Kabbage Builds Tool for Uber Drivers to Apply for PPP Loans

Online SMB lender Kabbage has built an app to allow Uber drivers to apply for PPP loans directly from their phone; Kabbage has made more than 130,000 SBA-approved PPP loans worth more than $3.8 billion through a platform it built just before the program started on April 3; the company used many of the modules it built to make a version for Uber Drivers and they added optical character recognition or OCR to read scanned documents; “I think it’s a huge step up for the customers to be able to go through a repopulated application and for us also to be able to understand the data,” Kabbage CEO Rob Frohwein said to American Banker. “It really does make the process a lot smoother,” he said. American Banker.