Outright Helps Online Sellers Get Working Capital to Grow Their Business Detailed sales and expense tracking data allows Kabbage to Pre-Qualify Small Businesses For Working Capital.
MOUNTAIN VIEW, Calif., March 8, 2012 /PRNewswire/ -- Many small businesses struggle to find capital to expand their businesses in this tough economy. Outright, the leader in bookkeeping and tax software for online sellers, has partnered with Kabbage, the leader in providing financing to online businesses, to provide Outright's customers with the working capital needed to grow their businesses.
"In today's climate, banks and credit card companies are stricter than ever with lending requirements. This puts a hardship on small business owners, making it difficult for them to expand and grow their business," said Steven Aldrich, CEO of Outright. "We have recognized this challenge and sought a partnership that would address our customers' desire to grow and succeed. We're excited that Kabbage has developed a tailored solution for our customers."
Kabbage uses Outright's transactional data on an anonymous basis to help qualify and approve small businesses for cash to grow. Upon pre-qualification, the businesses go through an automated and painless application process to receive working capital, typically accessing their cash in less than 10 minutes.
"What's a toolbox without the right tools?" said Danni Ackerman of http://www.TheDanniApp.com. "Running my eBay business without Kabbage and Outright would be like building a house without hammer and nails! With this new integration between the two companies that allows me to pre-qualify for funding, it is going to make things so much easier for my business."
"We're thrilled to partner with Outright, a company that has consistently focused on providing the critical financial tools that online businesses need to understand their business," said Rob Frohwein, CEO of Kabbage. "Our partnership with Outright will provide streamlined access to working capital for tens of thousands of small business customers, which is exactly what our economy needs to prosper once again."About Outright
Outright has one goal: to make accounting as simple as possible so the self-employed can spend as little time as possible on the least enjoyable part of running a business. Outright's easy-to-use online accounting solution automatically brings all sales & expenses together in one place so the user always know what's going on with their business. No math, no manual entry, no paperwork. Outright integrates Etsy, eBay & PayPal information, e-commerce accounts, and bank and credit card accounts so users can stay up-to-date effortlessly -- and instead focus on doing what they love to do. To learn more or sign up, please visit http://outright.com
Kabbage, Inc., headquartered in Atlanta, Georgia, is pioneering the first financial services data, technology and marketing platform for the millions of small and medium businesses that make a living selling online. Kabbage leverages data generated through merchant activity across various marketplaces and channels to understand business performance and craft financing options that meet their needs. Kabbage is venture funded and backed by Mohr Davidow Ventures and BlueRun Ventures, with additional investors including: David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens Inc., the UPS Strategic Enterprise Fund, and TriplePoint Ventures. For more information, please visit www.kabbage.com.