AmEx Gives Small Businesses a Break
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Small business owners have long relied on credit cards to help finance their fledgling ventures, only to drown under the weight of humongous interest payments.
A little relief is on the way.
The American Express Co. has introduced an Optima Card for small businesses with a 9.99% interest rate, down from 15.9%. In addition, small business owners can now use their cards “for a broader range of purposes than just taking clients out to dinner or filling their car up with gas,” American Express spokesman Richard D’Ambrosio said. “They can now buy inventory, for instance.”
American Express defines small companies as having less than 100 employees and revenues under $10 million. The card has a maximum line of credit of $50,000.
American Express introduced the card in response to demand from small business owners and has launched a national television campaign publicizing it.
One caveat: Only entrepreneurs with good credit histories need apply.
For more information, call 1-800-SUCCESS.
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