1,071,094.43 Customer Payments owed to SBA included in settlement payment amount
- Date
- 2023-01-05
Summary
Doc 409-1, filed January 5, 2023 in Case 22-10951-CTG, contains two exhibits concerning Kabbage, Inc. and Kservicing. Exhibit A is a CUBI Remittance Wire Summary dated 12/14/2022 that lists 1,071,094.43 in customer payments owed to the SBA included in a settlement payment amount, amounts remitted to the SBA in October and November 2022, and a total wire to CUBI for December 2022 of 1,026,516.58. Exhibit B is a bank statement for a Kabbage, Inc. PPP Payments CUBI US Government Checking account for the period ending November 30, 2022. The statement shows a beginning balance of 2,025,359.23, an ending balance of $1,600,958.87, and itemized PPP repayment credits, loan payment debits and a wire to Customers Bank.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 1 of 10
EXHIBIT A
Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 2 of 10
CUBI Remittance Wire Summary 12/14/2022
1,071,094.43 Customer Payments owed to SBA included in settlement payment amount
925,242.87 Remitted to the SBA in October 2022 and withheld from CUBI October remittances; Kservicing owes back to CUBI
145,851.56 Portion of $411,328.50 Remitted to the SBA in November 2022 and NOT withheld from CUBI November remittances
1,071,094.43 Total
(366,750.65) CUBI Gross Remittances for November 2022
265,476.94 Portion of $411,328.50 Remitted to the SBA in November 2022 and withheld from CUBI November remittance wire
(101,273.71) Net owed in cash to CUBI for November 2022
(925,242.87) From Above ‐ Remitted to the SBA in October 2022 and withheld from CUBI October remittances; Kservicing owes back to CUBI
(1,026,516.58) Total Wire to CUBI December 2022
Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 3 of 10
EXHIBIT B
Tray1 Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 4 of 10
P.O. Box 2646-R, Columbus, GA 31902
Statement of Account
Last statement: October 31, 2022
This statement: November 30, 2022
Total days in statement period: 30
XXX-XXX-525-0 031 165
Page 1 of 6
Direct inquiries to:
888-796-6887
KABBAGE, INC
PPP PAYMENTS CUBI
925B PEACHTREE ST NE SUITE 383
ATLANTA GA 30309-0000
Summary of Account Balance
Account Number Ending Balance
US Government Checking XXX-XXX-525-0 $1,600,958.87
US Government Checking Account Number 101-556-525-0
Beginning balance 2,025,359.23
Deposits/Credits 543,313.43 Low balance 1,589,032.46
Withdrawals/Debits 967,713.79 Average balance 1,873,816.27
Ending balance 1,600,958.87 Average collected balance 1,873,816.00
Other Debits
Date Transaction Type Description Amount
11-01 Preauthorized Wd PPP REPAYMENTS PPPPAYMENT 9,697.36
221101
11-02 ACH Ret Debits (Ac) RETURN SETTLE A ACH RETURN 214.84
RETURN ITEM SETTLE
11-03 Preauthorized Wd PPP REPAYMENTS PPPPAYMENT 114,371.83
221103
11-03 ACH Ret Debits (Ac) RETURN SETTLE A ACH RETURN 500.00
RETURN ITEM SETTLE
11-04 Preauthorized Wd PPP REPAYMENTS PPPPAYMENT 4,737.78
221104
11-04 Preauthorized Wd PPP REPAYMENTS PPPPAYMENT 43,789.47
221104
11-04 ACH Ret Debits (Ac) RETURN SETTLE A ACH RETURN 270.74
RETURN ITEM SETTLE
11-08 Preauthorized Wd 172 LOAN PAYMT PAYMENT 500.00
221108 0000
11-08 Preauthorized Wd 172 LOAN PAYMT PAYMENT 500.00
221108 0000
11-10 ACH Ret Debits (Ac) RETURN SETTLE A ACH RETURN 182.61
RETURN ITEM SETTLE
11-17 ACH Ret Debits (Ac) RETURN SETTLE A ACH RETURN 507.89
RETURN ITEM SETTLE
11-18 Dom Wire Out Online Customers BankCUST ERS BANK 376,326.59
Customers Bank
11-18 Preauthorized Wd 172 LOAN PAYMT PAYMENT 16,000.00
221118 0000
Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 5 of 10 Page 2 of 6
P.O. Box 2646-R, Columbus, GA 31902
November 30, 2022
XXX-XXX-525-0
KABBAGE, INC
Other Debits
Date Transaction Type Description Amount
11-18 Preauthorized Wd 172 LOAN PAYMT PAYMENT 23,416.60
221118 0000
11-18 Preauthorized Wd 172 LOAN PAYMT PAYMENT 53,533.81
221118 0000
11-18 Preauthorized Wd 172 LOAN PAYMT PAYMENT 55,416.72
221118 0000
11-18 Preauthorized Wd 172 LOAN PAYMT PAYMENT 130,585.56
221118 0000
11-23 Preauthorized Wd 172 LOAN PAYMT PAYMENT 500.00
221123 0000
11-23 Preauthorized Wd PPP REPAYMENTS PPPPAYMENT 10,644.71
221123
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 813.12
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 998.42
