Paycheck Protection Program (PPP) loans*
K Servicing is now accepting applications for Second Draw PPP loans for companies that took a PPP loan through Kabbage.Sign in
Eligible businesses must have fewer than 300 employees and have seen a 25% reduction in revenues since their first PPP loan.
If you are seeking either a first time PPP loan or you received a PPP loan from someone other than Kabbage in the past, click the link to apply below.Apply now
Here’s how it works:
- PPP loans are available for up to 2.5 times your average monthly payroll during the year preceding the application. (Businesses assigned to NAICS code 72 can receive loans of up to 3.5 times their average monthly payroll costs.)
- Kabbage can only process loans of up to $2 million.
- Second PPP loans are available for companies that have fewer than 300 employees and have seen a 25% reduction in revenues since their first PPP loan.
- All or part of your loan proceeds may be eligible for loan forgiveness.
What to know before you apply:
- You must use the full amount of your first PPP loan on or before the expected date your second PPP loan is disbursed.
- If you’re seeking a loan of $150,000 or more, you’ll need to provide documentation (e.g., tax forms, financial statements, bank statements) to prove revenue reduction of 25% or more.
- For loans less than $150,000, you’ll just need to provide this information to receive loan forgiveness.