Shopify Capital glossary of terms

Definition of Shopify Capital terms

Term	Definition
Amount received	The funds you receive from a Shopify Capital merchant cash advance.
Deliver	To send funds.
Factor or factor rate	The number that the amount received multiplies by to determine the total to remit.
Fixed borrowing cost	The fee for obtaining a Shopify Capital loan.
Funding	Access to capital.
Loan amount	The funds you receive from a Shopify Capital loan.
Milestone	A 60-day period of the Shopify Capital loan term. Each milestone has a minimum payback amount that must be repaid by the milestone's end date. If you do not meet the minumum repayment amount, then the difference between your current repayment amount and the minumum repayment amount is debited from your account. Depending on your specific Merchant Loan Agreement, your loan may not have milestones. Check your Agreement to confirm the terms of your loan.
Remaining balance	The amount of the total to remit that is yet to be remitted to Shopify Capital.
Remit	To deliver money to apply against the total to remit.
Remittance	Money that is delivered to apply against the total to remit.
Remittance rate or daily remittance percentage	The percentage of your daily sales revenue that will be remitted to Shopify Capital until the total to remit has been remitted.
Total owed	The loan amount plus the fixed borrowing cost of a Shopify Capital loan. The total amount that must be repaid.
Total to remit	The amount of future sales revenue that Shopify Capital buys. This is calculated by multiplying the amount received by the factor rate.