Payments On Fire

In this Payments on Fire® podcast, we examine the role of a payment service offered through a commerce solution targeted at the small and medium business (SMB) market. To do that, we talk with Nan Siler, Head of Payments Strategy and Operations, at Kabbage. The small and medium business market is important to both the national and local economies. It’s big. According to the U.S. Small Business Administration, over 40% of GDP is generated by this segment. Over the last decade and more, SMBs have come to face new competition (Amazon and the high concentration of Big Retail) and a less willing lender community of traditional financial institutions. Kabbage has stepped into that environment. Kabbage has loaned over $9B since its inception to some 220,000 customers and last fall added a new service, Kabbage Payments, to ease payment and invoicing for its SMB customers. SMBs live and die on cash flow. If a big customer’s payment doesn’t come in on time, the business owner can end up paying her employees but not her