What kind of company is Kabbage?

Overview of Kabbage

Kabbage is an online financial technology company based in Atlanta , Georgia. The company was founded in 2008 by Rob Frohwein, Marc Gorlin, and Kathryn Petralia. It offers lending solutions and various other financial services to small businesses.

Services of Kabbage

Kabbage offers a variety of financial services to small businesses, including lines of credit, payment processing, and checking accounts. It is famous for providing small business loans, where it processes loans faster than most traditional banks and lenders.

Acquisition by American Express

In 2023, American Express Business Blueprint acquired Kabbage. The acquisition aimed to expand American Express's portfolio into small business lending. Kabbage's loan platform became a part of American Express's suite of lending products, including credit cards and charge cards.

Recent Controversy

In 2022, Kabbage faced a lawsuit that accused the company of engaging in false and misleading practices in the administration of the Paycheck Protection Program (PPP). The case has not yet concluded, and Kabbage has argued that the accusation lacks merit.

Conclusion

Kabbage is an online lending platform that provides financial solutions to small businesses. It was acquired by American Express in 2023 and offers a range of financial services. It has faced some controversies, but it remains a popular option for small business owners seeking fast and accessible lending.