Kabbage, an online lender for small businesses, has secured a $200m asset-backed revolving credit facility from Credit Suisse.

The online lender intends to use the credit facility to expand its reach to more large and small businesses.

Earlier this year, Kabbage secured $250m in funding from a subsidiary of SoftBank Group. The latest funding takes Kabbage’s total debt-funding capacity to $750m.

Kabbage head of capital markets Deepesh Jain said: “The new, DBRS-rated facility, provided by Credit Suisse, speaks to Kabbage’s maturity in the financial markets and gives us diverse funding options to serve our small business customers.

“To earn an investment-grade rating requires a rigorous evaluation of not only our lending models, automated risk analysis, and successful history of reducing bad debt to an industry-low, but also our operational processes-from exceptional customer service to unmatched technology development.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.