Overview
To keep things compliant and secure, Loop can only support businesses operating in approved industries. We’re unable to offer Accounts or Cards to businesses in specific restricted categories or to sole proprietors who are residents of Quebec.
If your business falls into one of the restricted industries listed below, you won’t be able to open a Loop Account or receive a Loop Card.
Restricted Industries and Business Types
Loop cannot provide Accounts or Cards to businesses involved in the following:
High-risk or restricted industries
Adult entertainment
Precious metals and stones, including diamond traders
Weapons
Cryptocurrency
Unlicensed gambling and gaming
Online pharmaceutical or pseudo-pharmaceutical sales
Drugs, alcohol, or tobacco (including online, telephone, or mail-order sales)
Unlicensed marijuana or cannabis operations or sales
Mining and extraction
Financial or credit-related businesses
Collection agencies
Refinancing, credit restoration, or bankruptcy attorney services
Mortgage reduction services or timeshares
Money service businesses
Investor services or investment clubs
Prepaid calling cards or prepaid cell phones
Medical benefit packages
Deceptive or fraudulent activity
Illegal or brand-damaging products and services
(e.g., descramblers, modification chips, jammers, signal blocking devices, fake IDs, or fraudulent documents)
High-fraud-risk operations
(e.g., deceptive sales, free trials with misleading terms, unrealistic guarantees, or “get rich quick” schemes)
Other restricted categories
Merchants selling replicas or brand knock-offs
Adoption agencies
Direct marketing or travel clubs
Pawn shops
Undefined or high-risk business models
(e.g., concierge services, unrelated or unclear business models, door-to-door or high-pressure sales)
Additional Eligibility Note
Loop Cards cannot be issued to sole proprietors who are residents of Quebec.
FAQs
Can I still use Loop if I partner with a restricted business?
No. If your business directly supports or derives income from a restricted industry, Loop cannot offer you an Account or Card.
What if I change my business type later?
If your business moves into a restricted category after opening your Account, Loop may need to close or limit access to your Account or Card.
Can I request an exception?
No. These restrictions are set for compliance reasons and apply to all applicants.
How do I know if my business qualifies?
If you’re unsure, reach out to our support team before applying — we’ll help confirm your eligibility.