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WooCommerce Payments + Stripe Capital

Note: This feature requires at least WooCommerce Payments 3.8.0 installed.

WooCommerce has partnered with Stripe to offer eligible businesses access to fast, flexible financing through the Stripe Capital program.

Eligibility ↑ Back to top

WooCommerce businesses are automatically reviewed for eligibility on a daily basis, and you will be contacted via email if your business qualifies for an offer. The criteria for eligibility are based on a number of factors including your transaction volume and history with WooCommerce.*

Eligible U.S. businesses will receive an email if they have an offer available. 

*Stripe, through its bank partner, Celtic bank, provides Capital loans you obtain through any offer in a WooCommerce email or dashboard message. Loans issued by Celtic Bank, a Utah-Chartered Industrial Bank Member FDIC. All loans subject to credit approval. 

Offer structure ↑ Back to top

If eligible, you’ll receive an email with your personalized offers and you can choose the one that works best for your business. Each offer will outline:

  • the financing amount: the dollar amount that will be deposited into your bank account the flat fee: the fee you’ll pay over time in exchange for the financing amount — there are no other fees and or compounding interest
  • the total amount owed: the sum of the financing amount and the flat fee
  • the repayment rate: the percentage of your daily card transactions processed through WooCommerce that will be withheld to repay the total amount owed. 

Here’s an example offer you may receive:

  • financing amount: $17,000
  • flat fee: $1,700
  • total amount owed: $18,700
  • repayment rate: 12%

If you accepted the example offer above, you would receive $17,000 in the bank account associated with your WooCommerce account within 1-2 days along with your usual payout. Stripe would then withhold 12% of your daily transaction total in addition to the usual processing fees until you’ve paid down the total amount owed of $18,700 (the $17,000 advanced plus the $1,700 flat fee). 

Repayment ↑ Back to top

You’ll automatically repay the financing over time through a percentage of your transactions according to your repayment rate. The repayment process will begin automatically 1-2 business days after the funds have been deposited into your account. The more card sales you process through WooCommerce Payments, the faster you’ll repay. There is no deadline to repay the financing and there is no accrued interest or late fees.

If you would prefer to repay faster or repay the entire outstanding balance, you can arrange to make a manual payment in addition to the withheld amounts by clicking the ‘Make Payment’ button in your loan overview page. There are no additional fees for early repayment.

Note that repaying early does not guarantee subsequent financing offers. Accounts are automatically reviewed for additional offers on a daily basis and we will reach out to you via email if you qualify for any additional offers. 

To see a daily summary of your repayment progress, see the loan overview page.

How does it work? ↑ Back to top

When you’re eligible for a loan offer, you will receive an email like this:

Example of an email receive by persons eligible for a loan offer.

In this email, you can see the offer details, the maximum amount that you can receive as an advance, the fee you’ll be paying when you decide to get the maximum offered amount, and the rate that each of your sales will be used for paying back the loan if you accept it. 

Note that the loan offer expires in 30 days, and you will receive two reminder emails of your loan offer, just in case you forget to respond.

You can unsubscribe from receiving loan offer emails if you think that you don’t want to apply to any offer in the future.

When you decide to apply for a loan, just click the View your offer button in the email. This will redirect you to the page where you can fill in the required application forms:

Clicking the "View your offer" button in the email redirects you to a page where you can fill in the required application forms.

When you click View your offer button on the loan application page, you’ll see a page where you can view and modify the terms of the loan and provide additional information to get your loan approved.

When you click View your offer button on the loan application page, this page is presented where you can view and modify the terms of the loan

You can change the terms of your loan by moving the slider and adjusting the amount you want to take as an advance. The fee and the repayment rate will change according to the loan amount you want to get, so you can choose the right amount to fit your needs.

The next page will be querying your annual income, to give us some info about your eligibility for the loan:

A page that queries your annual income

After that, you’ll be asked to review your business details, and personal details.

