Small business lender Kabbage received $200 million in revolving credit from Swiss financial institution, Credit Suisse.
The funds will used by the Atlanta-based Kabbage to scale and expand its lines of credit with longer terms to its existing customer base, as well as some of the larger small businesses.
Kabbage now has a total debt funding of $750 million.
In a statement to Finextra yesterday afternoon Kabbage Head of Capital Markets, Deepesh Jain, said:
The new, DBRS-rated facility, provided by Credit Suisse, speaks to Kabbage’s maturity in the financial markets and gives us diverse funding options to serve our small business customers.
Read more at Fixetra and TechCrunch.