Kabbage from American Express Introduces Kabbage Funding Kabbage from American Express Introduces Kabbage Funding
AMEX Kabbage app

Kabbage from American Express Introduces Kabbage Funding

When it comes to small business success, one of the most important factors is cash flow. Given this reality, American Express has announced the launch of Kabbage Funding, giving business owners another option for obtaining working capital.

Eligible small businesses can now open flexible lines of credit, ranging from $1,000 to $150,000. According to the company, the application process can be completed in minutes, giving business owners quick access to capital. This option comes with no application fees, origination fees, annual fees, or monthly maintenance fees. Once approved, businesses will not need to reapply in order to access their line of credit and draw funds.

The launch of Kabbage Funding follows American Express’s acquisition of the FinTech Kabbage last year. Since then, the company has introduced Kabbage Checking as well. Incidentally, that launch was later followed by Amex also debuting a different business checking account. Although the two account options do bear some similarities, Kabbage Checking accounts are provided by Green Dot Bank while the more recent American Express Business Checking comes from American Express National Bank.

Elsewhere, this new line of credit option also continues American Express’s long-standing commitment to small businesses. The most high-profile example of this focus is Small Business Saturday, which yielded a reported $23.3 billion in sales last month — a record figure for the retail holiday’s 12-year run so far. Meanwhile, since the pandemic, Amex has also rolled out several grant programs and made other efforts to assist entrepreneurs during what’s been a turbulent time.

Commenting on the launch of Kabbage Funding and the need for it, the company’s co-founder and Amex SVP Rob Frohwein stated, “Most small business owners start a company to pursue a passion, not to spend time managing their cash flow and balancing their books. 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.” In their press release, Amex also noted that the new offering “builds on American Express’s momentum to go beyond the Card and become an essential partner to small businesses through a broad range of cash flow management tools.”

With American Express’s purchase of Kabbage still fairly fresh, it’s clear that the company is now ready to start putting the brand’s technology to work. Beyond Kabbage Funding and Kabbage Checking, Amex also plans to further expand its Kabbage Payments feature — which offers invoicing and card payment acceptance solutions — in 2022. Going forward, it will be interesting to see what other products and offerings come out of the new Kabbage and how they might benefit small businesses across the country.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...