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American Express® Business Line of Credit is a multi-draw line of credit. Each draw on the line is a separate 6-, 12-, or 18 – month installment loan depending on your eligibility. Once approved, you are notified of how much credit you have and which of their three loan terms you qualify for. You will have access to funds and can draw on the approved amount anytime you need extra cash for your business.
Loan application with a bank or credit union is time-consuming. American Express® Business Line of Credit, on the other hand, has only a few requirements for business owners seeking funding:
American Express® Business Line of Credit asks for the following basic information during the application process:
You’ll also be asked to create login credentials and to connect your bank account. American Express® Business Line of Credit provides the opportunity to connect additional business accounts, such as QuickBooks, eBay, Amazon, PayPal, and Stripe. Linking multiple services gives American Express® Business Line of Credit a better picture of your current financial status.
Unlike most traditional lenders, American Express® Business Line of Credit considers multiple factors when determining whether or not to extend a line of credit. In addition to your credit score, the lender looks at:
American Express® Business Line of Credit will verify your business account information and perform a hard credit check to determine your credit score.
The same process may increase your credit line as your business grows. To qualify for a American Express® Business Line of Credit loan and maintain an active profile, all information you submit must be accurate to the best of your knowledge. American Express® Business Line of Credit requires users to maintain the accuracy of their information and reserves the right to close accounts otherwise.
American Express® Business Line of Credit offers 6-month, 12-month, and 18-month loan terms. The total monthly fees incurred over the loan term range from 3-9% for 6-month loans, 6-18% for 12-month loans, 9-27% for 18-month loans, and are subject to change for future loans drawn under the available line of credit. Loans incur a loan fee for each month you have an outstanding balance. Not all customers will be eligible for the lowest fee.
If your checking account is online, you can make a mobile deposit of eligible checks through the American Express® Business Line of Credit mobile app, transfer money from another bank, or make cash deposits at one of thousands of in-network ATMs nationwide.
American Express® Business Line of Credit is certified for customer privacy. Your login information is never shared, and the company does not sell customer data to third parties.
American Express® Business Line of Credit offers extensive resources covering the most critical aspects of running a business. American Express® Business Line of Credit's FAQ section provides answers to common questions on the loan process and service features.
You can contact American Express® Business Line of Credit via phone or email. Hours are from Monday-Friday 8am-9pm (EST). Emails are delivered through the website or directly to support, and messages are typically answered within 24 hours.
American Express® Business Line of Credit is a useful lending option for the modern small business. The automated review and approval process simplifies the loan application process giving you time to focus on running your company. The requirements are straightforward, and American Express® Business Line of Credit considers factors other than your credit score when determining whether your business qualifies. The terms and fee structure are easy to understand, and there are no hidden fees. All loans are structured as credit lines. That way, you can withdraw money as needed, and you only have payments if you have an outstanding balance.
Multiple withdrawal methods and an automatic payment system make American Express® Business Line of Credit preferable for on-the-go business owners. You have access to cash wherever and whenever you need it so that your business can continue to operate uninterrupted if cash flow slows.
American Express® Business Line of Credit
925B Peachtree Street NE
Atlanta, GA 30309
If eligible, you can be approved in minutes for a line of credit from $2,000 to $250,000 when we are able to automatically obtain your business data and verify your bank account. If a manual review is required, it will take longer to provide you with a decision. American Express® Business Line of Credit offers access to a commercial line of credit between $2,000 to $250,000. Each draw on the line of credit will result in a separate installment loan. All loans are subject to credit approval and are secured by business assets. Every loan requires a personal guarantee. Monthly fees range from 3-9% for 6-month loans, 6-18% for 12-month loans, 9-27% for 18-month loans, and are subject to change for future loans drawn under the available line of credit. Not all customers will be eligible for the lowest fee. Not all loan term lengths are available to all customers. Eligibility is based on creditworthiness and other factors. Not all industries are eligible for American Express® Business Line of Credit. Pricing and line of credit decisions are based on the overall financial profile of you and your business, including history with American Express and other financial institutions, credit history, and other factors. Lines of credit are subject to periodic review and may change or be suspended, accompanied with or without an account closure. Late fees and return payment fees may be assessed. Loans are issued by American Express National Bank.
¹ All businesses are unique and are subject to approval and review.
The required FICO score may be higher based on your relationship with American Express, credit history, and other factors.