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Small biz lender stops working with "assault weapon" retailers

Kabbage co-founder and CEO Rob Frohwein
Kabbage co-founder and CEO Rob Frohwein. Photo by Brendan Moran / Getty Images.

Kabbage, an online lender to small businesses, said on Monday that it will stop funding for businesses that sell or manufacture assault-style rifles or ammunition. It also won't lend to businesses that sell any firearms to those under 21.

Why it matters: Kabbage is a significant capital source for small businesses, having lent more than $4 billion to over 130,000 customers, and is now the latest company to change policy in the wake of last month's massacre in Parkland, Florida.

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