very expensive, and require daily payments. There have also been complaints about the lack of transparency by Shopify. Information from this review was taken on August 21, 2023.
Shopify Business Loans Cost
According to unitedcapitalsource.com, another site that reviewed Shopify Business Loans, Shopify does not charge a standard interest. Instead, they charge a set borrowing fee called a factor rate. The factor rate is either 1.1 or 1.13. The rate you receive depends on your borrowing amount and the strength of your business. Information from this review was obtained on August 21. 2023.
BBB: Shopify Business Loans Review
The Better Business Bureau is a nonprofit organization that collects and provides free business reviews to consumers and businesses in the US and Canada. You can visit the Better Business Bureau website to view the full Shopify Business Loan review. As of August 21, 2023, Shopify is not rated on the BBB website and has no customer reviews.
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