AmEx Pay Over Time Competitors, Part 1
Six US-based competitors to American Express' Pay Over Time program that offer short-term loans, cash advances, business loans, and/or other comparable tools to small businesses are BlueVine, Fundbox, OnDeck, Lendio, Funding Circle, and Kabbage Inc. Details about these competitors, including an overview of what they do, have been provided in the attached spreadsheet. Although Kabbage Inc is in the process of being acquired by American Express, we have included it in this list pending the acquisition. We determined that these are some top competitors to American Express' Pay Over Time program based on their similar extended financing product offerings to the same target market, i.e small businesses in the US, as well as multiple mentions across various financial services sites, including The Simple Dollar, business.org and Nerdwallet. Although Lendio is a lending marketplace that connects borrowers to lenders, including American Express, it maintains a large network of over 75 lenders, offering a wide range of small business loans, hence a competitor.
- BlueVine is a Redwood City, California-based financial services company that offers a suite of financial products designed to meet the needs of small business owners, including business checking account services, lines of credit, term loans, and invoice factoring.
- Fundbox is a San Francisco, California-based fintech company that provides a B2B payment and credit network platform that leverages machine learning and transactional data of small businesses to offer invoice financing and line of credit facilities. Instead of a rigorous application process, the company requires small businesses to connect their accounting software or bank accounts to its platform for eligibility assessment.
- OnDeck is a multinational online small-business-lending company operating in Canada, Australia, and the United States (US), with offices in New York; Arlington, Virginia; and Denver, Colorado. The company offers term loan, line of credit, and SBA PPP loan facilities to small businesses.
- Lendio is an online lending marketplace platform that connects small business owners to more than 75 lenders to offer a wide range of credit facilities, including business lines of credit, SBA loans, short term loans, business term loans, merchant cash advances, equipment financing, commercial mortgages, accounts receivable financing, startup loans, and business acquisition loans.
- Funding Circle US is a multinational peer-to-peer small business loan platform operating in the United Kingdom, Germany, Netherlands, and the United States, with headquarters at San Francisco, California. The company's credit facilities include SBA loans, business term loans, merchant cash advances, business lines of credit, invoice factoring, and working capital loans.
- Kabbage Inc is a Georgia, US-based financial services company that leverages technology and data from various sources, such as online sales, banking information, and shipping activity, to assess eligibility and offer automated cash flow solutions to small businesses, including quick-access ongoing lines of credit of up to $250,000 through its online lending platform.