/PRNewswire/ Kabbage, Inc. d/b/a KServicing ("KServicing" or the "Company"), a prominent servicer and subservicer of small business Paycheck Protection.
The Paycheck Protection Program was one of the signature federal economic relief measures in the early days of the covid-19 pandemic, providing small businesses loans of up to $10 million that were forgivable if used for payroll and other approved expenses.
Online Lender Under Investigation for PPP Lending Practices cpapracticeadvisor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cpapracticeadvisor.com Daily Mail and Mail on Sunday newspapers.
An online lending platform called Kabbage sent 378 pandemic loans worth $7 million to fake companies (mostly farms) with names like “Deely Nuts” and “Beefy King.”