“Small businesses are essential to America’s economy, as they are responsible for two out of every three new jobs in the United States,” said Ronald Chang, president of UPS Capital. “Since the recession, small businesses have had a difficult time accessing the capital they need to manage cash flow, hire new employees or purchase new inventory and equipment. By partnering with Kabbage, UPS Capital can now help more small businesses grow and achieve their potential.”
“UPS has been an important investor and partner for Kabbage since we launched four years ago,” said Rob Frohwein, Kabbage co-founder and CEO. “We are thrilled to expand this relationship today to be able to seamlessly deliver capital to millions of UPS small business customers.”
About UPS Capital
Nobody understands transportation and logistics like UPS®. And while you’ve probably never thought of a UPS company for financing and insurance services, the global supply chain expertise of UPS Capital® uniquely positions us to help protect companies from risk and leverage cash in their supply chains. Insurance companies and banks can’t say that. UPS Capital has offices throughout the United States, as well as operations in Asia, Europe and Latin America. For more information, visit www.upscapital.com, call 1-877-242-7930, or follow UPS Capital on Linkedin (https://www.linkedin.com/company/ups-capital) and Twitter (@UPSCapital).
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at ups.com® and its corporate blog can be found at Longitudes.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
About Kabbage
Kabbage Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide fully automated funding to small business in minutes. Kabbage leverages data generated through business activity such as accounting data, online sales, shipping and dozens of other sources to understand performance and deliver fast, flexible funding in real time. Through its Karrot brand, Kabbage offers simple consumer loans through its automated platform. Kabbage is venture-funded and backed by SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, TCW/Craton and additional investors, including Ron Conway’s SV Angel, David Bonderman, founder of TPG Capital and Warren Stephens, CEO of Stephens Inc. All Kabbage and Karrot U.S.- based loans are made by Celtic Bank, a Utah-Chartered Industrial Bank, member FDIC. For more information, please visit http://www.kabbage.com and follow the company on Facebook and Twitter.
