If you are not a Shopify user and don't want to transfer your website to Shopify, there are still some other ways to earn money from other suppliers. PayPal and square are the two most popular choices here.
PayPal capital
PayPal provides small business funding at a fixed fee, similar to Shopify. If you use PayPal to accept credit and debit card payments on your website, you should be able to get an advance payment. PayPal points out that approval and the amount you can borrow will depend on your sales. That means you don't have to worry about credit checks.
Like Shopify, you don't have to be panicked about paying on a weekly or monthly basis. Instead, PayPal directly deducts what you owe each month from your sales. Every 90 days or so, you give PayPal at least 10% of its revenue. You need to make sure you follow these rules and pay at least 10% of the total loan value every three months.
If you are approved to get capital from PayPal, you can get up to about 18% of your annual sales as a loan. The amount you pay will depend on the loan's amount, the percentage of daily sales, and the sales history. You can also make manual payments, which may need to be done, depending on the speed with which you repay the debt.
Square capital
Square Capital is a tool to help businesses collect money from customers and customers, both online and offline. The company is known for its excellent service and its point of sale equipment. If you need to run an online store with offline elements, such as a pop-up store, Square can meet your needs. Square's services are very similar to those of Shopify and PayPal.
Similarly, square's capital solutions are similar to those offered by PayPal and Shopify. Any company using the trading services or POS services provided by square can participate in the capital plan. Like Shopify, Square will evaluate your company and provide you with loans based on the number of sales transactions you process through Square.
There's a flat fee, and you can get funding about a day after you're approved for the loan. This makes it easier for you to get the money you need quickly. Similar to Shopify, sellers eligible for loans will be notified by email or in their management account.
You will have a variety of loan lines to choose from, depending on what your business needs. The amount of flat fee you need to pay depends on a few things. Your fees and the percentage of sales you go to square will depend on the amount of the loan.
It's worth noting that, unlike PayPal and Shopify, Square Capital does pay more attention to your credit rating when deciding how much money you should get. This may mean that it is more difficult to apply for an advance or loan from square than from Shopify.
【Source text: by report】
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