American Express^® Business Line of Credit^‡

A business line of credit provides flexible access to business funding, allowing you to draw as needed from your credit line up to your available line amount. You can draw funds from the line in the form of individual loans. With some lines of credit, like American Express^® Business Line of Credit, you can have more than one outstanding loan at one time, up to your approved line size.^‡As repayments are made, the amount of funds available replenish, allowing you to make additional draws. Note that your line could be adjusted by a lender at any time based on many factors, like your business' health.A business line of credit can open up possibilities and adapt your unique business demands. You can hire seasonal help or offer signing bonuses to attract top talent, update equipment or order supplies, or stock up on additional inventory when prices are low. You could also consider using it to smooth out gaps in your cash flow.

Business loans are a form of business financing that provide funds to borrowers that must be repaid over time. Two common types of business loans include business lines of credit and individual term loans.With a business line of credit, you can draw multiple loans from your credit line up to your available line amount without needing to reapply each time, so it can be used to cover recurring or unexpected expenses.While term loans offer a one-time lump sum, they often require a fresh application for additional funding. By contrast, with an American Express^® Line of Credit, there is no need to reapply to access your line of credit once you are approved. You have the flexibility to draw as much or as little as you need from your available line - subject to minimum draw requirements.^‡

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.

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.

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 primary account, depending on the settings you choose). Funds may take 1 to 3 business days to process and post, depending on your bank.

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.

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