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Brex has been busy.
In 2018, the company launched the Brex Card for Startups, a corporate card without a personal guarantee requirement. Now, it's offering another iteration, which launched Feb. 26, called the Brex Card for Ecommerce. It offers a 60-day interest-free payment window and is aimed at companies that sell goods online and have short-term financing needs.
The Brex Card for Ecommerce was designed specifically for online businesses with at least $100,000 in monthly sales that need longer payment cycles than the 30-day window offered by the Brex Card for Startups.
"Brex saw lots of e-commerce companies signing up for its startup card (the Brex Card for Startups) but asking for longer payment terms to coincide with their ad financing and inventory financing cycles," says Michael Tannenbaum, Brex's chief financial officer, in an email to NerdWallet.
Unlike the Brex Card for Startups, the Brex Card for Ecommerce does not offer any ongoing rewards. But it can be a more appealing option for an online retailer who doesn't want to incur the interest charges from a traditional small-business loan, but regularly needs a short-term cash infusion to maintain a steady supply of inventory and advertise its wares.
Like the Brex Card for Startups, the Brex Card for Ecommerce also offers:
No founder liability. If the business fails, a creditor can't go after the applicant's personal assets.
Potentially available to someone with a thin credit profile. There's no personal credit check.
Revenue-based credit limit. Unlike traditional business credit cards that typically issue set limits, the Brex cards use dynamic models to determine your company's credit limit. In the case of the Brex Card for Ecommerce, the credit limit is based on up to 75% of projected monthly sales, up to $5 million for qualifying companies.
No annual fees, foreign transaction charges or interest charges. Both cards offered by Brex are considered charge cards, meaning you're expected to pay your bill in full within 30 days for the Brex Card for Startups and within 60 days for the Brex Card for Ecommerce.
Virtual credit issued quickly once approved. Once you've completed the application and granted Brex access to your company's financial information, if you're approved, you'll get a virtual number that you can use immediately, with a physical card to follow.
Discounts and deals on several popular platforms. Cardholders will get preferred pricing on certain services including Amazon Web Services, WeWork, Google Ads, Salesforce, Twilio, Caviar, Instacart, Zendesk, Snapchat, Expensify, Carta, Clear Channel, Payoneer, Shippo, Signifyd, Stitch Labs, Zentail and Postscript.