This week, we learned that a respected business owner, Cheryl Contee, was upset about the process of applying for a loan.
As the leader in technology and data driven lending, Kabbage makes underwriting decisions solely based on business performance data. Demographic data is not nor has it ever been a factor in our risk models. In fact, Kabbage does not currently collect such data. We founded Kabbage to increase access to capital for small business owners. To date, Kabbage has delivered more than $1.5 billion in capital through more than 350,000 loans to nearly 70,000 small businesses. We regret that Ms. Contee had a negative experience with Kabbage. We are legally required to collect and verify customer identification information.
Our co-founder, Kathryn Petralia, has corresponded with Ms. Contee and is awaiting her call. We look forward to speaking to Ms. Contee and will continue our hard work to expand access to capital for small businesses both in the United States and throughout the world.