TERMS AND CONDITIONS

American Express^® Business Line of Credit

American Express^® Business Line of Credit offers access to a commercial line of credit ranging from $2,000 to $250,000, although some customers may have access to a larger line of credit. Decisions regarding the line of credit amount, loan fees and available installment term options are based on a review of your and your business’s overall financial profile, which may include your credit history, your relationship with American Express and other financial institutions, and other factors. The line of credit amount, loan fees, and installment term options are each subject to review and may change for future loan activity. A review of the line of credit may result in a suspension at any time, accompanied with or without a closure of the line of credit. Not all customers will be eligible for the lowest loan fees or all installment options, and not all industries are eligible. All loans are subject to credit approval, are secured by assets of the borrower, require a personal guarantee, and may be subject to late fees. Loans are issued by American Express National Bank.

Each draw on the line of credit results in a separate installment loan with monthly installments which may include 6, 12, 18 or 24 months, subject to eligibility. When you request a loan, you will be presented with the available installment option(s) and the monthly loan fee for that loan amount. The monthly loan fee is calculated as a percentage of the total loan amount, and is charged monthly during the term of the loan along with a portion of the principal.  Currently, the monthly loan fees may range from 0.55% to 1.55% of the total amount borrowed, but the loan fee offered to you for future loans may change at any time.  You will be charged monthly loan fees only for months in which the loan has an outstanding balance. If you repay the total principal of an installment loan early, you will not be required to pay the loan fees that have not posted for subsequent months. American Express may offer promotions and may reduce or waive loan fees from time to time.

If you elect to have your loan funds disbursed directly to a third party payee, you are required to provide accurate and complete payee information. Payees must be located in the US or US territories. The per transaction payee payment maximum is the lesser of your then available line of credit and $100,000. Not all payee industry types are eligible. We may refuse a payee in our discretion or for reasons beyond our control. Loan funds sent to your payee may take up to three (3) banking days to post to the payee’s business bank account, although payments may be delayed for a number of reasons and the payee’s bank may have their own policy regarding how quickly to post a payment.

If eligible, you can be approved in minutes for a line of credit from $2,000 to $250,000 when we are able to automatically obtain your business data and verify your bank account. If a manual review is required, it will take longer to provide you with a decision.

American Express Business Blueprint™

American Express Business Blueprint™ is the small businesses digital experience that allows a customer to view on one digital dashboard summary account information for the following American Express small business products: American Express^® Business Cards, American Express^® Business Line of Credit, and American Express^® Business Checking. The customer can also choose to link their third-party issued business bank accounts and business credit cards to Business Blueprint. Not all third-party accounts or cards can be connected to Business Blueprint. Business Blueprint allows the customer to view data insights and track their business cash flow and expenses by viewing reports that American Express prepares using the customer’s linked account information. While the cash flow management service from Business Blueprint is currently free, each of the business products from American Express that are visible in Business Blueprint has its own fees, eligibility criteria, application process and approval requirements. The Business Blueprint service (including any data insights provided to the customer) does not constitute legal, tax, financial or accounting advice, and is not a substitute for obtaining competent personalized advice from a licensed professional. You should seek professional advice before making any decision that could affect the financial health of your business. American Express makes no representations as to the accuracy, completeness or timeliness of the reports, data or account information that are available to the customer from Business Blueprint.  

American Express and Amex are registered trademarks of American Express.