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!
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.
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
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.
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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 Credit | Quick 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 Purpose | Multi-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 Needed | Good to excellent. | All credit scores. |
| Terms | 6-, 12-, or 18-month loan term options with a corresponding monthly fee. | Up to 36 months for small business finance. |
| Origination Fee | N/A. | N/A. |
| Late Fee* | Late fees vary from $10 to $100, depending on the amount owed. *Terms apply. | N/A. |
| Early Payoff Penalty | N/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 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
Reviewed by / Aline Barbosa
Senior Editor
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