Kabbage launched a new program called Kabbage Funding that will offer eligible small businesses flexible lines of credit between $1,000 and $150,000 with the backing of American Express.
“Most small business owners start a company to pursue a passion, not to spend time managing their cash flow and balancing their books,” Rob Frohwein, co-founder of Kabbage and a senior vice president at American Express, said. “Our suite of digital cash flow solutions is designed to give small business owners back time in their day, and Kabbage Funding offers convenient funding whenever they need it.”
Kabbage Funding will offer business lines of credit from American Express, approving customers by analyzing business data in real-time. The new program adds to Kabbage’s suite of products, including Kabbage Checking, which was launched in June. American Express has also begun offering Kabbage Payments to existing customers, with the program to become more broadly available in 2022.
In 2020, American Express entered into an agreement to acquire Kabbage.
