According to a 2016 study, 68% of small businesses in the U.S., Canada, U.K. and Australia are currently using mobile or web-based apps to run their businesses. As a pioneer in technology that supports entrepreneurs, Kabbage prioritized launching a mobile app to establish a new, even more convenient lending experience for small business owners.
Nearly 26% of our web traffic in 2015 was from mobile devices, which demonstrated a huge opportunity to acquire new customers and better serve existing customers through an improved mobile experience. Additionally, no other lenders in our space offer a mobile app, which provided an opportunity to further set us apart within the industry.
Our goal was to design a fully mobile lending experience that would allow small business owners to apply and be approved for a line of credit; withdraw funds; make payments; and manage their accounts completely from their mobile devices.
In early 2016, our engineering teams established servers to lay the groundwork for both iOS and Android apps.
It was important that the look and feel for the apps was consistent with what users expect from a mobile experience – not just a "desktop" experience translated to mobile. Kabbage's new mobile app has been designed to provide our customers with the same innovative and seamless experience as the Kabbage desktop experience, with the added convenience of mobility for qualifying and receiving funds when on the go.
The app features all-new capabilities, including:
Now, small business owners can securely apply for funds by linking the accounts they use to run their businesses – such as checking accounts, PayPal and QuickBooks – to be approved for up to $100,000 in as little as minutes. Kabbage customers can use the app to manage their accounts and withdraw the amount of funding they need, enabling the kind of rapid, on-the-go access that makes sense for busy entrepreneurs.
With our latest mobile app release in the Spring of 2016, Kabbage has found a new way to reduce the friction usually required to access working capital.
"I was looking for a simple method to secure a credit line for my business and found it with Kabbage. The mobile application delivered an easy, fast and pleasant experience. I would recommend Kabbage to any business owner looking for a modern method to establish a secure line of credit."
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