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 1,000.00
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 1,482.28
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 2,002.41
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 4,495.59
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 5,304.78
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 5,913.27
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 9,165.18
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 10,000.00
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 11,396.34
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 997.59
221125 0000
11-25 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,007.14
221125 0000
11-28 ACH Ret Debits (Ac) RETURN SETTLE A ACH RETURN 54.64
RETURN ITEM SETTLE
11-29 Transfer REF 3331443L FUNDS TRANSFER TO 4,006.22
DEP 1015565276 FROM ONLINE
SBA 9031807710 GP
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 2,500.00
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,518.00
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,610.14
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,674.46
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,750.52
221130 0000
Tray1 Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 6 of 10 Page 3 of 6
P.O. Box 2646-R, Columbus, GA 31902
November 30, 2022
XXX-XXX-525-0
KABBAGE, INC
Other Debits
Date Transaction Type Description Amount
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,816.27
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,837.44
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 4,000.00
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 429.25
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 791.86
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 799.86
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 853.56
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,352.31
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,394.05
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,413.69
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,428.99
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,429.36
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,449.72
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,505.24
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,183.90
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,270.68
221130 0000
11-30 Preauthorized Wd 172 LOAN PAYMT PAYMENT 3,353.00
221130 0000
11-30 Service Charge 18.00
Deposits/Other Credits
Date Transaction Type Description Amount
11-01 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 11,880.90
221101
11-01 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 8,603.21
221101
11-02 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 1,000.00
221102
11-02 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 15,223.46
221102
11-03 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 2,082.68
221103
11-03 Transfer REF 3071254L FUNDS TRANSFER FRM 792.11
DEP 1015565227 FROM ONLINE
WIRE PMT SBA 21881
11-03 Transfer REF 3071328L FUNDS TRANSFER FRM 26.00
DEP 1015565201 FROM ONLINE
10252022 CUBI CHEC
Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 7 of 10 Page 4 of 6
P.O. Box 2646-R, Columbus, GA 31902
November 30, 2022
XXX-XXX-525-0
KABBAGE, INC
Deposits/Other Credits
Date Transaction Type Description Amount
11-03 Transfer REF 3071333L FUNDS TRANSFER FRM 4,056.12
DEP 1015565201 FROM ONLINE
11012022 CUBI CHEC
11-03 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 22,554.76
221103
11-04 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 1,259.89
221104
11-04 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 26,849.86
221104
11-07 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 3,198.76
221107
11-07 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 53,949.54
221107
11-07 ACH Ret Credits (Ac) RETURN SETTLE A ACH RETURN 2,034.76
RETURN ITEM SETTLE
11-08 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 447.06
221108
11-08 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 67,757.19
221108
11-09 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 1,771.52
221109
11-09 Transfer REF 3131419L FUNDS TRANSFER FRM 989.29
DEP 1015565201 FROM ONLINE
11082022 CUBI CHEC
