American Express Loans for Small Business

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February 29, 2016
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February 29, 2016
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American Express Loans for Small Business

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American Express Co (AXP.N) wants to grow small-business lending to make up for revenue it expects to lose after its credit card partnership with Costco Wholesale Corp (COST.O) ends this year. Last week, American Express said it will pay an undisclosed amount to feature its charge cards on Fundera, an online marketplace. AmEx hopes small-business owners will compare loan terms and rates and choose its cards over traditional loans. The company is bracing for the end of co-branded cards with Costco that accounted for 8 percent of worldwide annual spending on AmEx cards in 2014, and 20 percent of the company’s outstanding loans.

American Express Loans for Small Business

American Express Co (AXP.N) wants to grow small-business lending to make up for revenue it expects to lose after its credit card partnership with Costco Wholesale Corp (COST.O) ends this year. Last week, American Express said it will pay an undisclosed amount to feature its charge cards on Fundera,…
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