How does the interest-free period work?

The interest-free period Loop offers is about 15 days longer than a traditional business credit card you might see from a bank. For example, if your statement is from January 1 to January 31, you’ll have until February 25th to make your payment (whereas with most bank credit cards your payment would be due around February 10th).

With almost all credit cards, interest accrues on each purchase from the date of the purchase but you can avoid any interest being charged by ensuring that you always pay your balance in full every month by the due date - Loop uses the same premise, but give you the extra days to repay to make sure you can avoid any extra charges (because they can really add up).