Tagged: kabbage

September 23, 2022 @ 4:29 pm By JD Alois  |  

Kabbage, an online lender operated by American Express, has published its periodic Small Business Recovery Report – its 7th installment. The survey queried 550 small business leaders which indicate that year-over-year revenue, between July 2021 and July 2022, almost doubled (87%) while profits remained flat…. Read More

June 21, 2022 @ 8:04 am By JD Alois  |  

Earlier today, Goldman Sachs upped their expectations for a recession in the not-so-distant future raising the probability to 30% from 15%. Goldman is not alone in predicting a recession that would bring more economic pain to everyone. A survey distributed today appears to indicate that… Read More

September 20, 2021 @ 11:27 am By JD Alois  |  

In mid-2020, Kabbage, one of the best-known online lenders for SMEs in the US, was acquired by American Express (NYSE:AXP). At that time, co-founders Rob Frohwein and Kathryn Petralia said this was their first time sitting in the seat of the entrepreneurs selling a company… Read More

August 25, 2021 @ 2:50 pm By Omar Faridi  |  

Small businesses’ average total sales reached 80% of pre-COVID levels, according to a recent Kabbage Survey. COVID-19 vaccination rates among small business owners have outpaced the US national average while issues with recruitment and reopening protocols “persist,” the Kabbage team noted earlier this month. Kabbage,… Read More

June 14, 2021 @ 11:42 am By JD Alois  |  

Kabbage, an online lending Fintech that was acquired by American Express (NYSE:AXP) has announced the launch of “Kabbage Checking,” said to be the first business checking account offered by American Express and built for U.S. small businesses. To help encourage uptake of the new service,… Read More

January 3, 2021 @ 9:00 pm By Timothy Li  |  

Fintech enthusiasts welcome back to my 5th annual “Top Ten” Fintech prediction series. This year I’ve met a lot of powerful movers and shakers in the Fintech space. My take away from these meetings and interactions is how little do I know about this ever-expanding… Read More

August 18, 2020 @ 8:49 am By JD Alois  |  

Kabbage, one of the best known online lenders in the US, has signed an agreement to be acquired by American Express (NYSE:AXP). Rumblings of a potential deal between the two parties have been circulating for some time now. In a public statement, American Express said… Read More

August 6, 2020 @ 4:04 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced it will not be accepting new applications for the Paycheck Protection Program after August 6th (today). The online lender decided to close the application process for new applicants before the August 8th deadline in order to finalize existing applications…. Read More

July 22, 2020 @ 9:55 am By Samantha Hurst  |  

Global financial service platform Kabbage announced on Wednesday the launch of  Kabbage Checking, which is a new business checking account built for small businesses. According to Kabbage, the checking account gives small businesses the same capabilities, convenience, and security they expect with a traditional checking… Read More

July 2, 2020 @ 3:30 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Wednesday it has approved more than 209,000 Paycheck Protection Program (PPP) applications for $5.8 billion. Kabbage claimed it is the third-largest PPP lender in the country by application volume.  As previously reported, the PPP is part of the… Read More

June 18, 2020 @ 10:25 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Thursday it will now and always recognize Juneteeth as a company holiday. Juneteeth is an official American holiday and an official Texas state holiday that celebrates annually on the 19th of June to commemorate Union army general, Gordon… Read More

June 17, 2020 @ 11:12 am By Samantha Hurst  |  

  Global financial service platform Kabbage announced on Tuesday it has expanded its Paycheck Protection Program (PPP) with a customized application for drivers and delivery people who use Uber in the U.S. The Paycheck Protection Program is part of the $2 trillion Coronavirus Aid, Relief,… Read More

May 18, 2020 @ 9:54 am By Samantha Hurst  |  

Global financial service platform Kabbage announced on Monday that more than 110,000 U.S. small businesses have been approved to receive over $3.5 billion in Paycheck Protection Program (PPP) funding through its online lending platform.  As previously reported, the Paycheck Protection Program is part of the… Read More

April 18, 2020 @ 4:10 pm By JD Alois  |  

Many Fintechs are actively engaged in supporter consumers and businesses in the battle to survive in an economy battered by the COVID-19 pandemic. Simultaneously, some funding has dried up putting some startups at risk. This may include Fintechs. Yet one report expects that Fintechs may… Read More

April 7, 2020 @ 5:06 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Tuesday it has partnered with a technology-enabled bank and authorized lender of the Small Business Administration (SBA) to deliver billions of dollars of Paycheck Protection Program (PPP) loans to American small businesses. Kabbage claims its program has received more… Read More

April 5, 2020 @ 7:07 pm By JD Alois  |  

Fintechs are starting to furlough employees as the economy tanks due to the COVID-19 induced decline. While not officially in recession, major economies are bracing for the worse while businesses are compelled to let employees go as business activity slows. On Monday, it was reported… Read More

March 30, 2020 @ 12:55 pm By JD Alois  |  

Kabbage, an online lender focusing on SMEs, is apparently temporarily laying off employees in light of the COVID-19 pandemic. Additionally, a support center in Bangalore is said to be shuttering and executives are taking pay cuts as the Fintech struggles to adapt in a landscape… Read More

March 18, 2020 @ 9:00 am By JD Alois  |  

Online lender Kabbage has launched a new website “www.helpsmallbusiness.com” designed to support SMEs during the Coronavirus crisis. According to a release distributed by the Fintech, the initiative is a “call to action” that enables anyone to purchase an online gift certificate from participating small businesses… Read More

February 18, 2020 @ 10:25 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Tuesday its latest data, which polled more than 600 U.S. small business owners, revealed the majority of small businesses believe their revenue growth underperforms their peers. Specifically, 60% of respondents ranked their revenue growth below the 50th percentile… Read More

February 4, 2020 @ 12:32 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Tuesday it has launched access to custom loans for Kabbage Payments customers. Kabbage reported the new lending product offers U.S. small businesses more control over short-term funding needs. Kabbage also revealed that with custom loans, Kabbage Payments customers choose any… Read More