Get Capital For Your Micro Business: Lessons From New Origin Shop

As a micro business owner, I know firsthand the importance of securing adequate funding to grow and sustain a business. Capital is essential for business growth, allowing investment in inventory, marketing, equipment, and more.

That's why I am excited to share two effective funding options that have worked for New Origin Shop. You could benefit from this type of funding—whether you're a maker, micro-business owner, or budding entrepreneur planning for your 2024 business goals.

Option 1: Shopify Capital

One of the funding sources I have successfully used is Shopify Capital. This program offers funding based on your Shopify store's sales history. I appreciate the simplicity and speed of Shopify Capital, as the application process is straightforward, and decisions are typically made within minutes.

This quick turnaround is particularly helpful for businesses that require immediate funding. I have used Shopify for my online webshop and in-person and brick-and-mortar POS for years.

Key Shopify Capital Features:

• Provides funding ranging from a few hundred to several hundred thousand dollars.
• Lending decisions based on your store's sales history on Shopify.
• Repayment through a small percentage of daily sales is more manageable than fixed monthly payments.

Option 2: QuickBooks Capital

Another funding option I have explored is QuickBooks Capital. Like Shopify, QuickBooks Capital bases its lending decision on your business's financial history within its platform.

The application process is simple, and decisions are made rapidly, often within minutes. I also utilize QuickBooks' virtual bookkeeping services for New Origin Shop.

Key QuickBooks Capital Features:

• Provides loans up to a specific limit based on your business's financial health.
• Easy application process with rapid decision-making.
• Repayment through fixed monthly payments.

My Preference? Shopify Capital

While both Shopify Capital and QuickBooks Capital are fantastic funding options, I slightly favor Shopify Capital due to its repayment method.

Shopify deducts a small percentage from daily sales, which aligns better with my cash flow.

On the other hand, QuickBooks Capital has fixed monthly payments—which can be inflexible for some businesses.

Takeaways

The right funding source is critical to your business's growth and sustainability. Shopify Capital and QuickBooks Capital offer unique advantages, especially for companies already using their platforms. Their ease of application and quick decision-making process significantly benefit micro businesses.

Remember, choosing the right capital source can be a game-changer for your business. I wish you the best of luck and a prosperous 2024!

---

*Note: This blog post is based on personal experience and does not constitute financial advice. Always consult with a financial advisor before making significant business decisions.*