The best small-business loan to get is generally the one with the lowest rates and most ideal terms. But other factors — like time to fund, the loan's purpose and your business’s qualifications — play a role in determining the right type of financing and lender for your business. Learn more about the types of business loans.
What kind of business loan should you get?
It’s wise to keep your business finances separate from your personal affairs by opening a business checking account. Doing so will streamline your bookkeeping and, if you're self-employed, make it easier to calculate estimated taxes. Learn more about what you need to open a business banking account.
Do you need to open a business bank account?
Business credit cards can be a great option for short-term startup funding because they rely on your personal credit (instead of your business history) to qualify. But be aware of a high APRs and short repayment periods — or opt for a 0% APR card — if you won't be able to pay off a purchase quickly. Learn more about the best business credit cards for startups.
Should you use a business credit card to fund a startup?
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American Express® Business Line of Credit: 2023 Review
American Express offers working capital to business owners with fair credit, but the monthly fee structure can be confusing compared with other online lenders.