Finance

AmEx acquisition of online lender Kabbage hurt PPP borrowers

0


Close-up of logo for finance company Kabbage on paper on a light wooden surface, June 13, 2019.

Smith Collection/Gado | Archive Photos | Getty Images

When the pandemic shut down Dawn Lindsay’s family carpet cleaning business last year, the U.S. government’s paycheck protection program provided a brief but essential lifeline. To get her $7,500 PPP loan, Lindsay turned to online lender Kabbage, a service recommended by her accountant.

Lindsay, who runs the company with her husband, Todd, said the process was smooth and easy. But the second round of PPP funding, which the Small Business Administration opened up in January amid the ongoing economic crisis, has been a nightmare. That’s because…



Source cnbc.com

0 0 votes
Article Rating

Rick Caruso’s company to begin accepting rent payments in bitcoin

Previous article

Jamie Dimon slams state and local tax repeal as a benefit to the rich

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Finance