What is Vendrix?

Vendrix is a new tool built for managing your construction company’s spending with automatic expense management technology and a smart Mastercard company credit card. Vendrix cards offer a high level of control and security for company owners, CFOs and Controllers, but also extreme ease-of-use for cardholders to streamline the expense process.

What companies does Vendrix work for?

Vendrix is designed for construction companies in the United States. We work with a wide range of companies ranging from small regional contractors to national construction companies doing hundreds of million in revenue. Approval is subject to an application process and evaluation. If you’re unsure about whether Vendrix is right for you, please book a demo to learn more.

Where can I use Vendrix and for what?

Vendrix is accepted at millions of Mastercard locations worldwide. The card has unique card-level control features that allow your company to decide when, where, how much, and how often spending can take place on the cards. Only spending that your company approves will be allowed on the Vendrix Mastercard. This is not only more convenient but also eliminates the need to submit expense reports for transactions after-the-fact. 

Vendrix allows you to make authorized purchases while on company business. The card program administrators have the ability to determine what types of purchases you are authorized to make on behalf of the company. Depending on your role, you can create budgets and fund cards. If a purchase exceeds limits determined by budgets and roles, it may require approval.

Vendrix allows for greater flexibility with purchase categories and limits including different spending limits within different categories such as fuel, travel, restaurants, building supply, and more, all at the same time.

What are your fees?

Vendrix charges no fees whatsoever. 

How does Vendrix make money?

We primarily earn money from merchants when you use your Vendrix card to make purchases. 

What makes Vendrix different from my regular company credit card or other offerings?

Vendrix offers a sophisticated expense management platform and the Vendrix Mastercard company credit card, both of which provide a higher level of control and reporting than many construction companies ever thought possible. For example, with Vendrix you can set limits for different merchant categories (fuel, restaurants, travel, building supply, etc). The Vendrix Mastercard can even tell the difference between a cardholder swiping at the pump or going inside of a service station. We’ve built Vendrix to help construction companies save time and money using our enhanced controls and reporting so they can make their companies more profitable. Vendrix gives you full control and visibility over your construction company’s spending. Vendrix is accepted anywhere that takes Mastercard, there are no fees, we don’t require a personal guarantee from owners of the company, and we’re building solutions to integrate into your company data through your accounting software or ERP.

What type of reporting will I receive?

Vendrix provides transaction-level details through our dashboard, reports, and alerts, allowing you to easily manage spend. You can log in from your desktop or mobile device at any time to see recent activity on your Vendrix cards. You will also receive a statement at the end of each billing cycle.

The Vendrix Application

Does Vendrix require a personal guarantee?

No, Vendrix does not require owners to personally guarantee their company’s spending.

Will my personal credit be affected if I apply for Vendrix?

No, applying for Vendrix will not affect your personal credit.

What information do you collect as part of the application for Vendrix?

When you apply, we will ask you to provide your personal identifying information as well as basic information about your business, including, any individuals who are beneficial owners of 25% or more of the business and a single individual with significant responsibility to control, manage or direct the business. In some cases, we may ask you to provide additional documentation such as, for example, financial documents such as bank statements or accounting records, or utility bills to verify the information you provide in the application.

How long does it take to process my Vendrix application?

We have a simple application process. In certain cases we may need to review more information or documents from you, which may add time to the application process (for example, when applying for a large line of credit). Once your application is complete (which means you’ve provided us with any information and documents we request), we will get back to you by email within 5 to 10 business days. If you haven’t heard back within 10 business days, please contact us. A dedicated customer service representative will help and guide you through the entire process and on to the next step which is onboarding.

Why do you ask for Social Security numbers?

We need to collect Social Security numbers as part of our “Know Your Customer” (KYC) responsibilities in order to comply with applicable laws and regulations, to help us to verify the identity of individuals associated with your company. Applying for Vendrix will not affect your consumer credit score and Vendrix does not require you to provide a personal guarantee.

Why are you requesting various documents (e.g., utility bill) from me?

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person (the company and it’s owners and/or persons in control) who opens an account. Also, in order to validate your identity and the information you provided in your application, if we are not able to verify it through other means.