u/HeavyRifleman

I’m finally getting a clearer picture of my profitability, and a lot of the problem seems to come back to the cost of capital through Shopify.
I’ve been growing consistently, including around 160% year over year, so I tend to pay Shopify Capital off pretty quickly. That sounds good, but because the fee is fixed, paying it back that fast makes it really expensive money. Then another offer comes along, I use it to keep inventory and growth moving, and the cycle repeats.
I’m trying to replace it with a more traditional business loan or line of credit. I’m planning to start with the local credit union I already use personally, and I’ve also seen people mention Chase business lines of credit. I use the Shopify credit card too, which is useful for some things, but carrying a balance is expensive and doesn’t really solve the cash flow problem.
For anyone who has actually gotten out of this cycle, what did you replace Shopify Capital with? Did you qualify mostly based on the business, or did the lender still rely heavily on personal credit or collateral? Did you stop taking Shopify Capital completely, or phase it out over time?
Mostly looking for real experiences from other store owners, especially anything you wish you had done sooner.