Kabbage Funding™ from American Express Helps Small Businesses Get What’s Needed, When It’s Needed

American Express continues its commitment to providing small businesses with powerful backing that can help them thrive. Kabbage Funding from American Express provides eligible small business customers the ability to apply for a line of credit from $2,000 to $250,000 in minutes with flexible access to use what is needed, when it is needed^*.

In recognition of this National Small Business Week, Chandra Franklin Womack, P.E., Owner and CEO of Aran+Franklin Engineering Inc., a Texas-based windstorm and structural engineering firm, shares her story highlighting how Kabbage Funding helped her take her small business to new and unexpected heights.

Here, Womack shares her experience with Kabbage Funding as a small business:

“Aran+Franklin Engineering Inc. has a mission to support communities and people living in high wind zones. We help by specializing in the design and engineering of buildings to withstand destructive wind and weather, such as hurricanes, tornadoes, and the like. One of the biggest challenges my business faces is that it is project-based, which means the workflow is unpredictable and there have been devastating times where I’ve had to let valuable employees go or pull from my own funds. 

When I heard about Kabbage Funding from American Express, I decided to apply for a line of credit in order to ensure I would have access to funds for these financially difficult times and within the same day of submitting the application, I was approved.

Well – I am so glad that I applied for that line of credit, because the unexpected happened as my business was presented with an opportunity to expand operations in Florida. With the funds drawn from our line of credit, we were able to acquire a smaller engineering firm in Florida, which we would have been unable to do without the help from the Kabbage Funding. From this acquisition, we have taken on 189 new projects to-date from the firm’s client base.

 American Express continues to drive forward a commitment to helping small businesses like Womack’s. Over the years, the company has introduced new tools and resources – from relevant benefits and offers for Card Members, to access to Business Class insights and small business grant programs for any small business owner. Beginning in 2010, American Express first introduced Small Business Saturday^®  amidst the recession and in 2020, American Express rolled out its largest ever global Shop Small^® campaign with a $200 Million commitment to help jumpstart spending at small businesses hurt by the pandemic^**.

Chandra Franklin Womack is a real Kabbage customer who was aware that her testimonial may be featured by American Express.

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^*Kabbage Funding™ offers access to a commercial line of credit ranging from $2,000 to  $250,000; however, you may be eligible for a larger line of credit based on our evaluation of your business. Each draw on the line of credit will result in a separate installment loan. All loans are subject to credit approval and are secured by business assets. Every loan requires a personal guarantee. Total monthly fees incurred over the loan term range from 2-9% for 6-month loans, 4.5-18% for 12-month loans, 6.75-27% for 18-month loans, and are subject to change for future loans drawn under the available line of credit.  Loans incur a loan fee for each month you have an outstanding balance.  Not all customers will be eligible for the lowest fee. Not all loan term lengths are available to all customers. Eligibility is based on creditworthiness and other factors. Not all industries are eligible for Kabbage Funding. Pricing and line of credit decisions are based on the overall financial profile of you and your business, including history with American Express and other financial institutions, credit history, and other factors. Lines of credit are subject to periodic review and may change or be suspended, accompanied with or without an account closure. Late fees may be assessed. Loans are issued by American Express National Bank.

^**Our commitment of more than $200M supported a Card Member offer and the associated marketing campaign to encourage American Express® Card Members in select countries around the globe to Shop Small in their local communities and online.