Most recently before joining Bankrate, Robert worked as an editor and writer at The Ascent by The Motley Fool, covering a number of personal finance topics, including credit cards, mortgages and loans.
Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate is an independent, advertising-supported publisher and comparison service. We are
compensated
in exchange for placement of sponsored products and services, or when you click on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. However, this compensation in no way affects Bankrate’s news coverage, recommendations or advice as we adhere to strict
editorial guidelines.
Our advertisers do not compensate us for favorable reviews or recommendations. Our site has comprehensive free listings and information for a variety of financial services from mortgages to banking to insurance, but we don’t include every product in the marketplace. In addition, though we strive to make our listings as current as possible, check with the individual providers for the latest information.
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict
, this post may contain references to products from our partners. Here's an explanation for
.
The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices.
We’ve maintained this reputation for over four decades by demystifying the financial decision-making
process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy,
so you can trust that we’re putting your interests first. All of our content is authored by
highly qualified professionals and edited by
subject matter experts,
who ensure everything we publish is objective, accurate and trustworthy.
Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money.
Editorial integrity
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict
editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
American Express® Business Line of Credit offers business lines of credit in all 50 U.S. states and territories. They’re available to small business owners with fair credit but feature a pricing structure that could get expensive.
Lender Details
Loan amount
$2,000-$250,000
Interest rate
N/A
Term lengths
Avg. monthly revenue
$3,000
Min. time in business
Must have started your business at least a year ago
Who American Express® Business Line of Credit is best for
Business owners with fair credit looking for a flexible lending solution may find this business line of credit attractive. You’ll need a minimum FICO credit score of at least 660* at the time of application to qualify. Plus, the draw fee only applies when you borrow funds, and you’ll have six, 12, 18 or 24 months to make payments.
* 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.
Who American Express® Business Line of Credit may not be best for
This isn't a good fit if you’re a new business owner or anyone with a poor credit score. American Express requires fair credit, and you'll need to have started your business at least a year ago before you can qualify for a loan.
American Express® Business Line of Credit: in the details
Loan amount
$2,000-$250,000
Interest rate
N/A
Avg. monthly revenue
$3,000
Min. time in business
Must have started your business at least a year ago
Fees
3.00% to 9.00% for 6-month loans | 6.00% to 18.00% for 12-month loans | 9.00% to 27.00% for 18-month loans | 12.00% to 18.00% for 24-month loans
Personal credit score
Minimum FICO score of at least 660* at the time of application
American Express® Business Line of Credit pros and cons
Pros
Accessible
Automated online process
Minimal fees
Cons
Requires a personal guarantee and business assets
Not available to new business owners
Monthly fees could get expensive
Business loan types offered
American Express offers a line of credit. All businesses are unique and are subject to approval and review.
American Express® Business Line of Credit
Loan quick facts
Amounts: $2,000 to $250,000
Terms: 6, 12, 18 or 24 months
Total monthly fees: 3.00% to 9.00% (6-month loans), 6.00% to 18.00% (12-month loans), 9.00% to 27.00% (18-month loans), 12.00% to 18.00% (24-month loans)
American Express® Business Line of Credit overview
With an American Express business line of credit, you’ll pay a monthly fee on the amount you borrow, and there are no early repayment penalties.
Loan eligibility requirements are fairly relaxed. It’s open to people with fair credit who have started their business at least a year ago and only requires an average monthly revenue of at least $3,000.
Credit limits range from $2,000 to $250,000, and each time you access funds, it counts as a separate loan with its own loan agreement, need for a personal guarantee and loan fees.
Loan fees start low but only if you can pay off your loan within 6 months. If you need 18 months to pay back your debt, fees range between 9 percent and 27 percent. And since this is Amex’s proprietary fee structure, it’s not easy to compare to business lines of credit with interest rates.
Do you qualify?
