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Kabbage launches streamlined PPP application for Uber’s network of drivers

By Pavithra R

June 18, 2020

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Kabbage
Rob Frohwein, Kabbage co-founder and CEO

Kabbage, a data and technology company providing small business cash-flow solutions has announced that the company has expanded its Paycheck Protection Program (PPP) with a customised application for drivers and delivery people who use Uber in the U.S.

Kabbage has broadened its ability to serve America’s SMBs by providing Uber’s network of self-employed drivers a  way to apply for federal-relief funding. The bespoke PPP application clarifies how to apply, eligibility, and will automatically prepopulate information relevant for independent contractors using Uber. Through this, the company expects to provide an efficient process for applicants to access PPP loans.

According to Kabbage, over 90 percent of all approved independent contractors that applied through its portal had an automated experience, and many applicants received SBA approval the same day they apply.

“With more than $100 billion left in the PPP, there is a meaningful opportunity for the self-employed to still apply and receive funding. With Uber, we aim to provide hundreds of thousands of more independent contractors access to federal funding,” said Kabbage CEO Rob Frohwein.

Kabbage, as an SBA approved credit provider for the PPP, the company is focused on Main Street businesses for which the program was designed to serve.

“Getting access to PPP funding has been difficult during this crisis for many, including people who drive and deliver using Uber and are looking for extra support. We’re excited that Kabbage stepped up to design a process to streamline and enhance the application process,” said Cammie Jenson, U.S. Driver Experience for Uber.

Founded in 2009, Atlanta based Kabbage Empowers Small Business owners to generate critical CashFlow. The company recently formed a partnership with MountainSeed to help SMBs in PPP Funding. According to company data, with over 130,000 SBA-approved PPP loans for more than $3.8 B, Kabbage’s average loan size is $29,000, compared to the SBA’s total average of $113,000.

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