Brex has released a credit card specifically for Ecommerce stores and its pure gold! It gives you 60 day 0% term financing - meaning that if you buy something today, you have 60 days to pay it off, if you buy something else tomorrow, you have 60 days from tomorrow to pay that off.
If you’re buying a lot of product, or running a lot of ads, you know that cash flow is the lifeblood of your business. Brex is a free, yes completely free when you use my partner link, free way of getting an extra 30 plus day cash flow from your credit card provider.
But wait, there’s more…
Brex uses your Shopify sales data, and bank data, to validate and approve your credit card, thus the card is tied to the business, not you personally. Your credit card limit is typically about 50% of your last month’s sales.
There are two qualifiers for this card:
1. You need to have been in business for at least one year.
2. You need to make approximately ~$50,000 in net monthly sales.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
I already gave you the two big ones: 60 day term financing and it's tied to the business, not the person.
The 3rd super cool perk is their rewards partner network, where they work to give you deals and discounts on popular apps like Zoom, Zendesk, Twilio, SendGrid, WeWork, Stitch Labs, PostScript (for SMS Marketing), and more.
ALSO, ALSO! You get 1% back if you pay within 30 days.
You can add users, or departments, get them physical cards (for free!) set the limits for each card, and every time you use the card, you get a text requesting a photo of the receipt, to keep the transactions easy for the accounting department.
Brex's credit card allows you to improve cash flow which can impact your opportunity to invest in growth, keep products in stock, raise advertising spend, and well, breathe. You can also keep track of your cash back, travel rewards, and partner savings, if you so choose.
Brex was one of the fastest unicorns in silicon valley, having reached $1 billion valuation in under 2 years. That is INSANE!
The application process takes about 15 minutes and will require integration with your bank and/or Ecommerce platform. You may want to spend a few minutes setting up your account, adding team members, and checking out the rewards and travel benefits. Then you should check in regularly, just like any other credit card, so that you make sure you’re paying it off appropriately. Remember to pay off early for 1% cashback.
If you’ve been in business for 12 months and you’re averaging over $50k/month in revenue, get a Brex account, seriously, there’s no downside.
Don’t use this line of credit as a way to forgo payments or float cash for long periods of time. You’ve got 60 days, period. So focus on ROI initiatives like Ad spend, inventory, etc. If you go on a cruise with your Brex card, you’re doing it wrong...