The New York Times, July 22, 2020: Online Lender Kabbage Launches Checking Accounts for Small Businesses
The accounts, which have no minimum balance requirements or maintenance fees, will pay 1.10% annual yield, disbursed monthly, the company said.
Kabbage checking accounts will be issued by partner bank Green Dot Bank, a member of the Federal Deposit Insurance Corporation and are insured up to $250,000, the company said.
The launch comes as small businesses across the country reel from the economic impact of the novel coronavirus pandemic, which has led many companies to permanently close.
