Fundera business loans
Get connected with short-term funding, SBA loans, lines of credit and more.
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Previously known as Kabbage Funding, the American Express Business Line of Credit is a relaxed eligibility credit line from $2,000 to $250,000. Instead of interest, you pay a flat monthly fee based on the loan term. And, each draw on the line becomes an installment loan with a 6, 12, 18 or 24 month term. What you’d pay is based on the term you choose, for example, 6-month lines of credit range from 3% to 9%, while 24-month lines of credit can range from 12% to 18%.
Borrowers with a minimum credit score of 660 and an average of just $3,000 in minimum monthly revenue may qualify. Pair that with no extra fees and a quick, low-doc application, it’s worthy of consideration. But one drawback is that the line may or may not replenish as you pay it down.
If you’re in the market for a competitive business line of credit, these alternatives may offer lower APRs and options to fit your needs better.
8.6 Great
Like AMEX, BlueVine offers credit lines up to $250,000, but it charges interest instead of a flat fee. Rates start at a competitive 7.8% APR there are no origination, draw or maintenance fees. Its credit score requirement is also a bit lower than AMEX's.
However, BlueVine requires $40,000 in monthly revenue and 24 months in business, so it's significantly harder to qualify for a LOC with Bluevine than with AMEX. And not all industries are eligible, such as auto dealerships and fintechs. But if you're an established business owner, BlueVine could help you save.
| Loan amount | $5,000 – $250,000 |
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| APR | Starting at 7.8% |
| Min. Credit Score | 625 |
| Loan amount | $5,000 – $250,000 |
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| APR | Starting at 7.8% |
| Min. Credit Score | 625 |
9 Excellent
Unlike a line of credit, SBA loans offer larger loan amounts and longer repayment terms. And, if it's the long application process keeping you from applying for an SBA loan, SmartBiz could be a great choice. It can connect you with an SBA lender and save time with its loan packaging service. The SBA process normally takes 60 to 90 days, but SmartBiz advertises that it can cut it down to 30 to 45 days.
Multiple SBA loans are available through SmartBiz, including the SBA 7(a) line of credit with a maximum amount of $350,000. Qualifying for an SBA loan isn't as simple as other types of business loans, but SmartBiz could make it easier. But it's not free — expect a referral fee and a packaging fee.
| Loan amount | $50,000 – $350,000 |
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| APR | Prime Rate, plus 3% to 5.75% |
| Min. Credit Score | 660 |
| Loan amount | $50,000 – $350,000 |
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| APR | Prime Rate, plus 3% to 5.75% |
| Min. Credit Score | 660 |
If you're struggling to qualify for a LOC with other lenders, Fundbox is a good option to consider. It's one of American Express' top competitors and offers a similar product: a revolving business line of credit up to $150,000 with a lower credit score requirement than AMEX.
Each withdrawal becomes a short-term loan of either 12 or 24 weeks, and like AMEX, it charges a weekly fee instead of interest. But unlike AMEX, Fundbox specializes in business lines of credit and gets better overall customer reviews.
| Loan amount | Up to $150,000 |
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| APR | Not stated |
| Min. Credit Score | 600 |
| Loan amount | Up to $150,000 |
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| APR | Not stated |
| Min. Credit Score | 600 |
9.4 Excellent
OnDeck's business line of credit is similar to AMEX's, but it's faster to fund. While most lenders require a day to transfer funds, withdrawals from OnDeck could be available within minutes. It also accepts low credit scores as low as 625.
As a low-doc lender, it may only require three months of business bank statements, which you can download from your online bank account. But it's an expensive option — save this lender for when you're willing to pay extra for convenience.
| Loan amount | $6,000 – $100,000 |
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| APR | 52.6% average APR |
| Min. Credit Score | 625 |
| Loan amount | $6,000 – $100,000 |
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| APR | 52.6% average APR |
| Min. Credit Score | 625 |
8.2 Great
Finance Factor isn't a direct lender like AMEX. It's an online, free connection service with multiple financing options for startups. It offers business lines of credit with introductory rates starting at 0%. And its startup funding option is up to $5,000,000 with a 0% intro rate for up to 21 months.
Credit score requirements vary depending on the loan and provider you go with, and only the most eligible applicants can get the lowest rates. Since Finance Factory isn't a direct lender, getting your funds may take longer, since you'll need to fully apply with a lender if you find a match.
| Loan amount | $5,000 – $5,000,000 |
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| APR | Varies by loan type |
| Min. Credit Score | 550 |
| Loan amount | $5,000 – $5,000,000 |
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| APR | Varies by loan type |
| Min. Credit Score | 550 |
Compared to other lenders, AMEX’s business line of credit is ideal for newer businesses. It only requires a minimum of $3,000 month revenue to qualify and the lack of interest charges, prepayment penalties, application fees and origination fees make it a competitive borrowing option. However, its 660 credit score requirement is a bit higher than some of the alternatives we’ve mentioned and unlike other LOCs, your line may or may not replenish as you pay down.
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Buy real estate, another business or expand your enterprise.
You’ll have an easier time qualifying if you have strong credit and high revenue.
Find financing to grow your business — or even buy another.
Stay away from big banks for a loan of this size.