American Express Business Blueprint Review

Pros

• Reasonable borrower qualifications
• Business banking with high APY available
• No application, origination, maintenance, or service fees
• No early payment penalty

Cons

• Rates can be expensive
• No long-term financing options
• Relatively low cap on loans

What Is American Express Business Blueprint (Formerly Kabbage Funding)?

American Express Business Blueprint is an online lending platform that offers lines of credit and business banking services to eligible small businesses. Formerly known as Kabbage, American Express Business Blueprint seems to be continuing the policies and practices of the brand it purchased in 2021.

Note: If you’re looking for a small business loan, you won’t find those here. Amex offers only lines of credit. Check out our suggestions for the best small business loans instead.

In our original Kabbage review, we stated that, all things considered, a small business could look for a long time without finding a more convenient lender than Kabbage. Will American Express’s Business Blueprint Kabbage takeover change that assessment?

Services Offered By American Express Business Blueprint

American Express Business Blueprint is a cash management hub built to serve small businesses. Since acquiring the well-known Kabbage lending brand, Amex rebranded Kabbage services under its Business Blueprint line.

The following cash management tools are available from American Express Business Blueprint:

• Business Lines Of Credit: When you apply for a line of credit,  you can draw upon that credit as needed up to your predetermined credit limit. Each time you draw on your line of credit, you essentially open a new installment loan. Expect to pay interest each month only on the total amount of funding you’ve used, not the full credit limit. That’s one way a line of credit compares favorably to a term loan.
• Payment Accept: Amex’s merchant services system lets you accept card payments online with a flat transaction fee of 2.25%. You’ll also be able to create custom invoices and share URL pay links via text or email.
• American Express Business Checking: This Amex business checking account lets you earn a competitive APY with no monthly maintenance fees and a cash-back option called Membership Rewards. If you need business banking services, this account is worth a look.

As far as lending goes, American Express Business Blueprint offers just one option with average lending amounts. Repayment infrastructure is convenient, with both dashboards and a mobile app available. These factors add up to a 2.8/5 for services.

Borrower Qualifications

To determine your eligibility for a Business Blueprint line of credit, American Express reviews information about your bank accounts, prior credit, and repayment history. Expect to have your business’s average monthly revenue and transaction volume analyzed, among other metrics.

The company notes that not all industries will be eligible for a line of credit from Amex. And, of course, you must be at least 18 years old to apply.

To qualify for funding, here’s what you’ll need:

You will need to consent to a credit check during the application process. This is a one-time hard inquiry, and it allows Amex to review the information within your report when considering approval. Applicants in fair to excellent categories are more likely to qualify.

Finally, you must have a valid business checking account to apply. You can sign up for a linked Business Blueprint checking account or choose a different banking partner from our list of the best small business bank accounts.

All-in-all, American Express Blueprint’s borrower requirements favor good credit history and business stability over revenue, making it a good fit for modest but stable businesses. Very young businesses and merchants with fair or worse credit may run into some roadblocks, however. We give the service a 4/5 for eligibility requirements.

Rates & Fees

These are the terms and fees stated on the American Express website:

American Express Business Blueprint lines of credit have a term length of 6, 12, 18, or 24 months. If your loan has a six-month term, the minimum you can draw is $500. For longer terms, the minimum draw is $10K. Funds are generally available for your use within one to three business days.

With a business line of credit, you can draw up to the total credit limit. Each month, you repay 1/6th, 1/12th, or 1/18th of the principal you owe, plus a fee. Payments will be deducted automatically from your linked business bank account. You pay only for your monthly outstanding balance, not the total credit limit.

American Express Business Blueprint’s fee structure is complex and opaque. That’s a change from the Kabbage days when you could use a Kabbage loan calculator to determine the actual costs you’d pay. This new lack of transparency can make it hard to compare the costs of a business loan from some top lending alternatives.

We do know that you can expect to pay 3%-9% on a 6-month term, 6%-18% on a 12-month term, and 9%-27% on an 18-month term line of credit.

Other than the monthly borrowing fee, there are no additional fees. For example, you will not be charged origination fees, draw fees, annual fees, monthly maintenance fees, or application fees. You’ll also pay no prepayment fees if you pay back your loan early. In an industry teeming with hidden fees, this earns American Express Blueprint a 4.2/5 in this category.

Application Process

The application process is completed online and requires you to share information about yourself and your business. You will also have to give the lender read-only access to your business bank account and any other data channels you use (such as Amazon, PayPal, and QuickBooks). American Express uses the information provided to determine your monthly fee and maximum credit line.

The lender will perform a hard pull on your credit during the application stage and use your credit history to help verify your identity and determine risk.

An algorithm decides your rates and fees. It generally only takes a few minutes for the system to determine whether to approve or deny your application. However, if the lender has trouble verifying information, the process might take four to seven business days. You might also be asked to provide additional information before you receive your credit line.

