The American Express Business Line of Credit is a great tool for businesses looking to focus on growth.
With its quick and efficient application process, flexible access, term length options, and straightforward fees, it allows business owners to easily invest in their businesses and take advantage of growth opportunities without worrying about prepayment penalties.
- Update 10/20/2023: The offer has ended. For business banking, consider this business checking account from Chase.
- Update 6/5/2023: $250 bonus offer is back again through 8/31/2023.
- Update 4/11/2023: The total monthly fees over the loan term range has been updated.
American Express is also offering a 30,000 Membership Rewards point offer (worth approximately $600) for a new business checking account. Read about it here.
American Express Business Line of Credit $250 Offer
- What you’ll get: $250
- Where it’s available: Nationwide
- How to earn it:
- Available to any U.S. small business.
- Apply and be approved for a line of credit between now and the expiration date at 11:59pm EST.
- Then, verify your designated business bank account on or before the expiration date.
- Offer provided by American Express® Business Line of Credit
- Loans issued by American Express National Bank (AENB)
- $250 will be deposited into the Funding primary account within 30 calendar days after verification
- Limit of one offer per new American Express® Business Line of Credit account
- Not available to existing customers
- Offer is non-transferable and cannot be combined with other offers (unless permitted by American Express)
- American Express reserves the right to modify or revoke the offer
- Offer may not be received if account is not in good standing or if there is abuse, misuse, fraudulent activity, or gaming
- American Express may cancel the Business Line of Credit account and other accounts
- Account must be open at the time of fulfillment to receive the offer
- The offer may be taxable income reported on IRS Form 1099
- Responsible for any federal or state taxes resulting from the offer
- Consult a tax advisor for questions about the tax treatment of the offer.
About American Express Business Line of Credit
As a business owner, you know that growth is essential for success. However, it can be challenging to secure the funding needed to invest in your business and take it to the next level.
This is where an American Express Business Line of Credit can help. With its quick application process, flexible access, term length options, and straightforward fees, it’s an excellent tool for businesses looking to focus on growth.
Quick Application Process
One of the biggest advantages of the American Express Business Line of Credit is the quick application process.
You can apply online in just a few minutes, and when you connect your business accounts to the application, your financial information is reviewed in real-time. This means you can receive a decision quickly, without having to spend hours filling out paperwork or waiting for approval.
Another significant benefit of the American Express Business Line of Credit is its flexible access.
You can use what you need when you need it, without worrying about prepayment penalties. This means you can take advantage of growth opportunities as they arise, without having to worry about paying interest on unused funds.
Term Length Options & Straight Forward Fees
When it comes to term length options, the American Express Business Line of Credit offers three different choices: 6, 12, or 18-month loan terms. Each term length option comes with a corresponding monthly fee, so you can choose the option that best suits your business needs.
The American Express® Business Line of Credit also offers straightforward fees. You only pay a fee on the amount you use, during the months you have an outstanding balance. This means you can easily calculate your costs and avoid any surprises.
Here are the total monthly fees incurred over the loan term range:
- 3-9% for 6-month loans
- 6-18% for 12-month loans
- 9-27% for 18-month loans
READ MORE: GET THIS $300 SIGN UP BONUS BEFORE IT ENDS
The American Express Business Line of Credit is a great tool for businesses looking to grow.
It has a quick application process, flexible access, and offers different term length options with straightforward fees.
Plus, there’s a $250 offer available to any U.S. small business that applies and gets approved for a line of credit before the expiration date. Just make sure to verify your designated business bank account to receive the offer.