What Is The Makeup Of The Membership Of Nfib
WASHINGTON and ATLANTA, March thirty, 2016 /PRNewswire/ -- The National Federation of Independent Business (NFIB), the leading small business association, announced a new strategic partnership with Kabbage Inc., the leading engineering and information platform powering minor business lending. This is the first partnership with an automated lending platform provider that volition attain NFIB's customer base of more than 325,000 members, and growing.
"Many of our members – like a number of minor businesses – struggle with the standard loan procedure when they demand access to working majuscule," said Marking Garzone, NFIB's Senior Vice President of Marketing. "Kabbage has helped more than 100,000 small businesses get much needed financing, and nosotros're excited that nosotros can help connect our members with Kabbage."
Kabbage combines superior customer service with an piece of cake-to-employ interface, and has transformed the manner pocket-sized businesses tin qualify for immediate access to capital. Through its fully automatic platform for analyzing and monitoring key business data, Kabbage has helped thousands of business organisation owners obtain the funding they need to grow their business concern – from tool and equipment purchases to back up for marketing expenses and payroll – with a line of credit of up to $100,000.
"Our goal is to empower every small business to do more through Kabbage'south flexible lending platform," said Kathryn Petralia, co-founder and COO at Kabbage. "We're proud to work with NFIB to help its cadre member base of operations succeed past making it simpler to admission the capital they need to grow, and with the all-time-in-grade customer service experience bachelor today from whatever online lender."
Modest businesses typically seek loans for less than $250,000, simply applying for those smaller amounts makes it less likely they tin become a loan from a traditional lender. Lack of admission to working capital is fifty-fifty worse for those who have been in business for less than two years. Small business owners are already overworked, and the time consuming process of seeking financing is an additional burden. Co-ordinate to a Federal Reserve written report, the boilerplate minor concern loan applicant spends 26 hours searching for credit, contacts 2.7 financial institutions and fills out 2.7 loan applications.
Every bit an added do good to this partnership, NFIB members who qualify for a business organisation line of credit with Kabbage volition receive a $200 Amazon e-gift card.
According to one poll reported in the Wall Street Journal, 62% of small businesses seeking financing take had to postpone business organisation investments because they could not get a loan.
"Access to working upper-case letter for an expansion, repairs or brusk-term cash flow needs is essential for small businesses to thrive," Garzone said. "Nosotros know that our members will benefit from this valuable resource."
For more data, visit NFIB.com/kabbage
About NFIB
NFIB is the nation'due south leading pocket-size business concern clan, with offices in Washington, DC, and all l land capitals. Founded in 1943 equally a nonprofit, nonpartisan organization, NFIB gives small and independent business organisation owners a vocalization in shaping the public policy issues that impact their business organization. NFIB'south powerful network of grassroots activists sends their views direct to state and federal lawmakers through a unique member-just ballot, thus playing a critical part in supporting America'south free enterprise system. NFIB's mission is to promote and protect the right of members to own, operate and abound their businesses. For more than information visit NFIB.com and follow NFIB on Facebook and Twitter.
About Kabbage, Inc.:
Kabbage Inc., headquartered in Atlanta, has pioneered the first financial services data and engineering science platform to provide fully automated funding to minor businesses in minutes. Kabbage leverages data generated through business activity such every bit accounting information, online sales, shipping and dozens of other sources to empathize functioning and deliver fast, flexible funding in real fourth dimension. Kabbage is funded and backed by Reverence Capital Partners, SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, ING, Santander InnoVentures, Scotiabank, TCW/Craton and boosted investors, including Ron Conway'southward SV Angel, David Bonderman, founder of TPG Capital, and Warren Stephens, CEO of Stephen Inc. All Kabbage and Karrot U.Due south.-based loans are made by Celtic Banking concern, a Utah-Chartered Industrial Bank, Member FDIC. For more information, please visit http://www.kabbage.com and follow the company on Facebook and Twitter.
Contact NFIB
Alan Shenman
[email protected]
202-314-2059
Contact Kabbage
Katie Hutchison
Kabbage PR
[e-mail protected]
415-592-5960
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SOURCE National Federation of Contained Business organization
Source: https://www.prnewswire.com/news-releases/nfib-members-receive-new-benefits-through-strategic-partnership-with-kabbage-300242824.html
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