ShopKeep Capital by Lightspeed

ShopKeep Capital by Lightspeed is a safe, easy service to get the funds you need to grow your business. We offer eligible merchants the opportunity to request a cash advance that can be used towards a variety of business needs, such as purchasing inventory, building a new business website, hiring new employees, investing in marketing initiatives, and more.

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Frequently Asked Questions

What is ShopKeep Capital by Lightspeed ?

ShopKeep Capital by Lightspeed is a service in which select Lightspeed Retail merchants can request cash advances. The service provides capital upfront (purchase price) in exchange for a business’s future credit card sales revenue (purchase amount).

Why use ShopKeep Capital by Lightspeed?

Merchants are not subject to fixed monthly payments but enjoy a simple, seamless process, with a set percentage of the proceeds from their daily credit card sales applied to the balance until the advance has been remitted. This service helps small business owners overcome one of the largest challenges that stands in their way of growth – lack of easy access to capital.

Check out our ShopKeep Capital by Lightspeed blog post for more information.

What can I use the cash advance for?

If approved, you must use the cash advance in a way that helps your business. You have flexibility to use the funds in a variety of ways to help your business including replenishing inventory, upgrading equipment, running promotions, or developing your website.

The advance cannot be used to pay off personal debt or any personal expenses.

Am I eligible?

Eligible merchants will be able to apply directly from BackOffice. Please see our Request ShopKeep Capital by Lightspeed section below for more information.

If a Capital page appears in your BackOffice without an offer, your business is not yet eligible for funding. But keep an eye out, as we update eligibility requirements regularly and you could see an offer soon.

If you have questions about your eligibility or the amount you are eligible for, please email us at [email protected].

How and when is the Purchased Amount delivered to Lightspeed?

For ShopKeep Payments by Lightspeed merchants, 11% of your MasterCard and Visa credit and debit card sales are withheld from your daily batches until the full balance of the advance is remitted.

For Lightspeed Retail merchants using third party processors, 11% of your daily credit card sales are taken directly from your business bank account via ACH.

Can I apply for an amount larger than the advance listed in BackOffice?

Eligibility is determined using a number of factors related to your business, and the initial offer found in BackOffice is generally not adjustable.

Please reach out to us at [email protected] if you have any questions on eligibility.

Is this a loan?

No. Lightspeed Retail provides a merchant cash advance which is not a loan.

A merchant cash advance is a purchase of future receivables at a price less than the amount expected to receive. A cash advance is remitted as a percentage of income on each future sale. A loan is borrowed money that is paid back according to a set schedule, by a certain deadline.

Is there a payment schedule?

There is no set payment schedule or contract period as this is a merchant cash advance not a loan.

What’s the interest rate?

As this isn’t a loan, there is no interest rate.

What’s the cost to me?

Based on the amount of funds requested, there is an associated flat fee. This fee is displayed in the Capital section of BackOffice. The flat fee is paid as a part of the total of the full advance balance and is not due upfront. See our Request ShopKeep Capital by Lightspeed section below for more information.

I have an existing cash advance through ShopKeep Capital by Lightspeed, can I request additional funds?

You have the opportunity to renew your cash advance for additional capital once 75% of your active advance balance is remitted. If approved, the renewal will remain on hold until the current advance balance is $0.

To release renewal funds faster, you can pay off the remaining advance balance via wire. To do this, contact us at [email protected] with the request and we will provide instructions as well as a current statement.

My advance has been paid in full, what happens now?

If you have opted to renew for additional funding, the renewal funds will be automatically released to your bank account and the daily splits will continue.

If you have decided not to renew at this time, our team will refund any funds collected over the advance balance. Please allow up to 10 business days for the refund to be processed.

Requesting ShopKeep Capital by Lightspeed

Eligible merchants will see a Capital section and offer in BackOffice when logged in as the account’s Business Owner.
Note: Eligibility requirements are updated on a regular basis, so if you don’t see an offer in the Capital section in BackOffice, keep an eye out or email [email protected] for more information

  1. In BackOffice, select 'Finance' > ‘Capital’.
  2. Use the slider to select the amount of funds to request, then click 'Request'.

    Available amounts are based on your personal eligibility and differ for each account.

  3. Read the form and provide the needed information.

    For non-ShopKeep Payments by Lightspeed merchants, our underwriting team will reach out to you to request a voided check to verify the information entered on the request is correct.

  4. Review and acknowledge the terms outlined in each document, then click 'Submit'.

  5. Wait for an email from the ShopKeep Capital by Lightspeed team about your status.

Next Steps for Capital Requests

This section will let you know next steps once you know the status of your request a cash advance from Shopkeep Capital by Lightspeed.

If approved for Capital as a ShopKeep Payments by Lightspeed merchant:

  • You will receive funds in your ShopKeep Payments by Lightspeed bank account within 2 business days.
  • Every day, 11% of your MasterCard and Visa batch will be split and sent to Lightspeed Retail, and you will receive 89% in your bank, until the full balance is remitted.
  • The above mentioned batch splitting will automatically begin once funds are received.
  • You can view the daily splits in your AccessOne account. Once logged in select Reports, then Payment History. If you do not have the login information for AccessOne, please send us an email or contact Customer Care for login assistance.

    • If approved for Capital as a non-ShopKeep Payments by Lightspeed merchant:

  • Our underwriting team will reach out to you to request a voided check to verify that the information entered on the request is correct. Then we will ACH the funding directly to your bank account.
  • We will ACH 11% of your daily credit card sales directly from your bank account. Please ensure that there are enough funds in your account to cover the ACH.
  • Expect funds to be withdrawn via ACH from your account using the schedule below:
    On Monday, 11% of credit sales from Thursday, Friday, and Saturday.
    On Tuesday, 11% of credit sales from Sunday
    On Wednesday, 11% of credit sales from Monday.
    On Thursday, 11% of credit sales from Tuesday.
    On Friday, 11% of credit sales from Wednesday.
    If your business is regularly closed you will not see an ACH for that day. For example, if your business is closed Sunday, you will not see an ACH debit for Tuesday.

    • If not approved for Capital:

  • You will receive an email making you aware of your status.
  • If you have questions, please contact our team at [email protected].

    • Keeping your Capital Repayment in Good Standing

    In most cases, your automatic repayments process without needing any additional action on your part. If an automatic repayment cannot be deducted from your account for any reason, we will notify you through the Financial Services tab.

    Important: It is recommended that you use the same bank account for both Lightspeed Payments and Lightspeed Capital to prevent issues with repayment.

    Most commonly, repayments cannot be collected successfully due to an issue with your bank account or insufficient funds. Below is a short list of some of the most common reasons that a repayment cannot be collected:

  • Changes to the bank account on file: If you have recently updated your bank account for Lightspeed Payments, ensure it has also been updated for Lightspeed Capital.
  • Issues with direct debit: You may have made changes to your bank account preventing us from collecting repayments. Contact your bank to make changes or contact us for more information.
  • Insufficient funds: There may not be enough funds in your account to make your Lightspeed Capital repayment. Add funds to your account to continue repayments.

    • If you have any questions about your account, please contact us for more information.