Review your business details page
Review your personal details page

And then you can review your application on the last page of the application process. Here you can change your loan amount to a different amount if you want, and you need to agree to the terms and conditions of the loan, the signature policy, and the terms of business partners that will provide you the service. 

Review loan details page

After submitting your loan application, you’ll get a confirmation of the submission, and your application will enter a review process. You’ll receive a decision normally within 4 business days, with possible additional information.

Submission page. Thanks! Your application is being reviewed.

Also, you will receive an email for the confirmation like this:

Example email from Stripe to inform you your Stripe Capital loan application is being reviewed.

If your application gets rejected, you’ll receive an email indicating that your application is rejected, with a reason. The email will also contain a contact email address to which you can reach out with questions. 

You can cancel your application by reaching out to us within 48 hours after the application, before it gets approved. 

If your application is approved, you’ll receive the funds in 1 to 2 days after receiving the approval email.

Example email to let you know your Stripe Capital loan has been approved.

Once your loan is approved and accepted you will be seeing new information in your WooCommerce Payments screens.

The Payments > Overview screen will contain an inbox notification stating that your loan is approved, and there will be a new box about your active loan, tracking the repayments:

The additional info box that appears on the WooCommerce Payments Overview page once your loan is approved.

The active loan overview card will track this information for you:

  • The total amount that you’ve repaid for the loan
  • The total amount you need to pay back, including the service fee
  • The repaid amount in the 60-day period
  • The minimum amount you need to repay in that period
  • The date that you’ve received the payout of the loan
  • The loan amount without the fee
  • The service fee amount
  • The withhold rate, which is cut from your sales to repay a portion of the loan
  • The day that you’ve repaid some part of your loan for the first time

Note that the repayments don’t start immediately after the application is approved by Stripe. The withholding starts 7 days from the purchases done on the merchant’s store, to ensure the loan payout is done until the first repayment is collected. So you may not see updates on the loan summary box during that period.

Also, you will see a new menu item Capital Loans under your Payments menu:

A new menu item, Capital Loans, appears under the Payments menu.

It has a similar summary card on the above stating the active loan status, and a table below, showing your past and present loans, the amounts you’ve taken, the configuration for each of them, and the dates that you’ve fully paid down your past loans. 

When you click any loan record on the table, you’ll see the transaction history page, filtered only to show transactions for that specific loan. You can see the repayments and the disbursement of your loan on this screen. Note that there may be a slight delay, up to 5 minutes, between when a charge is listed and when the loan repayment entry is listed.

Loan repayment info appears on the list of Transactions.

You can see the details of your repayments by clicking on the row. This action will display a detailed timeline of what is paid to you and what has been withheld to pay down a part of your loan, and the associated order.

The details of each loan repayment can be viewed by clicking on a particular transaction

When your loan repayments are completed, the loan summary boxes will disappear, but you will still be able to see your past loans and the loan-related transactions. This will be available until you receive a new loan offer and get approved. You will receive a notification email from Stripe when your loan is fully paid off.

An example email from Stripe received once a loan has been fully repaid.

Financing Refills 

Based on your sales and repayment rate, you may be eligible for a better loan offer, with better conditions (advance amount, repayment rate, and premium fee) to help your business grow, while you have an ongoing loan offer. This is called a “Financing refill”.

You will receive an email like this when you are eligible for a refill offer:

Once you click the “View details” button on that email, you’ll be redirected to the refill offer application page. On that page, you will be able to adjust the advance amount to the amount you wish to take as a loan, and see the terms updated in real-time according to your selection. 

When you finish your adjustments, you’ll see the same screens asking for extra information, such as your annual revenue, and personal and/or business information. After filling in the necessary information, you’ll get to the summary page. Once you’ve checked all the final terms of the loan, you can submit the application and wait for Stripe’s approval.

The approval phase usually takes 1 or 2 business days. Keep in mind that any loan offer expires in 30 days once the offer email is received. The conditions for a regular loan still apply for the refill loans.

There is more information on the WooCommerce Capital FAQ page.


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