When Jordie Kern set out to start his company, 7 Eagle Group, his aims went beyond founding his business. He had a mission. Jordie, the son of a WWII vet, had regretted not joining the military out of high school and had tremendous respect for the men and women who serve our country. “I thought if I could create a business that helps connect military veterans and military spouses with companies that are looking for top talent – that could be amazing.”
Jordie felt confident that veterans, their spouses, and those transitioning out of the military could be an invaluable resource to corporate America, especially in the areas of cyber security and information technology. “They bring leadership skills, grit, dedication, and an incredible can-do attitude.” So in 2014 Jordie founded 7 Eagle Group and set to work helping these job seekers get careers in the civilian sector.
For the first five years, Jordie ran the company as a one-man business, but as things gained momentum, he started to bring on team members – and dream about growing even more.
“Over time I applied for loans from different banks – it can be an unbelievably painful process – and it would only be for, say, $5,000,” he recalls. “I got to the point where I just quit applying.”
New hires and fresh marketing campaigns
Jordie has been a satisfied American Express® Card Member for 29 years and was using the Business Platinum Card®1for 7 Eagle Group when a representative reached out to tell him about the American Express Business Line of Credit2. “I had been thinking about all these things I wanted to do for the business, and I said, ‘This is absolutely perfect for what I need right now!’”
“The application was straightforward– it was like night and day compared to what I had experienced elsewhere.” He soon had access to a line of credit, which was increased within a matter of months.
With his business line of credit, Jordie was able to gain the financial flexibility to hire a videographer and a Vice President of Recruiting, and to fund several direct mail campaigns. “These were all things I had been dreaming of doing – and they all paid for themselves.”
“American Express’s business line of credit really allowed me to put more muscle behind my business and level the playing field with some of my bigger competitors.”
Business success with far-reaching impact
7 Eagle Group is an example of its mission in action. Today they have more than 45 team members, the vast majority of whom are veterans, military spouses, or transitioning service members. And they speak to many candidates on any given day, as they fill scores of positions in any given year.
When asked what he found most valuable about having access to the American Express Business Line of Credit, Jordie didn’t hesitate. “It’s not the money. It’s that we’ve been able to put more military veterans to work because of this – they’re now in a rewarding and lucrative career path. And it doesn’t just affect those who get placed in the job – it’s also the spouse, the kids, the friends – when someone is passionate about going to work and making a good wage, what better result is there?”
Story Footnotes
¹Individual Card application and approval required.
2American Express® Business Line of Credit offers access to a commercial line of credit ranging from $2,000 to $250,000; however, you may be eligible for a larger line of credit based on our evaluation of your business. Each draw on the line of credit will result in either a separate installment loan or a single repayment loan. All loans are subject to credit approval and are secured by business assets. Every loan requires a personal guarantee. For single repayment loans, we charge a total loan fee that ranges from 0.95%-1.80% of the amount you borrow for 1-month loans, 1.90%-3.75% for 2-month loans, and 2.85%-6.05% for 3- month loans. Single repayment loans incur a loan fee at origination and the principal and total loan fee are due and payable at loan maturity. There are no required monthly repayments for a single repayment loan. Repaying a single repayment loan early will not reduce the loan fee we charge you. For installment loans, we charge a total loan fee that ranges from 3-9% of the amount you borrow for 6-month loans, 6-18% for 12-month loans, 9-27% for 18-month loans, and 12-18% for 24-month loans. Installment loans incur a portion of the total loan fee for each month you have an outstanding balance. If you repay the total of the principal of an installment loan early, you will not be required to pay loan fees that have not posted for subsequent months. For each loan that you take, you will see the applicable loan fee before you take the loan. Once you take the loan, the loan fees that apply to that loan do not change. We reserve the right to change the loan fees that we offer you for new loans at any time. American Express reserves the right to offer promotions to reduce or waive loan fees from time to time. Not all customers will be eligible for the lowest loan fee. Not all loan term lengths are available to all customers. Eligibility is based on creditworthiness and other factors. Not all industries are eligible for American Express® Business Line of Credit. Pricing and line of credit decisions are based on the overall financial profile of you and your business, including history with American Express and other financial institutions, credit history, and other factors. Lines of credit are subject to periodic review and may change or be suspended, accompanied with or without an account closure. Late fees may be assessed. Loans are issued by American Express National Bank.
Single repayment loans may become available to eligible new and existing Business Line of Credit customers at different times.
If you elect to have your loan funds disbursed directly to a third party payee, you are required to provide accurate and complete payee information. Payees must be located in the US or US territories. The per transaction payee payment maximum is the lesser of your then available line of credit and $100,000. Not all payee industry types are eligible. We may refuse a payee in our discretion or for reasons beyond our control. Loan funds sent to your payee may take up to three (3) banking days to post to the payee's business bank account, although payments may be delayed for a number of reasons and the payee's bank may have their own policy regarding how quickly to post a payment.
If eligible, you can be approved in minutes for a line of credit from $2,000 to $250,000 when we are able to automatically obtain your business data and verify your bank account. If a manual review is required, it will take longer to provide you with a decision.