Kabbage and UPS Partnership Fuels Small Business Growth

Discussion in 'UPS Pressroom News' started by cheryl, Feb 15, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    UPS Customers Can Increase Cash Lines By Using Their Shipping Data; Kabbage Gains New Debt Facility from UPS Capital®

    Kabbage, Inc, a provider of working capital for small businesses, and UPS (NYSE: UPS) today jointly announced an important alliance for small businesses across the United States.

    Effective today, 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, seeing an opportunity to directly help small businesses grow, UPS Capital has provided Kabbage with a new debt facility specifically intended to fund small e-commerce businesses through Kabbage's proprietary system.

    "Access to working capital for small businesses is fundamental to the country's economic recovery," said Alan Gershenhorn, UPS chief sales and marketing officer. "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. We're looking forward to extending our alliance with Kabbage and the thousands of e-commerce companies it supports."

    The relationship between Kabbage and UPS is truly innovative and 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. The fact that UPS Capital also is providing a credit facility to Kabbage in connection with this new data relationship reinforces UPS's commitment to small business.

    "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," said Marc Gorlin, chairman of Kabbage, Inc. "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. We are fortunate and humbled to have such a committed partner."

    Kabbage, which officially launched in October, 2010, has become a critical piece of the operational puzzle for many online merchants who sell on marketplaces like eBay, Amazon, Yahoo! Stores and Etsy as well as operate their own independent online stores. Over 15,000 online merchants have turned to Kabbage for the working capital they need to grow their businesses. To learn more, log on to www.kabbage.com.