MasterCard Expands Services for Small Business Segment with Kabbage Partnership
Small Businesses Now Have Fast, Simplified Access to Funding
Small- and mid-sized businesses (SMBs) now have a more flexible and convenient way to access working capital loans through a collaboration announced today by Kabbage Inc. and MasterCard. MasterCard, a leading global payments company, and Kabbage Inc., a leading online provider of small business loans, have formed a partnership whereby MasterCard will make Kabbage’s data and technology platform available through MasterCard’s network of acquirers. This relationship will provide MasterCard’s SMB partners access to working capital through their acquirer network and will deliver a simplified loan alternative for SMBs to grow their businesses.
“MasterCard is committed to delivering the tools and solutions necessary for small businesses to thrive here in the U.S.,” said Les Matthews, group head, Emerging Merchants, MasterCard. “Kabbage and MasterCard share a common vision in that advances in payment technology and access to funding are critical in supporting the small business segment and fueling their growth.”
“We are honored that MasterCard, a global leader in payments and commerce, selected Kabbage as its partner to bring our breakthrough funding platform to its acquiring customers,” said Rob Frohwein, Kabbage co-founder and CEO. “This partnership speaks to the power and scalability of our technology, and the rapid pace at which Kabbage funding is becoming the preferred option for businesses to get the capital they need to grow.”