Kabbage launches Kabbage Checking

With an annual percentage yield (APY) of 1.10% on balances up to USD 100,000, Kabbage Checking aims to help SMBs grow, with no monthly maintenance fees, no set-up fees and on-the-go features, all backed by American Express.

American Express has also begun offering Kabbage Funding to existing customers with plans to make it more broadly available later in 2021. Kabbage Funding offers small businesses the opportunity to apply for flexible lines of credit between USD 1,000 and USD 150,000. Together, these products are a part of an integrated platform from Kabbage, combining data-driven products, including payment processing and business insights, to help US small businesses manage their cash flow.

Kabbage Checking and Kabbage’s integrated solutions are part of American Express’s expansion beyond its Card business to deepen its relationships with US small businesses.