Amex ending business capital lines

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Mogul of Pineapples
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Amex ending business capital lines

Postby Mogul of Pineapples » Mon Jan 12, 2009 3:57 pm

Effective January 15, 2009, American Express will discontinue its business capital line program and business line of credit. These were lines of credit for business that did not involve a credit/charge card.

I understand why they need to do that in this environment, and I know there are Amex OPEN business credit cards that could be used in place of it, but it's a pity for companies like this one: Pinson Communications - the seventh largest book wholesaler in America. that despite having zero debt, now has to re-think their business plan because of this change.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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Postby Cucumber » Tue Jan 13, 2009 1:29 am

That sux big time. :( The interest rates on the credit cards are higher too I would think...
Stop talking crap about him!

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Postby fffresh » Tue Jan 13, 2009 12:37 pm

Right now no one wants to be in the business of doing business with, well, other businesses.

Entrepreneurs and small business owners are the driving force behing America and today's anti-small-business environment makes starting or operating one increasingly more difficult.

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Postby KC95 » Thu Jan 15, 2009 3:05 am

so much for those tarp funds opening up the credit markets!

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