11-09 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 20,647.83
221109
11-10 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 1,850.00
221110
11-10 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 15,980.53
221110
11-14 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 3,587.45
221114
11-14 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 2,245.00
221114
11-14 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 7,607.05
221114
11-14 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 19,420.56
221114
11-15 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 4,086.02
221115
11-15 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 39,940.21
221115
11-16 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 530.00
221116
11-16 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 14,014.83
221116
11-17 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 50.00
221117
11-17 Transfer REF 3211444L FUNDS TRANSFER FRM 1,432.08
DEP 1015565276 FROM ONLINE
11152022 CUBI CHEC
11-17 Transfer REF 3211505L FUNDS TRANSFER FRM 186.00
DEP 1015565276 FROM ONLINE
SBA 9904098304 PAY
Tray1 Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 8 of 10 Page 5 of 6
P.O. Box 2646-R, Columbus, GA 31902
November 30, 2022
XXX-XXX-525-0
KABBAGE, INC
Deposits/Other Credits
Date Transaction Type Description Amount
11-17 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 20,319.54
221117
11-18 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 19,007.40
221118
11-18 Transfer REF 3221529L FUNDS TRANSFER FRM 5,762.34
DEP 1015565201 FROM ONLINE
11172022 CUBI CHEC
11-21 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 181.03
221121
11-21 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 14,807.21
221121
11-22 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 1,802.96
221122
11-22 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 6,203.91
221122
11-23 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 1,531.34
221123
11-23 Transfer REF 3271357L FUNDS TRANSFER FRM 326.00
DEP 1015565201 FROM ONLINE
11222022 CUBI CHEC
11-23 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 17,042.66
221123
11-25 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 914.16
221125
11-25 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 268.57
221125
11-25 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 12,656.58
221125
11-25 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 5,067.49
221125
11-28 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 320.20
221128
11-28 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 45,012.01
221128
11-29 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 2,305.10
221129
11-29 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 18,763.68
221129
11-30 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 1,930.54
221130
11-30 Transfer REF 3341045L FUNDS TRANSFER FRM 685.67
DEP 1015565201 FROM ONLINE
11292022 CUBI CHEC
11-30 Preauthorized Credit PPP REPAYMENTS PPPPAYMENT 12,350.37
221130
Balance Summary
Date Amount Date Amount Date Amount
10-31 2,025,359.23 11-07 2,005,289.26 11-15 2,190,436.36
11-01 2,036,145.98 11-08 2,072,493.51 11-16 2,204,981.19
11-02 2,052,154.60 11-09 2,095,902.15 11-17 2,226,460.92
11-03 1,966,794.44 11-10 2,113,550.07 11-18 1,595,951.38
11-04 1,946,106.20 11-14 2,146,410.13 11-21 1,610,939.62
Case 22-10951-CTG Doc 409-1 Filed 01/05/23 Page 9 of 10 Page 6 of 6
P.O. Box 2646-R, Columbus, GA 31902
November 30, 2022
XXX-XXX-525-0
KABBAGE, INC
(continued)
Balance Summary
Date Amount Date Amount Date Amount
11-22 1,618,946.49 11-25 1,589,032.46 11-29 1,651,372.59
11-23 1,626,701.78 11-28 1,634,310.03 11-30 1,600,958.87
Case 22-10951-CTG Doc 409-1 Filed 01/05/23
BALANCING Page 10 of 10
YOUR CHECKBOOK
Checks and Debits Outstanding
ƒ
Check No. Amount Follow these easy steps to reconcile your checkbook to the "Ending
Balance" shown on the front of this statement:
(1) Make sure that all the transactions listed on this statement have also been
entered in your checkbook register, including all deposits, credits, checks,
check card transactions, ATM transactions and other debits. Make sure the
amounts are the same in both places.
„ (2) Mark the checks and other debits in your checkbook that have been paid
by the bank; mark the credits in your checkbook that have cleared the
bank.
