Ottawa-based e-commerce company Shopify is launching starter loans for Shopify Capital to offer financing to merchants that are just getting started out.
Shopify Capital allows merchants to choose cash advances at different amounts, rather than providing loans.
“With the initial loan of $200 dollars, eligible Shopify Payments merchants can begin building their brand, adding inventory, or experimenting with marketing to start growing their business. A small loan can make a big difference,” the company wrote in a news release.
The e-commerce company says this move is part of its mission to make commerce better for everyone and to make it easier for people to finance their entrepreneurial ventures.