Bluevine and American Express® Business Line of Credit offer straightforward, online applications that take just a few minutes to complete. Typically, the initial application will ask basic questions about your business, your credit history, and your monthly revenue. American Express® Business Line of Credit has you connect your business bank accounts to your application so they can give you a decision in real-time.
Bluevine can give you an initial decision in as little as five minutes. Both companies, however, may need you to provide additional paperwork prior to final approval. Additional paperwork may include, but is not limited to:
- Photo ID
- Personal and business taxes
- Business bank statements
- Business license and registration
- Business plan, including purpose of the loan
During the final application stage, Bluevine and American Express® Business Line of Credit will do a hard-pull on your credit, which will impact your score. If approved, Bluevine offers same-day funding. American Express® Business Line of Credit does not state any specific funding times, but does say it will take place in a timely manner.
Bottom Line: Bluevine is our pick for ease of application and fast funding times. If you need your line of credit as soon as possible, we recommend applying with Bluevine in hopes of a shorter funding time.