Shopmonkey Capital, Powered by Stripe FAQs

Shopmonkey Capital, powered by Stripe, provides financing through Stripe Capital. Eligibility and offer amounts are determined by Stripe based on the merchant’s payment processing history with Shopmonkey.

Eligibility is determined based on a combination of factors, including overall sales volume and processing history with Stripe. Eligible U.S. businesses will receive an email if they have an offer available.

No, you’ll pay one flat fee that does not change. You won’t pay any interest on top of this fee.

Applying for financing through Stripe Capital might include a personal credit check under some circumstances, but this credit check doesn’t affect your personal credit score. If a personal credit check is required you will be notified during the application process.

After clicking the link in your capital offer email, you will be able to review the offer, and can use a slider to choose a custom amount (up to the maximum offer amount). The financing fee and payment rate adjust based on the amount you choose.

The flat fee is included in your payment total so you'll automatically pay it through a fixed percentage of your sales until the total amount is paid to Stripe Capital.

Payment is collected automatically by Stripe Capital through a percentage of your Shopmonkey sales as they are processed. Stripe Capital loans have a minimum amount due each payment period, and if the minimum amount that you pay through sales doesn’t meet the minimum your account will be automatically debited the remaining amount at the end of the period. If your loan has a fixed payment, Stripe stops withholding from your Stripe sales when you meet the fixed payment amount. The payment terms for your offer will be detailed during the application process.

For Stripe Capital loans, a minimum payment is the minimum amount that you’re expected to pay to Stripe Capital every payment period. That period will be determined during underwriting and based on the total term of your financing offer. If your automatic payments do not meet this minimum, you’ll be required to pay the remaining amount at the end of the period. You can view your minimum payment amount in the Stripe dashboard or in your Stripe Capital financing agreement.

For Stripe Capital loans, if your payments deducted from sales cover the minimum payment requirement for payment period, no action will be taken. If you have not met the minimum payment amount by the end of the payment period, Stripe will automatically debit your bank account or account balance the balance needed to meet your minimum payment. There’s no action needed on your part.

Yes, you can make additional payments or pay the total amount owed in full at any point by clicking the ‘Make Payment’ button on your financing overview page. There are no additional fees for early payment.

Once you repay the total amount owed, you’ll automatically be evaluated for a new offer. Paying early does not automatically qualify you for a new offer.

If your application is approved, you’ll see the funds from Stripe Capital in your bank account typically in as soon as 2 business days. To make sure that funds are disbursed successfully, you must set a valid bank account as your primary payout method. This needs to be done through Stripe.

Each offer is available for 30 days. After that point, your business will automatically be re-evaluated to see if you’re eligible for an additional offer.

Tax reporting is often dependent on your specific situation, so we encourage you to talk with a tax advisor to ensure appropriate accounting. In general, Shopmonkey Capital funds would not be considered taxable income at the time of receipt, and the amounts withheld to satisfy your obligations are not tax-deductible.

If you have additional questions about how Shopmonkey Capital works, you can contact our partners at capital-support@stripe.com.

For more details on how Stripe Capital works, visit Stripe’s Capital Overview.

Shopmonkey Capital offers financing types that include loans and merchant cash advances. All financing requests are subject to a final review prior to approval. Shopmonkey Capital loans are issued by Celtic Bank, powered by Stripe. Shopmonkey Capital merchant cash advances are provided by YouLend.

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