1. After slow start, Florence Bank says partner Kabbage is processing 500-600 Paycheck Protection Program coronavirus relief loans

    After slow start, Florence Bank says partner Kabbage is processing 500-600 Paycheck Protection Program coronavirus relief loans

    Florence Bank prides itself on being a local bank with local decision makers and personal service. But to handle Paycheck Protection Program loans through the U.S. Small Business Administration as quickly as possible, it outsourced work to online processor Kabbage, said Florence Bank President Kevin R. Day. But Kabbage got a slow start, missing out on first-round funding from the coronavirus relief program and frustrating local borrowers and Florence Bank itself.

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    1. We executed as best we could but it just didn't go as well as we'd hoped.
    2. We thought we had a great process that would help (customers).
    3. There is a lot of activity going on to help customers across the board.
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