Shopify Line of Credit glossary of terms

Annual Percentage Rate (APR)An Annual Percentage Rate or “APR” is the annual cost of borrowing money, expressed as a percentage. It reflects not only the applicable interest rate, but also factors in additional costs that might apply to your loan, such as fees.
Available creditYour available credit is the amount you have available for you to withdraw through Shopify Line of Credit at any given time. It'll be the difference between your credit limit and your outstanding balance at the time of calculation. Pending payments or pending withdrawals can impact your available credit.
Credit limitYour credit limit is the maximum amount of credit accessible to you through Shopify Line of Credit at any given time.
Outstanding balanceYour outstanding balance at any given time is the total amount that still needs to be repaid, and includes the amounts you’ve withdrawn but not yet repaid, and the interest you’ve accrued but not yet paid.
Pending paymentA pending payment is a payment towards your outstanding balance (whether automatic or voluntary), that's still being processed and hasn't yet been received. It can take several business days for payments to successfully process.
Pending withdrawalA pending withdrawal is a withdrawal that has been requested from within your Shopify admin, but not yet received in your connected bank account. Funds from a withdrawal request are typically received within two business days, but may take longer in some cases.
Revolving creditRevolving credit is a type of credit that allows a borrower to borrow funds, repay, and borrow again, up to a predetermined limit (for example, a credit limit), as long as the credit account remains open and in good standing.
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