Choose your own spending adventure with real purchasing power.
You know what your business needs better than anyone. Spend where you need and stop worrying about declined transactions and overlimit fees
Go On a Morning
Anything at all!
Get up to 55 days of interest free purchasing (25 days longer than your average credit card).
Because Loop connects to your ecommerce platforms, you will always have access to the capital you need.
You can use Loop Card anywhere Mastercard® is accepted. You just have more countries where you can spend like a domestic card. As a Mastercard product, you are able to seamlessly pay a supplier, make advertising purchases, or use it for any other business expense internationally.
You can sign up for and activate your Loop Card in as little as 10 minutes and start using your virtual card right away. If you request a physical card, it typically takes around 3-5 business days to arrive by mail.
Your Loop Card credit limit with automatically update on a monthly basis. If there is a change to your credit limit you will be notified of the value of your new limit.
The credit limit you are granted will depend on your business’ performance over the past several months. Your credit limit will automatically scale every month to make sure that your limit is sufficient for you to pay for all of your business expenses with Loop Card.
The interest-free period Loop offers is about 15 days longer than a traditional business credit card you might see from a bank. For example, if your statement is from January 1 to January 31, you’ll have until February 25th to make your payment (whereas with most bank credit cards your payment would be due around February 10th). With almost all credit cards, interest accrues on each purchase from the date of the purchase but you can avoid any interest being charged by ensuring that you always pay your balance in full every month by the due date - Loop uses the same premise, but give you the extra days to repay to make sure you can avoid any extra charges (cause they can really add up).
Yes, both the physical and virtual cards work with all the major ad platforms and can be used for both USD and CAD spending.
No! The Loop Card will not appear on your personal credit report but will instead help you build your business credit. This is especially valuable if Loop Card is the first business credit product you are using. Loop Card is a real corporate card, it doesn't require you to pre-load with cash, pre-load funds and it doesn't require any cash security.
Loop Card does not require any cash collateral (such as making you purchase GICs). Since Loop Card is a corporate card, the security we take is a general security registration on business assets (eg. inventory, cash and receivables). Additionally, we do require a personal guarantee for companies with less than $10M in Gross Profit, however Loop Card is NOT a personal credit card and doesn't show up on your personal credit report.
No, the first version of our product is free. Better yet, there’s no annual commitment so you can cancel your card at any time as long as you pay any outstanding balance in full.
Loop connects to your sales channels so that we can actively monitor and analyze your growth in real-time. This ensures that your credit limit is automatically scaling as your business’ spending needs increase. Businesses can be eligible to access up to CAD $50,000 automatically while higher limits may be offered on a case-by-case basis. If you're a larger business and need a higher limit tailored to your unique needs, please send us an email to email@example.com.
Purchase in multiple currencies without converting. Earn points on everything. Get super flexible spending.