(3) Enter all the items that have not yet been paid by the bank and are still
outstanding. These are items that are not shown on this statement and have
not appeared on any previous statement.
(4) Enter the "Ending Balance" shown on this statement $___________
(5) Add (+) deposits not shown on this statement (if any) +___________
„ $___________
(6) Subtract(-) checks and/or other outstanding debits -___________
(7) Balance should equal the balance in your checkbook $___________
Total ƒ
If your account does not balance, please check the following: ORDER OF PAYMENT
• Have you added and subtracted correctly – both in your checkbook register and This section describes our general practice for paying transactions from
in steps 3-6 above? your account. We may vary the order of payment if items are presented that
• Have you correctly entered the amounts of each deposit, credit, check, check cannot be returned unpaid. We reserve the right to change how we pay
card transaction or other debit in your checkbook? transactions from your account and will provide you notice of these changes.
• Do all checks and other debits you have marked as paid appear on this
statement? Are any still outstanding that you have marked as paid? After the close of the business day, we add your deposits and other credits to
• Have all deposits been added to your checkbook record and do the amounts your account. We then deduct any fees and charges owed to the bank. Finally,
agree with the amounts on this statement? we deduct all items presented for payment The order these items are
• Have you carried the correct balance forward from one checkbook register page deducted from your account balance is based upon the type of transaction
to the next? and, for electronic transactions, when the transaction was performed by you
• Are you sure that all items you show as outstanding are not on this statement or or was received by us.
any previous statement? First, we pay outgoing wire transactions in the order they were made. Then,
we pay electronic transactions (First, we pay preauthorized ACH debits, then
ADDITIONAL WAYS TO MANAGE YOUR ACCOUNT
ATM transactions, and then check card transactions.) in the order they were
To check your balance between statements and track pending credits or debits. performed by you or were received by us. Next, we pay unnumbered checks
take advantage of: and other items drawn on your account by dollar amount in ascending order.
• Internet Banking Finally, we pay checks drawn on your account in ascending check number
• Mobile Banking order. For business and commercial accounts: All checks and other items
• Touchtone Banking drawn on your account are paid by dollar amount in descending order.
Information on these convenient options is available from your banker and
through our website. BILLING RIGHTS SUMMARY
(Personal Reserve Account Only)
ELECTRONIC FUND TRANSFERS PREAUTHORIZED CREDITS
In case of errors or questions about your statement: If you think your
If you have arranged to have direct deposits made to your account, you can
statement is wrong or if you need more information about a transaction on the
call us at the telephone number indicated on page one of this statement to
statement, write us (on a separate sheet) at the address indicated on page one
find out whether or not the deposits have been made.
of this statement as soon as possible. We must hear from you no later than 60
ELECTRONIC FUND TRANSFER DISCLOSURE days after we sent you the FIRST statement on which the error or problem
In case of errors or questions about your electronic transfers: If you think appeared. You can telephone us, but doing so will not preserve your rights.
your statement or receipt is wrong or if you need more information about a In your letter, give us the following information:
transfer on the statement or receipt, please telephone us at the number or (1) State your name and account number.
write us at the address indicated on page one of this statement as soon as (2) Describe the error and explain as clearly as you can why you believe there is
possible. We must hear from you no later than 60 days after we sent you the an error. If you need more information, describe the item you are unsure
FIRST statement on which the error or problem appeared. about.
(3) Tell us the dollar amount of the suspected error.
(1) Tell us your name and account number.
(2) Describe the error or the transfer you are unsure about. Explain as clearly as You do not have to pay any amount in question while we are investigating,
you can why you believe there is an error or why you need more information. but you are still obligated to pay the parts of your statement that are not in
(3) Tell us the dollar amount of the suspected error. question. While we investigate your question, we cannot report you as
delinquent or take any action to collect the amount you question.
We will investigate your complaint and will correct any error promptly. For
consumer/personal accounts, if we take more than 10 business days to do
this, we will recredit your account for the amount you think is in error so that
you may have use of the money during the time it takes us to complete the
investigation.
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