Kabbage Inc., a provider of working capital for small businesses, and UPS jointly announced an alliance for small businesses across the United States. Small businesses will be able to direct UPS to share their shipping history with Kabbage via the Kabbage.com Website, making it possible for them to potentially obtain more capital at lower rates. In addition, UPS Capital has provided Kabbage with a new debt facility specifically intended to fund small e-commerce businesses through Kabbage’s proprietary system.
” This alliance with Kabbage is an example of how UPS and UPS Capital can help small businesses gain access to the working capital they need to grow their business,” says Alan Gershenhorn, UPS chief sales and marketing officer. “We’re looking forward to extending our alliance with Kabbage and the thousands of e-commerce companies it supports.”
Kabbage and UPS say their relationship will enable Kabbage to potentially increase working capital lines when businesses choose to share their UPS transaction data, which includes information related to the number and frequency of packages shipped.
“When given an opportunity to help small businesses grow, UPS has not only risen to the occasion but has been the company creating solutions that meaningfully address those challenges,” says Marc Gorlin, chairman of Kabbage. “At a time when it has been exceedingly difficult for small businesses to get financing, UPS has taken a concerted and thoughtful approach to helping its small business customers.”