Kabbage

Kabbage co-founder Kathryn Petralia, whose company is being sold to American Express, discusses government and financial-sector lifelines she says could help businesses that have been hit hardest by the pandemic.

When customers contact Wells Fargo, its artificial intelligence system goes to work; what American Express is getting with it purchase of Kabbage; Fannie, Freddie refi fee will wipe out millions in mortgage profits; and more from this week's most-read stories.

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

American Express Co. is acquiring the teams and technology behind the online lender Kabbage Inc. as the credit-card giant seeks to provide more loans and other services to small-business owners.

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks.

The online lender has already branched out into facilitating payments and analyzing cash flow for small-business customers. Its new checking account is meant to round out those services.

The online lender quickly built an app for ride-share drivers with much of their information already filled in.

The new product, which comes as an earlier partnership with the online lender Kabbage is sputtering, figures to appeal to companies with tight cash flows.

The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.