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Kabbage To License Its Lending Platform

Kabbage To License Its Lending Platform

It is no secret or surprise at this point that small business lending has been broken since the Great Recession in a way that seems stubbornly resistant to improvement – if you’re a small business looking for capital. Depending on what measure one uses, between half and three-quarters of SMBs either can’t get access to loans at all, or they can, but not at amounts that are sufficient to meet their capital needs.

“Banks are kind of stuck in the 1910’s technology and small businesses are super frustrated by how long it takes to get a bank approval, and also how cumbersome it is,” Kabbage’s Chief Marketing Officer Victoria Treyger told PYMNTs in a recent discussion.