American Express Business Loans: 2022 Review

by Ann deBruyn

Editor's note: Offers for an American Express Business Loan are not available at this time per the American Express website.

Our Take

The bottom line: American Express business loans are a good option for cardholders who have been pre-approved by American Express and are looking for quick credit solutions.

Pros Cons


  • No collateral is required.

  • Potential to receive approval quickly.

  • No penalty for early repayment.

  • Minimum FICO score of 660.


  • Must have an existing American Express Business Card.

  • Must receive a pre-approved offer.

  • Can't be used to consolidate existing American Express debt.

Full Review

American Express Business Loans are only available to pre-approved American Express Business Card members.

Loan amounts range from $3,500 to $75,000, with repayment periods as short as six months and up to three years. Interest rates are fixed with annual percentage rates from 6.98% to 19.97%. These business loans are unsecured and don't require collateral.

If approved, your fixed monthly payment is based on your loan amount, the repayment period, and your loan's total interest. Typically, a more extended repayment period offers a lower monthly payment when compared to a shorter repayment period. However, you'll generally pay more in total interest. You can set up autopay and also repay your loan early without penalty.

Funds from the loan can be used for a wide variety of business purposes, including expanding your business, launching new products, consolidating business debt, and paying for marketing, repairs, equipment and inventory. However, loans can't be used for personal, family, or household purposes.

American Express is best for borrowers who:

  • Have an American Express Business Card. If you've had an account for over a year and have time to wait for an offer, this type of loan could be a good fit for you.

  • Want a relatively short repayment period.  Borrowers who want a short-term loan will find repayment periods from six months to three years.

  • Want flexibility in how the funds are used.  As long as the funds are for business purposes, you can use the loan money in many different ways.

American Express loan features

Loan amount

From $3,500 - $75,000.


6.98% to 19.97% with fixed interest rates.

Origination fees



6, 12, 24 or 36 months. (No prepayment penalty.)

Repayment schedule


Funding speed

3-5 business days after accepting loan terms.

Where American Express stands out

Flexible loan terms

Eligible borrowers can select loan amounts as small as $3,500 to as large as $75,000. In addition, repayment schedules of six, 12, 24 and 36 months allow you some flexibility in determining a monthly payment amount that works for your business. The loan can be paid off early without penalty. Other than being for business purposes, there are few restrictions on how you can use the money.

Relatively quick process

Because American Express only makes the offer to pre-approved card members, the loan approval process can be quick for borrowers who aren't required to provide additional information. Also, once the borrower has accepted the loan terms, loan funds are generally received in three to five business days.

Online convenience

You can apply for your American Express Business Loan and accept loan terms online. After your loan has been funded, you can review your loan balance, monthly payment, due dates and payment history through your American Express online account. You can also make monthly electronic payments, set up auto payments and confirm receipt of your payment online.

Where American Express falls short

Loan accessibility

American Express Business Loans are limited to business card members of American Express. Before members can apply, they need to be notified by American Express that they're pre-approved. Consequently, this loan isn't an option for everyone. In addition, because one of the factors used for eligibility is a minimum of one year of account history, there isn't an opportunity to apply for a business card and loan at the same time.

Debt consolidation limits

An American Express Business Loan can be used to consolidate business card debt, but that doesn't include American Express cards. Also, you can't pay off more than four cards with the loan and the minimum payoff amount for each card is $1,000, with a total payoff of at least $3,500.

American Express loan requirements

  • Valid offer inviting you to apply for a pre-approved business loan.

  • At least 18 years old and a U.S. citizen or resident.

  • American Express Business Card Member.

  • One year of account history.

  • Minimum FICO score of 660.

How to apply for a loan from American Express

American Express Business Loans are offered to eligible business card members directly. Sign in to your American Express account to check for a pre-approved offer or verify your eligibility with your business card information to see the maximum loan amount and rate.

If you're interested in the offer, you can apply online or by phone. You'll be asked to provide some information on your business and select a loan amount and payment option. If the loan is approved and you accept the terms, you can expect to receive your money in three to five business days.

Alternatives to American Express


If a quick loan process is a priority, Fundbox is an online lender that you may want to consider. You can apply online and potentially receive a decision within minutes. Also, funds can be transferred to your bank account within a few business days. Fundbox offers small-business lines of credit up to $150,000 and repayment options from 12 to 52 weeks, depending on the product. Some factors required for qualification include a personal FICO score of 600 or more, a business in operation for at least six months, and annual revenue of at least $100,000.

Capital One Business Loans

Capital One is an option to consider if you want to get a small-business loan from a financial institution that also offers credit cards. Capital One offers business loans and lines of credit ranging from $10,000 to $5 million, along with a variety of business credit cards with reward programs. You can apply any time but need to be in business for at least two years and have a business checking account with Capital One. Like American Express, autopay can be set up for your loan or credit line.

Compare business loans

If you'd like to compare loan options, NerdWallet has a list of small-business loans that are best for business owners. All of our recommendations are based on the lender's market scope and track record and the needs of business owners, as well as rates and other factors so that you can make the right financing decision.