Typically, most small business owners use a line of credit for flexibility. Banks may charge your businesses a fee to make sure the money will be there when you need it. Then, there are no interest payments until you draw on it.
These lines of credit are best suited for unexpected opportunities and needs. Deeply discounted inventory and emergency repairs, for instance. You wouldn’t draw on a line of credit for ordinary day-to-day expenses. Unless it’s the new PEX Credit Expense.
Up to $75,000 in Working Capital Without Fees or Interest.
PEX Credit Expense is a new credit line, purpose-built to help small and mid-sized businesses optimize their daily cash flow. No fees to set it up. No interest when you use it. And your business earns cash back on qualifying purchases.
At the same time, every time you tap into this non-revolving line of credit, you gain deep visibility into and control over your day-to-day spending, even as you streamline your approval and reporting processes. Here’s how it works.
The Flexibility to Get Spending Power Wherever You Need It
Once your business is approved for PEX Credit Expense, you access the credit line through PEX Visa Commercial Cards. In many ways, PEX Visa Commercial Cards are like typical charge cards. You can use them anywhere Visa is welcome, even online. However, these cards have significant advantages over standard business charge cards.
First, you decide how to issue cards, not the bank. You simply log into your PEX account to issue cards. You can empower everyone on your team—from senior partners to summer interns—with credit to grow your business.
Without compromising your peace of mind.
Give People the Ability to Spend, Yet Control How They Spend
PEX Credit Expense runs on the PEX platform, proven by thousands of companies over the past 15 years. Along with the functionality to set spending and credit limits for each user, PEX gives you granular control over when, where, and how each PEX Visa® Commercial Card can be used.
You can set rules for everything from transaction times and dates to purchase sizes and merchant categories. You can give people cards with no access to credit. Then, when you need them to run an errand or make a purchase, you can activate the card with parameters that allow the purchase.
Be Faster and Smarter About Purchases
Administrators efficiently provide spending power 24/7 from the PEX website or mobile app. In fact, if employees need to make a purchase that is outside their set rules, they can contact the administrator through the app. The administrator can approve the purchase and enable it. The PEX Platform records the request and transaction, giving you the paper trail you need for your business.
You can also create single-purpose, virtual vendor card accounts with PEX Credit Expense. Ideal for vendors and online subscriptions, This tool lets you create a separate card account with predetermined transaction rules for each vendor. Surprise charges and price hikes become a thing of the past. And you’ll never have to jump through hoops to cancel a subscription you no longer want. Just deactivate the card.
Real-Time Reporting and Integration with Your Accounting Software
PEX Credit Expense doesn’t make you wait for a statement or check your account to see who’s spending what, where, and how much. The system reports charges and declines in real-time. You know who’s spending money, how much they’re spending, and when and where they’re spending it. And if any charges seem amiss, you can investigate immediately.
PEX Visa Commercial Card holders can download a mobile app that lets them photograph receipts and submit them along with notes and a general ledger code they’re authorized to use. As soon as they hit “Submit,” PEX software automatically allocates the purchase to the correct budget. Reconciliation takes just a few seconds: the time to review the purchase, click a button (or tap it if using the mobile app). The data and documentation go right into your accounting software.
No Fees. No Interest. No Credit Checks. And You Get Cash Back.
PEX Credit Expense is a non-revolving line of credit that you pay in full through an automatic ACH every 7 or 30 days. There’s no fee to access the credit line, and the first 250 cards you distribute are free.
Qualifying for PEX Credit Expense requires only a 90-day look-back on your business bank account. We don’t notify credit bureaus, so applying will not affect your credit score.
PEX Credit Expense gives you a 1% cashback bonus – Terms Apply on all qualifying PEX Visa Commercial Card purchases. Even Virtual Vendor card purchases. And unlike many corporate charge cards, these rewards are for your business, not individual cardholders. You receive the cashback as a statement credit. When the bill for your spending comes due, you simply owe less than you spent.
Start Growing Your Business With PEX Credit Expense Today
Cash flow is the lifeblood of any growing business, and PEX Credit Expense is the ideal credit line for your daily cash flow needs. It gives you up to $75,000 in working capital without fees or interest. And it runs on a platform that provides enormous visibility into your daily cash flow, even as it streamlines operations and helps you control spending.
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