The “everyday entrepreneurs” of GoDaddy just got access to a new financing option. The web hosting innovator has teamed up with online lending and technology platform Kabbage to enable its business customers to apply for and receive a Kabbage line of credit of up to $250,000 in a matter of minutes if approved.

“Our customers tell us all the time that flexible funding is critical to grow and run their businesses; new opportunities make it important to be able to access capital, quickly whether for online marketing, inventory or purchasing new equipment,” Kabbage CRO Laura Goldberg explained. “They simply can’t afford to wait weeks or months for a loan approval.”

The flexible lines of credit also mean that business borrowers are not obligated to make withdrawals. There is no fee for applying for Kabbage funding, and borrowers pay nothing until they access the funds. “Our customer base of over 200,000 small businesses across the U.S. understands the value of accessing the exact amount of funding they need when they need it,” Goldberg said.

In a statement, Kabbage and GoDaddy highlighted the role that a lack of capital played in undermining small business digital marketing efforts, in particular. Citing a survey of 500+ entrepreneurs, the companies noted that small businesses typically pointed to a lack of money as the main reason for not growing their presence online.

“We know that a lack of capital for marketing and other core activities remains a major roadblock to accelerate growth,” GoDaddy VP of global market operations Melissa Schneider said. “Our partnership with Kabbage is key in our ongoing mission to empower our customers and provide them with the resources they need to fuel their business needs.”

GoDaddy has more than 18 million customers and 9,000+ employees around the world. Headquartered in Scottsdale, Arizona, the company had 2017 revenues of $2.2 billion and a net income that same year of more than $15 million. Founded in 1997, GoDaddy is publicly-traded on the New York Stock Exchange under the ticker GDDY. The company has a market capitalization of $11 billion.

Founded in 2009, Kabbage demonstrated its Kabbage Card – which links directly to the customer’s Kabbage line of credit – at FinovateSpring 2015. More recently, the company announced that it was getting into the payments business with the launch of a new SME payments solution, Kabbage Payments. Also this fall, the Atlanta, Georgia-based company acquired fellow Finovate alum Radius, adding insights into millions of small businesses to its platform.

Kabbage is also an alum of our developers conference, FinDEVr SiliconValley 2015. At the event, the company’s Chief Technical Officer demonstrated how developers can use the Kabbage platform to accelerate the lending process.

With the launch of Kabbage Payments, SME cash flow management solution provider Kabbage is ready to help small businesses get paid, as well as get funded.

“Since 2011, we’ve helped hundreds of thousands of small businesses access over $8 billion in funding,” Kabbage CEO Rob Frohwein said. “We know first-hand a primary need is to cover cash-flow gaps while waiting to be paid.”

Currently available to Kabbage customers and scheduled for public availability “soon,” the new payment solution from Kabbage will feature no-fee, unlimited, online invoicing; next-day deposits; low costs for card payments (cash and check payments free); and a dashboard that provides a view of all payments activity in a single location.

One standout feature of the new solution is a custom pay link that is especially geared toward SMEs that rely on invoice payments. Customers using Kabbage Payments will be able to create a unique URL for their business that enables them to send payment requests by text, email, or the web to collect card payments. With this secure, fast, and flexible option, there is no need to create new accounts manually or open new payment orders, and avoids having to do duplicate work for recurring invoices.

“Kabbage Payments not only expands our suite of products, but the very definition of our company. We deeply believe in the mission of small businesses and understand what they need to succeed – namely, more time building their businesses and less time worrying about cash flow,” Frohwein said.

Businesses interested in the solution can reach out to Kabbage Payments and request early access.

Kabbage demonstrated its Kabbage Card offering at FinovateSpring 2015. Part of the company’s “Kabbage Everywhere” product expansion, the Kabbage Card makes it more convenient for small business owners to use their Kabbage line of credit while on the go. More recently, the company has launched an interactive index analyzing U.S. SME revenue trends, acquired small business insights firm Radius Intelligence, and closed a new, four-year, $200 million revolving credit facility. This transaction followed Kabbage’s massive $700 million securitization – the largest ever by a small business online lending platform – announced this spring.

Earlier this month, Kabbage announced that its customers had accessed more than $715 million in funding via its platform in Q3, and that 42,000+ unique customers were added year-to-date, which tops 2018’s 37,000 total customer gain. At the same time, the company noted that the core of its funding activity comes from repeat customers, who represent more than 75% of all funding activity on the platform and more than $6 billion of the $8+ billion accessed to date.

“It’s essential to have a business model that’s built on scalable long-term growth, and repeat business is a critical metric,” Frohwein said. He praised the platform’s ability to “re-underwrite customers daily,” providing SMEs with a 24/7 source of funding. “Thanks to the speed at which our technology allows us to serve them, we’ve seen record highs,” Frohwein said, “serving nearly 1,900 small businesses who have accessed over $13 million in a single day.”

Founded in 2009, Kabbage is headquartered in Atlanta, Georgia.