The specs
Accord Business FundingShopify Capital
Product typeMCAMCA
Amount range$5K – $150K$200 – $2M (varies by store volume)
Cost (factor / APR)Factor varies by paper gradeSingle fixed fee (factor 1.10 – 1.18 typical); no APR / no compounding
Speed to fundNext-day for approved files2 – 5 business days after acceptance
Min time in business3 months3 months
Min monthly revenueFlexible — no published floor~$5,000+ in Shopify processed sales typical floor
Min credit scoreFlexible — accepts B/C-paperNo FICO pull — underwrites entirely against Shopify sales history
Products
- MCA (1st / 2nd / 3rd position)
- Embedded merchant cash advance (Shopify stores only)
Verdicts by use case
- Can actually apply (vs invitation-only) — Winner: Accord Business Funding. Accord accepts applications from any qualifying merchant and explicitly underwrites B/C-paper that other funders decline. Shopify Capital is invitation-only — you can't apply, Shopify picks who gets offers. Most Shopify merchants never see an offer.
- Cheapest cost of capital — Winner: Shopify Capital. Shopify Capital's 1.10 – 1.18 factor is well below Accord's typical 1.35 – 1.45 on B/C-paper deals. Shopify wins on cost outright when you receive an offer — Accord's pricing reflects willingness to fund harder files.
- Newer business / very short Shopify history — Winner: Accord Business Funding. Accord funds merchants with 3+ months TIB. Shopify Capital typically requires 6 – 12 months of Shopify processing history before the algorithm makes an offer. New Shopify stores are Accord-only in this pair.
- Already stacked / has open MCA / NSFs in bank statements — Winner: Accord Business Funding. Accord explicitly funds 2nd and 3rd position MCA and accepts merchants with NSFs and revenue irregularities. Shopify Capital's algorithm de-prioritizes accounts with any sign of financial stress. Stacked or stressed merchants are Accord-only.
- Capital not tied to Shopify processing — Winner: Accord Business Funding. Accord funds into your business bank account; processor-independent. Shopify Capital terminates if you pause Shopify Payments or move processors. Multi-channel and off-Shopify capital needs favor Accord.
The honest takeaway
Accord Business Funding and Shopify Capital solve overlapping but distinct problems. The right choice depends on three things you already know about your business: how fast you need the money, how long you've been operating, and whether the capital need is one-time or recurring.
Frequently asked questions
- Shopify offered me $15K at 1.13 factor; Accord offered $25K MCA at 1.42 factor — which?
- Shopify on cost ($1,950 in fees vs $10,500). Take the smaller, cheaper Shopify advance if $15K covers the actual capital need. Take Accord's $25K only if you genuinely need the extra $10K for a defensible business reason — don't borrow $10K extra at a $7K+ premium just because Accord will fund it. Shopify's repayment is also % of sales (cash-flow-aligned) vs Accord's fixed daily ACH, which adds cash management burden.
- I have $35K/mo Shopify revenue but an open MCA from 3 months ago — Shopify hasn't offered, who funds?
- Accord. Shopify's algorithm de-prioritizes merchants with detectable existing MCA debt (visible in daily ACH patterns on bank statements they review for repayment ability). Accord explicitly funds 2nd position MCA and accepts merchants with open advances. Expect a 1.40+ factor on the stack. Use proceeds to push off the existing MCA before it stacks further — single-funder consolidation is healthier than chronic stacking.
- Why would I ever pick Accord over Shopify Capital if Shopify is cheaper?
- Three reasons: (1) Shopify never offered you, and you don't have months to wait; (2) you need capital deployable off-Shopify (wholesale, retail, B2B); (3) your file profile (newer business, NSFs, prior MCA) means Shopify's algorithm will keep skipping you. Accord exists to fund what Shopify Capital's algorithm declines. If you have a clean Shopify-only operation and Shopify is offering, take Shopify every time on cost.