WooCommerce has partnered with Stripe to offer eligible businesses access to fast, flexible financing through the Stripe Capital program. Through this partnership, WooCommerce can connect you with Stripe Capital to offer small business loans originated by Celtic Bank. Stripe helps WooCommerce identify merchants using WooCommerce Payments who may be eligible for these loans, so be on the lookout for an email about eligibility for a Stripe Capital loan.
Frequently asked questions
How do you determine who qualifies for an offer?↑ Back to top
Eligibility is determined based on a combination of factors, including overall sales volume and history with WooCommerce. Eligible U.S. businesses will receive an email if they have an offer available.
Do I have to pay interest?↑ Back to top
No, you’ll pay one flat fee that does not change. You won’t pay any interest on top of this fee.
Will applying for an offer affect my credit score?↑ Back to top
No, there is no credit check. All offers are based solely on your history with WooCommerce.
Can I request a different offer amount?↑ Back to top
You can use a slider to choose a custom amount (up to the maximum offer amount). The loan fee and repayment rate adjust based on the amount you choose.
When do I need to pay the flat fee?↑ Back to top
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.
How does repayment work?
Repayment is collected automatically through a percentage of your WooCommerce 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.
What is a minimum payment?↑ Back to top
A minimum payment is the minimum amount that you’re expected to repay every 60 days such that the maximum duration of the loan 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 the Dashboard or in your loan agreement.
How do I make my minimum payment?↑ Back to top
If the portion deducted from your sales covers the minimum payment requirement for the 60-day period, no additional action will be taken. If you have not met the minimum payment amount by the end of the 60-day period, Stripe will automatically debit your bank account for the remaining amount needed to meet your minimum payment. This will occur automatically, so there is no need to make a manual payment.
After I accept an offer, how quickly will I get my funds?↑ Back to top
If your application is approved, you’ll see the funds in your bank account typically in 1-2 business days.
What happens when my offer expires?↑ Back to top
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.
Can I repay my loan early?↑ Back to top
Yes, you can make additional payments or pay the total amount owed in full at any point by clicking the ‘Make Payment’ button in your loan overview page. There are no additional fees for early repayment.
Will repaying early qualify me for a new offer?
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.
How should I report these funds on my taxes?↑ Back to top
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, Stripe 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.
Who can I contact to learn more about the Stripe Capital program?↑ Back to top
If you have additional questions about how our financing program through Stripe Capital works, you can contact our partners at email@example.com.