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10-05-2022, 11:19 AM #1Senior Member
Reputation points: 6585
- Join Date
- Sep 2014
- Posts
- 263
Kabbage Files for Bankruptcy
https://l.smartnews.com/cPjFi/ttxnTb
This should be interesting!
Mike
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10-05-2022, 11:20 AM #2Senior Member
Reputation points: 72961
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,265
They were funding just about anyone...
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-05-2022, 11:46 AM #3Senior Member
Reputation points: 338677
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,481
It was NOT the funding company that filed. That business was bought by American Express. The entity that filed CH11 was the business not bought by American Express. The entity processed and monitored PPP loans and there are numerous lawsuits against THAT entity as well as investigations. There were a lot of fraudulent PPP loans processed by them and they rank one of the lowest for PPP forgiveness. Some of the fraud cases also involved brokers, accountants, and advisors that processes PPP loans through Kabbage. Some of those individuals are facing or have been charged.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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