Kabbage PPP Loans
Emailed on June 19th 2020 in The Friday Forward
"There aren't many banks that want to manually underwrite $14,000 PPP loans... It's just not worth their time."
So if you're a contract employee, like a gig worker, you're going to want to check out Kabbage.
"Around 40% of the 140,000 approved PPP loans through Kabbage have been for independent contractors, and their median loan amount is just $13,500," says Kathryn Petralia, co-founder and president of digital lending platform Kabbage.
This week Kabbage launched a dedicated PPP application portal for independent contractors. Included is a channel for Uber drivers, in partnership with the company, whereby Uber-specific documentation will be automatically uploaded.
Similar arrangements could be coming soon with other gig economy companies.
Deadline: The PPP loan application process remains open until June 30.