This enables people to purchase an online gift certificate, for any amount between USD 15 and USD 500, from participating small businesses to provide them with vital financial support. All revenue from the purchased gift certificates will be deposited via Kabbage Payments to help small businesses to withstand cash-flow gaps caused by COVID-19.
In effect, consumers will be providing an interest-free loan to these SMEs with payback in product or service.
Since inception, Kabbage has provided approximately 225.000 US small businesses access to USD 9.5 billion of working capital.
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