Leading fintech small business lender Kabbage has been a major force in getting PPP loans into the hands of small businesses, particularly those with less than 20 employees; while Kabbage was not authorized to participate initially they worked with bank partners to ensure their customers were taken care of; by the time round two of the PPP arrived Kabbage was able to gain approval to lend directly; they were also able to qualify for the Fed’s lending facility which enable them to ramp up lending dramatically then; Kabbage now has SBA approval for 129,000 loans totaling nearly $4 billion making them one of the largest PPP lenders in the country; the company will also be working with their borrowers on the forgiveness part of the program. Forbes
