Accessing flexible funding through Shopify Line of Credit
As part of our ongoing efforts to optimize the financial services we offer, Shopify is transitioning away from its Shopify Line of Credit offering. We are no longer accepting new applications for this program. Instead, we invite our merchants to explore Shopify Capital financing which remains Shopify’s primary lending solution for fast and flexible funding to support businesses of all sizes.
Key dates and guidelines for existing users:
- Continued access for current users: If you currently have an active Shopify Line of Credit, then you will be able to request new withdrawals up until December 31, 2024, at 23:59 PST.
- Closure of new withdrawals: Beginning January 1, 2025, no further withdrawals will be permitted.
- Repayment terms: Existing balances will still need to be repaid following the original 6-month repayment schedule outlined in your loan agreement. This process will be automatically managed through scheduled debits.
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Specific repayment deadlines based on final withdrawal dates:
- If your last withdrawal is between December 1, 2024, and December 26, 2024, then your repayment schedule will conclude on June 1, 2025.
- If your last withdrawal is between December 27, 2024, and December 31, 2024, then your repayment schedule will conclude on July 1, 2025.
- Flexible repayment options: You may also opt to make manual repayments at any time to potentially decrease both the total repayment amount and the duration of your loan.