Money is tricky for small businesses–which is to say that it tends to be tight. Pretty much everything about money–securing it, managing it, spending it–requires some kind of special tool, and that tool had better be effective, easy to use, and cheap, or else the company is going to find itself in trouble fast.
That’s where Kabbage is attempting to come in. Kabbage is an automated online lending platform for small businesses, and was named one of Fast Company‘s Most Innovative Companies in 2013 for its inventive use of real-time business data to secure short-term loans for its members, bypassing the slow and clunky process of going through banks or other traditional lenders.
Today, Kabbage is launching the Kabbage card, a debit card tied directly to funds in a business’s Kabbage account, designed to make accessing those short-term loans even easier.
By launching a debit card, Kabbage is removing an additional source of friction from the process of managing and spending money for small businesses. Need to buy a new laser printer? Out to lunch with clients? The Kabbage card works like any other plastic, only it’s drawing from an account that’s replenished with funds from lenders rather than a static pool of money. It might seem like a minute detail, but when you’re running a small business, even the tiniest efficiencies can add up.JPT