Shopify Capital Originates $1.5B in SMB Loans and MCAs in Q3, Shares Delinquency Data

Shopify Capital originated $1.5 billion in small business loans and merchant cash advances in Q3, putting the company at $4.3B for the year so far and already ahead of 2025’s full-year total.

This data came from their quarterly report:

The following table presents the delinquency status of the gross amount of loans and merchant cash advances by year of origination. The delinquency status is determined based on the number of days past the contractual or expected repayment date for which the Company anticipates to receive the amounts outstanding. The “current” category represents balances that are anticipated to be repaid within 29 days of the contractual repayment dates, or are anticipated to be repaid within 29 days of the expected repayment date.

91.1% of their deals are current while 6% are more than 180 days delinquent.