Small Business Lending, Made Fast & Easy
Karl Ulrich does a great job of summarizing what Kabbage, founded by Kathryn Petralia, does, after several minutes of intense conversation around APRs and credit lines: “I can get a reasonable amount of money in ten minutes, at not-onerous interest rates, with you guys doing the work of filling out the forms based on access to my financial records.”
Here’s how Kathryn puts it: “Kabbage is a data and technology platform, enables real-time lending just to small businesses. We do this both directly in the US, and deployed over $4 billion to 130,000 small businesses in the US, and we also operate internationally, through partnerships with large institutions that licensed our technology to do the same thing abroad. We partner with big banks like Santander, ING, and Deutsche Bank. And our customers are able to, using our automated platform, get through the entire application process for a small business loan in less than ten minutes, and actually in many cases have funds in their accounts.”
Listen to their half hour conversation for a deep dive into small business lending and how Fin Tech—and especially Kabbage—are changing how it happens.