KServicing reports $245,609 net loss for April

By Sarah Lizee

Olympia, Wash., May 31 – Kabbage, Inc., which does business as KServicing, reported a $245,609 net loss on $3.03 million of gross income/sales for April, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, the company reported a $3.68 million net loss on $2.57 million of gross income/sales for March.

The cash balance at the end of April was $25.71 million, down from $29.15 million at the end of March.

The Atlanta-based servicer and subservicer of small business Paycheck Protection Program loans filed bankruptcy on Oct. 3, 2022 under Chapter 11 case number 22-10951.

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