In these troubling and uncertain times, we want to assist our members and their businesses in whatever way we can, which is why we’ve partnered with Newtek Small Business Finance, Kabbage and ACAP + Loan Source to facilitate applications for Paycheck Protection Program (PPP) loans.
The Small Business Administration approved the Consolidated Appropriations Act, which will provide another $284B in funding to small businesses. To apply, please visit one of our partners' websites below:
Newtek Small Business Finance
Newtek Business Services Corp. is a leading provider of key business and financial solutions. Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.
In connection with American Express’s acquisition of Kabbage, a new K Servicing site was established to handle repayments toward Kabbage Funding, as well as repayments and loan forgiveness associated with the Paycheck Protection Program. K Servicing will be offering small businesses access to PPP loans for both new and repeat borrowers.
Eligible small businesses can apply for a new PPP loan through K Servicing. This includes businesses that received a previous PPP loan through Kabbage, took a PPP loan through another provider or never took a PPP loan.
ACAP + Loan Source
ACAP was created to better service PPP loans. Through this effort, they are utilizing what they’ve learned to advance positive change within the program. An SBA-approved non-bank servicing partner, their mission is to provide complete PPP loan servicing solutions while improving PPP equity. In partnership with The Loan Source, dedicated to PPP origination, their team is committed to helping banks and borrowers, while reducing risks, accelerating loan income, and improving access. They are ‘people helping people,’ delivering value to American banks and small business borrowers.
We thank you for your continued loyalty and membership. Please stay healthy and safe.
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