Once approved, you can begin requesting funds, which typically will be sent to your designated, verified bank account within three business days. You will not incur any fees until you draw funds, and your repayment amount will depend on your outstanding balance.

We give American Express Blueprint’s application process a 3.5/5. While it’s simple and easy when all goes according to plan, some customers should expect a slightly more drawn-out process. Time to funding is about average.

Sales & Advertising Transparency

In our last Kabbage review, we rated Kabbage highly in this area because the company took pains to disclose all numbers, fees, application procedures, and terms of service on its website.

They’re still there under the American Express Blueprint rebrand, but you’ll have to look a little harder and read the fine print (under terms and conditions) to find everything you need.

As it is still available, we will give Amex credit for it — just not full credit. We give the service a 4/5 for transparency.

Customer Service & Technical Support

You’ll find a wide array of self-help options in addition to several common contact methods.

If you need help with your American Express Business Blueprint account, these avenues are available to you:

• Phone: Phone support is available 24/7.
• Help Center: Find helpful information and answers to common questions in the searchable online Help Center.
• Videos: Visit the Amex YouTube channel for helpful videos and customer success stories.
• Social Media: Amex invites customers to connect on Facebook or tweet questions directly. The company also maintains accounts on Instagram, LinkedIn, and YouTube.

The availability of customer service, plus its generally favorable customer reviews, carry it above the average mark to a rating of 3.1/5 in this category.

Amex Business Blueprint User Reviews

Kabbage is no longer tracked by the Better Business Bureau, and American Express is currently not rated. American Express had 4,461 complaints filed against it in the last three years, with 1,858 of them filed in the last 12 months. Amex also has 472 user reviews on the watchdog site, with an aggregate score of 1.08/5. Remember that American Express is a huge company primarily known for its credit card network, so very few of these reviews and complaints have anything to do with American Express Blueprint specifically.

Reviews are slowly starting to roll in for Amex Business Blueprint, but there’s not enough accumulation yet to spot definitive trends. The apps have a 2.9/5 rating on Google Play and a 4.8/5 rating on the Apple App Store.

Negative Reviews & Complaints

Because American Express Business Blueprint is still new, there’s not a lot of user experience to sift through. We think it’s valid to share users’ experiences with Kabbage as a comparison point while we wait to see how the Kabbage American Express merger shakes out.

Here are the most common complaints we see online from users regarding Kabbage’s services:

• Rejections: Unfortunately, no lender can extend credit lines to all applicants. Even if you meet the company’s stated minimum requirements, you might be judged ineligible based on other information found during the application process. Furthermore, despite claims of fast decisions, some users say they waited a long time to get their official rejections.
• Front-Loaded Fees: Kabbage was criticized for its fee structure because you were required to pay the bulk of the fees in the early part of the repayment term. Although Kabbage technically didn’t have a prepayment penalty, the front-loaded fees made it difficult to save a significant amount of money by repaying early.
• Sudden Loan Limit Cut: Kabbage kept an eye on your cash flow, so if your business slowed down, your borrowing limit might drop or you could be cut off line entirely.

Positive Reviews & Testimonials

Overall, users reported being happiest with the lender’s:

• Straightforward Application Process: Many customers appreciated how easy it was to apply for funding.
• Fast Access To Cash: Customers appreciated being able to draw on their lines of credit whenever needed. And they liked how quickly the funds were made available to them.
• Good Customer Service: Though not all customers would agree, many said that Kabbage provided stellar customer service. In general, customers were generally pleased with the care they received from Kabbage.

Overall, Kabbage users seem to like the financial safety net provided by the line-of-credit-style structure. We will continue to monitor consumer review sites to see if Amex Business Blueprint lives up to the reputation Kabbage had with its customers. In the meantime, it gets a 3/5 rating from us for user reviews.

Is An Amex Business Blueprint Line Of Credit Right For Your Small Business?

There are a lot of things to like about American Express’s Business Blueprint. Many businesses will be eligible for the service, the application process is straightforward, the capital is always accessible, and Amex doesn’t charge extra fees. On the other hand, the service is limited — if you want something other than a line of credit or need more than $250,000, you’ll need to look elsewhere for funding.

That said, it does look like American Express has successfully salvaged Kabbage’s services, at the cost of being a bit less personal in its treatment of customers. We give American Express Blueprint an overall Merchant Maverick score of 3.6 out of 5.

Looking for more options? Check out our picks for the best working capital loans.

The Merchant Maverick Seal of Approval 🏆

American Express Business Blueprint	Apply Now

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see American Express Business Blueprint for yourself.

The Merchant Maverick Seal of Approval 🏆

American Express Business Blueprint	Apply Now

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see American Express Business Blueprint for yourself.