The Problem

Element IQ couldn’t get access to credit or avoid FX fees — even with a decade of banking history

Element IQ is a performance marketing agency based in British Columbia, Canada, specializing in paid advertising for growth-focused businesses. Despite operating successfully since 2014 and transacting millions with their BC-based credit union, founder Samuel Araki faced multiple roadblocks with traditional banks.

Inaccessible Credit: Even after 10 years of loyal banking, Element IQ was repeatedly denied access to a business credit card. The bank’s rigid underwriting didn’t account for seasonal revenue cycles or the fact that Samuel had acquired another agency, which impacted short-term cash flow — a nuance most traditional banks simply overlooked.

High Foreign Transaction Fees: As a Canadian agency paying for essential US-based software tools, Element IQ was constantly incurring expensive foreign transaction fees that cut into profit margins — with no real alternatives offered by their existing bank.

The Solution

Loop unlocked credit and FX savings tailored to how Element IQ actually operates

Samuel initially discovered Loop for its online banking experience — but a proactive outreach from Loop’s team revealed even more upside. Once Element IQ connected its Stripe account, Loop was able to underwrite and approve a corporate credit card within 24 hours. After years of denial from traditional banks, Samuel finally had access to the credit his business needed.

With Loop, Element IQ also gained:

USD Card with No Foreign Transaction Fees: Essential for a business with recurring USD expenses, this card helped Element IQ avoid the 2–3% FX markup they previously paid.

Streamlined Currency Exchange: The platform made CAD↔USD conversions fast and cost-efficient, eliminating the friction of cross-border banking.

Fast Onboarding: From first contact to card issuance, the entire process was seamless and quick — a stark contrast to traditional institutions.

The Results

Element IQ accesses credit in 24 hours and saves thousands on USD expenses

Element IQ’s financial workflow changed almost overnight:

Rapid Access to Credit: Samuel was issued a Loop corporate card with a usable limit just 24 hours after connecting Stripe, providing an immediate safety net for business expenses.

FX Fee Savings: By avoiding the typical 2–3% charges from traditional banks, Element IQ saw direct improvements to its bottom line.

Improved Financial Organization: With Loop, Samuel consolidated business spending into one easy-to-manage platform — making it easier to stay in control of finances.

Responsive Support: Samuel noted the exceptional support from Loop’s team, which added confidence to his decision to switch.

By partnering with a banking platform designed for modern businesses, Element IQ was finally able to operate with the flexibility, access, and efficiency it needed to grow.