When your small business needs financing for growth, equipment, marketing, or other needs, American Express offers attractive lending options. American Express business loans provide quick access to capital with online applications, fast decisions, and funding in as little as 1 business day. Here’s an overview of what AmEx offers plus tips for securing the best rates and terms.
Types of American Express Business Loans
American Express offers three main types of loans for small business borrowing needs:
- Term Loans – Fixed amount loans from $5,000 up to $500,000 with repayment from 6 months to 5 years.
- Lines of Credit – Revolving credit lines up to $500,000 to access as needed.
- Merchant Financing – Funding based on your AmEx credit card sales history, repaid as a percentage of future card sales.
AmEx term loans and lines of credit have fixed rates while merchant financing has variable repayment amounts.
Benefits of American Express Business Financing
There are many advantages to securing financing through AmEx:
- Fast online applications with decisions in minutes
- Funding as soon as the next business day
- Fixed monthly payments on term loans
- No collateral required for loans under $100,000
- Dedicated Account Manager provides support
- Seamless integration if you already accept AmEx cards
- No fees to apply or prepayment penalties
The quick process and customer support makes AmEx a leading funding source for small businesses.
Loan Uses and Qualification Requirements
American Express term loans can be used for:
- Purchasing equipment
- Marketing expenses
- Inventory or supplies
- Seasonal financing
- Refinancing debt
- And more!
To qualify, you’ll need:
- 6+ months in business
- $50,000+ in annual revenue
- Owner personal credit score 650+
- No recent bankruptcies or tax liens
- Active American Express merchant account often preferred
Overall, approval requirements are more flexible than conventional bank loans.
Getting the Best Rates and Terms
While AmEx advertises rates as low as 6.0%, actual rates vary between 6.0% – 29.99% APR based on your qualifications. Here are tips to secure the lowest rates:
- Maintain revenues over $1 million annually
- Have strong business credit scores above 680
- Keep balances on existing AmEx cards low
- Provide multiple years of consistent cash flow
- Only apply for the amount truly needed
- Offer collateral if possible
- Highlight length of time in business
Meeting more of these criteria means better loan pricing from AmEx.
How to Apply for an American Express Business Loan
The entire application process for AmEx business loans can be completed online:
- Visit the AmEx Business Financing website and select your desired loan product.
- Choose the loan amount and payback terms that fit your needs.
- Provide information about your business finances and structure.
- Authorize AmEx to share your details with lending partners.
- If approved, e-sign the loan documents to complete the process.
Funding into your bank account can come as quickly as 24 hours after approval. The easy application and fast funding makes AmEx Business Financing a top choice for many small business owners.
With competitive rates, flexible qualification requirements, and a fast online process, American Express term loans and lines of credit meet the needs of most small businesses. Existing AmEx card acceptance can unlock preferred pricing and loyalty benefits. If your business needs quick financing, AmEx is an excellent first stop to consider in your funding search.