Here's what it takes to meet Amex's relaxed eligibility requirements:
Age: At least 18 years of age
Minimum FICO score: At least 660* at the time of application
Time in business: Have started your business at least a year ago
Revenue: Average monthly revenue of at least $3,000
Industry limitations: Not specified
What we like and what we don’t like
Applying for an American Express® Business Line of Credit is simple, and you’ll know what to expect regarding borrowing costs right away.
What we like
Accessible. Amex’s eligibility requirements are more relaxed than other lenders, especially its minimum revenue requirements.
Automated online process. You won’t fill out a lengthy application or have to apply by phone or in person at a bank.
Minimal fees. Borrowers do not pay loan origination fees, prepayment penalties or maintenance fees.
What we don't like
Requires a personal guarantee and business assets. On top of a personal guarantee, Amex requires you to secure your loan with business assets. Not all lenders require both for a line of credit.
Not available to new business owners. Access to funding is limited to small business owners who’ve been operating for a year or more.
Monthly fees could get expensive. Amex’s proprietary fee structure charges higher rates the longer it takes you to pay off your loan.
How American Express® Business Line of Credit compares to other lenders
American Express is known for its business line of credit with lenient lending requirements. But it doesn’t offer as many business loan options as other online lenders. Here’s how Amex compares to other lenders:
Rating: 4.3 stars out of 5
4.3
Bankrate Score
Loan amount
$2,000-$250,000
Interest rate
N/A
Term lengths
Min. time in business
Must have started your business at least a year ago
Fundible offers a variety of business loans, including business term loans, lines of credit, SBA loans, equipment financing and invoice financing. With Fundible, you’re most likely to get approved with a personal credit score of 600 or higher and at least $200,000 in annual revenue.
But the lender offers options for startups and businesses with bad credit, accepting scores as low as 450. That minimum credit requirement is low even by online lending standards, though you might only qualify for certain loans like invoice financing.
Across all of its loans, Fundible offers high loan sizes. For example, its equipment loan goes up to $10 million, while most online lenders max out these loans around $500,000 or $1 million. Its business line of credit also raises the bar to $500,000, higher than most lenders’ $250,000 credit limit.
American Express vs. Wells Fargo
Wells Fargo focuses on business lines of credit, SBA loans and financing for healthcare practices. It offers three line of credit options tailored to serve businesses at specific levels, including two unsecured lines. All of its lines require a minimum personal credit score of 680, but other features include:
Type of credit line
Loan amounts
Annual revenue required
Time in business
Unsecured line
$10,000 to $150,000
Not stated
At least 2 years
Unsecured, SBA-backed line
$5,000 to $50,000
Not stated
Under 2 years
Secured line
$100,000 to $1 million
At least $2 million
Not stated
Wells Fargo is more transparent about costs. Its line of credit interest rates range from 9.00 percent to 18.00 percent APRs. Annual percentage rates offer a complete view of your annual borrowing costs including fees. American Express charges a monthly fee on the amount borrowed, and each withdrawal acts as a separate loan. Its fee structure also goes up with longer repayment terms. It charges these fees based on repayment terms, though not all customers are offered all term lengths.
How to apply for a loan with American Express® Business Line of Credit
When you’re ready to apply for a Amex line of credit, visit the website and select the “Apply now” button to get started. You'll need to provide:
Your name and business name
Your personal address and phone number
Your business address and phone number
Your business tax ID
Your industry
If you have an American Express account, you can sign in, and your profile will be prefilled with information.
American Express® Business Line of Credit frequently asked questions
American Express does not disclose the amount of time it takes to receive funds after approval.
American Express Blueprint requires a minimum FICO score of at least 660* at the time of the application but looks at more than just your personal credit to determine eligibility. Amex also requires you to have started your business at least a year ago and have an average monthly revenue of at least $3,000.
To qualify for an American Express Business Blueprint loan, you’ll need to be at least 18 years old, have a minimum FICO score of at least 660* at the time of the application, a business checking account, and you must have started your business at least a year ago.
How Bankrate rates American Express® Business Line of Credit
Overall Score
4.3
Accessibility
4.0
Amex’s eligibility requirements help make this line of credit more accessible than other lines of credit.
