Question 1

How much business credit can I get?

Accepted Answer

American Express® Business Line of Credit offers line sizes from $2,000 to $250,000. Initial line sizes above $150,000 are only available to select borrowers who have a pre-existing American Express relationship and meet other criteria.

Question 2

Is a full credit report obtained from the consumer credit bureau for the application process?

Accepted Answer

Yes, American Express obtains reports from consumer reporting agencies. American Express will also report your funding account payment status to consumer credit reporting agencies in accordance with the loan agreement.

Question 3

How do the monthly fees work?

Accepted Answer

The fee is calculated and determined within the documented fee ranges based on the underwriting analysis and creditworthiness and other factors.

The fee structure works like this: the fee is higher in the first months of the loan term and lower in the final months.

You're only charged loan fees during the months you have an outstanding balance. Plus, there are no prepayment penalties — you can pay off your loan at any time.

To help you budget with confidence, you'll see your monthly fees and the payment due dates for the loan term before you take out a loan.

6-month loan term: Fee is higher in the first two months and lower in the final four months.

12-month loan term: Fee is higher in the first six months and lower in the final six months.

18-month loan term: Fee is higher in the first nine months and lower in the final nine months.

24-month loan term: Fee is higher in the first twelve months and lower in the final twelve months.

Question 4

How do I link a bank account?

Accepted Answer

To link an external bank account, follow this guide .

Question 5

How quickly can I get my loan funds?

Accepted Answer

Once an American Express® Business Line of Credit application is completed and approved and after you draw on the line of credit and sign the loan agreement, funds are sent to the verified business bank account you designate for disbursement (this may or may not be the same as your autopay account, depending on the settings you choose). Funds may take 1 to 3 business days to process and post, depending on your bank.

Question 6

How does the repayment process for my business line of credit work?

Accepted Answer

After receiving a disbursement of funds from your line of credit you will begin to receive a monthly invoice to make repayments. Depending on your cycle date this may be as early as 21 days from disbursement or as long as 51 days after disbursement.
Each month you will be billed for a portion of your loan principal, plus a loan fee, any late fees (if applicable), any prior minimum monthly payment(s) remaining unpaid, and any billed but unpaid fees. Your business' loans incur a loan fee every month you have an outstanding balance.
You'll always know your repayment schedule in advance, and can find more complete details here.

Question 7

Who issues the loans drawn on an American Express® Business Line of Credit?

Accepted Answer

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