Shopmonkey Capital, Powered by Stripe FAQs

Shopmonkey Capital, powered by Stripe, provides financing through Stripe Capital in partnership with Celtic Bank, Member FDIC. Eligibility and offer amounts are determined by Stripe based on the merchant’s payment processing history with Shopmonkey. Shopmonkey facilitates access to these financing options but is not the lender.

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.

No, there is no personal credit check. All offers are based solely on your history with Stripe.

You can use a slider to choose a custom amount (up to the maximum offer amount). The financing fee and repayment rate adjust based on the amount you choose.

You’ll automatically pay the flat fee via a percentage of your sales until the total amount owed is repaid. The fee is not charged up-front.

Repayment is collected automatically through a percentage of your Shopmonkey Payment sales, which means you pay down more when business is busy and less if things slow down. As long as you meet your minimum payment requirement every 60 days, what you pay each day adjusts to your sales.

A minimum payment is the minimum amount that you’re expected to repay every 60 days, ensuring that the maximum duration of the financing does not exceed 18 months. If the total amount that you repay through payments deducted from your sales in a 60-day period falls below the minimum payment requirement, you will be required to pay the remaining amount at the end of the period. You can view your minimum payment amount in your financing agreement.

If your payments deducted from sales cover the minimum payment requirement for the 60-day period, no action will be taken. If you have not met the minimum payment amount by the end of the 60-day period, your bank account will be automatically debited to satisfy the minimum payment. There is 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 repayment.

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

If your application is approved, you’ll see the funds in your bank account typically in 1-2 business days.

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.

No. Shopmonkey is not the lender. Shopmonkey Capital is powered by Stripe, and financing is offered through Stripe Capital in partnership with Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Shopmonkey does not extend credit or issue loans.

Financing is provided through Stripe Capital and issued by Celtic Bank, Member FDIC. Shopmonkey simply facilitates access to these offers through Shopmonkey Payments.

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.

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