Kabbage Voluntarily Files for Chapter 11 Bankruptcy

Kabbage (KServicing), a servicer and subservicer of small business Paycheck Protection Program loans (PPP Loans), voluntarily filed for relief and protections under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

October 4, 2022 AlixPartners | Kabbage | KServicing | Laquisha Milner | Richards Layton & Finger | Weil Gotshal & Manges Ian Koplin

Kabbage Launches New Program to Provide Lines of Credit to Small Businesses

Kabbage launched a new program called Kabbage Funding that will offer eligible small businesses flexible lines of credit between $1,000 and $150,000 with the backing of American Express.

December 9, 2021 American Express | Kabbage | Kabbage Funding | Rob Frohwein Phil Neuffer

The Seesaw Journey of Alternative Lenders During the COVID-19 Pandemic

Since the start of the COVID-19 pandemic, struggling SMEs and SMBs have found it more difficult to find the capital they need to survive. At the same time, alternative lenders like fintechs have had to adapt their plans in order to continue being a reliable source of financing. Such creativity will still be needed in 2021 as more opportunities arise.

January 27, 2021 BlueVine | Credibly | fintech | FischerJordan | Fundation | Fundbox | Funding Circle | Kabbage | LendingClub | OnDeck Phil Neuffer

American Express to Acquire Kabbage

American Express entered into an agreement to acquire substantially all of Kabbage, a financial technology company providing cash flow management solutions to small businesses in the U.S.

August 20, 2020 American Express | Anna Marrs | Kabbage | Rob Frohwein Rita Garwood

Kabbage Customers Access Over $715M in Record Q3

Kabbage reports small businesses in the U.S. accessed more than $715 million of capital in the third quarter through Kabbage.

October 24, 2019 Kabbage | Rob Frohwein Amanda Koprowski

Reuters: Recession Fears Have Online Lenders Scaling Back

Reuters reported that U.S. online lenders such as LendingClub, Kabbage and Avant are scrutinizing loan quality as they prepare for an economic downturn.

April 17, 2019 Avant | Kabbage | LendingClub nadine

Kabbage Names Rosenberg CFO

Online lender Kabbage bolstered its financial leadership team with the appointment of Scott Rosenberg as its chief financial officer. The company also added Laurie Simon Hodrick as an independent director on its board.

July 17, 2018 Kabbage | Laurie Simon Hodrick | Rob Frohwein | Scott Rosenberg ABF Journal

After Hours Banking Loans Top $1B for Kabbage

As small business owners increasingly shun regular bankers’ hours, Kabbage reported 145,000-plus customers accessed more than 300,000 after-hours loans for a total of more than $1 billion in funding.

July 5, 2018 Kabbage | Rob Frohwein ABF Journal

Kabbage Closes $4B Small Biz Loans, Names Sharpe COO

Fintech lender Kabbage has extended more than $4 billion to more than 130,000 small businesses since April 2017. Robert Sharpe has joined the company as COO.

December 7, 2017 Kabbage | Kathryn Petralia | Rob Frohwein | Robert Sharpe ABF Journal

Credit Suisse Provides New $200MM Asset-Backed Revolver to Kabbage

Kabbage closed a new $200 million asset-backed revolving credit facility with Credit Suisse. The revolver is supported entirely by fully-automated underwritten assets from Kabbage.

November 17, 2017 Credit Suisse | Kabbage ABF Journal