Reuters reported American Express (AmEx) wants to grow small business lending to make up for revenue it expects to lose after its credit card partnership with Costco Wholesale ends this year.
Reuters noted that AmEx will pay an undisclosed amount to feature its charge cards on Fundera, an online marketplace.
Reuters said the charge cards AmEx offers on Fundera, called Open, are designed for companies that need to fund large spot purchases of inventory or raw materials, and can pay off the balance in full each month.
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