Alternative lender Kabbage has announced that it’s extending its business to offline, brick-and-mortar companies, Kabbage announced yesterday.
Kabbage claims it is the first company to use QuickBooks data to “instant approve and extend funding” to SMBs. The expansion opens Kabbage’s services to more than four million physical SMBs that use Intuit’s software, QuickBooks.
“We’ve been often asked when Kabbage would support the brick and mortar counterparts to online businesses. That day has arrived,” said Marc Gorlin, co-founder and chairman at Kabbage. “Today’s expansion dramatically accelerates Kabbage’s vision of democratizing access to capital for all small businesses.