ATLANTA, June 16, 2015 (GLOBE NEWSWIRE) -- UPS Capital®, a subsidiary of UPS®(NYSE:UPS) that provides supply chain financial, insurance and payment services, announced today a partnership with Kabbage®, a leading technology and data platform that powers automated small business lending. UPS Capital can now offer its small business customers seamless, real-time access to capital via Kabbage, to deliver the borrowing power they need to grow their businesses. The Kabbage technology platform continuously monitors the health and seasonality patterns of its customers to automatically deliver the right level of funding to each customer at the right time.
"Small businesses are essential to America's economy, as they are responsible for two out of every three new jobs in the United States," said Ronald Chang, president of UPS Capital. "Since the recession, small businesses have had a difficult time accessing the capital they need to manage cash flow, hire new employees or purchase new inventory and equipment. By partnering with Kabbage, UPS Capital can now help more small businesses grow and achieve their potential."
"UPS has been an important investor and partner for Kabbage since we launched four years ago," said Rob Frohwein, Kabbage co-founder and CEO. "We are thrilled to expand this relationship today to be able to seamlessly deliver capital to millions of UPS small business customers."
To learn more about the partnership between UPS Capital and Kabbage, call a UPS Capital representative at 877-263-8772 or email us at upscinsidesales@ups.com.
About UPS Capital
Nobody understands transportation and logistics like UPS®. And while you've probably never thought of a UPS company for financing and insurance services, the global supply chain expertise of UPS Capital® uniquely positions us to help protect companies from risk and leverage cash in their supply chains. Insurance companies and banks can't say that. UPS Capital has offices throughout the United States, as well as operations in Asia, Europe and Latin America. For more information, visit www.upscapital.com, call 1-877-242-7930, or follow UPS Capital on Linkedin (https://www.linkedin.com/company/ups-capital) and Twitter (@UPSCapital).
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at ups.com® and its corporate blog can be found at Longitudes.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
About Kabbage
Kabbage Inc., headquartered in Atlanta, has pioneered the first financial services data and technology platform to provide fully automated funding to small business in minutes. Kabbage leverages data generated through business activity such as accounting data, online sales, shipping and dozens of other sources to understand performance and deliver fast, flexible funding in real time. Through its Karrot brand, Kabbage offers simple consumer loans through its automated platform. Kabbage is venture-funded and backed by SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, TCW/Craton and additional investors, including Ron Conway's SV Angel, David Bonderman, founder of TPG Capital and Warren Stephens, CEO of Stephens Inc. All Kabbage and Karrot U.S.- based loans are made by Celtic Bank, a Utah-Chartered Industrial Bank, member FDIC. For more information, please visit http://www.kabbage.com and follow the company on Facebook and Twitter.
© 2015 United Parcel Service of America, Inc. UPS, the UPS brand mark and the color brown are trademarks of United Parcel Service of America, Inc. All rights reserved.
Insurance is underwritten by an authorized insurance company and issued through licensed insurance producers affiliated with UPS Capital Insurance Agency, Inc. or licensed international UPS Capital insurance brokerages. Customized declared value and UPS Proactive Response Secure are products of United Parcel Service, Inc. and are administered by UPS Capital. Loans are made in California pursuant to a Department of Corporations California Finance Lenders License. C.O.D. Enhancement Services are offered through UPS Capital Trade Protection Services, Inc. All services in connection with the UPS Capital Merchant Services Program are provided by WorldPay US, Inc., a Registered ISO/MSP of CitizensBank, N. A., Providence, RI. All services in connection with the UPS Capital Credit Card Fraud Protection program are provided by CardinalCommerce.com, Inc. and all fees charged for services are determined by CardinalCommerce.