KServicing monthly report shows $4.18 million loss for November

Chicago, Dec. 21 – Kabbage, Inc., which does business as KServicing, filed a monthly report for November which showed a $4.18 million loss on $2.23 million of gross income or sales, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

General administrative expenses and reorganization items accounted for most of the difference.

The company had $41.08 million of cash at the end of November versus $19.12 million at the beginning of the month.

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

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