Affordability
4.0
Amex doesn’t charge a number of fees found with other business lines of credit.
Transparency
4.6
Amex provides a decent amount of costs and eligibility requirements on its website.
Customer experience
5.0
Amex’s streamlined application process, customer service options and app give it an edge over other lenders.
Flexibility
3.8
Amex only offers one loan product.
*The required FICO score may be higher based on your relationship with American Express, credit history, and other factors.
Methodology
47
years in business
30+
lenders reviewed
22
loan features weighed
770+
data points collected
To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:
Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
Affordability: This section measures interest or factor rates and fees.
Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
Customer experience: Customer service hours, online applications and app availability are considered in this category.
Flexibility: This category considers factors like the number of loan products and ability to change payment due date.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
What small business owners think
American Express® Business Line of Credit has 16 reviews
Dive into community reviews below and see what others think about American Express® Business Line of Credit.
4.6
16
ratings
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Score breakdown
5 stars
63%
4 stars
31%
3 stars
6%
2 stars
0%
1 star
0%
Score by category
Customer experience4.5 / 5
Accessibility rating4.4 / 5
Affordability rating4.3 / 5
Transparency rating4.5 / 5
Flexibility rating4.3 / 5
Community Reviews
See what users like you are saying about American Express® Business Line of Credit.
Overall
Were you able to contact the lender for customer support? What was the process like?
I was and the process was extremely easy with zero percent stress
Score by category
Flexibility rating5/ 5
Transparency rating5/ 5
Accessibility rating5/ 5
Affordability rating5/ 5
Customer experience5/ 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
The lender was receptive to my businesses unique needs and they did this by getting me the funding I need for my specific industry and did it fast.
Score by category
Flexibility rating5/ 5
Transparency rating5/ 5
Accessibility rating5/ 5
Affordability rating5/ 5
Customer experience5/ 5
Overall
What was your biggest pain point during the application process?
Honestly just filling out the paperwork was the worst part.Other than that the process went smoothly
Score by category
Flexibility rating4/ 5
Transparency rating5/ 5
Accessibility rating5/ 5
Affordability rating4/ 5
Customer experience5/ 5
Overall
What was your biggest pain point during the application process?
The amount of paperwork that was required.
Score by category
Flexibility rating4/ 5
Transparency rating4/ 5
Accessibility rating5/ 5
Affordability rating4/ 5
Customer experience5/ 5
Overall
What was your biggest pain point during the application process?
All the paper work there is just so much to fill out and it seems like half of it just says the same thing there is just no need for all of that paperwork when half of it says the same thing
Score by category
Flexibility rating3/ 5
Transparency rating4/ 5
Accessibility rating3/ 5
Affordability rating4/ 5
Customer experience2/ 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
They were until they weren't. I know that's vague, but they became unresponsive when I reached out for assistance, which I thought odd for an AmEx product.
Score by category
Flexibility rating3/ 5
Transparency rating4/ 5
Accessibility rating3/ 5
Affordability rating3/ 5
Customer experience2/ 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes I feel like they were knowledgeable about the loan terms and the offer itself. They are very experienced and the walked me through step by step everything that I need to know. The terms and conditions. The limits. The amount. The payments. Fees involved. All in all they were really pretty good.
Score by category
Flexibility rating5/ 5
Transparency rating4/ 5
Accessibility rating4/ 5
Affordability rating5/ 5
Customer experience5/ 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes they were very helpful and knowledgeable about the rates and accurate on the timing I would receive the funds
Score by category
Flexibility rating4/ 5
Transparency rating3/ 5
Accessibility rating5/ 5
Affordability rating3/ 5
Customer experience4/ 5
Overall
Were you able to contact the lender for customer support? What was the process like?
Yes they had great customer service
Score by category
Flexibility rating5/ 5
Transparency rating5/ 5
Accessibility rating5/ 5
Affordability rating5/ 5
Customer experience4/ 5
Overall
What was your biggest pain point during the application process?
