Shopify Capital makes additional $200 million available to merchants affected by COVID-19
Shopify has added $200 million to Shopify Capital, its fund which supports its merchants with small loans, as a way to support small businesses affected by COVID-19.
Shopify Capital is currently only available to Shopify merchants in the United States, but the e-commerce giant noted that it is currently working with governments to make the funds available in more countries as soon as possible.
The capital fund was launched by Shopify in 2016 as a way to help Shopify merchants secure funding.
Shopify Capital offers starter loans to eligible Shopify Payments merchants, with initial loans of $200 in order to help merchants begin building their brand, adding inventory, or experimenting with marketing to grow their business.
Over the past three years, Shopify Capital reports that it has advanced more than $750 million in funding.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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