Loans (US)

American Express® Business Line of Credit review: grow your business faster!

Are you looking for a loan, and do you own a business? If so, read our American Express® Business Line of Credit review to learn how to get flexible funding!

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by Victória Lourenço

10/08/2022 | Updated on 02/06/2023

American Express® Business Line of Credit: flexible line of credit for your business!

The American Express® Business Line of Credit will help you grow your business! Source: The Mister Finance.
The American Express® Business Line of Credit will help you grow your business! Source: The Mister Finance.

Whether you’re just starting out or you’re a well-established business, securing the right funding is crucial to keeping your company moving forward. So, read our American Express® Business Line of Credit review!

American Express® Business Line of Credit

How to apply for Amex Business Line of Credit?

If you want a flexible business loan to grow your business, read our post to learn how to apply for American Express® Business Line of Credit!

APR*Monthly fees range from 2% to 9% for 6-month loans; 7.5-18% for 12-month loans, and 15.75-27% for 18-month loans.

*Terms apply.
Loan PurposeMulti-draw line of credit.
Loan Amounts*From $2,000 to $250,000.

*Terms apply.
Credit NeededGood to excellent.
Terms6-, 12-, or 18-month loan term options with a corresponding monthly fee.
Origination FeeN/A.
Late Fee*Late fees vary from $10 to $100, depending on the amount owed.

*Terms apply.
Early Payoff PenaltyN/A.

So, if you need funding for your business, you’ll find American Express® Business Line of Credit, an easy, flexible line of credit that can be tailored to your specific needs.

Therefore, keep reading for a review of how the American Express® Business Line of Credit works and whether it might be the right choice for your business!

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How does the American Express® Business Line of Credit work?

American Express® Business Line of Credit is a relatively new player in the small business loan market but has quickly made a name for itself. The company offers a flexible line of credit that can be used for various purposes.

These purposes range from covering working capital needs to finance large purchases. Also, you can only pay fees for the amount you use.

So, there are no APR fees. You’ll only need to pay the monthly fees according to your loan terms. Also, your terms and fees depend on your creditworthiness and the analysis they’ll perform on your business.

American Express® Business Line of Credit benefits

Get the funding you need to make your business a success. Source: Freepik.
Get the funding you need to make your business a success. Source: Freepik.

As we mentioned above, you can see that the American Express® Business Line of Credit can offer incredible benefits to its clients.

With this lender, you can get a hassle-free loan for your business to grow like never before. Plus, you can be sure that it’s a safe lender because it’s an American Express brand.

In addition, you can get loan amounts from $2,000 to $250,000! This way, your business will have the money it needs to grow!

However, as with any other lending option, there are also some downsides. So, read our list below of the pros and cons!

Pros

  • Flexible funding for your business;
  • Only pay the monthly fees related to the amount of the loan you use;
  • No APR fees, only monthly fees.

Cons

  • You’ll need to fit some very specific requirements to get this loan.
  • There are requirements for a high credit score to be able to qualify for a loan with this lender.

How good does your credit score need to be?

The American Express® Business Line of Credit can be an incredibly good business loan option. However, you’ll need to have a relatively high credit score to apply. So, you’ll need a FICO score of at least 640 at the time of the application to qualify.

How to apply for the American Express® Business Line of Credit?

Applying for a loan through American Express® Business Line of Credit can be easy. You’ll need to fit the requirements and fill out the application. A decision will come to you in no time!

American Express® Business Line of Credit

How to apply for Amex Business Line of Credit?

If you want a flexible business loan to grow your business, read our post to learn how to apply for American Express® Business Line of Credit!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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