Shopify Funding for eCommerce Sellers
Shopify sellers face the same struggles with working capital as small businesses, while also dealing with the challenges of eCommerce. They need funding to grow on their own terms, but which solution is the best fit to scale?
While Shopify sellers have better access to funding solutions than ever before, it can still be challenging to secure the best Shopify financing option at the right time. As one of the largest eCommerce platforms in the United States, Shopify stores lay the foundation for millions of business owners–each with a unique cash conversion cycle and financial challenges. In order to find the right working capital for your Shopify business, it’s critical that you find a Shopify financing solution designed to recognize and adapt to your unique circumstances when allocating capital. That’s where Viably comes in.
No matter how your Shopify business hopes to grow, Viably has a tailor-made working capital solution to help your business scale sustainably. Plus, Viably offers an all-encompassing financial management platform, designed to save you time and money by seamlessly integrating your Shopify funding, forecasting, and banking experience. With cash flow visualizations, no bank fees, and revenue-based funding options, it’s easy to optimize your Shopify seller finances and drive growth.
What makes businesses built on the Shopify platform unique? And how can working capital help Shopify-powered eCommerce businesses grow?
What sets apart Shopify-powered eCommerce businesses? Let’s dive into what makes small businesses on the Shopify platform truly unique:
As an eCommerce entrepreneur using Shopify, you’re not just another seller in a vast online marketplace. The Shopify platform gives you the creative freedom to shape and customize every aspect of your business, from your product design to your website’s look and feel, packaging, user experience, and beyond. This makes your brand identity absolutely crucial, setting you apart from the crowd, unlike third-party platforms like Amazon. External working capital can provide you with the financing to invest in top-tier branding and a cohesive customer experience without creating financial pressure.
With greater control over your branding on your Shopify store, customers connect directly with your business when making a purchase. This connection means you own your customer data, enabling you to engage them effectively in campaigns, follow-ups, and more via email, text messages, and retargeting. It’s all about fostering long-lasting relationships. Don’t forget your Shopify store is still a small business. External funding helps you to go that extra mile for your customers, ensuring that they connect with you, the business owner, and return to your Shopify business again and again.
Shopify business owners often see themselves in the same league as brick-and-mortar retail shops or small businesses. This mindset shapes everything they do, from how they brand themselves to how they engage with customers and personalize the services they offer. It’s about creating a unique and memorable shopping experience, complete with personal touches. Shopify financing allows you to get back to what you love–investing time in building your Shopify community through human interaction– while your cash flow remains healthy.
Unlike established marketplaces, Shopify sellers start from scratch, building their products, brands, identities, and reputations. As a result, advertising plays a significant role in their spending. This includes channels like Google Ads, social media advertising, collaborations with influencers, and more. It’s all about getting the word out and driving traffic to your unique Shopify store. External funding for your Shopify store gives you the flexibility to find marketing strategies that work for your business and allow you to reach new customers and convert quickly.
In the world of eCommerce on Shopify, it’s all about seizing control of your brand, forging deep connections with your customers, and investing in marketing to make your mark in the digital landscape. It’s an entrepreneurial journey where your creativity and dedication shape the success of your Shopify business.
Why do eCommerce businesses built on Shopify need working capital alternatives?
If you’re running an eCommerce business on the Shopify platform, you’re probably no stranger to the need for a little extra financial support from time to time. Here are some scenarios where Shopify sellers, like you, might consider accessing outside Shopify funding options:
How Viably is built for Shopify Sellers
Shopify sellers have access to even greater financing options today than ever before. As eCommerce businesses have continued to expand and evolve, new financial companies have emerged with innovative Shopify capital solutions, designed to help sellers grow. These financing solutions include a wide range of subsidiaries from traditional small business lenders, online marketplaces, and independent eCommerce banking and loan offices.
Conventional lenders, including big banks, often offer traditional funding avenues similar to those for a traditional, brick-and-mortar small business. These options include business loans or a business line of credit–both of which are tailored for established small businesses which are very different from those in the Shopify community. On top of this, conventional lenders typically evaluate eCommerce businesses on outdated criteria, unsuitable for modern Shopify sellers, including business credit scores, credit histories, and collateral. While these requirements may have been easy for traditional small businesses to fulfill, Shopify sellers often rely heavily on cash flow for inventory financing–making old school paperwork hard to come by.
