NEW YORK, United States — Shopify Inc stated on Monday it might supply money advances to small companies in Canada which can be suffering because of the affect of the coronavirus outbreak at the international economic system.

The Canadian e-commerce corporate introduced a financing program, “Shopify Capital,” which provides money advances which can be repaid thru long run gross sales. The advances would vary from C$200 to C$500,000 in line with eligible service provider.

Approval will probably be thru an internet software procedure and can take a couple of days, the corporate said in a blog post.

US-listed stocks of the corporate rose about five p.c in morning buying and selling.

By way of Ayanti Bera; Editor: Bernard Orr

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