K Servicing, "Welcome to K Servicing"

Summary

The K Servicing welcome page tells Kabbage customers that, in connection with American Express's acquisition of Kabbage, Kabbage Funding loans and PPP loans taken before October 16, 2020 will continue to be managed by Kabbage, Inc. through K Servicing. Borrowers who took a PPP loan through Kabbage can apply for forgiveness and manage repayment on the new site, signing in with their Kabbage username and password. The page's questions section says K Servicing is focused on servicing existing PPP loans, and that if borrowers do not apply for forgiveness within ten months after the end of the maximum covered period (24 weeks from disbursement), payments are no longer deferred. It adds that the first borrowers, from when the PPP opened on April 3rd, 2020, have until at least mid-July 2021, and that loans under $150,000 qualifying for Form 3508S may need no supporting documentation.

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Apply for Paycheck Protection Program (PPP) Forgiveness

Go to Loan Forgiveness Page >

Welcome to K Servicing

You'll enjoy the same great service and security you've come to expect with your line of credit – just through our new site.

Sign into K Servicing using your current Kabbage username and password to manage your outstanding loans previously taken through Kabbage Funding™ or the Paycheck Protection Program (PPP). 2

In connection with American Express’s acquisition of Kabbage, we’ve established K Servicing to maintain consistency in the way you manage your existing loans. Any Kabbage Funding loans or PPP loans taken prior to October 16, 2020, will continue to be managed by Kabbage, Inc. through K Servicing.

- Kabbage Funding loans The fees and repayment terms of your outstanding loans taken before October 16, 2020, won’t change. You’ll just manage your account and repayments through the new K Servicing site. Sign in
- PPP loans If you took a PPP loan through Kabbage, you can apply for loan forgiveness and manage repayment through the new K Servicing site. Sign in

Frequently asked questions

- At this time, we are focused on servicing existing PPP loans. SBA is currently only offering PPP loans originated by participating community financial institutions.
- A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within ten months after the end of the maximum loan forgiveness covered period (24 weeks from the loan disbursement date), then PPP loan payments are no longer deferred, and borrowers must begin making loan payments to their PPP lender.
- We are working closely with the SBA for loan forgiveness requests. We are in communication with our existing customers regarding documentation necessary for loan forgiveness.
- We are working closely with the SBA to ensure that no PPP loan customer loses his or her opportunity to seek loan forgiveness. The very first borrowers who received PPP loans when the PPP opened on April 3rd, 2020 will have their deferral periods run out in mid-July, 2021. That is, borrowers have until at least mid-July 2021 to apply for forgiveness before payments are due on their loans.
- Borrowers must provide documentation to support forgiveness-eligible expenses. Borrowers may not be required to submit all of these documents, depending on whether they qualify to use the SBA’s forgiveness application Form EZ or Form S. In addition, as provided for in the December 27, 2020 legislation, borrowers with loans under $150,000 who qualify to use the new Form 3508S may not need to submit any supporting documentation. Please review the instructions to the forgiveness applications for more information on which documentation you may need to submit or visit SBA.gov for more information.
- K Servicing only uses your information as required or permitted by the SBA and the PPP program. In November, a federal court ordered the SBA to release certain SBA loan data. A link to the SBA press release can be found here .
- For forgiveness questions, please email pppforgiveness@kservicing.com

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