In contrast, emerging eCommerce and Shopify capital alternatives, including online funding platforms, provide the Shopify community with funding solutions expertly designed to support growing eCommerce businesses. These working Shopify capital solutions prioritize criteria more relevant to Shopify businesses, especially emphasizing cash flow, projected revenue, and Shopify user sales history. Quick approval and disbursement for Shopify business loans are key features for sellers, ensuring that they can access funding solutions efficiently and maintain a healthy Shopify balance.
Shopify options for sellers tend to fall into three main types of plans or strategies:
Term Loans
These involve substantial upfront sums repaid over an extended period of time. This model includes fixed-term eCommerce loans, such as Shopify business loans.
Line of Credit
While flexible, outside of credit cards, this type of eCommerce business financing is often challenging to secure, expensive, and comes with a cap on usage.
Working Capital
Typically short-term business financing, spanning 3-6 months, with modest rates, designed to meet immediate operational needs of Shopify users.
What are the terms like?
With Viably Growth Capital you can get up to $1,000,000 to grow your eCommerce business.
With affordable fees and flexible repayment schedules. At Viably, we can align with your inventory refresh cycle. Need a different term? We’re happy to work with you.
What's important to Shopify sellers in their cash flow cycles?
Depending on the particular challenges of your Shopify business, you’ll likely need varying funding amounts at different stages. Whether you’re looking for a lump sum upfront to make growth investments or periodic cash flow boosts to improve your seasonal financing strategy and take advantage of unique opportunities, Viably offers a funding solution that fits your eCommerce business. No matter how you plan to scale, greater access to Shopify capita gives you more flexibility and agility when running your Shopify business.
Grow even faster with Viably
Inventory purchasing and product launches may be top of mind when you’re seeking funding, but Viably’s Growth Capital can be used for any business expense – use it to refinance expensive debt, grow your advertising strategy, or hire help.
A better way to plan your growth
Viably is an all-in-one banking platform for eCommerce sellers and includes:
– Business checking account and virtual cards
– Automation of your back-office tasks
– Sales planning tool to forecast cash flow needs.
– Integration with your entire tool stack
What our customers say
Finding an eCommerce banking partner
Michael needed to find a funding solution that had a transparent funding structure, didn’t have huge fees, and was interested in a longer term partnership.
Mike D’s BBQ
Better financial planning and cash flow forecasting helps Mike D’s BBQ put more sauces and rubs in the store and open a new brick and mortar restaurant.
Changing how eCommerce views debt
Not only did Michael feel confident and trusting of the company though, he also found Viably’s tools and resources to be incredibly helpful to his business.
The Future of Shopify Funding: An all-in-one Banking Experience
As the eCommerce funding landscape has continued to evolve, service providers have worked hard to “decouple” financial management and provide highly specialized tools for each step of the process. However, this creates a new problem for Shopify sellers when it comes to streamlining their financial operations. When cash flow and expense management, banking, and Shopify financing tools are all located in separate applications, sellers are forced to spend time and energy manually transferring data.
Imagine having a complete picture of your real-time cash flow right at your fingertips. Even better, picture being able to simply tap a button and receive offers for adjustable working capital to help grow your Shopify seller business based on all of that data. That’s why Viably created our all-in-one banking experience for Shopify sellers.
Viably offers a fully-integrated business checking account for all of our customers, offering fee-free banking, digital debit cards, and seamless integration into our forecasting and expense management tools. Use this suite of resources to pay suppliers, track purchases and categorize them for an easy tax season, view your cash flow growth, and apply for a boost of Shopify working capital all in one user-friendly platform.
Thanks to your connected Shopify user account, our underwriters can present you with up-to-date offers as often as you’d like. And, best of all, use insights from the most comprehensive picture of your Shopify balance and the financial health of your account to make data-driven decisions.
How Shopify Sellers can get funded
Viably makes managing your finances fuss- and stress-free. Strategically and proactively find ways to manage your money with Viably, so you can simplify how you run your business or find opportunities to grow your capital. No financial background is necessary when it comes to managing your cash flow with Viably. Our all-in-one digital banking solution is designed to help merchants plan, forecast, and manage their eCommerce finances.
If you have any questions about our business financial management solutions for Shopify store owners, email us today to get the conversation started.
Apply
Tell us about your eCommerce business.
To start your Viably funding application, simply tell us a little bit about your eCommerce business.
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Securely connect your marketplace & bank.
Bank accounts, QuickBooks, and anywhere else your data lives, you can connect in minutes.
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Receive customer funding offers.
You can choose the offer that meets your needs, and grow your business with our free cash flow insights and projections.
