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Kabbage Launches Online Hub to Help Boost Sales for U.S. Small Businesses Impacted By COVID-19
Thursday, March 26, 2020

Kabbage calls on everyone in the U.S. to buy gift certificates from participating small businesses to provide immediate financial support

ATLANTA, March 18, 2020 /PRNewswire-PRWeb/ -- Kabbage Inc., today launched http://www.helpsmallbusiness.com to support small businesses financially impacted by COVID-19. The initiative is a call-to-action across the U.S., enabling anyone to purchase an online gift certificate from participating small businesses to provide them with crucial financial support. Certificates can be redeemed in full after they're issued or in the future when the crisis has subsided. All revenue generated from gift certificate sales will be deposited via Kabbage Payments as soon as the next business day to participating small businesses to aid their ability to withstand cash-flow gaps caused by COVID-19.*

In minutes, U.S. small businesses can sign up for free on http://www.helpsmallbusiness.com to immediately seek financial support through gift certificate purchases from individuals throughout the U.S. Kabbage will also provide businesses a unique URL to easily share their personalized page with customers via text, email, web, social media or print. Consumers can purchase multiple certificates for any amount between $15 and $500. Once certificates are purchased, small businesses will get an immediate notification and can use free technology offered by Kabbage to scan, verify, track and fulfill gift certificates when redeemed.

"The impact of COVID-19 on small businesses requires the support of a nation," said Kabbage co-founder and CEO Rob Frohwein. "If there is a local small business that you love, they need your patronage now more than ever. Many businesses are closing and others are seeing reduced demand. The site is a means for the millions of small businesses that employ more than half of all employees in America to continue making sales and to feel your commitment to their long-term success."

"We encourage everyone to think beyond consumer goods and consider all service providers such as local handymen, lawn care providers, dry cleaners and laundromats; they all need our support," said Kabbage co-founder and President Kathryn Petralia. "Many weddings, birthdays and vacations are being postponed due to social distancing. Think about the small businesses you would have approached for those activities and purchase certificates to plan for future dates."

Kabbage will not profit from its efforts to support small businesses during this challenging period, and it is actively working with organizations in the payments ecosystem to eliminate or significantly reduce any associated transaction fees. Kabbage's goal is to provide small businesses with a unique solution to generate revenue during this extraordinary time. The site http://www.helpsmallbusiness.com will remain in operation until further notice.

About Kabbage
Kabbage, Inc., headquartered in Atlanta, is a data and technology company providing small businesses cash flow solutions. Its suite of products includes Kabbage Funding(TM), providing access to flexible lines of credit in minutes; Kabbage Payments(TM), helping small businesses get paid and access the money they earn faster; and Kabbage Insights(TM), calculating small business's real-time cash flow. To date, Kabbage has provided more than 225,000 U.S. small businesses access to over $9.5 billion of working capital. Kabbage is funded and backed by leading investors, including the SoftBank Vision Fund, BlueRun Ventures, Mohr Davidow Ventures and others. All Kabbage Funding U.S.-based loans, including custom loans, are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC, and are subject to credit approval. Kabbage Payments, LLC, a subsidiary of Kabbage, Inc., is a registered Payment Service Provider/Payment Facilitator sponsored by Fifth Third Bank, N.A., Cincinnati, OH. For more information, please visit http://www.kabbage.com.

*Transactions that are processed by 5 p.m. ET will be deposited in the merchant's bank account the following banking day. Any transactions that are processed after 5 p.m. ET will be deposited in the merchant's bank account within two banking days. Settlements may be delayed if transactions are flagged for review.

SOURCE Kabbage



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