Loans (US)

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

Are you in the market for a flexible business loan? If so, read our post to learn how to apply for American Express® Business Line of Credit!

American Express® Business Line of Credit application: finish applying in minutes!

Learn how to apply for an American Express® Business Line of Credit. Source: The Mister Finance.
Learn how to apply for an American Express® Business Line of Credit. Source: The Mister Finance.

Are you in the market for a business loan? Do you want to learn how to apply for the American Express® Business Line of Credit? If so, you may be wondering how the application process works.

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Amex Business Line

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Well, in this blog post, we’ll outline the steps you need to take to finish your American Express® Business Line of Credit application.

We’ll also provide some tips on what to expect along the way. So, whether you’re just starting your research or are ready to apply, keep reading to learn how to apply for American Express® Business Line of Credit!

Online Application Process

If you fulfill the eligibility requirements, apply for this business loan. Source: Freepik.
If you fulfill the eligibility requirements, apply for this business loan. Source: Freepik.

Before you start applying for a loan through American Express® Business Line of Credit, you should remember a few details. For example, you can get loan terms ranging from 6, 12, or 18 months.

Also, you’ll be able to find flexible monthly fees depending on your business analysis results. In addition, you can find that the application process is very straightforward.

You can easily apply online in a few simple steps! However, before applying, you’ll need to fit the requirements. For example, you need to be 18 years of age and have started your business a year ago.

Also, you’ll need a FICO score of at least 640 when applying. Plus, your average monthly revenue needs to be at least $3,000.

So, to apply, you’ll need to fill out an application form with your personal and business information. Then, you’ll just wait for a quick response to see if you got approved.

Application Process using the app

You can download the American Express® Business Line of Credit mobile app on your Android or iOS device. And you’ll be able to apply for loans there and manage your application and current loans.

All you need to do to apply is download the app and follow the instructions as shown on the screen. Then, you’ll provide the personal and business information required and await a quick response on your approval.

American Express® Business Line of Credit vs. Quick Cash Capital

If you still don’t know about getting a loan for your business through American Express® Business Line of Credit, you can get a different option, such as Quick Cash Capital.

With this lender, you’ll be able to find business loan options for a broader level of credit scores. Also, if you have a higher credit score, you’ll be able to get up to $500,000 in loan amounts.

So, read our comparison table below to help you decide.

American Express® Business Line of CreditQuick Cash Capital
APR*Monthly fees range from 3% to 9% for 6-month loans; 6% to 18% for 12-month loans, and 9% to 27% for 18-month loans.

*Terms apply.
N/A.
Loan PurposeMulti-draw line of credit.Small Business Finance and Merchant Cash Advance
Loan Amounts*From $2,000 to $250,000.

*Terms apply.
From $20,000 to $500,000.

*Terms apply.
Credit NeededGood to excellent.All credit scores.
Terms6-, 12-, or 18-month loan term options with a corresponding monthly fee.Up to 36 months for small business finance.
Origination FeeN/A.N/A.
Late Fee*Late fees vary from $10 to $100, depending on the amount owed.

*Terms apply.
N/A.
Early Payoff PenaltyN/A.There are discounts for early payments.

If you like what you see here, read the Quick Cash Capital full review on the following!

quick cash capital

Quick Cash Capital review

In this Quick Cash Capital review, you will discover how to get working capital solutions to grow and expand your business. Keep reading to learn how it works.

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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