You don't have to be an existing customer to receive a PPP loan of up to $2 million through Kabbage
Kabbage is open to all eligible businesses, which gives you a place to turn if your bank either isn't able to help or is making it difficult for you to apply.can tell you within minutes whether your business is eligible for a PPP loan and how much money you're approved for.
You can request the funds as soon as you're approved for a loan. A Kabbage representative told Business Insider that Kabbage will transfer the money to your bank account within five business days of your request.According to the CARES Act, small businesses can receive the lesser of $10 million or 2.5 times their average monthly payroll. However,Because you are limited to one PPP loan, you couldn't receive a loan through Kabbage, then apply to another bank for additional funds.
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