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AmEx in Advanced Talks to Buy SoftBank-Backed Kabbage

  • Transaction could see AmEx paying as much as $850 million
  • Deal would make AmEx a bigger player in small-business loans
Inside AmEx's New Centurion Lounge At LAX
Photographer: Patrick T. Fallon/Bloomberg
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American Express Co.’s small-business aspirations just took another step forward.

The credit-card giant is in advanced talks to buy Kabbage Inc., a person familiar with the matter said, a deal that would make AmEx a bigger lender to mom and pop shops. The company is already the largest U.S. provider of credit cards to those types of operations.