Archa business credit card: Are you eligible?
Archa, the consumer neobank turned business expense management platform, is touting its new smart business credit card as the solution to Aussie business’s financial admin needs.
Currently available in beta mode, the card bundles flexible and instant credit with an intuitive platform to help business owners manage expenses.
Founder and CEO Oliver Kidd said the company’s foray into the B2B space was spurred by its own difficulties dealing with large financial institutions.
“There was a lack of options and too much red tape when it came to business credit card requests from the big banks. Over the years, business credit cards have been commoditised as point product,” he said.
“While points sound attractive, for early stage, high-growth businesses, time is money; there needed to be a better solution that simplified financial admin to allow businesses more time to focus on the bigger picture and that is growth.”
By linking their accounting software, Archa business customers will be able to review expenses by category, set spending limits, and capture transactions in real time.
It currently operates on a subscription model, so cardholders will pay no interest.
What’s more, the sign-up process takes less than five minutes and does not require a personal guarantee. To be eligible, Australian businesses must have:
- An ABN or ACN
- At least six months in business
- A minimum monthly revenue of $5,000 or at least $50,000 in savings.
Archa is currently raising A$3m in growth capital being jointly led by BW Equities and Lazarus Corporate Finance.
Business loan comparisons on Mozo
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from 9%-Within same dayUnsecured Business Loan
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Prospa uses risk-based pricing to determine your interest rate. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business.
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Interest rates vary based on risk.3.5%from 24 hoursProspa Plus Business Loan
Prospa uses risk-based pricing to determine your interest rate. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business.
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Unsecured Business Loan
Business Loans from $5,000 to $5,000,000 with high approval rates. Access to funds on loans up to $500,000 in as little as 3 hours. Cash flow friendly repayments and open minded offers.
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On Application3%, starting at $399from 3 hoursUnsecured Business Loan
Business Loans from $5,000 to $5,000,000 with high approval rates. Access to funds on loans up to $500,000 in as little as 3 hours. Cash flow friendly repayments and open minded offers.
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On applicationDetails on applicationFrom 24 hoursBoost Business Loan
Whether you’re looking for a quick cash boost for your business or are ready to invest in growth, ScotPac offers a range of unsecured and secured loans from $10,000 up to $500,000. For loan terms of 6 months to 3 years. No application or account keeping fees to pay. Funds available in 24 hours or less once approved. Repayment options available.
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