Amex Business Line of Credit : The Perfect Way to Fund Your Small Business

 Amex Business Line of Credit : The Perfect Way to Fund Your Small Business

As an entrepreneur, you understand the importance of having access to reliable and flexible funding option. Traditional lenders and banks  can take few weeks or even months, complex procedures as well.  For flexible and immediate funding , American Express(AMEX) offers Amex Business Line of Credit. 

American Express Business Line of Credit is a versatile funding solution that offers entrepreneurs or small business owners an option to borrow fund as per their requirement. The fund can be used for purchasing inventory, equipments , paying salary and for marketing expenses. With Amex Business Line of Credit, you have flexibility to opt for funds upto approved limits and pay only for the amount you borrowed.

KEY FEATURES & BENEFITS OF AMEX BUSINESS LINE OF CREDIT

1. Fast Funding : With Amex Business Line of Credit, you can receive funds within 1 to 3 working days, depending upon your bank. This can be helpful to entrepreneurs or small business that needs immediate funding to take advantage of opportunities or to cover unexpected expenses.

2. Flexible Credit Limit : The Amex Business line of credit offers flexible credit limits ranging from $2000 to $250,000. The specific credit limit depends on various factors, including your credit history, monthly income, business financials and card issuer's policy. This can be helpful to manage short-term business expenses and unexpected opportunities.

3. Competitive Interest Rates & No Extra Fees : The interest rates of Amex Business Line of Credit are competitive with other traditional lenders and bank. Unlike traditional lenders or bank, Amex Business Line of Credit doesn't charge any application fees, process fees and annual fees.

4. Streamlined Application Process : Amex Business Line of Credit has a streamlined application process that can be completed online from Amex website or over the dedicated mobile application American Express Blueprint™. This allows Amex to evaluate your eligibility based on real time information from these accounts, making the application process quicker and hassle free.

5. No Prepayment Penalties : The funding do not impose any prepayment penalties. You can pay back your loan early without any penalties or additional cost. This can save your money on interest charges. 

6. Flexible Repayment Terms : The American Express Line of Credit offers flexible repayment terms of 6, 12, or 18 months. You can choose a term that aligns with your business cash flow and comfort to repay. The repayment schedule is monthly, which helps you to plan your finances effectively.

HOW TO QUALIFY FOR AMEX BUSINESS LINE OF CREDIT

The qualifications to get an Amex Business Line of Credit are as follows :

• Be at least 18 years of age

• Have been operating a business for minimum 1 year

• Have a valid Business checking account

• Have a minimum FICO credit score of 660 at the time of application

• Average monthly revenue should be minimum $3000

HOW TO APPLY FOR AMEX BUSINESS LINE OF CREDIT

Applying for American Express Business Line of Credit is an easy process, which hardly takes 10-15 minutes. Here is step-to-step guide for how to apply for it :

1. Create an American Express Account, if you are a new user. If you are an existing user, then login to your American Express Account through official website => Amex Business Line of Credit Website or American Express Business Blueprint mobile App.

2. Fill the application form by providing your personal information like Name, Address, Business Industry, Tax ID and Social Security Number.

3. Amex will review your application, based on the information provided, and then approves or denies your application.

4. Once your credit limit is approved, you can start accessing funds after selecting the available repayment terms.

BUSINESS LINE OF CREDIT ALTERNATIVES

• OnDeck : OnDeck offers fast funding for business with credit limit up to $100,000 , for which minimum  credit score required is 625. You can receive funds within 1-3 working days.

• Fundbox : Fundbox offers up to $150,000 with a minimum credit score of 600. You can receive funds within 1-3 working days, at times it get processed within a day.

• Bluevine : Bluevine offers upto $250,000 , which is similar to Amex Business Line of Credit. Minimum credit score required is 625 and you can receive amount in 1-3 working days.

FREQUENTLY ASKED QUESTIONS (FAQ)

Q1. Who issues the loans drawn on Amex Business Line of Credit ?

  

Amex Line Business Line of Credit loans are issued by American Express National Bank

Q2. How quickly can I get my loan funds ?

Once your application process is approved, you can receive funds within 1-3 working days

Q3. Is American Express Business Line of Credit available in all countries ?

Unfortunately no, American Express Business Line of Credit is only available in all U.S  States and in the U.S Territories

Q4. What are the requirements to be eligible for Amex Business Line of Credit?

Eligibility Criteria for Amex Business Line of Credit : Be at least 18 years old, Have a credit score of at least 660, Have a valid business checking account and a minimum monthly wage of $3000.